May
09
A New Generation of German Homebuyers Falls in Love With Draghi
By-
Low rates spur shift away from stashing cash in banks
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`Real estate agents are making the money of their lives’
Anna Pesch had long assumed she’d be a renter for years to come, but this month she’s buying a three-bedroom house near the German city of Cologne. She’s got Mario Draghi to thank for that.
“We didn’t want our money to keep going into rent,” said Pesch, a 32-year-old speech therapist who started looking for a home two years ago, around the time European Central Bank chief Draghi dropped the benchmark deposit rate below zero. “We prefer to invest,” Pesch said, “especially since prices in our area just keep going up.”…
A New Generation of German Homebuyers Falls in Love With Draghi
