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Tulip Mania
(redirected from Tulip bubble)

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Tulip Mania
History's first major asset bubble. Tulips were introduced to Europe from the Ottoman Empire in the mid-1500s and became very popular in the Netherlands. As they grew in popularity, prices for tulips rose steadily, then unsustainably, in the 1630s. Prices suddenly collapsed in February 1637. Interestingly, tulip mania resulted in the creation of a formal futures market and marked one of the first times when contracts were traded without exchanging the underlying asset.
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Once the tulip bubble burst, there were too many tulips and too many people who could grow tulips.
Nevada suffers as rest of U.S. recovers by J. Patrick Coolican / Las Vegas Sun
Four-hundred years after the devastating burst of the tulip bubble -- at the height of which single bulbs were worth several times people's annual incomes and were being traded for land, livestock and houses -- Dutch flower exports now fetch billions of euros a year.
Dutch flower exports wilt amid world economic downturn by AFP / AFP Global Edition
Unlike the tulip bubble in 17th-century Holland (where the price of rare tulip bulbs rose to levels higher than many large homes and estates), there is real value in Lebanese property - but it remains unclear exactly how much.
Banque du Liban uneasy about booming real estate market by The Daily Star (Beirut, Lebanon)
 
 
 
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