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The Global Housing Boom is Running out of Steam

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“If the global housing boom is finally running out of steam, how far will prices fall? Analysts at Capital Economics, a consultancy, forecast modest drops of 5-10% in America and Britain. In these countries, homeowners are less likely to be forced to sell by rising mortgage costs since fixed-rate loans are common. In Australia and Sweden, the analysts reckon prices could slip by 15%. With higher levels of household debt, and thus more exposure to rate rises, Canada and New Zealand are most vulnerable—prices in these countries could fall by 20%.”

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