Are You Bracing for Job Losses in the Property Industry?

2min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

The Fed's moves have pushed up mortgage rates in the US to 14 year highs. And as the cost of home loans go up, home sales are going down. People who work in the property industry are bracing for job losses. To find out more, I'm joined by the FT's Taylor, Nicole Rogers.

Britain’s largest global law firms are struggling to attract and retain staff in the US after the sterling’s drop in value, and the European Commission’s vice-president warned the Federal Reserve’s interest rate rises could lead to a global recession. Plus, the FT’s Taylor Nicole Rogers reports that higher mortgage rates are weighing on the US property industry.

Mentioned in this podcast:

Sterling slump threatens US expansion plans of 'magic circle' law firms

Fed-led dash for higher rates risks ‘world recession’, warns EU’s top diplomat

US property sector braces for job cuts as rate rises crush home sales

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.