The
shift regarding to average house prices in sundry districts from 1990 to 2002,
compared with that in 1989, is demonstrated by the bar chart in graphic detail.
As
can be seen from the chart, the dozen of years (1990-2002) is artificially
split into two equivalent periods, 1990-1995 and 1996-2002, and there is a
noticeable ascending trend of price in most of the cities. Specifically, in New
York, which records the most remarkable increase, the ratio is nearly doubled
from -5 percent to 10 percent. Likewise, the tendency goes to Madrid, Tokyo and
London as well, with 2% to 4%, -7% to -5% and -7% to 12% respectively.
Only
in Frankfurt, on the contrary, is the city that goes through a decline, from
approximately 3 percent to 2 percent, which recalls people’s memory of the disastrous
implication of 1997 economic downturn vividly.
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