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Why house prices around the world are rising again

The economist

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Is a new housing boom coming? In April, the house price index for the world, excluding China, rose by more than 3 percent on an annual basis. US house prices are 6.5 percent higher than a year ago, Australian house prices are up 5 percent and Portuguese house prices are soaring. In other countries, the market is looking surprisingly strong, despite years of high interest rates.

These figures follow a difficult period. Adjusted for inflation, prices in Canada, Germany and New Zealand have fallen by 20 percent. In some US cities, including San Francisco and Phoenix, they are far from their peak. In Boise, Idaho, where prices soared during the COVID-19 pandemic as people sought housing, values ​​have fallen by more than a tenth.

The economist