House prices are not growing in many countries. This is because loans are expensive and the world is not stable.

許多國家的房價不再增長。這是因為貸款成本昂貴且全球局勢不穩定。

In Australia, houses are very expensive. People pay a lot of money to the banks every month. Young people find it hard to buy a home.

在澳洲，房價非常昂貴。人們每個月要支付大量的款項給銀行。年輕人發現很難買到房子。

In the UK, house prices are the same as last year. People are worried about wars and energy costs. They wait for the bank to lower interest rates.

在英國，房價與去年持平。人們擔心戰爭和能源成本，正等待銀行降低利率。

In the US, rich people still buy expensive homes. But normal people find it hard. In the future, there may be too many houses for too few people.

在美國，富人仍然購買昂貴的住宅。但一般人覺得很困難。未來可能會出現房產過多而需求不足的情況。

In Singapore, public houses cost less now. This is because some people lost their jobs. They do not have enough money to buy a home.

在新加坡，公共住宅目前的價格較低。這是因為有些人失去了工作，沒有足夠的資金買房。

High interest rates make it hard to buy houses. People in Australia and the US feel a lot of stress.

高利率使得買房變得困難。澳洲和美國的人們感到壓力很大。

Recent data shows that major international housing markets are currently experiencing a period of slow growth and price corrections. This trend is mainly caused by high borrowing costs and global political instability.

近期數據顯示，主要國際房地產市場目前正處於緩慢增長與價格修正期。這一趨勢主因於高借貸成本及全球政治不穩定。

In Australia, there is a large gap between property values and the ability of homeowners to pay back their loans. According to KPMG, the percentage of income spent on interest payments is now higher than it was during the late 1980s. This is because average mortgage loans have increased significantly, reaching $860,000 in New South Wales. While the Coalition claims that federal tax changes have caused property values to drop, the government emphasizes that its policies aim to help young people enter the market. Meanwhile, the Housing Industry Association reports that housing affordability has reached a record low.

在澳洲，房產價值與屋主還款能力之間存在巨大差距。根據 KPMG 的數據，目前收入用於支付利息的比例高於 1980 年代末期。這是因為平均抵押貸款金額大幅增加，在新南威爾斯州已達到 86 萬美元。儘管執政聯盟聲稱聯邦稅務變更導致房產價值下跌，但政府強調其政策旨在幫助年輕人進入市場。與此同時，房屋工業協會報告指出，住房可負擔能力已跌至歷史新低。

In the United Kingdom, the market has become stable with little movement. Data from Nationwide Building Society shows that average home prices did not change in June, as consumers felt less confident due to the conflict involving Iran. Although Northern Ireland saw a strong annual growth of 8.6%, other regions remained flat. A recovery depends on whether the Bank of England lowers interest rates, which may happen if energy prices become more stable.

在英國，市場趨於穩定且波動較小。Nationwide Building Society 的數據顯示，由於消費者對涉及伊朗的衝突缺乏信心，6 月份的平均房價沒有變動。雖然北愛爾蘭錄得 8.6% 的強勁年度增長，但其他地區則持平。市場復甦取決於英格蘭銀行是否調降利率，而這可能在能源價格趨於穩定時發生。

In the United States, there is a clear difference between luxury and standard homes. Redfin reports that luxury prices are rising three times faster than standard homes because wealthy buyers are not affected by high interest rates. Overall, the market is now more favorable for buyers because there are more homes available. However, the Mortgage Bankers Association suggests that as the 'Baby Boomer' generation ages, there may be too many houses on the market over the next ten years, which could push prices down. In Singapore, public housing prices have fallen for two quarters due to job losses, although the private market is still growing slowly.

在美國，豪華住宅與標準房屋之間存在明顯差異。Redfin 報告指出，豪華住宅價格的增長速度是標準房屋的三倍，因為富裕買家不受高利率影響。整體而言，由於房源增加，目前對買家較為有利。然而，抵押貸款銀行協會建議，隨著「嬰兒潮」世代年長，未來十年市場可能會出現過多房屋，進而壓低價格。在新加坡，由於失業問題，公共房屋價格已連續兩季下跌，儘管私人市場仍緩慢增長。

Global housing markets continue to struggle with high interest rates and economic uncertainty. This has led to a buyer's market in the U.S. and increased financial pressure for homeowners in Australia.

全球房地產市場持續受高利率與經濟不確定性的影響。這導致美國進入買方市場，並增加了澳洲屋主的財務壓力。

Current data indicates a period of stagnation and correction across major international housing markets, driven by elevated borrowing costs and geopolitical instability.

目前的數據顯示，在借貸成本升高與地緣政治不穩定的影響下，主要國際住房市場正處於停滯與修正期。

In Australia, the residential sector is characterized by a significant divergence between nominal asset values and debt servicing capacity. Analysis by KPMG suggests that the proportion of household income allocated to interest repayments has surpassed the peaks observed during the high-interest environment of the late 1980s. This phenomenon is attributed to the substantial increase in average mortgage principals, which now reach $860,000 in New South Wales. While the Coalition asserts that federal tax modifications have precipitated a decline in property values, the administration maintains that its policies are designed to facilitate market entry for younger demographics. Concurrently, the Housing Industry Association reports that affordability has reached a historical nadir.

在澳洲，住宅部門的特點在於名義資產價值與債務償還能力之間存在顯著分歧。KPMG 的分析指出，家庭收入中用於支付利息的比例已超過 1980 年代末高利率環境下的峰值。這一現象歸因於平均抵押貸款本金的大幅增加，在新南威爾士州目前已達 86 萬澳元。儘管聯合黨聲稱聯邦稅務修正導致了房產價值下跌，但政府堅持認為其政策旨在降低年輕族群的入市門檻。與此同時，房屋工業協會報告稱，負擔能力已達到歷史最低點。

Within the United Kingdom, the market has entered a phase of lateral movement. Nationwide Building Society data reveals that average home prices remained static in June, influenced by diminished consumer confidence following the conflict involving Iran. Although Northern Ireland exhibits robust annual growth of 8.6%, southern regions remain largely stagnant. The potential for a market recovery is contingent upon the Bank of England's trajectory regarding interest rate adjustments, which may be mitigated if energy price volatility subsides.

在英國，市場已進入橫盤整理階段。Nationwide Building Society 的數據顯示，受伊朗衝突後消費者信心下降的影響，6 月平均房價維持不變。雖然北愛爾蘭表現出 8.6% 的強勁年度增長，但南部地區基本上仍處於停滯狀態。市場復甦的可能性取決於英格蘭銀行關於利率調整的走勢，若能源價格波動消退，壓力可能會減輕。

In the United States, the market exhibits a pronounced bifurcation between luxury and non-luxury segments. Redfin reports that luxury home prices are appreciating at more than triple the rate of standard properties, as affluent buyers remain insulated from the borrowing constraints affecting the general population. Nationally, the market has transitioned toward a buyer-centric orientation due to an increase in available inventory. However, the Mortgage Bankers Association posits that long-term demographic shifts—specifically the aging of the Baby Boomer generation—may lead to a structural oversupply of housing units over the next decade, potentially exerting downward pressure on prices.

在美國，市場在豪宅與非豪宅部門之間表現出明顯的分層。Redfin 報告指出，由於富裕買家不受影響一般大眾的借貸限制，豪宅價格的增長速度是標準房產的三倍以上。由於可用庫存增加，全國市場已轉向以買家為中心的導向。然而，抵押貸款銀行協會認為，長期的人口結構轉移——特別是嬰兒潮一代的老齡化——可能會在未來十年導致住房單位的結構性過剩，從而對價格產生下行壓力。

Singapore's public housing sector has experienced a contraction, with the HDB resale price index declining for two consecutive quarters. Analysts attribute this sluggishness to a weakened hiring outlook and structural layoffs, which have compromised the financial confidence of prospective buyers. Conversely, the private residential sector continues to demonstrate growth, albeit at a decelerated pace.

新加坡的公共住房部門出現收縮，HDB 轉售價格指數連續兩個季度下跌。分析師將此低迷歸因於招聘前景轉弱及結構性裁員，這削弱了潛在買家的財務信心。相反，私人住宅部門繼續表現出增長，儘管增速有所放緩。

Global housing markets remain constrained by high interest rates and economic uncertainty, with a notable shift toward buyer advantage in the U.S. and increased financial stress for Australian homeowners.

全球住房市场仍受制於高利率與經濟不確定性，美國市場明顯轉向買方優勢，而澳洲房主面臨的財務壓力增加。