Is there a global housing market bubble?
One of the unexpected consequences of the pandemic in this country, a boom in house prices, is often put down to factors specific to the UK, including Rishi Sunaks decision to offer a stamp duty holiday and, in his March budget, to extend that cut this year. What is clear, however, is that while the chancellors move may have helped to propel house-price inflation into double figures on several measures, and higher in many parts of the country, the UK is not alone. A global house-price boom has been unfolding. Soaring house-price inflation is part of what some see as a worldwide inflation problem. If inflation is too much money chasing too few goods, the global house-price boom is too much demand rubbing up against