Le Prix de l'immobilier : un château de cartes?

La première ville importante à connaître un boom fut Londres, aux alentours de 1996. Cette attitude se propagea à Los Angeles, New York et Sydney vers 1997 et Paris en 1998, jusqu'à Miami, Moscou et Shanghai en 2001 et Vancouver en 2002. Ces villes et d'autres ont vu les prix de l'immobilier s'enflammer depuis ce moment-là. Les prix sont montés d'au moins 50 % en prix constants depuis 2000. Ce fut la source d'importants profits inattendus pour les propriétaires mais aussi source de problème pour toute personne se préparant à acquérir un bien immobilier.

Aujourd'hui, l'augmentation des prix de l'immobilier faiblit dans certaines de ces grandes villes. Le taux de croissance à Londres et New York s'est fortement ralenti au cours de l'année passée, et est tombé à 1 % environ d'une augmentation réelle lors du second trimestre de 2004. A Sydney, les prix des habitations sont en fait tombés au cours du deuxième trimestre.

Est-ce la fin du boom ? Aucune autre ville n'en profitera ? Pire encore, l'humeur des marchés de l'immobilier pourrait-elle mener à une chute des prix ?

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