patrick.net

"Those who cannot remember the past are condemned to repeat it" - well, the poster child of that statement must certainly be Iceland.

After suffering a devastating financial collapse in 2008 after its bubble economy popped, Iceland is being lauded for its speedy recovery.

But what if Iceland's "recovery" is based on yet another inflating bubble? It turns out that Iceland is back to blowing bubbles as if 2008 never happened. See for yourself:

http://www.thebubblebubble.com/iceland-housing-bubble/

Also, take a look at the overall Nordic Housing Bubble that is inflating and creating a "Nordic Economic Miracle":

http://www.thebubblebubble.com/nordic-housing-bubble/

Right now, I can imagine property investors saying "This time is different!" in five different Nordic languages.

Let me know what you make of this situation,

Jesse

#housing