2022 was a shocking year for the world economy, with the Ukraine war pushing up inflation and oil prices, causing economic disruption and lower growth. But, the IMF and World Bank predict 2023 will be even worse with major economies being pushed into a recession by the twin pressures of high inflation and high interest …
A look at the major trends in UK housing in the past century, including the trends on housing tenure, house prices and the supply of new houses. Victorian housing The Industrial Revolution saw rapid growth in inner cities as people flocked to the city for new factory jobs. This accommodation was often hurriedly built by …
Source: ONS NPEN Total UK Business investment since 1997. After sharp fall in 2009 due to global recession, investment recovered quite strongly. In 2016, Investment fell, at least in part, due to the uncertainty of the Brexit vote and leaving the Single Market. The covid pandemic caused another sharp fall in investment. The poor investment …
A look at the economic impact of falling house prices. Readers Question: Explain why a decrease in the price of houses can lead the economy to experience a recession. In summary: falling house prices reduce consumers’ main form of wealth. This tends to cause lower spending and lower economic growth due to a negative wealth …
The past couple of years have seen a surge in house prices around the world. This has pushed house price-to-income ratios to record levels – in many cases, outstripping the last boom of 2007. This is a major warning signal prices are unsustainable and in recent months, prices have started to fall rapidly, with at …
Since the end of 2019, the US economy has grown at the fastest pace in the G7. President Biden can claim the fastest job growth of any president. Yet despite strong growth in jobs and GDP, there are record low levels of dissatisfaction as Americans feel the pinch of inflation and falling real wages. Firstly …
Britain is facing a chronic backlog in many public services. This includes record NHS waiting lists, a shortage of housing, delays in the criminal system, and a surge in unprocessed asylum requests. On top of this, there is a cost of living crisis, falling real wages and the highest level of strikes this century. It …
In recent years, the UK private rental market has seen a surge in demand, and the average price of renting rising 40%. Yet it is the least favoured form of housing tenure, with many renters paying an increasingly unaffordable share of income on rent. The crisis costs the government £27 billion in housing benefits, leads …