{"id":23693,"date":"2022-12-16T15:53:06","date_gmt":"2022-12-16T14:53:06","guid":{"rendered":"https:\/\/michelsanti.fr\/?p=23693"},"modified":"2022-12-17T15:17:05","modified_gmt":"2022-12-17T14:17:05","slug":"german-subprimes","status":"publish","type":"post","link":"https:\/\/michelsanti.fr\/en\/real-estate\/german-subprimes","title":{"rendered":"German Subprimes"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" decoding=\"async\" data-attachment-id=\"23697\" data-permalink=\"https:\/\/michelsanti.fr\/en\/real-estate\/german-subprimes\/attachment\/construction\" data-orig-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/construction-1.png?fit=1900%2C1048&amp;ssl=1\" data-orig-size=\"1900,1048\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"construction\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/construction-1.png?fit=1024%2C565&amp;ssl=1\" class=\"alignnone size-medium wp-image-23697\" src=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/construction-1.png?resize=300%2C165&#038;ssl=1\" alt=\"\" width=\"300\" height=\"165\" srcset=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/construction-1.png?resize=300%2C165&amp;ssl=1 300w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/construction-1.png?resize=1024%2C565&amp;ssl=1 1024w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/construction-1.png?resize=768%2C424&amp;ssl=1 768w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/construction-1.png?resize=1536%2C847&amp;ssl=1 1536w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/construction-1.png?resize=1200%2C662&amp;ssl=1 1200w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/construction-1.png?w=1900&amp;ssl=1 1900w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>Real estate storm to come in Germany where residential construction is plunging at the same rate as mortgage applications.<\/p>\n<p>&nbsp;<\/p>\n<p><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" data-attachment-id=\"23695\" data-permalink=\"https:\/\/michelsanti.fr\/en\/real-estate\/german-subprimes\/attachment\/lending\" data-orig-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/lending-1.png?fit=1900%2C1071&amp;ssl=1\" data-orig-size=\"1900,1071\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"lending\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/lending-1.png?fit=1024%2C577&amp;ssl=1\" class=\"alignnone size-medium wp-image-23695\" src=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/lending-1.png?resize=300%2C169&#038;ssl=1\" alt=\"\" width=\"300\" height=\"169\" srcset=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/lending-1.png?resize=300%2C169&amp;ssl=1 300w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/lending-1.png?resize=1024%2C577&amp;ssl=1 1024w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/lending-1.png?resize=768%2C433&amp;ssl=1 768w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/lending-1.png?resize=1536%2C866&amp;ssl=1 1536w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/lending-1.png?resize=1200%2C676&amp;ssl=1 1200w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/lending-1.png?resize=1140%2C641&amp;ssl=1 1140w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/lending-1.png?w=1900&amp;ssl=1 1900w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; Real estate storm to come in Germany where residential construction is plunging at the same rate as mortgage applications. &nbsp;<\/p>\n","protected":false},"author":4,"featured_media":23695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"_crdt_document":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"mc4wp_mailchimp_campaign":[],"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[648941281],"tags":[],"class_list":["post-23693","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>German Subprimes - Michel Santi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/michelsanti.fr\/en\/real-estate\/german-subprimes\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"German Subprimes - Michel Santi\" \/>\n<meta property=\"og:description\" content=\"&nbsp; Real estate storm to come in Germany where residential construction is plunging at the same rate as mortgage applications. &nbsp;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/michelsanti.fr\/en\/real-estate\/german-subprimes\" \/>\n<meta property=\"og:site_name\" content=\"Michel Santi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/michel.santi.economiste\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-16T14:53:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-17T14:17:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/lending-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1900\" \/>\n\t<meta property=\"og:image:height\" content=\"1071\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Michel Santi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@michelsanti1\" \/>\n<meta name=\"twitter:site\" content=\"@michelsanti1\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michel Santi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/real-estate\\\/german-subprimes#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/real-estate\\\/german-subprimes\"},\"author\":{\"name\":\"Michel Santi\",\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/#\\\/schema\\\/person\\\/ba61ae1376925b43e3d1ddbc1e3eb2a4\"},\"headline\":\"German Subprimes\",\"datePublished\":\"2022-12-16T14:53:06+00:00\",\"dateModified\":\"2022-12-17T14:17:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/real-estate\\\/german-subprimes\"},\"wordCount\":23,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/real-estate\\\/german-subprimes#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/i0.wp.com\\\/michelsanti.fr\\\/wp-content\\\/uploads\\\/2022\\\/12\\\/lending-1.png?fit=1900%2C1071&ssl=1\",\"articleSection\":[\"Real estate\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/michelsanti.fr\\\/en\\\/real-estate\\\/german-subprimes#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/real-estate\\\/german-subprimes\",\"url\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/real-estate\\\/german-subprimes\",\"name\":\"German Subprimes - Michel Santi\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/real-estate\\\/german-subprimes#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/real-estate\\\/german-subprimes#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/i0.wp.com\\\/michelsanti.fr\\\/wp-content\\\/uploads\\\/2022\\\/12\\\/lending-1.png?fit=1900%2C1071&ssl=1\",\"datePublished\":\"2022-12-16T14:53:06+00:00\",\"dateModified\":\"2022-12-17T14:17:05+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/#\\\/schema\\\/person\\\/ba61ae1376925b43e3d1ddbc1e3eb2a4\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/real-estate\\\/german-subprimes#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/michelsanti.fr\\\/en\\\/real-estate\\\/german-subprimes\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/real-estate\\\/german-subprimes#primaryimage\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/michelsanti.fr\\\/wp-content\\\/uploads\\\/2022\\\/12\\\/lending-1.png?fit=1900%2C1071&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/michelsanti.fr\\\/wp-content\\\/uploads\\\/2022\\\/12\\\/lending-1.png?fit=1900%2C1071&ssl=1\",\"width\":1900,\"height\":1071},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/real-estate\\\/german-subprimes#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Accueil\",\"item\":\"https:\\\/\\\/michelsanti.fr\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"German Subprimes\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/#website\",\"url\":\"https:\\\/\\\/michelsanti.fr\\\/\",\"name\":\"Michel Santi\",\"description\":\"\\\"It is not because things are difficult that we do not dare. It is because we do not dare that they seem difficult\\\", Seneca the Younger\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/michelsanti.fr\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/michelsanti.fr\\\/#\\\/schema\\\/person\\\/ba61ae1376925b43e3d1ddbc1e3eb2a4\",\"name\":\"Michel Santi\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/e6bc76c70234e8753d2b85c3b3bd08397f8734d2cddafa2d9ab319e7163e44a1?s=96&d=identicon&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/e6bc76c70234e8753d2b85c3b3bd08397f8734d2cddafa2d9ab319e7163e44a1?s=96&d=identicon&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/e6bc76c70234e8753d2b85c3b3bd08397f8734d2cddafa2d9ab319e7163e44a1?s=96&d=identicon&r=g\",\"caption\":\"Michel Santi\"},\"sameAs\":[\"https:\\\/\\\/michelsanti.fr\\\/\"],\"url\":\"https:\\\/\\\/michelsanti.fr\\\/en\\\/author\\\/msanti17\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"German Subprimes - Michel Santi","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/michelsanti.fr\/en\/real-estate\/german-subprimes","og_locale":"en_US","og_type":"article","og_title":"German Subprimes - Michel Santi","og_description":"&nbsp; Real estate storm to come in Germany where residential construction is plunging at the same rate as mortgage applications. &nbsp;","og_url":"https:\/\/michelsanti.fr\/en\/real-estate\/german-subprimes","og_site_name":"Michel Santi","article_publisher":"https:\/\/www.facebook.com\/michel.santi.economiste","article_published_time":"2022-12-16T14:53:06+00:00","article_modified_time":"2022-12-17T14:17:05+00:00","og_image":[{"width":1900,"height":1071,"url":"https:\/\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/lending-1.png","type":"image\/png"}],"author":"Michel Santi","twitter_card":"summary_large_image","twitter_creator":"@michelsanti1","twitter_site":"@michelsanti1","twitter_misc":{"Written by":"Michel Santi","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/michelsanti.fr\/en\/real-estate\/german-subprimes#article","isPartOf":{"@id":"https:\/\/michelsanti.fr\/en\/real-estate\/german-subprimes"},"author":{"name":"Michel Santi","@id":"https:\/\/michelsanti.fr\/#\/schema\/person\/ba61ae1376925b43e3d1ddbc1e3eb2a4"},"headline":"German Subprimes","datePublished":"2022-12-16T14:53:06+00:00","dateModified":"2022-12-17T14:17:05+00:00","mainEntityOfPage":{"@id":"https:\/\/michelsanti.fr\/en\/real-estate\/german-subprimes"},"wordCount":23,"commentCount":0,"image":{"@id":"https:\/\/michelsanti.fr\/en\/real-estate\/german-subprimes#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/lending-1.png?fit=1900%2C1071&ssl=1","articleSection":["Real estate"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/michelsanti.fr\/en\/real-estate\/german-subprimes#respond"]}]},{"@type":"WebPage","@id":"https:\/\/michelsanti.fr\/en\/real-estate\/german-subprimes","url":"https:\/\/michelsanti.fr\/en\/real-estate\/german-subprimes","name":"German Subprimes - Michel Santi","isPartOf":{"@id":"https:\/\/michelsanti.fr\/#website"},"primaryImageOfPage":{"@id":"https:\/\/michelsanti.fr\/en\/real-estate\/german-subprimes#primaryimage"},"image":{"@id":"https:\/\/michelsanti.fr\/en\/real-estate\/german-subprimes#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/lending-1.png?fit=1900%2C1071&ssl=1","datePublished":"2022-12-16T14:53:06+00:00","dateModified":"2022-12-17T14:17:05+00:00","author":{"@id":"https:\/\/michelsanti.fr\/#\/schema\/person\/ba61ae1376925b43e3d1ddbc1e3eb2a4"},"breadcrumb":{"@id":"https:\/\/michelsanti.fr\/en\/real-estate\/german-subprimes#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/michelsanti.fr\/en\/real-estate\/german-subprimes"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/michelsanti.fr\/en\/real-estate\/german-subprimes#primaryimage","url":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/lending-1.png?fit=1900%2C1071&ssl=1","contentUrl":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/lending-1.png?fit=1900%2C1071&ssl=1","width":1900,"height":1071},{"@type":"BreadcrumbList","@id":"https:\/\/michelsanti.fr\/en\/real-estate\/german-subprimes#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Accueil","item":"https:\/\/michelsanti.fr\/"},{"@type":"ListItem","position":2,"name":"German Subprimes"}]},{"@type":"WebSite","@id":"https:\/\/michelsanti.fr\/#website","url":"https:\/\/michelsanti.fr\/","name":"Michel Santi","description":"\"It is not because things are difficult that we do not dare. It is because we do not dare that they seem difficult\", Seneca the Younger","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/michelsanti.fr\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/michelsanti.fr\/#\/schema\/person\/ba61ae1376925b43e3d1ddbc1e3eb2a4","name":"Michel Santi","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/e6bc76c70234e8753d2b85c3b3bd08397f8734d2cddafa2d9ab319e7163e44a1?s=96&d=identicon&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/e6bc76c70234e8753d2b85c3b3bd08397f8734d2cddafa2d9ab319e7163e44a1?s=96&d=identicon&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e6bc76c70234e8753d2b85c3b3bd08397f8734d2cddafa2d9ab319e7163e44a1?s=96&d=identicon&r=g","caption":"Michel Santi"},"sameAs":["https:\/\/michelsanti.fr\/"],"url":"https:\/\/michelsanti.fr\/en\/author\/msanti17"}]}},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/12\/lending-1.png?fit=1900%2C1071&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pagvtB-6a9","jetpack_likes_enabled":true,"jetpack-related-posts":[{"id":13614,"url":"https:\/\/michelsanti.fr\/en\/money-creation\/the-real-estate-standard","url_meta":{"origin":23693,"position":0},"title":"The real estate standard","author":"Michel Santi","date":"April 28, 2015","format":false,"excerpt":"At the height of the 2008 financial crisis, the U.S. government seriously considered nationalizing a large chunk of the American banking system. Instead, what it did was take effective control of the massive U.S. mortgage market. Without Federal guarantees and full government support, the U.S. real estate market (already under\u2026","rel":"","context":"In &quot;Money creation&quot;","block_context":{"text":"Money creation","link":"https:\/\/michelsanti.fr\/en\/category\/money-creation"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/subprime-meltdown.jpg?fit=504%2C440&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":25852,"url":"https:\/\/michelsanti.fr\/en\/real-estate-crisis\/no-more-bets","url_meta":{"origin":23693,"position":1},"title":"No more bets ?","author":"Michel Santi","date":"March 25, 2024","format":false,"excerpt":"Since mid-2022, real estate prices in the United States have dropped by an average of 20%, compared to a total of 23% during the cataclysmic subprime crisis. It was 23% at the time from 2007 to 2010, whereas we're dealing with a 20% decline over 20 months now. This would\u2026","rel":"","context":"In &quot;banking crisis&quot;","block_context":{"text":"banking crisis","link":"https:\/\/michelsanti.fr\/en\/category\/banking-crisis"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/hypotheques.png?fit=746%2C462&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/hypotheques.png?fit=746%2C462&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/hypotheques.png?fit=746%2C462&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/hypotheques.png?fit=746%2C462&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":13623,"url":"https:\/\/michelsanti.fr\/en\/real-estate\/real-estate-growths-parasite","url_meta":{"origin":23693,"position":2},"title":"Real estate, growth\u2019s parasite","author":"Michel Santi","date":"May 29, 2015","format":false,"excerpt":"The meager European economic growth - often described as anemic \u2013 stems from a savings glut. Economic stagnation becomes secular from the moment the money stops flowing, that is, once the investor keeps his precious cash in his bank account and that bank is no longer able to recycle it\u2026","rel":"","context":"In &quot;growth&quot;","block_context":{"text":"growth","link":"https:\/\/michelsanti.fr\/en\/category\/growth"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26118,"url":"https:\/\/michelsanti.fr\/en\/bubble\/china-debt-real-estate","url_meta":{"origin":23693,"position":3},"title":"When China Gives in&#8230;","author":"Michel Santi","date":"May 9, 2024","format":false,"excerpt":"\u00a0 \u00a0 China is on life support: 18 units of credit in China only equate to 1 unit of GDP growth. A cornerstone of household wealth at 65% of their assets, the country's real estate sector, along with indebted regional governments to the tune of $9 trillion (over half the\u2026","rel":"","context":"In &quot;bubble&quot;","block_context":{"text":"bubble","link":"https:\/\/michelsanti.fr\/en\/category\/bubble"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/05\/china-credit.jpg?fit=1200%2C648&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/05\/china-credit.jpg?fit=1200%2C648&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/05\/china-credit.jpg?fit=1200%2C648&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/05\/china-credit.jpg?fit=1200%2C648&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/05\/china-credit.jpg?fit=1200%2C648&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":27507,"url":"https:\/\/michelsanti.fr\/en\/real-estate-crisis\/real-estate-speculation-vs-the-citizen","url_meta":{"origin":23693,"position":4},"title":"Real Estate Speculation vs. The Citizen","author":"Michel Santi","date":"February 10, 2025","format":false,"excerpt":"\u00a0 The West faces a major challenge. We do not want our society to be divided into two classes: wealthy property owners and poor tenants.\" These were the words recently spoken by Spanish Prime Minister Pedro S\u00e1nchez. Under his leadership, Spain will soon impose a 100% tax on any real\u2026","rel":"","context":"In &quot;inequality&quot;","block_context":{"text":"inequality","link":"https:\/\/michelsanti.fr\/en\/category\/inequality"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/02\/espagne-golden-visa.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/02\/espagne-golden-visa.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/02\/espagne-golden-visa.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/02\/espagne-golden-visa.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/02\/espagne-golden-visa.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":21601,"url":"https:\/\/michelsanti.fr\/en\/china\/china-infected-by-financial-capitalism","url_meta":{"origin":23693,"position":5},"title":"China infected by financial capitalism","author":"Michel Santi","date":"September 20, 2021","format":false,"excerpt":"\u00a0 The weight of the real estate industry has now become significant in the Chinese economy. Whereas it made up 5% of GDP in 1995, it is now one of the country\u2019s main growth drivers, coming to more than 30% of economic activity. It is more or less at the\u2026","rel":"","context":"In &quot;China&quot;","block_context":{"text":"China","link":"https:\/\/michelsanti.fr\/en\/category\/china"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/09\/Evergrande.png?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/09\/Evergrande.png?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/09\/Evergrande.png?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/09\/Evergrande.png?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2021\/09\/Evergrande.png?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/23693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/comments?post=23693"}],"version-history":[{"count":2,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/23693\/revisions"}],"predecessor-version":[{"id":23699,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/23693\/revisions\/23699"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media\/23695"}],"wp:attachment":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media?parent=23693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/categories?post=23693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/tags?post=23693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}