According to the Bank of England, the availability of mortgages declined dramatically in the three months ending May 2020 – implying a bigger credit squeeze than in the worst three-month period of the global financial crisis.
Chart of the Week: Historical Chinese Residential Property Market Trends
It would be unremarkable were house prices increasing as a function of total home purchases,
however, this graph shows that the key driver of HPI rises is not the fundamental demand for
housing. Rather it is in response to…