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Dutch austerity measures may hit house prices

By Patrick   2012 Nov 8, 9:55am   688 views   3 comments   watch (0)   quote      

http://www.reuters.com/article/2012/11/07/idUSWNA905920121107

Nov 7 - The Dutch government's proposed austerity measures could have a greater negative impact on house prices than on the performance of existing mortgages, Fitch Ratings says. Slow implementation, the focus on the highest earners and a partially offsetting reduction in tax rates, mean we do not expect the much-anticipated reduction in mortgage tax deductibility to have a significant effect on default rates in a near future. The rate will fall to 38% from 52%, though phased in at just 0.5% a year, and only the highest earners will be affected at first. The initial impact will be small...

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1   Bellingham Bill   72/72 = 100% civil   2012 Nov 8, 11:01am  ↑ like   ↓ dislike   quote    

hoo boy.

The Japanese have loaned their government money their savings to build stuff, while the Dutch have loaned each other their savings to buy houses.

Japan has 200%++ public sector debt.

Dutch are at 110% of mortgage debt to GDP.

Idiots!

obligatory FRED chart of US debt/GDP:

http://research.stlouisfed.org/fred2/graph/?g=cDe

2   thomaswong.1986     2012 Nov 8, 2:30pm  ↑ like   ↓ dislike   quote    

At least they have bankable assets..

While its oil reserves in the North Sea are of little importance, the Netherlands is presently the second largest natural gas producer in Europe and the ninth in the world, accounting for more than 30% of EU total annual gas production and about 2.7% of the annual world total.

3   Bellingham Bill   72/72 = 100% civil   2012 Nov 8, 3:28pm  ↑ like (1)   ↓ dislike   quote    

actually debt-to-income isn't so good:

http://research.stlouisfed.org/fred2/graph/?g=cDQ

gee, didn't anybody see that skyrocket in realtime???

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