Why house prices have risen once again
Across the rich world, they have brushed off higher rates. Can that last?
In parts of San Francisco, the housing market is in dire straits. Consider the example of one swish apartment close to City Hall, with quartz countertops and a rooftop deck, which in 2019 sold for $1.25m. Not today. After the chaos of the covid-19 pandemic, City Hall now overlooks the locus of the city’s drug problems. Biblical scenes of lawlessness and human suffering play out every night. The flat is now listed for $769,000—and has yet to sell.
This article appeared in the Finance & economics section of the print edition under the headline “Walking on air”
Finance & economics November 25th 2023
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- Why house prices have risen once again
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- The rich world claims it has paid its overdue climate debts
- Another crypto boss falls
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