The global financial system is showing strains as rising interest rates spark turmoil in Western banks. Besides turmoil in the financial sector, another part of the global economy might be cracking, and that’s the luxury home market.
A new report from real estate consultancy Knight Frank reveals luxury home prices in 46 cities across the world slid .4% year-over-year in the first quarter, the first drop since 2009, and is a steep decline from 10% of growth in the fourth quarter of 2021, according to Bloomberg .
Knight Frank’s report showed luxury home prices in Wellington, New Zealand; San Fransico, California; and Vancouver, Canada, recorded the most significant declines. Inversely, luxury home prices were higher in Dubai and Miami. “The slowdown in growth has overwhelmingly been driven by sharply higher interest rates following a recent tightening in global monetary policy,” Liam Bailey, Knight Frank’s global head of research, wrote in the […]
Read the Whole Article From the Source: www.zerohedge.com
It’s becoming increasingly clear that fiat currencies across the globe, including the U.S. Dollar, are under attack. Paper money is losing its value, translating into insane inflation and less value in our life’s savings.
Genesis Gold Group believes physical precious metals are an amazing option for those seeking to move their wealth or retirement to higher ground. Whether Central Bank Digital Currencies replace current fiat currencies or not, precious metals are poised to retain or even increase in value. This is why central banks and mega-asset managers like BlackRock are moving much of their holdings to precious metals.
As a Christian company, Genesis Gold Group has maintained a perfect 5 out of 5 rating with the Better Business Bureau. Their faith-driven values allow them to help Americans protect their life’s savings without the gimmicks used by most precious metals companies. Reach out to them today to see how they can streamline the rollover or transfer of your current and previous retirement accounts.
