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UNBELIEVABLE: 5 | History Defined

Skepticism prevails as Chinese leaders promise to back private businesses to spur slowing economy

Chinese leader Xi Jinping’s government is promising to drag the economy out of a crisis of confidence aggravated by tensions with Washington, wilting exports, job losses and anxiety among foreign companies about an expanded anti-spying law

The Independent UK

Commercial real estate may not recover until 2040

Capital Economics's Kiran Raichura predicts that office values will sink by 35% in the next three years, and the sector might not recover until 2040.

Fortune

Property economist predicts 35% fall in office values by end of 2025, anticipates over 17-year recovery: 'We definitely think the office sector is crashing'

“The realization that the market needs to reprice substantially has driven us to make a big downgrade in our forecast,” says Capital Economics' Kiran Raichura.

Fortune

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Eurozone inflation drops; UK recession fears linger; Apple hits $3trn valuation – as it happened

Eurozone price pressures have eased, although core inflation has risen, as economists warn UK recession risk has not vanished

The Guardian - UK

Morgan Stanley says commercial real estate will crash harder than during the Great Financial Crisis. Here’s how 5 other top institutions see it playing out

There’s one thing they can all agree on: Office properties are in trouble.

Fortune

Office owners have an ‘arduous’ road ahead, Capital Economics says, forecasting that office values are unlikely to recover by 2040

The research firm’s top property economist likens the decline in office demand to what malls have experienced over the last six years—and sees a similar outcome.

Fortune

Capital Economics: Pause in home price declines to 'prove temporary''

Capital Economics just put out a new report titled “Pause in house price declines to prove temporary.”

Fortune

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UK growth forecast upgraded by IMF; Bank of England governor says ‘big lessons to learn’ after inflation shock – as it happened

New IMF report shows “a big upgrade to the UK’s growth forecast” says Jeremy Hunt, with UK expected to grow by 0.4% this year not shrink by 0.3%

The Guardian - UK

How war in Taiwan could mean the wheels come off the UK economy

Microchips are an issue, of course, but China also makes the alloy wheels our cars mostly roll on. And what about TikTok?

The Guardian - UK

Will Credit Suisse be the next banking domino to fall?

After Silicon Valley Bank’s collapse, could one of Europe’s biggest (and most embattled) banks spark an even bigger crisis?

Fortune

The free-fall in housing market activity just concluded, says Capital Economics

U.S. home prices will continue to fall in 2023 even as home sales bottom out, says Capital Economics.

Fortune

China's capital swings from anger over zero-Covid to coping with infections

BEIJING: Beijing's Covid-19 gloom deepened on Sunday with many shops and other businesses closed, and an expert warned of many thousands of new coronavirus cases as anger over China's previous Covid policies gave way to worry about coping with infection.

Bangkok Post

Beijing swings from anger over zero-COVID to coping with infections

(Corrects spelling of 'woman' in paragraph 9)

Reuters

A 20% home price crash? These 7 forecast models can see it—where the other 13 leading models have the 2023 housing market going

Where 20 leading forecasters foresee home prices going in 2023.

Fortune

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The Guardian - UK

High-rise mortgage costs see surge in rents across the UK

House prices may be falling as interest rates climb, but there’s no respite for tenants as property shortages bite

Asharq Al-Awsat

China Widens COVID Curbs, Apple Factory Unrest Adds to Economy Worries

Chinese authorities imposed more restrictions on Wednesday to rein in a rapid rise in COVID-19 infections, adding to investors' worries about the economy just as fresh unrest at the world's largest iPhone factory highlighted the social and financial toll of these curbs. Across China, cities including the capital Beijing and…

Financial Times

Central banks to shift away from ‘jumbo’ interest rate rises as outlook darkens

Economists expect smoother monetary tightening as policymakers worry about damage to growth

Evening Standard

Talking about house prices, for all the wrong reasons

City Voices: The next 18 months are going to be tough for homeowners

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Reuters

China COVID curbs hit iPhone output, shut Shanghai Disney

China's COVID-19 curbs forced the temporary closure of Disney's Shanghai resort on Monday, while production of Apple Inc iPhones at a major contract manufacturing facility could drop by 30% in November due to coronavirus restrictions, a source told Reuters.

The Independent UK

First-time buyers see hopes destroyed amid rising interest rates and higher rents

The property market is set to weaken from the bottom up as people struggle to climb onto the housing ladder, economists warn

The Guardian - UK

Pound falls as weak retail sales raise fears UK economy is in recession

On Black Wednesday anniversary, sterling hits 37-year low against dollar and 17-month low against euro

The Guardian - UK

The daunting economic challenges facing the UK’s next chancellor

Nadhim Zahawi’s successor will have to provide support as the country grapples with falling into recession

Evening Standard

Millions again placed under Covid lockdown in China

China’s Guangzhou tightens Covid restrictions as infections hit big southern cities

The Guardian - AU

China places millions into Covid lockdown again as economy continues to struggle

Key cities of Shenzhen, Guangzhou and Dalian are under curbs again, amid protests and data showing factory slowdown

Daily Mirror

House prices expected to fall by up to 12 per cent - find out how your area compares

The real-term shrinking of household income, coupled with costs and mortgage prices rising, will mean the current high number of property buyers will likely decline sharply

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