5 months ago • 3:26 mins
Covid caused a lot of things to slow – but not the global housing market. Consumers emerged from lockdowns flush with savings and looking for bigger, better work-from-home spaces. And mortgage rates at invitingly low levels helped fuel a home-buying frenzy. Now, though, rising interest rates and red-hot inflation have made homes and mortgages less affordable, increasing the risk of a crash in the global housing market, particularly in certain countries, and threatening to worsen a worldwide economic downturn.
Demand for housing is waning as mortgage rates increase, making homes less affordable, and causing potential buyers to pull away from the market.
There are two main reasons why mortgages have become significantly less affordable this
Morgan Stanley’s prestigious wealth management unit has been selling off some US stocks to boost its exposure to developing economies. Russell explains why it’s betting so big
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You can still expect a lot of whipsaw price action, but Jon’s got three reasons to believe the worst may be over.