Housing View – October 13, 2023

On cross-country:

  • BOE Sees Global House Prices Falling, Warns on China Risks – Bloomberg
  • Why Singapore, Seoul and Japan are defying the real estate downturn. Singapore’s housing market and South Korea’s grade A office market are outperforming most others. Japan, meanwhile, is benefiting from efforts to relocate supply chains away from China – South China Morning Post

Working papers and conferences:

  • Institutional Housing Investors and the Great Recession – Philadelphia Fed
  • The Environmental Cost of Easy Credit: The Housing Channel – NBER
  • The environmental burden of aesthetic norms – VoxEU
  • Removing Conflict of Interest for Agents of Homebuyers – Richmond Fed

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

  • Housing Groups, Mortgage Lenders Urge Powell to Halt Fed Hikes. Homebuilders, realtors and mortgage bankers unite in letter. Lobby groups say rate volatility hurting housing affordability – Bloomberg
  • Mortgage Activity Increases Despite Rise in Interest Rates – NAHB
  • Is the Housing Market Overvalued? What Buyers Need To Know – Realtor.com
  • US housing: recharged. Goldman thinks price growth is going to reaccelerate – FT
  • US Housing market crash turns not-so-sweet 16 – Goldman Sachs  

On the US—other developments:    

  • Six Things You Need to Know About Housing Post-Covid-19. A Shifting Outlook – Dallas Fed
  • The Californization of the Texas Housing Market. Migration from more expensive states has pushed home prices out of reach for many locals; ‘a very hard market for first-time buyers’ – Wall Street Journal
  • Part 2: Current State of the Housing Market; Overview for mid-October – Calculated Risk
  • Characteristics of Recent Home Buyers – NAHB
  • 1st Look at Local Housing Markets in September. Early Reporting Markets suggest Sales at New Cycle Low in September – Calculated Risk
  • 2nd Look at Local Housing Markets in September. Early Reporting Markets suggest Sales at New Cycle Low in September – Calculated Risk
  • How can America fix its housing shortage? – The Economist
  • September 2023 Monthly Housing Market Trends Report – Realtor.com
  • Herbert Hoover’s Department of Commerce and the Origins of US Housing Data – Harvard Joint Center for Housing Studies

On China:

  • Amid turmoil in China’s property market, the public seethes. Anger is turning against the tycoons who profited from a house-building boom – The Economist
  • China property: Country Garden default would blight market outlook. Impact threatens to be much larger than Evergrande fallout, with shockwaves rippling across Asia – FT
  • Why a property crash could be good for China. The wealth redistribution would benefit ordinary families, boost consumption and rebalance the economy. China needs more sustainable economic growth and, crucially, it has the tools to minimise the short-term pain needed to achieve this – South China Morning Post

On other countries:  

  • [Australia] House price rally not sustainable, warn economists – Financial Review
  • [Australia] Australia under more mortgage stress than any other nation, IMF says. Cost of repaying loans is 15% of income and likely to be higher after this year’s rate hikes, as fund predicts GDP growth of 1.2% next year – The Guardian
  • [Hong Kong] Hong Kong developers hit by Federal Reserve’s ‘higher for longer’ interest rates. Five of the territory’s biggest real estate companies have lost $20bn in market value this year – FT  
  • [Singapore] Singapore Is Fighting Rising Seas to Save $50 Billion in Real Estate. The island nation won’t cede “an inch of land,” a government official pledges. – Bloomberg
  • [Sweden] Swedish Households’ Optimism on Housing Prices Is Fading – Bloomberg
  • [United Kingdom] UK house prices fall for sixth consecutive month. House prices down 0.4% between August and September – FT
  • [United Kingdom] Building firms tell Sunak undoing green policies will hit housing investment. More than 100 leading companies urge PM to reinstate net zero measures to avoid hardship for many – The Guardian
  • [United Kingdom] UK house prices drop 13.4% from peak in real terms. Inflation masks extent of decline from March 2022 record level – FT
  • [United Kingdom] More surveyors report falling UK house prices than at any time since 2009. Rics survey shows demand for homes and sales volumes also contracted in September – FT

Posted by at 9:00 AM

Labels: Global Housing Watch


Subscribe to: Posts