In today's links was a Figaro article which pointed to a slowdown in French housing transactions in Q2 2012. As sales are the first to decline in a housing bust, this turn of events bears watching, especially because France is embarking on its most audacious austerity plan in at least three decades with 33 billion euros of fiscal adjustments in the coming years.
Two further articles on the slowdown were published in L'Expansion giving a little more color on the slowdown. First was an article on the expected slowdown in single-family home construction where nearly one in ten jobs are expected to disappear in 2012 alone. The article says sales are at the lowest levels in six years.
Here's a brief translation:
The single-family home sector is going through an unprecedented crisis: 14,000...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.