Housing View – July 8, 2022

On cross-country:

  • Prime residential rents in global cities rising at fastest rate since 2010 – Knight Frank
  • The Impact of Home Sharing on Housing Affordability. Evidence from Airbnb in Urban Cities in Europe – Jonkoping University

On the US:    

  • Written testimony for hearing by Jenny Schuetz: Where Have All the Houses Gone: Private Equity, Single Family Rentals, and America’s Neighborhoods – Brookings
  • Home Sellers Are Slashing Prices in Sudden Halt to Pandemic Boom. The rapid rise in mortgage rates is cooling demand, jolting markets from coast to coast – Bloomberg  
  • Biden Administration Weighs Move to Trim Mortgage Costs as Home Prices Rise. Mortgage industry officials say insurance cut for FHA-backed loans would help entry-level buyers; Republicans say it could increase prices – Wall Street Journal
  • Redfin’s chief economist says the housing market correction has begun—and things are going to get worse before they get better – Fortune
  • Inflation is making homelessness worse – Washington Post
  • Volatility in Home Sales and Prices: Supply or Demand? – Federal Reserve Board
  • Pandemic-Induced Remote Work and Rising House Prices – NBER
  • Construction Job Openings Leveling Off – NAHB
  • Lessons Learned from Mortgage Borrower Policies and Outcomes during the COVID-19 Pandemic – Boston Fed
  • Mortgage Rates Fall to 5.30%, Reflecting Recession Fears. Rates fell for a second straight week, though they are still up significantly this year – Wall Street Journal

On China

  • My garlic for a home: China struggles to revive property sector. The real estate market is struggling to recover as zero-Covid policies and developer debt sap buyer demand – FT
  • China Property Debt Crisis Is Just Beginning, Charlene Chu Says. Charlene Chu sees further problems for China real estate. Ex-Fitch analyst says debt weighing on China economic growth – Bloomberg

On other countries:  

  • [Austria] How Vienna took the stigma out of social housing. In some European cities living in social housing is a misfortune. In Austria’s capital it’s an indicator of high-quality urban life. – Politico
  • [Australia] Australian house prices fall for second month as interest rates rise. CoreLogic’s home value index drops for the second month in a row, after declining 0.6% in June – The Guardian
  • [United Kingdom] The signs are Britain is not heading for a property crash. It would be naive to rule out the possibility, but the evidence points to house prices dampening rather than tumbling – The Guardian

Posted by at 5:00 AM

Labels: Global Housing Watch


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