The Global House Price Slump
In 2008, the crash of the world’s housing markets, which began in the US in 2007, precipitated the world’s most severe economic crisis since the Great Depression.
Inflation-adjusted house prices fell in more than 21 countries out of the 29 for which Q3 figures are available. In no country is there cause for strong optimism. The latest quarterly figures bring grim news, even in countries which recently saw price rises.
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