The fall in house prices does not calm the housing crisis

On the new home market, home sales plunged 36.3% last year. Jean-Francois FORT / Hans Lucas via Reuters Connect

DECRYPTION – Interest rates are soaring, transactions are falling, as are the number of new constructions and apartments for rent. More and more French people are struggling to find the accommodation they need.

Real estate prices are finally falling in most major French cities, starting with Bordeaux, Lyon and Paris. This is certainly good news for the French who wish to buy. But the situation on the real estate market and, more broadly, on the housing market, remains very difficult. France actually crosses a major real estate crisis.

The beginning of the price decline is in no way a sign that the situation is improving. Quite the contrary. They are falling because interest rates are soaring and making financing files very difficult to complete. They fall because the number of transactions collapses. They are falling, but the French are finding it increasingly difficult to find housing. The phenomenon affects both the acquisition of a house or apartment, new or old, and rental. More and more households are no longer able to find housing that meets their needs, whether in terms of size or location. Families must…

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