A Housing Bubble in Europe?

Fast-rising prices and household debt levels could lead to trouble -- at least in some countries

The latest annual housing data, published in the European Central Bank's June monthly report, show that house prices in the euro zone rose 7.6% year-over-year in 2005, after gains of 7.2% in 2004 and 6.8% in 2003. Other housing market indicators suggest that house prices in the euro zone are continuing to climb through early 2006.

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