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Trends and Insights

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27 Nov 2023

Global Interest Rate Hike Shatters Housing Dreams Around The World

The global real estate boom is over, following interest rates being rapidly escalated by central banks worldwide. The increased borrowing costs and shortage of houses keep prices high, making housing less affordable. This poses potential drag on global economies, as a significant portion of people's income is spent on housing. Homeownership for middle class is under threat, advantage lies for long-time owners with captured equity or no mortgage. [Source](