A selection of headlines and quotes from today's SCMP Property Post show just how much divergence there is in property markets around the world:
Hong Kong: "fierce bidding at land auctions shows developers are expecting the market will maintain its [upwards] momentum"
Thailand: "Huge demand sustains Bangkok boom"
Singapore: "Singapore prices to keep rising"
Malaysia: "Property mania brewing in Malaysia"
Canada: "Canada's cooling market may avoid crash"
United States: "US faces grim choice over owners as home sales and prices plummet"
Britain: "British prices fall quicker than expected and building slows"
It's also fair to say that the markets which are experiencing property price increases are those where the governments have spending under control to a far greater degree than those which are suffering. Of course, there are other factors at work as well.