Relevant:
- Hungary: Controversial Swiss franc loan law goes into effect
- Hungary DIDN'T Get Hit By Swiss De-Pegging - Orban Kicked Out Predatory Franc Loans And Has Muzzled Banksters
- Hungary to Fix Exchange Rate on Household Mortgages, Will End Eviction Ban
- Hungarians Battle to Keep Homes in Face of Strong Swiss Franc
- Austrian Banks Face Hungary ‘Debt Slave' Revolt
2012-03-26 — bloomberg.com
Hungary's residential real-estate industry ground to a halt after foreign-currency mortgages, which fueled a boom before they were banned in 2010, saddled homeowners with ballooning repayments when the forint sank to a record and prompted buyers to flee the market. The slump in demand forced home construction to fall last year to the lowest level since the government started collecting data in 1930 as Hungarian banks booked hundreds of billions of forint in losses.
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