Droht den Eigenheimpreisen das Schicksal eines Kartenhauses?

Die erste Großstadt, die einen derartigen Preisboom erlebte war London. Dort begann es 1996. Im Jahr 1997 erfasste dieser Boom Los Angeles, New York und Sidney, im Jahr 1998 Miami, Moskau und Shanghai und um das Jahr 2002 Vancouver. Seit damals hat der Boom in diesen und anderen Städten der Welt angehalten. Vielfach sind die Preise seit dem Jahr 2000 real um mindestens 50 % gestiegen. Für Eigenheimbesitzer ist das ein enormer Gewinn, aber für diejenigen, die einen Kauf erst planen, eine schmerzliche Sache.

Momentan lässt der Preisanstieg bei Eigenheimen in manchen dieser Städte nach. Im letzen Jahr verlangsamte sich der Preisanstieg in London und New York drastisch und fiel im zweiten Quartal 2004 auf etwa 1 % realen Zuwachs. In Sydney fielen die Eigenheimpreise im zweiten Quartal sogar.

Ist der Boom damit zu Ende? Werden andere Städte nicht davon profitieren? Oder noch schlimmer: Könnte die Stimmung auf den Immobilienmärkten zu einem Abwärtstrend bei den Preisen führen?

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