Main image: Housing markets with the largest gains since the GFC saw price corrections in 2018-2019, significantly reducing price pressures. Along with policy support and favourable financing conditions, this should soften the blow from imminent income falls just enough to avoid a global house price crash.
Covid-19’s impact on global property markets ‘will likely be less than in the global financial crisis’
"A full house price crash [is] a distinct possibility," warns Oxford Economics as it assesses the potential fallout of the Covid-19 pandemic on global markets. But "a much more likely scenario is sideways movement or a modest price correction even in the most overpriced markets."
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