jacobwolinsky Posted January 20, 2012 Share Posted January 20, 2012 Denamrk has a huge housing bubble. No one really has focused on this besides Luxor capital. We lay out a short thesis here-http://www.valuewalk.com/2012/01/why-denmark-is-not-aaa/#.TxmV1W-CkhU. Their biggest bank, Den Danske has 2x the assets of Denmark. It would be like JPM, C, BAC or whoever having $30T of assets. Banking assets to GDP is 90% in America vs 450% in Denmark. Link to comment Share on other sites More sharing options...
Baoxiaodao Posted January 21, 2012 Share Posted January 21, 2012 Denamrk has a huge housing bubble. No one really has focused on this besides Luxor capital. We lay out a short thesis here-http://www.valuewalk.com/2012/01/why-denmark-is-not-aaa/#.TxmV1W-CkhU. Their biggest bank, Den Danske has 2x the assets of Denmark. It would be like JPM, C, BAC or whoever having $30T of assets. Banking assets to GDP is 90% in America vs 450% in Denmark. Thanks! Have you looking into Finland? I would really like you to comment on this one! Link to comment Share on other sites More sharing options...
alwaysinvert Posted January 21, 2012 Share Posted January 21, 2012 Same thing in Sweden, huge banks compared to GDP. Norway's bubble is perhaps the biggest of all. Last week, I attended an event in Stockholm where Robert Shiller to some extent talked about the housing bubbles of Scandinavia. Can be viewed here: http://storm.zoomvisionmamato.com/player/skagenfonder/objects/45caxywq/ Interesting enough even if you don't give a rat's ass about us Scandis :) Should be pointed out that Shiller only uses official government data for Sweden, which is a bit slower, and that the bubble may have popped now with price declines of ~10% in the last year, so about the same pattern as the graph of the different areas of Denmark in the link in OP. Link to comment Share on other sites More sharing options...
BargainValueHunter Posted April 20, 2017 Share Posted April 20, 2017 ...and here we are 5 years later and the Canadian portion of the bubble has only gotten larger according to Watsa: https://www.bloomberg.com/news/articles/2017-04-20/fairfax-s-watsa-warns-toronto-real-estate-bubble-will-burst Watsa helped Fairfax prosper in the credit crisis by betting on the decline of over-leveraged financial companies. He has warned as far back as the 2012 annual meeting that Canada’s housing prices could be too high. Link to comment Share on other sites More sharing options...
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