Danger in Europe

Think things are better? Take a look at what the Financial Times reported from Europe:

The Spanish and Italian commercial property markets have all but collapsed with the number of transactions in both countries falling more than 90 per cent in the three months to July as investors worry about the future of the eurozone.

Only three property transactions were registered in Spain during the second quarter, down from 58 deals in the previous quarter. In Italy the slide was even more pronounced, with just two buildings being traded during the period, down from 56, according to data from Real Capital Analytics.

The severity of the decline highlights investors’ concerns about the risk of owning fixed assets in the two countries given the uncertain direction of the eurozone economy.,

Only three property transactions in Spain and only two in Italy in four months! Has anything like that ever happened before?

With France about to tax the wealthy 75% can they be far behind? And what about us? So much depends on this election!

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