#43 What's happening in the housing market Jordan?

In this episode I welcome back one of the shows most popular guests.  Jordan Buchanan is the Chief Economist of the property portal PropertPal, and it's been six months since I have had Jordan on the show.  So much has happened since our last conversation, I have become a little unclear as to where our property market is right now in N Ireland.  Interest rates for example reached their highest point in 1981, levelling off at just over 16%, which is pretty unthinkable in this day and age, however since that time and up until 2021, rates went down to almost zero in many jurisdictions across the world. The world has changed insurmountably in the last 18 months given the pandemic and the most recent disaster zone, namely the ongoing war in Ukraine, and this really has caused all kinds of trouble across so many countries, businesses and ultimately households, as we are now in the middle of a cost of living crisis, which is quite new to most people middle aged and under, who are experiencing these shocks to our economy for the first time. In this conversation Jordan eloquently summarises what has happened in the last two years in our housing market, to include the QE policy measures that undoubtedly assisted the housing market and dare I say it, facilitated a housing boom right across the UK and Ireland. Interest rates, inflation and labour markets are causing all kinds of volatility, and we get into a fair bit of detail as to how all of this impacts the market and how things may play out over the next twelve months. For anyone interested in the economy, the property market, and just generally trying to improve your understanding into some of these big ticket items like inflation and cost of living crisis, you will get great value from this podcast. Finally next month we are re-launching our recovery and restructuring business. The bottom line is that we accept the economy is heading towards a downward trend, and given the experience we have at GDP, we feel compelled to try and help, save, restructure as many businesses as possible.  If you or you know someone who might be concerned about this, then you can reach me at [email protected] As ever, a review would be great if you have a moment, and please share this episode with a friend. Until next time, look after yourself, and each other, CD