Housing View – March 17, 2023

On cross-country:

  • Global house prices set to extend declines, risk of more with higher rates: Reuters poll – Reuters

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

  • Three Million U.S. Households Making Over $150,000 Are Still Renting. High cost of homeownership and limited supply of homes for sale drive renters – Wall Street Journal
  • House Prices and Rents in the 21st Century – NBER 
  • Rent control policies are gaining support nationwide. Here’s why economists still think it’s a bad idea. – CNBC
  • A Short History of Long-Term Mortgages. Americans take today’s selection of mortgages for granted, but financing a home is a much different experience than it was a century ago – Richmond Fed
  • Mortgage Payments Hit Record High. The typical homebuyer’s monthly bill rose to $2,563 this week thanks to higher borrowing costs and prices that remain elevated. – Bloomberg
  • Permits Decline At The Start of 2023 – NAHB
  • Single-Family Starts Remain Lackluster but Will Rebound Later This Year – NAHB  
  • February Housing Starts: Average Length of Time from Start to Completion increased Sharply in 2022. Near Record Number of Housing Units Under Construction in February 2023 – Calculated Risk

On the US—other developments:    

  • President Biden’s Budget Lowers Housing Costs and Expands Access to Affordable Rent and Home Ownership – White House
  • Zillow’s panel of experts: Fix zoning to improve housing affordability – Zillow
  • Why There Are No Houses to Buy in Many U.S. Metro Areas – Time
  • ‘Stalemate’: Sellers aren’t selling, and buyers aren’t buying. Rising interest rates are locking up Boston’s housing market. Nearly everyone who currently holds a 30-year fixed rate mortgage has an interest lower than they could get today. So why sell? – Boston.com
  • Forum on the future of the Federal Home Loan Bank system: Highlights from the Brookings and BU Law event – Brookings
  • Pandemic Economics, Housing and Monetary Policy: Part 2 – Calculated Risk
  • 2nd Look at Local Housing Markets in February. Early reports suggest NAR reported sales will rebound in February – Calculated Risk
  • 10 States With The Most Valuable Housing Markets. California remains the clear leader, and Florida surpassed New York as the state with the second most valuable real estate market in the country. – Zillow
  • What Employers Can Do to Address High Housing Costs – Harvard Business Review
  • Despite Multiple States Abolishing Single-Family-Only Zoning, Very Few Duplexes and Triplexes Are Being Built. A new report illustrates that the middle of the housing market is still missing. – Reason 
  • Current State of the Housing Market; Overview for mid-March. Purchasing Same House, Monthly Payments Up 44% Year-over-year – Calculated Risk

On other countries:  

  • [Canada] Canada’s housing market continues to lose steam – Global Property Guide
  • [Hong Kong] Hong Kong’s house prices plummeting – Global Property Guide
  • [Netherlands] ‘How will I buy?’: housing crisis grips the Netherlands as Dutch go to polls. Housing is key in this week’s provincial elections after years of soaring prices and government neglect – The Guardian
  • [New Zealand] New Zealand house prices fall in February as economic headwinds continue – Reuters
  • [Sweden] Sweden faces recession as housing market troubles take toll on economy – Reuters
  • [United Arab Emirates] Dubai Housing Boom Shows No Sign of Slowing as Prices Jump Again. Average Dubai villa rents jump 26% in the year to February. The number of off-plan property sales are also increasing – Bloomberg
  • [United Kingdom] Is the UK housing market cooling? Agents and analysts agree that there is a shift after two years of superheated growth – FT

Posted by at 5:00 AM

Labels: Uncategorized


Subscribe to: Posts