'The global house price crash is coming. Get ready.

The global collapse in the real estate market has been gathering momentum for the past year and continues to gain momentum. In Sweden, real estate prices have fallen 15 percent from their peak in March last year and are not stopping falling yet. In some parts of the country, prices have fallen as much as 40 percent.

In Denmark, prices fell 10 percent last year, and the decline is now accelerating. Data from the International Monetary Fund shows they have already fallen 5.91 percent in the first three months of this year. And Scandinavia is far from the only one on that list. In Australia, prices have fallen 7.9 percent year-over-year, the biggest drop in the country's history. They are predicted to fall another 10 percent this year. New' real estate market'Zealand has fallen more than 20 percent from its peak in November 2021 and continues to fall. In Canada, prices have fallen 15 percent and are expected to fall another 12 percent this year.

But not all countries were in a state of collapse. In France, real estate prices remained stable last year but are expected to fall by seven to 10 percent in 2023. The Bank of Germany has also remained stable, although Deutsche Bank macroeconomic analyst Jochen Mebert said prices could potentially fall by 20 percent, although a smaller drop is more likely. The U.S.

And what about the UK? UK property prices actually rose by 1.2 percent in February according to Halifax. They rose another 0.8 percent in March. For the year, they are up 1.6 percent. This makes little sense, as we all know that real estate in the UK is overvalued. For decades, the average cost of housing was around three or four times annual salaries. Today it costs more than nine times wages and more than twelve times in London. What did the Bank of England expect when it cut the prime rate to zero and held it at that level for a decade? As a result, mortgage rates fell to 0.99 percent, and we all knew that''The onslaught has come. It almost happened last fall, when mortgage rates topped 6.5 percent after former Chancellor Kwasi Kwarteng's mini-budget frenzy. Rates have since returned below four percent, but if inflation stays where it is now, they could start to rise again. So, will the UK finally be part of the global real estate crash?