Housing View – June 9, 2023

On cross-country:

  • (Can) cities save the world!? Brussels Urban Summit 2023 – Euro Cities
  • Global housing outlook brightens despite pressure from higher rates – Reuters poll – Reuters
  • Amoral cities are flourishing in a turbulent geopolitical era. Our index ranks economic performance over the past three years – The Economist

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

  • Housing Market Update: Mortgage Rates Are Up, Home Sales Are Down, Prices Are Resilient – Redfin
  • Could 6% to 7% 30-Year Mortgage Rates be the “New Normal”? – Calculated Risk
  • Year-over-year Rent Growth Continues to Decelerate. Asking Rents Likely to be Down year-over-year in June or July – Calculated Risk
  • Black Knight Mortgage Monitor: Home Prices Increased Month-to-month in April; Prices Unchanged YoY. Credit Tightening: “April purchase credit scores were the highest on record” – Calculated Risk

On the US—other developments:    

  • Hidden Costs of Homeownership Can Add Up to Nearly $15,000 Annually – Zillow
  • The Housing Supply is Tight. How About a Texas Ghost Town for $100,000? There’s a catch—the buyer has to have a plan. ‘Do you respect what I call the soul of Lobo?’ People are flocking to the outpost to present their ideas – Wall Street Journal
  • Covid Housing Relief, Forever. The FHA wants to cover mortgage arrears that it helped to cause. – Wall Street Journal
  • Early Look at Local Housing Markets in May. Early Reporting Markets Suggest Sales Down Less YoY in May than in April NSA – Calculated Risk 
  • Housing Affordability Posts Solid Gain but Still Much Lower from a Year Ago – NAHB

On other countries:  

  • [Australia] Australia UK House Prices Are Falling Again — And There’s More Pain Ahead. Consumer budgets squeezed by inflation and interest rates. Outlook poses a danger for Rishi Sunak before next election – Blomberg
  • [United Kingdom] British home prices to slip but won’t come crashing down, Reuters poll shows – Reuters
  • [United Kingdom] UK house prices book first annual contraction in a decade. Property prices down 1% last month compared with May 2022, the first annual fall since December 2012 – FT

Posted by at 5:00 AM

Labels: Global Housing Watch


Subscribe to: Posts