Housing View – February 24, 2023

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

  • Home Prices Are Overvalued but Will Decline Only Gradually – Kansas City Fed
  • The housing market correction has already caused homeowners to lose $2.3 trillion – Fortune
  • The housing market correction just took a new turn – Fortune
  • As the Decade Long Home Price Boom Ends and a Major Home Price Correction Begins, the Impact Will Vary as Metro Areas Are Buffeted by a Variety of Headwinds and Tailwinds – AEI
  • Has Housing Bottomed? – Seeking Alpha
  • The value of US homes recorded its biggest six-month drop since 2008. The Bay Area saw the biggest fall, but the market is hot in flood-prone Florida – Quartz
  • First time ever more “Built-for-Rent” Units started Quarterly than “Built-for-Sale” – Calculated Risk
  • Multifamily Built-for-Rent Share Rises – NAHB
  • CoreLogic: “US Annual Rent Price Growth Dropped by Nearly Half in December” – Calculated Risk
  • Another Pointless Government Mortgage Pricing War Begins – AEI
  • The Normal Seasonal Changes for Median House Prices – Calculated Risk
  • Biden Administration to Cut Mortgage ​​Insurance Costs for Lower-Income Buyers – Wall Street Journal

On the US—other developments:    

  • The State of US Housing: A Roller Coaster Ride – Harvard Joint Center for Housing Studies
  • How the Housing Shortage Warps American Life. Atlantic writers explain why a lack of housing makes everything worse. – The Atlantic
  • Additional Declines for New Home Size NAHB
  • NAR: Existing-Home Sales Decreased to 4.00 million SAAR in January – Calculated Risk
  • Existing Home Sales Continue to Fall in January – NAHB
  • What Do US Growth Zones Have in Common? They Build Housing – Washington Post
  • Congress Could Have Prevented 500,000 Foreclosures During The Great Recession But Chickened Out – Real Estate Decoded
  • Final Look at Local Housing Markets in January. Year-over-Year: Sales Down Sharply, Inventory Increased, New Listings Down – Calculated Risk
  • Missing Middle Housing Production Lags – NAHB

On China:

On other countries:  

  • [Australia] Australia’s housing crisis: how RBA interest rate hikes are pushing families closer to the edge – The Guardian
  • [Portugal] Portugal Wants to Force Owners of Vacant Homes to Find Tenants. Move is intended to ease tensions in a tight housing market. Property owners’ group calls proposed measure unconstitutional – Bloomberg
  • [Singapore] Singapore’s soaring expat rents undermine bid to oust Hong Kong as finance hub. Rising living costs damage city-state’s ambition to lure regional businesses – FT
  • [South Korea] South Korea’s ‘jeonse’ rent-free renters hit by property downturn – Reuters
  • [Switzerland] How Does Immigration Affect Housing Costs in Switzerland? – IZA Institute of Labor Economics
  • [United Kingdom] UK property asking prices show weakest February gain on record: Rightmove – Reuters
  • [United Kingdom] Britain Lacks Millions of Homes Due to Tight Planning Laws, Says Think Tank – Bloomberg
  • [United Kingdom] UK’s Long Housing Boom Helped Trigger Exodus of Older Workers – Bloomberg
  • [United Kingdom] Is a frozen market worse than a house price crash? UK housing downturns tend to live long in the memory, but a period of stagnation could be even more painful – FT

Posted by at 5:00 AM

Labels: Global Housing Watch


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