The IMF’s Global House Price Index, an average of real house prices across 57 monitored countries, continues to climb.
The index shows sixteenth consecutive quarters of positive year-on-year growth. However, house prices are not rising everywhere around the world.
Three Different Paths Since 2000
National Index vs. Major Cities
Price Divergences
Mish Comments
Figure 1 screams “global bubble” even though some countries did not participate. Australia and Canada are the the center of the bubble along with some countries I was unaware of.
China is also in a massive bubble but that’s not what Figure 2 suggests.
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