Real Estate Collapse all over the World

Yes, real estate prices are collapsing all over the world. From Dublin, Ireland, to Spain, to some other interesting places. It's amazing what crazy speculators would do once they heard that the US market was freezing up. International speculators were buying houses in Eastern Europe and Russia. Activity in Southern India and they say even China is reported.

Why did it happen? The conventional explanation is because the subprime, ARMs, and other exotic mortgages were introduced. But, let us have it the other way around. The exotic mortgages were introduced, because the real estate bubble was ready to collapse already about five years ago. So desperate financiers introduced all these exotic mortgages to keep the game going for another round. Ha ha, it shows you who the real suckers are, the American and other public blocs of citizens.