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Europe in a housing downturn?

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  • Published On: August 08, 2008
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LN Mittal, CEO of ArcelorMittal, may have spent $300 million on homes in London, the most stable and mature real estate market in the world. But now even London is seeing unstable returns. This is a bad signal as Europe goes into a housing downturn for the first time, with markets like Spain seeing a 15-20% correction.
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