Turkey’s Surreal Real Estate Bubble: On Its Last Legs?
- Japan’s economic miracle ended with a real estate crisis in 1989. China seems to be on its way to “Japanification” because of a real estate bubble.
- Global real estate prices are declining thanks to tighter financial conditions.
- Turkey is one of the few outliers, with house prices rising by 60% in real and 80% in dollar terms YoY.
- Could Turkey face the fate of Japan and China?
- If so, WHEN? What would be the implications for the economy?
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