The Economist (October 22)
“House prices are now falling in nine rich economies…. In condo-crazed Canada homes cost 9% less than they did in February. As inflation and recession stalk the world a deepening correction is likely.” Falling home prices are unlikely to lead to a global banking crisis, but “it will intensify the downturn, leave a cohort of people with wrecked finances and start a political storm.”
Tags: Banking, Canada, Condo, Correction, Crisis, Deepening, Downturn, Falling, Finances, House prices, Inflation, Intensify, Political storm, Recession, Rich economies, Wrecked
ABC News (December 18)
“Australia has sweltered through its hottest day on record as the ongoing heatwave starts to bite across parts of the country. The Bureau of Meteorology says the national average for yesterday was 40.9 degrees, eclipsing the previous record set just six years ago. But forecasters say the record could be broken again, with the heat set to intensify over the next two days.”
Tags: Australia, Broken, Forecasters, Heat, Heatwave, Hottest, Intensify, National average, Record, Sweltered