that the necessary (though not sufficient) conditions are in place for the banking system to address the major problem of non-performing loans. A halting of the increase (and even a slight decrease) in the volume of non-performing loans in the second and third quarters of 2016, for the first time since 2014.
However, extreme examples such as the San Francisco Bay Area, Silicon Valley, where the average house costs € million, show this can become a problem for broader economic wellbeing. As these areas are booming, many workers cannot afford to live there anymore. Recently, we see books, research papers and newspaper articles documenting these consequences of decreasing affordability, social as well as economic.