Guest Post by Harry Dent
The global real estate bubble is bursting.
After imposing a hefty 26% tax on foreign buyers, and a 12% to 16% surcharge for buyers who flipped their house between one and two years, Singapore real estate has declined 21.5%.
Vancouver has taken similar measures, and – surprise, surprise – its real estate is down 24% in just five months!
That’s what I mean when I say that when bubbles burst, they do so dramatically and rapidly.
But this is likely just the beginning…
I put Singapore into razor-sharp focus in February of last year when I noted it had some of the most expensive real estate in the world. It has the highest standard of living of any country in Asia – even higher than in the U.S.!
The problem is that the country is 100% urban and has limited land – making it incredibly susceptible to the kind of bubble that’s formed there.
And boy, has one ever.
Continue reading “The Global Real Estate Bubble Is OFFICIALLY Bursting”
