Higher interest rates shattering housing dreams worldwide

Higher interest rates shattering housing dreams worldwide
An auction of a property in Sydney, Australia. (Image: Bloomberg)
Bloomberg
By Ari Altstedter, Ainsley Thomson and Prashant GopalThe shock that rippled through global housing markets as central banks rapidly raised interest rates last year has given way to a cold new reality: the real estate bonanza that fuelled wealth for millions of people is over.Markets around the world are caught between sharply higher borrowing costs – likely here to stay – and a shortage of homes that's keeping prices elevated. That's made housing in many areas even less affordable, while property owners with resetting l...

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