High Interest Rates Are Crushing the Global Real Estate Market: Big … – Bloomberg

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Over the last decade, a worldwide housing boom helped millions of people build wealth. Now, stubbornly high interest rates have brought that era to a close. Many would-be homeowners find themselves locked out of the market and people who already own — and have fixed mortgages with low rates — have no incentive to sell and move on to another property. The details vary from country to country, but similar dynamics are playing out across the globe, threatening to widen inequality from the US and Canada to New Zealand and the UK.

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