Isn't Europe about to collapse into a Sovereign Debt collapse BIG BANG this year (or next) according to Martin Armstrong's models. In what universe would that not mean a collapse in real estate prices and an increase in taxation??
Armstrong has also written about the bubble in real estate in Switzerland. He has also written about the real estate loans throughout Europe denominated in Swiss francs, that will blow up because of the abrupt and egregious appreciation of the franc since the Euro peg failed recently.
C-O-N-T-A-G-I-O-N.
The comments in this thread are interesting because it means there are some (most?) who still don't believe the contagion will affect all of Europe (are they correct?) and thus the stampede out of Europe will be abrupt as these people wake up to a contagion and try to all exit at the same time too late.
You know I agree that the direction the West is going is not good. I am just wondering if this can kicking cannot go on for a long time yet- just look at the freak show in Greece right now, it's like watching a punch and judy show. I think that there is some argument that as everything is falling apart, real estate in affluent major cities could retain some safety- see London for example where wealthy multinationals have been buying up huge chunks of houses, largely French and Chinese.
Doesn't Martin Armstrong also advocate getting a long term fixed rate mortgage right now if you can?
In a worst case scenario, I'd be out maybe 7000-9000 eur on fees and surveys, a state mandated insurance (that the borrower pays for) backstops the banks in case of default.
I see it one of two ways- best case I have a cash-flowing property in the long term, worst case, I along with the rest of Europe go into default.
Be sure I will be reading through my terms and if in the event of default I will still be on the hook for the mortgage in the event of bankruptcy I will seriously reconsider my position.
A good friend of mine also got married to a dutch and are living there. 
