Your world at 9am
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IMF: Indian home prices are tumbling rapidly, declining 9% from a year ago as high inflation has cut into consumption and elevated interest rates hit affordability. At the end of March, there was 806 million sq. ft of unsold homes across India. At the average sales rate of 60-70 million sq. ft per month, it would take 12-13 quarters or about three years to unload this inventory. (LiveMint, LiveMint, #real estate)
The dominant emotion at bottoms is fear – a palpable and very recognizable state. Tops on the other hand, come about through the combination of greed, complacency and indifference. This is a much more challenging set of factors to identify. (Bloomberg)
Iran is fighting alongside Iraq. Who would’ve thunk that?! (WSJ)
Good luck and have a nice weekend!