Wednesday, June 20, 2007

I'm Back

I was out of the country this last week. I hopped down to Rome to have a look around. A great city if you like history. That wasn’t my motivation for going however.
I noticed that I have seen no information indicating a housing bubble in Italy. I traveled mostly in Rome but kept my eyes peeled for the signs of over exuberance that mark so many other bubble cities. Things like building cranes standing above rooftops like runaway weeds. No such story.

There are signs of building but not to the level of say, Oslo, where building cranes now dominate the skyline. It could be that Italy was passed by, by the great speculation boom in property of the last five or more years.

There were a lot of restoration projects underway in the city of Rome, but that’s a horse of a different color. Being a tourist destination I would consider that a good investment in their future, bound to keep tourists coming back and leaving dollars well into the future.

I will keep an eye on it though, just for curiosity’s sake.
Vern

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