Housing correction anyone?

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From Sunday’s New York Times:

The American housing boom in recent years is nothing compared with the price run-up in countries like France, Spain, Britain, Ireland, Sweden and Australia, even though markets in Australia and Britain have cooled in the last year.

Cooled? This from today’s Guardian:

House prices [in Britain] fell in April and annual price inflation dropped almost 50% from March, according to official figures published today.

The Office of the Deputy Prime Minister (ODPM) said the average price of a UK property was £181,832 in April, down 0.8% on March’s figure of £183,346.

Annual house price inflation across the UK fell from 12.6% in March to 6.9% in April, while in London the year-on-year price increase fell from 9.8% to just 2.7%. [emph. added]

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily bluster—Mother Jones' journalism is driven by one simple question: Will America move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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