In September the trend continued unchanged and the house prices were increasing even further (+81% compared with June 2013). However, less units are exchanging hands, a sign that the pricing is hitting a top limit and more and more people are unable to reach that threshold.
But what's hilarious about this, is that the Dutch National Bank is acting now as a responsible parent and tells its children not to eat so many candies, when in advance they put free snoopjes in everyone's pockets.
The DNB Dutch national bank has expressed serious concerns that house prices are too high and people, especially first-time buyers, are taking on too much debt, while Dutch banks are not holding enough in reserves.
The Netherlands has the highest percentage of mortgage debt in the European Union, and the DNB this month called for stricter borrowing standards, and scrapping tax breaks for all home owners and first time buyers in order to achieve ‘a more balanced housing market’.
No shit ?! Really ? The people are taking too much debt? And who's giving away these mortgages with no concern anymore about risks ? The BANKS*! The ones that DNB is actually parenting. But no word whatsoever about the head of all the problems related to credit and Eurozone, called European Central Bank. You know, the one that thinks that negative interest rates are a positive thing, and creating 80 billions per month out of thin air has no impact whatsoever on assets, inflation and in the end poverty.
So instead of being vocal against lenders and commercial banks, DNB (kinda outdated since the Netherlands has no own currency now) could point to their overlords who basically transformed the financial sector in a central-planned socialistic beast, and also to the Government, who in the name of greater good is screwing everyone up.
*including here all the financial funds or whatever that are in this business of lending money
