Posted 11/25/2023, 5:02:43 AM
Housing Bubble Risks Deflate As Prices Drop in Major Cities
- House prices in major cities fell 5% on average last year due to higher interest rates, reducing bubble risk
- Only Zurich and Tokyo still remain at high risk of a housing bubble bursting
- Cities like Frankfurt, Munich, and Amsterdam have dropped from bubble risk to overvalued
- The surge in inflation and interest rates has shaken the housing market like a house of cards
- Despite price declines, housing still remains unaffordable compared to incomes in cities like London and Paris