Bostadpriser "from Sydney to Stockholm" China OECD
Surging prices and stagnant wages over the last few decades have pushed real estate out of reach for young buyers from Sydney to Stockholm.
For 19 countries in the Organization for Economic Cooperation and Development, the average price-to-rent and price-to-income ratios are higher now than before the 2008 financial crisis.
China’s challenge is particularly daunting, even for an authoritarian regime with plenty of levers to pull. Home prices in Beijing and Shanghai have jumped tenfold and twelvefold, respectively,
“If you want to improve affordability without having a systemic crisis, you don’t actually want house prices to fall. You want them to stabilize and incomes to rise,”
Bloomberg Businessweek 28 december 2022
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