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Mortgage volumes in Europe have collapsed. Buyers can now not finance themselves with loans on the degree of earlier years as a result of considerably greater rates of interest.
And but, the ECB has not but spoken its final phrase on tightening financial coverage.
Raising rates of interest additional will neither cease inflation nor stop the true property market’s collapse.
The ECB is helpless within the face of modifications on this planet vitality market and is in a good spot. That the primary peak of inflation is behind us doesn’t imply that the explanations for the continued inflation have disappeared.
Many warned a number of occasions about the true property market, particularly in China (the place omens for the storm final yr introduced the autumn of Evergarde).
Now, sadly, the situation appears to be materializing. The graph speaks greater than phrases.