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Is this the Beginning of a Globalized Housing Downturn?


sancho panza

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For those who don't follow Wolf Richter, I really can't reccomend him enough for the independence of his thought,the careful and balanced nature of the evidence he puts forward, and the balanced conclusions he reaches.

 

Here he talks about the turn in frothy housing markets shown by falling volumes,falling prices,falling volumes.....the media turning form pumping the housing market to tlaking it down.....Silicon valley dropping first annula drop since 2009.. Vancouver West down 3% annually........local buyers can't afford to step in after international hot money pulls out....new house sales etc etc.Well worth 13 minutes.

 

https://wolfstreet.com/2019/02/03/the-wolf-street-report-beginning-of-globalized-housing-downturn/

Housing has became a global financialized asset class. The possibilities seemed unlimited. And this flow of money, along with local factors, has created enormous distortions in some markets. But the priciest markets are now starting to experience price declines. This includes the priciest markets in the US, Canada, Australia, the UK, Hong Kong, and others. So, is this the beginning of a globalized housing downturn? (13 minutes):

 

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reformed nice guy
25 minutes ago, sancho panza said:

So, is this the beginning of a globalized housing downturn? (13 minutes):

 

Good video.

One thing that isn't mentioned is the demographic change. In developed countries, and China too, the number of people aged 16-35 has decreased in aggregate. These would be your prime house buying segment.

What a coincidence that TPTB are wanting to import large amounts of men of that age range....

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