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Housing Market Faces Affordability Crisis

The global housing market is experiencing a significant affordability crisis, with mortgage rates and home prices rising sharply. In the US, the median home price reached $420,000, while mortgage rates hover around 6.81%. Experts predict continued challenges in affordability, with home sales expected to rise modestly in 2025 despite these pressures.

France's Credit Rating Downgraded Again

Moody's has downgraded France's credit rating to Aa3, citing concerns over the country's fiscal stability amid political turmoil. This follows the appointment of François Bayrou as the fourth prime minister this year after the collapse of Michel Barnier's government, which struggled to implement necessary budget cuts.