ECB second giant to taper. Bank of Japan already ended QE. Bank of Canada shed 15% of assets. UK, Australia are tapering. New Zealand quit cold turkey
Nothing Goes to Heck in a Straight line, not even the dollar’s hegemony.
The sector was already hit hard by Brexit, then by lockdowns, and now by working from home as companies plan to cut floor space.
“An upside surprise to inflation is among the greatest risks.”
“It’s impossible to know how many of these shuttered hotels and hostel will reopen.”
Mortgage applications spike to record, while 130,000 homeowners are on mortgage holidays, 500,000 on tailored payment plans, and over 1 million are in unmortgageable apartments due to the flammable cladding crisis.
The Big Taper starts one central bank at a time. But you gotta keep the markets from swooning with a bit of welcome delusion.
The BoE is assessing if contagion from this scandal could spread to the broader housing market and cause a new financial crisis.
Central banks still brush it off as just “temporary.”
I am the mother-in-law of Nick Corbishley, author of “365 Days with my Mother-in-Law: Boots on the Ground View of Barcelona’s Economy.” This is my side of the story.