Callum Williams, Senior economics writer at The Economist, dives into the stubbornly high property prices in the West, defying financial expectations. He discusses the surprising resilience of housing markets despite rising interest rates and inflation, contrasting today with the 2008 crisis. The conversation also examines Botswana's diamond industry and its potential challenges, while touching on the plight of Georgia's peach farmers facing a catastrophic freeze. Innovative strategies are explored as farmers adapt to climate change, revealing their deep connection to the land.
Much to the chagrin of hopeful first-time buyers, property prices remain stubbornly high across the West. Our correspondent explains why housing is defying the laws of financial gravity. A new diamond deal in Botswana risks jeopardizing the country’s sparkling record. And why a failed crop of peaches will not cripple America’s Peach State.