@FinanzKroko Hier in Speyer kostet ein Haus in einer guten Nachbarschaft um die 800k bis 1 Mio. Wahnsinn. Die Gehälter sind nicht so hoch und der immomarkt hält sich nur mit dem EK durch Erbschaften / Schenkungen von anderen immobilien.
Everyone is watching for the yen carry trade to unwind. They are watching the wrong thing.
The version you hear about, hedge funds borrowing cheap yen to punt abroad, is the cartoon. The real one is bigger and quieter.
It is Japan's own financial institutions. An aging country that saved for decades, sitting on huge savings and huge future obligations.
They cannot earn a decent risk-adjusted return at home. So for fifteen years they have moved their money into dollars instead.
That is the real carry trade. And it is not unwinding, because the Japanese still do not trust their own economy, whatever their officials say.
So the yen keeps grinding lower, and there is little anyone can do about it.
The intervention was pure theater. They sold euros to buy yen, it popped from 164 to 156, then slid right back to 160.
Karls Partei gibt zwischenzeitlich 200.000€ Mietsubventionen pro Sozialwohnung aus und nimmt jeder jungen Familie, die #Wohneigentum erwirbt, 30.000€ Grunderwerbsteuer und 50% ihres Einkommens ab.