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The Economist: Apartment prices will fall "downhill", dramatic reductions in the markets!

2022-10-22 13:43:30Aktualitet SHKRUAR NGA REDAKSIA VOX

The Economist: Apartment prices will fall "downhill", dramatic

Over the past decade, it was somewhat easier to buy a home. But prices rose incredibly for several years in a row, peaking during the pandemic.

And if the wealth of your life ties into a pile of bricks and mortar, it's really time to get nervous. And yet, now there seems to be a light at the end of the tunnel.

According to The Economist, house prices have started to decline. In the US, the decline is still not very significant, in other markets it is considered almost dramatic. In Canada, the article says, houses cost 9% less than in February.

At a time when inflation and recession have taken over the world, the big change seems to be happening in the real estate market, whose agents are starting to worry.

The good news, The Economist continues, is that falling apartment prices won't cause an epic financial crunch in the US like the one 15 years ago. The country has not received many loans that could worsen the situation and has capitalized banks. However, taxpayers will suffer.

Through state insurance schemes, they bear the risk of non-payment, it is emphasized in the article. As rates rise, they will be exposed to losses through the Federal Reserve, which owns a quarter of mortgage-backed securities.

When prices fall, the prestigious magazine says, homeowners may find that the homes they own are worth less than their mortgages, compounding the situation -- a problem that has plagued many economies since the global financial crisis.


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