Has The US Property Market Crash Started?
Has US Property Market Crash Started?
In this episode:
Market slowdown has already started in UK and US.
Sales activity slowing as mortgage rates soar.
Property slowdown usually follows a stock market fall, which has happened.
Affordability at record high
Average UK salary – £31,772 (2021)
Average UK house price £278,000 (March 2022)
278,000/31772 = 8.75 x average salary to buy an average property in the UK
Inflation over 8% in US and Eurozone, which means higher interest rates.
Higher rates could crash the already weakened economy.
How will UK market react?
A 20% drop in prices will still only leave us to the market was in 2020.
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