PHOTO:The aerial view shows a housing estate in Duesseldorf, West Germany, on May 8, 2020. (Photo by … [+] AFP VIA GETTY IMAGES
Historical data from the late 1990s show a financial crisis is often followed with a steep increase in housing prices. If real estate grows in a similar manner as the 2000s, safe haven assets like gold and potentially Bitcoin may follow.
The housing market is projected to see a steep sell-off in the second half of 2020. The U.S., Japan, South Korea, Singapore, and other hot markets are struggling with declining demand.
Highly-populated markets like Makati, Philippines, which saw housing prices spike to record high levels in recent years, are also expected to see a 15% to 20% drop in value by the year’s end.
The medium-term trend of the housing market remains gloomy. But, a study shows that the next correction will mark the start of a strong housing market recovery.
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