IMF triggers house alarm

THE International Monetary Fund (IMF) has sounded the alarm of another potentially devastating housing crash given that house prices are still well above their historical average in many countries in relation to incomes and rentals. The world financial body says the situation has emerged as one of the biggest threats to economic stability.

Indisputably, the many trillions in quantitative easing (QE) money launched by the United States in recent years and record low interest rates are among the contributors for the sharp hikes in property prices in many parts of the world today.