MONEY MASTER

China’s housing market crisis, which has wiped out an estimated US$18 trillion (RM75.86 trillion) in household wealth, remains the biggest obstacle to achieving the country's 5% growth target . Most economists in a recent Bloomberg survey agree that ramping up the government's housing rescue package offers the best chance to propel growth and stave off a prolonged economic slowdown. Despite China's efforts to revive the property market with a 300 billion yuan (RM179.29 billion) program to help firms buy unsold homes from developers, progress has been slow. Only 29 out of over 200 cities have engaged in the plan, well below expectations, with unemployment rising and youth joblessness hitting new highs in August. The real estate slump, which has lasted for years, has led to millions of job losses, hurt consumer confidence, and reduced demand for products like steel. Analysts argue that larger-scale intervention is necessary, with estimates suggesting a one trillion to ...

As the United States gears up for the upcoming congressional elections, one issue stands out as a critical concern for voters across the nation: the housing crisis. From suburban New York to rural Montana, candidates are facing an overwhelming outcry from voters distressed by skyrocketing housing costs. This issue has not only become a focal point in local campaigns but is also shaping the broader national discourse. Voter Unrest and Economic Woes Democratic Representative Pat Ryan, who is campaigning to retain his seat in New York’s Hudson Valley, notes that housing affordability is the number one economic pain point for his constituents. This sentiment is echoed across various districts, with voters regularly expressing their struggles to find affordable housing. According to a recent Reuters/Ipsos poll, the scarcity and cost of housing are rated as the second most important economic concern, just behind fears of stagnant incomes and rising prices. The Surge in Housing Costs National...