The Housing Bubble in Puerto Rico
Автор: Aliber Lopez
Загружено: 2021-06-04
Просмотров: 17611
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House prices were up 14.59% during 2020
Puerto Rico’s housing market registered a surprisingly strong rebound with the seasonally-adjusted purchase-only house price index rising by 14.59% during 2020, a sharp turnaround from a y-o-y decline of 0.67% in 2019, using inflation-adjusted figures. quarter-on-quarter, house prices increased 3.1% in Q4 2020.
A decade-long housing market downturn
The Puerto Rican housing market has suffered enormously this decade. The island has experienced a prolonged economic crisis, massive debt, high unemployment, and continuing population loss. Puerto Rico's bankruptcy filing in May 2017 was the biggest in the history of the United States, with US$70 billion in debt and US$50 billion in pension liabilities.
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