Housing View – November 26, 2021

On cross-country:

  • Hostility towards private equity’s push into property is misguided. Big investors are filling a gap in the market – The Economist

On the US:   

  • How Jerome Powell as Fed Chair Will Affect Crypto, Hot Housing and Inflation. Wall Street loves Powell for helping lift the stock market up from its pandemic lows. But will he continue to keep rates low and credit cheap? – Bloomberg
  • Mortgage Bills Are Coming Again. $10 Billion in Aid May Arrive First. The federal Homeowner Assistance Fund aims to help those still struggling as forbearance periods come to an end. But the assistance isn’t limited to mortgage payments. – New York Times
  • A record number of US homes are being built just for renters – Quartz
  • Some Eviction Economics – Conversable Economist
  • Home Prices Are Surging. The Manufactured-Housing Industry Sees an Opening. Some lenders and advocates think factory-built homes are a solution to the U.S. housing crunch – Wall Street Journal
  • The Housing Proposal That’s Quietly Tearing Apart Atlanta. Secession efforts by Buckhead residents are gaining momentum as the city proposes zoning changes to create more apartments and affordable housing. – Bloomberg
  • New York Targets Affluent Neighborhoods in Push for Affordable Housing. Supporters say the plans help address New York’s housing crisis and help integrate the city’s neighborhoods. Opponents see more gentrification and giveaways for developers. – New York Times
  • Housing Is Cruising For A Bust, But Not Just Yet – Forbes  
  • The destabilizing cost of a pandemic: What COVID-19 meant for renters already getting assistance – Brookings
  • Mortgage Burnout Looms for Lenders. Mortgage originators are likely to feel a hangover from the pandemic boom, so they need some new tricks – Wall Street Journal
  • Five things to know about rising house prices. Benjamin Keys, a professor of real estate and finance at the Wharton School, gives his five main takeaways from the recent increase in house prices. – Penn Today

On China

  • China eases pressure on property sector but reform remains priority. Beijing’s policy loosening to prevent collapse of industry does not represent a retreat, analysts say – FT
  • China’s Economy Czar Liu He Calls For Stable Housing Market – Bloomberg
  • Will China’s property tax rob from the rich and give to the poor, aiding common prosperity drive? China’s property tax plan is part of Xi Jinping’s so-called common prosperity campaign to redistribute wealth and to address widening social inequality. The plan will not be implemented straight away, with a five year pilot programme set to test the proposal before it is eventually rolled out across the country – South China Morning Post

On other countries:  

  • [Albania] A Denser City, But at What Cost? Albania’s capital is getting a makeover intended to stop urban sprawl. But critics say the plan could leave Tirana changed beyond recognition, and erase its history. – Bloomberg
  • [Australia] ‘Twilight’ for Australia’s housing boom as prices to fall 10% in 2023, CBA says. Commonwealth Bank expects a peak in 2022 and then a drop the following year as borrowing costs rise – The Guardian
  • [Australia] Who is responsible for housing affordability? – ABC
  • [Austria] Austrian central bank sees growing risks from mortgages amid property boom – Reuters
  • [Canada] Financial stability through the pandemic and beyond – Bank of Canada
  • [Colombia] Striking a Balance. Toward a Comprehensive Housing Policy for a Post-COVID Colombia – World Bank
  • [Hong Kong] Hong Kong conundrum: sky-high prices and flats the size of parking spaces. Ranked the world’s least affordable housing market, the cramped city suffers from a lack of supply – FT
  • [New Zealand] New Zealand raises rates to 0.75% as house prices surge. Rates will have to rise above their neutral level to cool the economy, says central bank – FT
  • [New Zealand] RBNZ outlines new home loan restrictions – Financial Review
  • [Nigeria] Empty houses litter Nigeria’s cities despite housing crisis – Reuters
  • [United Kingdom] Nationwide’s profits almost triple as mortgage borrowing stays high. UK building society reports strong demand despite expected BoE interest rate rises – FT
  • [United Kingdom] Revealed: first-time homes have grown less affordable under the Tories. Guardian analysis shows situation has worsened in most of England and Wales since 2015 – The Guardian

Posted by at 5:00 AM

Labels: Global Housing Watch


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