Housing View – August 26, 2022

On cross-country:

  • BIS residential property price statistics, Q1 2022 – BIS

On the US:    

  • Eviction and Poverty in American Cities – NBER
  • The Fed Sees Housing Trouble Ahead. There have been conflicting signals in the housing market. And several factors may stop any slowdown from turning into a slump. – New York Times
  • American dream of owning a home out of reach for many in tight markets. Many middle- and lower-income Americans are left with a dwindling number of options or forced into renting while supply increases for the wealthiest buyers – The Guardian
  • It Was the Housing Crisis Epicenter. Now the Sun Belt Is an Inflation Vanguard. Inflation has been worse in Southern cities, burdening residents and prompting the question: What can it teach the rest of the country? – New York Times
  • Early effects of COVID-19 pandemic-related state policies on housing market activity in the United States – Journal of Housing Economics
  • New Home Sales Plummet in July – NAHB
  • Rent Price Increased for Fifth Consecutive Quarter – NAHB
  • The Rental Housing Crisis Is a Supply Problem That Needs Supply Solutions. Policymakers must prioritize improving housing access and affordability for low-income households through immediate and long-term investments. – Center for American Progress
  • New Apartments at 50-Year High May Ease Pressure on US Rents. About 420,000 rental units expected this year: RentCafe study. Extra supply could help alleviate record rents in some cities – Bloomberg
  • Home Sellers Are Slashing Prices in Pandemic Boomtowns. Redfin found that 70% of homes for sale in Boise, Idaho, had their price cut in July, the highest share of 97 metros. – Bloomberg   
  • U.S. new home sales tumble to 6-1/2-year low; prices still high – Reuters 
  • Housing supply and demand are beginning to balance – Washington Post
  • Where will housing prices end 2022? New data predicts a 4% drop in 5 months—and homes with these two characteristics will be hardest hit – Fortune
  • Home Prices Just Dipped—Does That Mean They’re Poised To Plummet This Fall? – Realtor
  • White House Pledges ‘Stability’ Vouchers for Homeless and At-Risk People. New housing vouchers build on efforts by the Biden administration to focus on unsheltered and rural homelessness and drive aid to people suffering domestic violence. – Bloomberg

On China:

  • China slashes 5-year mortgage rate as property crisis deepens. Central bank equals record rate cut in May but move unlikely to resolve crisis for developers, strategists say – FT
  • China’s property market is in freefall. What does this mean for the world economy? The sector is dangerously overheated – but unlike the 2008 financial crisis, the global ripple effect is likely to be limited – The Guardian
  • China Probes Property Executives for Possible Law Violations. Signals potential expansion of Xi’s crackdown on corruption. Campaign has focused on financial and technology sectors – Bloomberg

On other countries:  

  • [Australia] Australia’s Slumping Property Market Raises Risk of a Recession. Households’ record debt-to-income ratio squeezed by rate hikes. Major risk is fallout on consumption that makes up 60% of GDP – Bloomberg
  • [Sweden] Swedish Construction Activity Slows Amid Slump in Housing Market – Bloomberg
  • [United Arab Emirates] Dubai looks to restart mothballed luxury developments for wave of wealthy incomers. Volume of residential transactions is at its highest since peak of 2009, says real estate group CBRE – FT
  • [United Kingdom] Where do landlords think the UK property market is going? – FT

Posted by at 7:01 AM

Labels: Global Housing Watch


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