Abodes well? The housing crash that wasn’t
The Intelligence from The Economist
The Economist
4.5 • 3.7K Ratings
🗓️ 20 June 2023
⏱️ 25 minutes
🧾️ Download transcript
Summary
Much to the chagrin of hopeful first-time buyers, property prices remain stubbornly high across the West. Our correspondent explains why housing is defying the laws of financial gravity. A new diamond deal in Botswana risks jeopardizing the country’s sparkling record. And why a failed crop of peaches will not cripple America’s Peach State.
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Transcript
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| 0:00.0 | Financial markets are more complex than ever. |
| 0:02.4 | That's why Goldman Sachs is breaking down the key factors driving the economy each week. |
| 0:07.4 | Join us every Friday for just 10 minutes or less. |
| 0:10.2 | Listen to the markets, a new series from the Goldman Sachs exchanges podcast. |
| 0:18.6 | Hello and welcome to the intelligence from the economist. |
| 0:21.8 | I'm Aura Agunbi. |
| 0:23.4 | And I'm Jason Palmer. |
| 0:25.3 | Every weekday we provide a fresh perspective on the events shaping your world. |
| 0:32.9 | While many African economies have been crippled by the resource class, |
| 0:37.4 | Botswana has stood out as a rare success story thanks to its diamond industry. |
| 0:42.4 | Now, in light of a new deal, the country's glowing reputation risks losing its sparkle. |
| 0:50.4 | And there's no greater association between an American state and a fruit |
| 0:54.9 | than the case of the Georgia peach. |
| 0:57.3 | But this year's crop is failing badly. |
| 0:59.8 | We look into how that association came about and why the death of the fruit |
| 1:03.9 | isn't as critical as you might think. |
| 1:10.4 | But first... |
| 1:11.6 | Yet another interest rate rise is expected here in Britain this week. |
| 1:23.6 | And as elsewhere, it's starting to sound like a broken record with the cost of borrowing, rising. |
| 1:29.3 | Let's talk about the Bank of England expected to increase interest rates again today for the third time in a row. |
| 1:35.5 | And rising. |
| 1:36.3 | The Bank of England increased interest rates today again. |
... |
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