and gradually introduced a catena of activating policies

Miami 1920s urban scene

1925, the American investment in Florida real estate crazy photo shows the construction of the villa was

● United States: 1926 broken, indirectly lead to the 1930s the world economic crisis

● Japan: 1991 broken, resulting in a 15-year recession in Japan

● Southeast Asia, Hong Kong: 1997 broken, Hong Kong capable a dozen ten thousand million

20 century is the rapid development of the world economy 100 years, the rise of real estate is undoubtedly stimulate economic growth in the 100 years an major factor. However, deserving to a variety of intricate reasons, in some countries and regions, there had been hideous the real estate bubble, resulting in many investors suddenly penniless, leaving scenes of misadventure.

the U.S. housing bubble: 7.5 million people in the city was an abrupt 25,000 real estate brokers

the mid-1920s, the U.S. economy is in short-lived boom, the construction industry increasingly prosperous. In this environment, has a special location in Florida in an unprecedented real estate bubble.

southeastern tip of Florida in the United States, position, warm and moist air in winter. After World War I, where ordinary people quickly became a winter resort. As Florida's land has been much lower than other states, so the state has become the ideal place to invest. Many Americans come here, can not await to buy real estate. As demand increases, Florida's land prices began to rise. Especially in the 1923 -1926 years, Florida had a remarkable amplify in land prices. For example, Palm Beach on a land value of $ 800,000 in 1923, $ 1.5 million in 1924,8744.org, 1925 is as high as $ 4.0 million. An increasingly speculative real estate madness surging. According to statistics, in 1925, actually seemed in Miami, more than 2,000 real estate companies, the city was only 7.5 million people, of which as many as 25,000 real estate agents, there is an average of every three residents specializing in real estate transactions. At that time, land prices rose 10 percent each, ambition virtually twice the profits of speculators. In those years, people's mantra is Emboldened in this frenzy, has forever been conservative tranquility banking sector have added the ranks of real estate speculators.

But the good, to 1926, Florida real estate bubble speedily broken, many bankrupt entrepreneurs, bankers, alternatively suicide, or crazy, when others are depressed to beggars. It is said that the famous U.S. commerce, Then, this bubble has intensified the U.S. economic crisis, the results led to the collapse of Wall Street, finally led to the 1930s the globe economic crisis.

Japanese real estate bubble: a area of land in Tokyo more than the amount of U.S. national land

20 1930 behind 60 years, the world real estate has not experienced great waves, but later the 1990s, the Japanese real estate bubble once anew shocked the world.

20 in the late 1980s, in order to stimulate economic evolution, Japan's central bank has taken a very lax monetary policy to encourage capital inflows and stock market, real estate, resulting in skyrocketing real estate prices. In September 1985, the United States, Germany, Japan, France, Britain signed a five-nation finance ministers 'Plaza Accord', decided to agree to the dollar. Depreciation of the dollar, a large number of international capital into the Japanese real estate, and more to stimulate the housing prices up. From 1986 to 1989, prices in Japan rose double as a entire.

by price surges of temptation, many Japanese began to lose patience. They base that stocks and real estate speculation to the money faster, so the savings have come to speculate. By 1989, the Japanese real estate prices have soared to ridiculous levels. At that time, the equivalent of California's land area of ​​Japan, really equivalent to its total market value of land throughout the United States quadruple the total premium. By 1990, only Tokyo, the land equivalent of the U.S. National total premium. General working-class even now it took his life savings are also proficient to buy a house in the metropolis, affordable housing, only a handful billionaire and big corporation executives.

bubbles always burst

always the time. After 1991, with profit after the withdrawal of international capital from exotic capital to promote the Japanese real estate bubble quickly burst, then real estate prices plummeted. By 1993, total collapse of the Japanese real estate, businesses have closed down, left up to $ 600 billion of bad debt.

from the consequences of speaking, in the 1990s real estate spume rupture in Japan's history namely affecting the longest period. The real estate bubble is no only a heavy beat, merely likewise gave heave to a solemn monetary emergency. Affected at this, the history of Japan ushered in the most lengthened economy recession, plunged into 15 annuals of depression and depression. Even now, the Japanese economic is too not entirely out of the eclipses. No wonder human constantly phoned the real estate bubble was

Southeast Asia, Hong Kong real estate bubble: average detriment of 2.67 million Hong Kong dollar owners

after Japan, Thailand, Malaysia, Indonesia and other Southeast Asian countries, the real estate bubble is a painful experience, which is particularly famous in Thailand. The mid-1980s, the Thai government to invest in real estate as a prerogative area, and gradually introduced a series of stimulating policies, which promote the health of the housing boom. After the Gulf War, a large number of developers and speculators pouring into the real estate market, paired with the laissez-faire policy of bank credit, endowed to the real estate bubble. At the same time, large quantities of foreign capital has entered the real estate market in other Southeast Asian countries to speculative activities. Unfortunately, when these countries do not regulate well, eventually leadership to the real estate market, supply distant exceeds claim, an colossal bubble. In the financial crisis broke in 1996, Thailand's real estate industry has been in full peril, the housing emptiness rate continues to rise, with office vacancy rates as high as 50%. With the 1997 Asian financial crisis, Thailand and other Southeast Asian countries, the real estate bubble have been dashed, and led directly to national economic recession.

Southeast Asian financial crisis also led instantly to the Hong Kong real estate bubble burst. Hong Kong's property boom dates behind to the 1970s. At that time, Li Ka-shing, Pao Yue Kong and additional business tycoons have invested in real estate, Hong Kong's altitude ten publicly traded real estate companies have, while those from Japan, Southeast Asia and Australia are also flocking to the capital. Driven by assorted elements, Hong Kong's housing prices and the sharp rise in land prices. By 1981, Hong Kong has chance second only to Japan the highest in the world price.

1984 - 1997, Hong Kong, average house prices additional by more than 20%. Central and Tsim Sha Tsui chief district up to hundreds of thousands per square meter price of HK $, some premier bureau space per square meter, even to the nearly $ 200,000 price. Stimulated by soaring house prices, Hong Kong's real estate presumption quickly began to flourish, there has been a large number of frenzied At that time, Hong Kong, people blindly invest in real estate. In array to seize the chance, many real estate agents often based solely above the portrayal of the call, they hastily determined to purchase luxury. Some brokers even mention such a object would be customers: buy a house before the HK $ 1.5 million have to be spent to buy a number of curious things.

in Hong Kong's real estate bubble at its tip, the Southeast Asian financial crisis struck. 1998, 2004, the Hong Kong attribute costs have plunged, such as the notable middle-class residential community, According to specialist measurements, from 1997 to 2002, 5 years, Hong Kong, the total market merit of real estate and stock mall losses of approximately HK $ 8 trillion over the same time more than the GDP of Hong Kong. For mediocre Hong Kong people, the real estate bubble burst is painful. In this bubble, the Hong Kong owners lost an average of 2.67 million Hong Kong dollars each, more than 100,000 people by the million

can be said that in the final century's three big real estate bubble, the world at that time and later had far-reaching economic impact. Them to the world economy reasoned a painful loss, but also left a expensive course, and these lessons real estate boom in the world today, high fever is particularly valuable.