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News Link • Economy - International

French Housing "In Total Meltdown", "Current Figures Are Disastrous"

• http://www.zerohedge.com, Tyler Durden

The most recent case in point, aside from the already sliding French economy, whose recent contraction can be best seen be deteriorating PMI data...

... which hints at the dreaded "triple dip" recession, nowhere is the economic collapse in France more evident than in its housing market which as even Bloomberg admits, citing industry participants, is now "in total meltdown."

The reason? The belief of the socialist president that a few economists know better than the overall market, especially when the sanctity of the "fairness doctrine" and the greater good is to be upheld at all costs. To wit: "French President Francois Hollande's government may have made a housing slump worse, pushing the construction market to its lowest in more than 15 years. Housing starts fell 19 percent in the second quarter from a year earlier, and permits -- a gauge of future construction -- dropped 13 percent, the French Housing Ministry said yesterday."

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