Balásy Zsolt: Don't buy real estate now!

The rise in interest rates indicates that money has become a scarce resource, leading to higher borrowing costs. In the late 2010s, negative interest rates were common, but now the French 10-year yield is at 5%. Governments are running significant budget deficits, exacerbated by self-inflicted issues like pension burdens. Increased spending, particularly in defense and AI investments, is consuming vast amounts of capital without immediate productivity gains. This shift affects investors, as rising interest rates lead to declining asset prices, contrasting with the previous decade's inflationary trends where asset values soared.