The Intelligence from The Economist Home truths: a global property wobble
Aug 30, 2022
Vinjera Makandawire, The Economist’s global property correspondent, shares insights on the fading pandemic property trends and the instability of housing markets worldwide, while offering predictions for the future amid rising interest rates. Shashank Joshi, an expert on military affairs, discusses the complexities of urban warfare, emphasizing the logistical challenges and dangers of modern conflicts in cities like Mariupol. Plus, a lighthearted dive into the evolving grammar of 'data' adds a twist to the discussion.
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Housing Market Boom
- Cheap money post-2008 and during the pandemic inflated housing markets.
- This, combined with a shift towards spacious country living, drove up prices.
Pandemic Housing Trends
- Pandemic-era home sales soared as remote work opened cheaper options.
- This led to record-high prices, especially for properties with more space.
Housing Boom Decline
- Rising interest rates are deflating the global housing boom.
- Prices are falling in frothy markets like Canada and New Zealand.