Housing View – October 28, 2022

On cross-country:

  • Agglomeration benefits are here to stay. Building more homes in the most productive cities could massively boost productivity – Work in Progress

On the US—developments on house prices, rent, permits and mortgage:    

  • Quarterly Forecast: Rapidly Rising Rates & Declining Demand Driving a Housing Market Slowdown – Freddie Mac
  • Renters Hit Breaking Point in a Sudden Reversal for Landlords. Affordability pressures and inflation are holding back tenants, forcing landlords to ease off big increases. – Bloomberg
  • Case-Shiller: National House Price Index “Continued to Decelerate” to 13.0% year-over-year increase in August. FHFA: “House prices fell nationwide in August, down 0.7 percent from the previous month” – Calculated Risk
  • House Prices Lower than a Year Ago in 4 Metros. Case-Shiller Home Price Index Update – Real Estate Decoded
  • U.S. home price growth slows in August, surveys show – Reuters
  • Inflation Adjusted House Prices 2.3% Below Peak. House Price-to-Rent Ratio Declines to 3.1% Below Peak – Calculated Risk

On the US—other developments:    

  • Apartment Builders Didn’t Get the Housing Slump Memo. Multifamily units make up the majority of a record number of homes under construction and are showing few signs of a slowdown. – Bloomberg
  • House Price Responses to Monetary Policy Surprises: Evidence from the U.S. Listings Data – San Francisco Fed
  • 11th Annual Housing Conference – AEI
  • Household Size Limitations and Housing Costs – AEI
  • Final Look at Local Housing Markets in September. Sales Down Sharply, Inventory Increased, New Listings Down – Calculated Risk 
  • Home Buyers’ Focus on Affordability Drives WSJ/Realtor.com Housing Index. Johnson City, Tenn., benefited from low prices and taxes to lead third-quarter rankings – Wall Street Journal
  • Builders Say They’re Ready for This Housing Slowdown. ‘I’ve Learned My Lesson.’ Meltdown of 2007-09 fostered less risky tactics; not as much debt – Wall Street Journal
  • The housing market downturn is about more than interest rates – American Banker
  • New Home Sales Decreased in September; Completed Inventory Increased. New Home Sales Decrease to 603,000 Annual Rate in September – Calculated Risk
  • Fresh Evidence of a Housing Market Slowdown – Wall Street Journal

On China:

  • China Home Prices Fall for 13th Month as Property Woes Persist. New-home prices slid for 13th straight month in September. Slew of steps to support market have yet to boost confidence – Bloomberg
  • China’s Property Crisis Is Fueling Record Loss in BEA Debt. Yield to call on BEA AT1 dollar debt rose by record in October. BEA says proactively managing its China real estate portfolio – Bloomberg

On other countries:  

  • [Australia] Australia Asks Its Biggest Investors to Help Fix Housing Crisis. Government announces new plan for affordable homes in budget. Plan will initially help fund 10,000 homes over five years – Bloomberg
  • [Greece] Young Greeks priced out as inflation, rents soar – Reuters
  • [United Kingdom] Major Banks Upbeat on UK House Price Growth Despite Rising Rates. Barclays, HSBC among firms predicting positive UK price growth. Santander CFO says he does not expect big price drops – Bloomberg

Posted by at 5:00 AM

Labels: Global Housing Watch


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