Housing View – January 19, 2024

On cross-country:

  • The housing crisis is still being underplayed. Young adults are being robbed of the milestones that marked the lives of previous generations – FT

Working papers and conferences:

  • Why Has Construction Productivity Stagnated? The Role of Land-Use Regulation – SSRN
  • The economic effects of real estate investors – Real Estate Economics
  • Monetary policy and housing market cycles – Macroeconomic Dynamics
  • Regional House Price Cohesion in the UK: Recent Trends and Covid – SSRN
  • Roof or Real Estate? An Agent-Based Model Of Housing Affordability in the Netherlands – SSRN
  • Housing Costs, College Enrollment, and Student Mobility – SSRN
  • Discrimination in the Austrian Rental Housing Market: The Effect of Information Concerning First and Second Generation Immigrant Status – SSRN
  • Housing Unaffordability in Italy: Recognising the Housing Problem Dispelling Myths – SSRN

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

  • U.S. 30-year mortgage predominance doesn’t seem to delay impact of Fed rate hikes – Dallas Fed
  • Update: The Housing Bubble and Mortgage Debt as a Percent of GDP – Calculated Risk
  • Inside a Plan to Save Homeowners Hundreds of Dollars Closing Their Mortgages. Little-known alternative to title insurance gains support from Fannie Mae – Wall Street Journal
  • Lawler: Early Read on Existing Home Sales in December. The Lowest Annual Sales Rates since 1995 – Calculated Risk
  • Hoping To Buy a Home in 2024? Here’s Where Prices Have Been Rising—and Falling—the Most – Realtor.com
  • Single Family Starts Up Year-over-year in December; Near Record Number of Multi-Family Housing Units Under Construction – Calculated Risk

On the US—other developments:    

  • Housing reform should actually add housing. Affordable-only upzonings are a big political struggle for minimal gain – Slow Boring
  • Part 2: Current State of the Housing Market; Overview for mid-January 2024 – Calculated Risk
  • 2nd Look at Local Housing Markets in December. It appears annual sales for 2023 will be at the lowest level since 1995 – Calculated Risk
  • 3rd Look at Local Housing Markets in December. Annual sales for 2023 will be at the lowest level since 1995 – Calculated Risk
  • To Ease Housing Crunch, Theme Parks Are Becoming Homebuilders. Orlando, Florida, is on the front line of an industry trend as major employers like Universal and Disney look to close the area’s workforce housing gap. – Bloomberg
  • Housing Vouchers Won’t Solve America’s Homelessness Crisis – Jacobin
  • Not Even Molten Lava Can Cool This Hot Housing Market. The eastern section of Hawaii’s Big Island continues to attract home buyers searching for a cheap piece of paradise – Wall Street Journal

On China:

  • China Housing Slump to Continue Into 2025, Says Ex-PBOC Official. Home sales will fall further this year and next, Sheng says. Green shoots emerged in November and December, he adds – Bloomberg
  • China’s Property Market May Keep Struggling Despite Stimulus. Property prices have extended their decline in the wake of property stimulus measures – Wall Street Journal

On other countries:  

  • [Australia] Neither a pandemic nor interest rate rises: can anything dent the Australian housing market? The entire political focus over the past 40 years has been to keep house prices from falling, or even abating – The Guardian
  • [Canada] Canada, facing housing shortage, to consider cap on international students – Reuters
  • [Canada] Canadian home sales jumped 9% in December, but prices continued to fall – The Globe and Mail
  • [Ireland] ‘The Social Contract Has Been Completely Ruptured’: Ireland’s Housing Crisis. Soaring rents have left many struggling to afford homes in Dublin and have created a generational divide. Two-thirds of younger adults in the city live with their parents. – New York Times
  • [New Zealand] New Zealand House Prices Rise for Third Month, CoreLogic Says. Property value gains in 2024 may undershoot expectations. Outlook hinges on whether mortgage interest rates move lower – Bloomberg
  • [New Zealand] New Zealand Houses Are Selling Faster as Buyers Return to the Market. Median time to sell in December was lowest since March 2022. House prices post first annual gain in 18 months, REINZ says – Bloomberg
  • [New Zealand] New Zealand house prices unchanged, activity improving -REINZ – Reuters
  • [United Arab Emirates] Dubai Sales of $25 Million Homes Double as Global Elite Move In. Wealthy buyers spent $2.27 billion on luxury homes last year. Most expensive transaction was for a $136 million apartment – Bloomberg
  • [United Kingdom] Why is it still so hard to build new homes in England? Politicians agree that shaking up the planning system is vital to the British economy, but Nimby-ism is stubbornly resilient – FT
  • [United Kingdom] Britain’s Biggest Mortgage Lender Is Watching for the Return of Global Inflation Pressures – Bloomberg
  • [United Kingdom] UK house prices fall at fastest pace in more than a decade. ONS data shows biggest drop in London and reflects impact of high interest rates on property market – FT
  • [United Kingdom] UK Housing Market Enters 2024 With Momentum Building, Agents Say. RICS survey finds sales picking up, pressure on prices easing. Buyer demand being boosted by decline in mortgage costs – Bloomberg

Posted by at 5:00 AM

Labels: Global Housing Watch


Subscribe to: Posts