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Belgium Housing Bubble Starts To Pop

Eurostat just released an update on the house prices in the Euro Area. I am actively following this to follow up on the Belgium housing market, which I think is in a bubble.

The latest release on housing prices can be found in this report.

The trend is obviously down since the crisis of 2008. So it is still not a good time to buy a house. Renting is a lot better. As a matter of fact, I just had a walk around my area with the dogs and I've seen so many homes for sale it's not funny anymore. Belgium is the least affordable country in the Eurozone to buy a house.

Looks like Belgium is down 1.1% quarter over quarter and I expect it will get worse.