| In Nov. 2008, just as the subprime-mortgage bust in the U.S. was driving the world financial system into meltdown, European Union finance ministers had an idea: Let’s add real-estate prices to the list of indicators we use to assess the economic situation in the euro zone.
Four years and two months later, Eurostat, the EU’s statistics agency, finally released its first EU-wide house-price index on Thursday. The headline result was somewhat underwhelming. Residential-property prices in the euro zone were down 2.5% in the third quarter compared with a year earlier. ..............................................Full Article: Source
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