Part 3/11:
In traditional finance, the 30-year mortgage rate has shot up to 7.22%, its second-highest point since 2000. This sharp increase significantly constrains housing affordability, effectively putting homeownership out of reach for many and stunting real estate development. Critics argue that current monetary policies aimed at combating inflation are inadvertently choking the housing market, further exacerbating economic inequalities.
Global Economic Indicators: A Portrait of Decline
Advanced economies are showing troubling signs:
- Multiple countries—including Luxembourg, Israel, Austria, Canada, the Czech Republic, Estonia, Finland, the UK, and Sweden—are experiencing negative GDP growth in Q3 and Q4 of 2023.