Not A Newt@not_a_newt

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German villa €2.3 million real estate collapse

detroit style collapse is the question here, and the numbers behind it are hard to argue with. a villa on the market at €2.3 million was valued at €4.7 million back in 2010. that works out to roughly a 50% loss across 16 years, which is not the kind of drop you expect from real estate. the worry is that this is not an isolated case. Bosch, Mahle, Porsche and Mercedes have either shuttered plants in the area or announced multi-thousand job cuts, and the expectation is that more factories, more companies and more jobs are going to follow. if that keeps up, the property market in the region looks less like a dip and more like a real estate collapse.

1d

Not A Newt@not_a_newt

Follow

German villa €2.3 million real estate collapse

detroit style collapse is the question here, and the numbers behind it are hard to argue with. a villa on the market at €2.3 million was valued at €4.7 million back in 2010. that works out to roughly a 50% loss across 16 years, which is not the kind of drop you expect from real estate. the worry is that this is not an isolated case. Bosch, Mahle, Porsche and Mercedes have either shuttered plants in the area or announced multi-thousand job cuts, and the expectation is that more factories, more companies and more jobs are going to follow. if that keeps up, the property market in the region looks less like a dip and more like a real estate collapse.

1d