Video library
Whether it's economic trends, capital markets or social changes - Zsolt Janos is regularly invited as an expert to TV programs to classify developments and explain connections in an understandable way.
Most popular videos of the last 30 days:
18.12.2025 | OE24
ECB interest rates, real estate crisis and AI expectations
Yesterday, I was asked live in the studio about the current stabilization trends following the ECB interest rate meeting. The ECB is leaving...
The content discussed in this video is for general informational purposes ONLY and under no circumstances constitutes a recommendation to buy or sell specific investments. It is therefore not investment advice, as I cannot assess the risk profile and financial situation of individual viewers. Anyone who decides to buy or sell investment products or assets based on the information discussed in this video does so at their own discretion and risk. I cannot accept any liability if you make your own investment decisions based on the information in this video and consequently incur losses.
Summary
ECB interest rates, the real estate crisis, and AI expectations: A current analysis
The European Central Bank (ECB) has kept its key interest rate unchanged for the fourth consecutive time. What does this mean for investors, the real estate industry, and the emerging world of artificial intelligence? We spoke with financial expert Zsolt Janos to shed light on these questions.
Constant ECB interest rates: A step towards normality?
Zsolt Janos views the ECB's decision to keep interest rates at 2% as fundamentally positive. He emphasizes that central banks are striving to prepare the markets and avoid surprising anyone. This suggests a return to normality after the zero-interest-rate period was an exception.
"The zero interest rate phase was not normal. It was an emergency measure to stabilize the markets after the real estate and financial crisis." - Zsolt Janos
Stable interest rates provide planning security. While some might prefer lower interest rates, it's important to consider the bigger picture. The current situation allows for better project costing and a higher risk-free interest rate.
Real estate sector under pressure: Impact of interest rate policy
The real estate sector is under immense pressure, largely due to interest rate policies. After a long period of virtually free borrowing, loans are now more expensive. This has led to a stagnation in the real estate market, declining valuations, and difficulties in refinancing projects.
"The real estate industry in particular has become accustomed over this long period to the fact that money cost nothing." - Zsolt Janos
Further structural adjustments are expected next year. Although the crisis has not yet reached the masses, property developers are already feeling its effects significantly.
Real estate crisis: Should we be afraid?
Whether we need to fear a genuine real estate crisis depends on the definition. For real estate developers, the crisis is already a reality, with rising bankruptcies. The question is how this crisis will be managed. So far, central banks and commercial banks seem to have learned from the Lehman crisis and are acting with foresight.
Artificial Intelligence: A Bubble of Expectations?
In the field of artificial intelligence (AI), Zsolt Janos sees more of an expectations bubble. Many people have inflated expectations due to the misleading term "artificial intelligence." In reality, it currently refers more to extremely fast systems that can also quickly produce nonsense. This has led to an investment bubble in which companies have poured a lot of capital into the infrastructure.
"We currently don't have intelligent systems, but super-fast systems that can also produce nonsense very quickly." - Zsolt Janos
Similar to real estate investments, many AI investments are based on the assumption of high future profits. Whether these expectations will be met remains to be seen.
What advice do you have for investors in this environment?
Investors should be aware that there are no risk-free returns or guaranteed profits. It is important to do your research and understand business models before investing.
"If you don't understand a business model, then investors shouldn't be bought off by promises of high interest rates or returns." - Zsolt Janos
It is advisable to seek neutral advice in order to make informed decisions.
Economic forecasts for Austria: Light at the end of the tunnel?
Economic forecasts for Austria have been slightly raised, with expected growth of 0,5% in 2025 and around 1% in 2026. This is fundamentally positive. It is important to invest in the future and promote growth.
Outlook for 2026: What awaits us?
Several parameters will be crucial for 2026. The debt issue, particularly in the US, will remain important. The succession of the US Federal Reserve chairman will also play a role. In the field of AI, investors will take a closer look, focusing not only on hype but also on concrete figures and business models. The US election will also be a factor.
Conclusion
The current situation is complex and requires careful analysis. ECB interest rate policy, the state of the real estate sector, and the development of artificial intelligence are important factors that investors should consider. It is crucial to stay informed, understand business models, and seek professional advice where necessary.
Do you need support with your wealth planning? Contact us for a personalized consultation!
