House price falls add to Eurozone’s woes

Article reports that Continental Europe saw steep falls in house prices in the final months of 2008 that could exacerbate the region’s already deep recession, even if the declines are receiving less attention than those in the US or UK markets, according a new indicator compiled by the Financial Times called the FT Europe House Price Index.

ECB: Housing finance in the euro area. Structural issues report, March 2009 http://www.ecb.int/pub/pdf/other/housingfinanceeuroarea0309en.pdf

ECB: Housing finance in the euro area (Occasional Paper No. 101), March 2009 http://www.ecb.int/pub/pdf/scpops/ecbocp101.pdf

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