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To be sure, France doesn’t face a U.S.-style mortgage crisis. French banks are generally conservative lenders, nearly all home loans are fixed-rate, and foreclosures are rare. But the housing market had clearly overheated, with prices rising 210% from 1995 to 2008. That’s not quite on a par with the 270% rise in Spain during the same period – but it’s more than the 190% growth posted in the U.S.
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Shocker: real estate prices rose more in France than in the US 1995 to 2008.
