By Tag Clar Editorial
The housing company Saga, one of the largest entities active in the real estate market, announced its business results and reported a sharp decline in profits this year. This decline has occurred while the housing market is under pressure due to rising interest rates and decreased demand.
Why is the Housing Market in Crisis?
Analysts believe that rising interest rates and unfavorable economic conditions have led to fewer buyers entering the housing market. These conditions are clearly affecting the performance of large companies like Saga and could lead to a serious crisis in this industry.
Considering that the housing market is one of the main pillars of the economy, this news could signal broader economic crises. Concerns about the repercussions of this profit decline on employment and the job market are also increasing.
