Playlist: Macro

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Quarterly Outlook: Housing bubbles everywhere
Dembik Christopher
Thursday at 12:58 GMT
From the Floor: 'This is a major breakout' — #SaxoStrats
04 January 2018 at 8:12 GMT
From the Floor: Weak greenback directs markets
03 January 2018 at 9:07 GMT
From the Floor: USD faltering as liquidity returns
02 January 2018 at 8:28 GMT
From the Floor: Sentiment rules equities; oil stuck in a rut
15 December 2017 at 8:38 GMT
Video / Thursday at 12:58 GMT

Quarterly Outlook: Housing bubbles everywhere

Dembik Christopher
   • Real-estate bubbles in multiple countries
   • Norway likely the riskiest housing market
   • Systemic risk remains limited

By Christopher Dembik

We are in a world of bubbles fuelled by accommodative monetary policy and excess liquidity. Bubbles in financial assets are worrying, but they usually affect a smaller part of the population than do those in the property market. 

The most risky real estate markets we see are Australia, London, Hong Kong, Sweden, and Norway. All of these markets share these two features: home prices are decoupled from local incomes, and the real economy is experiencing distortions linked to monetary policy, such as a surge in lending and/or a boom in the construction sector.  

Saxo Bank's strategy team is out with their take on world markets for the first quarter of 2018. Download your copy now.
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