Japanese lender Aozora Bank Ltd. plunged for a second straight day after saying it would have its first loss in 15 years because of bad loans tied to US property.
Main effect on the housing market right now comes from the interest rate hikes. Since people can’t afford to pay the mortgage with such high interest, the market ends up cooling because people can’t sell their homes. I think the commercial housing market is the one that’s the bigger problem though because of increased trend to work from home. Office spaces aren’t renting nearly as much anymore, and that also affects all the businesses that were supported by workers who came to the offices.
Main effect on the housing market right now comes from the interest rate hikes. Since people can’t afford to pay the mortgage with such high interest, the market ends up cooling because people can’t sell their homes. I think the commercial housing market is the one that’s the bigger problem though because of increased trend to work from home. Office spaces aren’t renting nearly as much anymore, and that also affects all the businesses that were supported by workers who came to the offices.