Arcachon
20-05-21, 10:06
The Covid effect
In an unexpected twist, the pandemic has benefited house prices.
That's because governments around the world helped homeowners by temporarily banning repossessions and providing trillions of dollars of support for workers and businesses. Interest rate cuts kept mortgage repayments affordable in many places, while temporary reductions to purchase taxes in some markets spurred home buying.
These measures cushioned the housing market from the coronavirus recession. But the pandemic itself has actually turbocharged prices.
"If you lock up the vast majority of the population for months, they [rapidly reassess] what they want from their homes," said Richard Donnell, research director at UK property platform Zoopla.
https://edition.cnn.com/2021/05/13/business/global-real-estate-prices/index.html?fbclid=IwAR0QLAoZR1qKiOCbLiSKeMjeRprN4mZwpP_SisXbDWQ3-uY1coMh5NokRSY
In an unexpected twist, the pandemic has benefited house prices.
That's because governments around the world helped homeowners by temporarily banning repossessions and providing trillions of dollars of support for workers and businesses. Interest rate cuts kept mortgage repayments affordable in many places, while temporary reductions to purchase taxes in some markets spurred home buying.
These measures cushioned the housing market from the coronavirus recession. But the pandemic itself has actually turbocharged prices.
"If you lock up the vast majority of the population for months, they [rapidly reassess] what they want from their homes," said Richard Donnell, research director at UK property platform Zoopla.
https://edition.cnn.com/2021/05/13/business/global-real-estate-prices/index.html?fbclid=IwAR0QLAoZR1qKiOCbLiSKeMjeRprN4mZwpP_SisXbDWQ3-uY1coMh5NokRSY