Recent research has identified a link between climate change and an increase in predatory lending practices in the US, particularly affecting low-income and minority communities. The study highlights that extreme temperature conditions, such as heatwaves and cold snaps, are causing an uptick in the demand for payday loans. These high-interest loans are particularly prominent in economically disadvantaged areas like South Los Angeles, where traditional banking services are scarce. The research indicates that counties with higher Hispanic populations, who often work outdoors, are especially vulnerable during extreme weather events, leading to increased loan defaults and delinquencies. Experts suggest that enhanced utility assistance programs and stricter regulations on payday lending are necessary to mitigate this impact.

Meanwhile, London’s property market is experiencing a downturn, with a 5.5% decrease in house prices, making it rank 95th out of 107 cities globally in Knight Frank’s Global Residential Cities Index for the fourth quarter of 2023. This decline is attributed primarily to high price-to-income ratios, which have affected affordability. In contrast, cities like Warsaw have seen significant property price growth. However, there are signs of a potential recovery in London, with a 1.2% rise in house prices and a recent increase in transactions. Despite this positive shift, the market faces challenges due to a supply-demand imbalance, which is expected to maintain competitive conditions for buyers. Knight Frank remains optimistic about the future trajectory of London’s property market.