A new study by the International Monetary Fund (IMF) suggests that house prices around the world have a growing tendency to follow one another, behaving more and more like the stock markets. Looking at 44 cities, the IMF found that the growing globalisation of financial markets is directly impacting property prices. What does this suggest? That the housing market, especially new housing developments, are speculative and targeted at people wanting to invest in properties, rather than looking for a home to live in - a problem experienced especially by first time buyers in big cities across the world.
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