The American property market is once again looking bubbly
Soaring mortgage rates have yet to cool exuberant demand
IVY ZELMAN knows a thing or two about the American housing market. She was rare among mainstream analysts in warning of trouble in 2005, a year before the bubble started to burst. In 2012, when many investors were reluctant to get back into property, she declared the sector had hit rock-bottom; prices have more than doubled since then. So it is worth paying attention to her latest pronouncements. “It’s euphoric right now,” she says. “There are definite signs of excess.”
This article appeared in the Finance & economics section of the print edition under the headline “FOMO froth”
Finance & economics April 9th 2022
- Are labour markets in the rich world too tight?
- The Federal Reserve prepares for quantitative tightening
- The American property market is once again looking bubbly
- Bonds signal recession. Stocks have been buoyant. What gives?
- Omicron is dealing a big blow to China’s economy
- HDFC Bank’s merger marks a milestone for India
- Has the pound become emerging-market money?
- China has a celebrated history of policy experiments
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