The era of the neverending bubble?
The IMF got the timing right. It published last week a new ‘Global Housing Watch‘, and warned that house prices were way above trend in a lot of different countries all around the world. The FT also reports here:
The world must act to contain the risk of another devastating housing crash, the International Monetary Fund warned on Wednesday, as it published new data showing house prices are well above their historical average in many countries.
As I said, perfect timing, as this announcement follows my previous post on the influence of Basel’s RWAs on mortgage lending.
As long as international banking authorities don’t get rid of this mechanism, we are likely to experience reoccuring housing bubbles with their devastating economic effects (hint for Piketty: and investors/speculators will have an easy life making capital gains).
PS: I am on holidays until the end of the week, so probably not many updates over the next few days.
Spontaneous Finance 
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