House prices in Halifax, Nova Scotia’s largest city, have risen by nearly 50% since December 2019
Some local factors are at play. People who had moved to distant Alberta to work in the oil industry lost their jobs in 2020 and moved back home. Out-of-towners are investing in local property in the expectation that eastern Canada will become a more desirable place to live as the climate changes. Nevertheless, the broader trend is mirrored across much of the world . The IMF’s global house-price index, expressed in real terms, is well above the peak reached before the 2007-09 financial crisis.
But is it? Certainly there is little evidence so far that the recent tightening in fiscal and monetary policy is provoking a slowdown. In the third quarter of 2021rose to an all-time high. Although New Zealand’s central bank has raised interest rates by 0.5 percentage points since October, there is only the mildest indication that house-price growth there is slowing. In 2021 the Czech National Bank repeatedly raised interest rates but prices are still moving up.
Fundamental forces may once again explain why house prices today are so high—and why they may endure. Three reasons stand out: robust household balance-sheets; people’s greater willingness to spend more on their living arrangements; and the severity of supply constraints.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Three WA Republican lawmakers attend Mike Lindell conspiracy event using public fundsThe ‘Cyber Symposium’ failed to deliver on its promise of ‘irrefutable’ evidence that the 2020 election was stolen by Democrats
Read more »
PM says Brits will soon need three jabs to travel abroad quarantine-freeHOLIDAYMAKERS will soon need all three jabs to jet abroad without having to quarantine, Boris Johnson warned tonight. At a Downing St press conference the PM hovered the risk of travel curbs over t…
Read more »
Man in court accused of murdering mother and three children in Killamarsh | ITV NewsDamien Bendall appears in court charged with the murder of a mother and three children and one count of rape
Read more »
UK Covid cases should drop in next one to three weeks, says expertProfessor Neil Ferguson said schoolchildren may now see a surge in cases of the Omicron variant.
Read more »
Man appears in court charged with murder of mother and three childrenA man has appeared in court charged with the murders of a mother and three children. Damien Bendall, 31, is accused of raping and murdering 11-year-old Lacey Bennett, as well as allegedly killing her brother John, 13, their mother Terri Harris, 35, and Lacey's friend Connie Gent, 11.
Read more »
Theranos jury returns to deliberations after deadlocking on three countsJurors had been deliberating for seven days after the 15-week trial in which the Theranos founder faced up to 20 years in prison
Read more »