Experts Warn Housing Affordability Will Likely Worsen, Even As Prices Cool
Home prices in the major world housing markets that have soared since the COVID-19 pandemic began have likely peaked, but affordability is set to remain stretched or worsen in the next few years, according to a new Reuters poll of experts. Reuters poll of more than 100 property market experts taken Aug. 10-25 covering eight markets – the US, Canada, Britain, India, Australia, New Zealand, China and Dubai – mostly predicted price increases over the next two years would slow. But house price inflation is still expected to outpace wage increases, especially when rising material costs are taken into account. Out of 94 poll respondents, 49% said housing affordability would worsen across all markets in the next few years, and…