US sanctions squeeze Iran middle class upend housing sector

TEHRAN, Iran — Iran’s large middle class has been hit hard by the fallout from unprecedented U.S. sanctions, including the collapse of the national currency.Perhaps most devastating has been the doubling of housing prices, uprooting tenants and making home ownership unattainable for most.Some say the sanctions, part of the Trump administration’s campaign of “maximum pressure” to exact nuclear concession from Iran’s rulers, have had the opposite effect and strengthened hard-liners.Iranians worry about the future as tensions between Iran and the West continue to rise.The escalation — triggered by the Trump administration’s withdrawal last year from Iran’s 2015 nuclear deal with world powers — seems unstoppable, and European mediators trying to defuse the situation keep coming up short.The economic freefall could shape Iran’s domestic politics for a long time.Karin Laub And Mohammad Nasiri, The Associated Press read more

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