I’m listening to The Foreign Desk this morning while I have my coffee. Steve Bloomfield is interviewing two different politicians: one who believes Britain should remain in the EU and one who believes Britain should leave the EU.
(Each interview is about 15 minutes short.)
The back and forth is largely centered around two things: the economy and immigration. Will the British economy be better off in or out of the EU? And on the immigration front, will “in” translate into millions of Turks flooding into Britain should Turkey join the EU?
For those of you who haven’t been following, Britain will be holding a referendum on June 23rd (2016) to decide whether they stay or go.
My general view is that a strong economy should trump concerns over foreigners. But I don’t feel as if I know enough about this precise topic to take a firm position.
Regardless, I very much enjoyed The Foreign Desk episode this morning and I would be open to discussing this issue in the comments below if any of you are also interested.
Seeing how we’ve started looking at data from last year, I thought it would be interesting to look at global home prices as of Q4 2015. Here’s a chart from Knight Frank, which they refer to as their Global House Price Index:
At the top of the list is Turkey, with an 18.4% increase from Q4 2014 to Q4 2015. (Supposedly this is because it has recently become easier for foreigners to buy property in the country.) Canada is 13th with a 6.2% increase (during this same time period) and the United States is 17th at 5.4%.
This is obviously a high level analysis. There are lots of regional and local variations within each country. For instance in Canada right now, Calgary is a very different place than, say, Vancouver or Toronto.
Nonetheless, it’s still valuable to see the relative performance of each country and see what their (Knight Frank’s) prediction is for 2016:
“Our outlook for 2016 is muted. We expect the index’s overall rate of growth to be weaker in 2016 than 2015. The global economy is experiencing a potentially dangerous cocktail of low oil prices, a strong [US] dollar and a continued slowdown in China.”
It’s also interesting to see how the countries rank in terms of affordability:
Once again, Canada ranks as being one of the least affordable countries in terms of home prices.