The words: Calculate cost
As rising interest rates hit borrowers, we question whether the global housing market is heading for a severe recession.
Things are looking for the housing sector in late 2021.
House prices in countries in the Organization for Economic Co-operation and Development (OECD) are growing at the fastest rate in 50 years. And all of this is underpinned by low borrowing costs and savers having money to spend.
Now, a year later, things are not so bright anymore.
High inflation has led to central banks raising interest rates, wages not keeping up with the growing cost of living, and the economic consequences of the war in Ukraine will be felt for some time to come.
