House prices are going ballistic
Policymakers need to keep their heads
ONE OBSESSION unites the rich world: housing. In the past year billions of people have been cooped up inside their homes for hours on end. As restrictions have eased, house prices have started to go through the roof. In America prices increased by 11% in the year to January, their fastest pace in 15 years. In New Zealand prices are up by 22%. Among the 25 countries that The Economist tracks, real house prices rose by 5% on average in the latest 12-month period, the quickest in over a decade.
This article appeared in the Leaders section of the print edition under the headline “Don’t stop me now”
From the April 10th 2021 edition
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