Housing View – May 3, 2024

On cross-country:

  • How the Super Rich Are Developing Their Own Real Estate Markets. The boom in ultra-luxury accommodation. – Bloomberg

Working papers and conferences:

  • Event: Not Your Typical Cycle: Where Does Real Estate Go From Here? On May 8 – Dallas Fed
  • House Prices and Declining Internal Migration in the United States – NBER
  • The Housing Supply Channel of Monetary Policy – SSRN
  • The Effect of House Prices on Fertility: Evidence from House Purchase Restrictions – SSRN

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

  • Wall Street Has Spent Billions Buying Homes. A Crackdown Is Looming. Lawmakers say investors that scooped up hundreds of thousands of houses to rent out are driving up home prices – Wall Street Journal
  • Case-Shiller: National House Price Index Up 6.4% year-over-year in February. FHFA: House Prices Increased in February, up 7.0% YoY – Calculated Risk
  • We need to fix New York’s broken rental system. Renters in New York City face prohibitive fees to get into a new home. Zillow is working to change that. – Zillow
  • The build-to-rent housing market has grown more than 300% since 2019. In 2023, there were a record-breaking 27,495 build-to-rent homes completed, according to a new report. These 20 housing markets saw the biggest increases. – Fast Company

On the US—other developments:    

  • The crippling home insurance crisis hitting America. While climate is changing, the model for insurance has not – FT
  • Federal Housing Plan: Ambition and Reality – TD
  • Biden’s Plan for Unaffordable Housing. A new HUD energy rule will raise the cost of home construction when homes are already out of reach for many Americans. – Wall Street Journal
  • After decades of inaction, states are finally stepping up on housing. The affordability crisis is forcing politicians’ hands. – Vox 
  • How Rising Costs Affect Home Affordability – NAHB
  • ADUs could expand the affordable housing toolkit—if local governments can work through some growing pains – Brookings
  • Can New Suburban Housing Make Urban Areas More Affordable? – Harvard Joint Center for Housing Studies
  • The Gen-Z Advantage in Housing. A study suggests that Gen Z has it better in the housing market than the millennials who came before them. – New York Times
  • Fannie and Freddie: Single Family Serious Delinquency Rate Decreased, Multi-family Decreased in March. CoreLogic: “US Mortgage Delinquency, Foreclosure Rates Hover Near Historic Lows” – Calculated Risk
  • San Francisco Buyers Bring Its Luxury Housing Market Back to Life. A recovery is under way in the Bay Area, as interest-rate shock finally wears off and stock-market gains fuel high-end home sales – Wall Street Journal
  • Young Americans Are Getting Left Behind by Rising Home Prices, Higher Stocks. Higher asset prices are considered signs of a good economy. But for many, they hurt more than help. – Wall Street Journal
  • Biden Rolls Out New Minimum Energy Standards for Affordable Housing. Updated efficiency standards for new federal affordable housing construction could save lower-income renters and homeowners tens of millions of dollars each year. – Bloomberg 
  • The Spring 2024 Wall Street Journal/Realtor.com Housing Market Ranking – Realtor.com
  • Here’s How Immigration Will Boost the US Economy, From Strong Hiring to More Housing. Migrants seen increasing pace of job growth, consumer spending. More construction workers may also mean more completed housing – Bloomberg
  • Housing Share of GDP Surpasses 16% for First Time Since 2022 – NAHB
  • Florida and Texas have a surging supply of houses — but people aren’t buying. Home-building really took off in Florida and Texas in the aftermath of the pandemic. Now many of these new developments are sitting empty – Quartz
  • Affordable housing crisis looms large in election – The Hill

On China:

  • UBS Analyst Who Took On Evergrande Now Bullish on China Property. Lam sees a gradual recovery in the beaten-down property sector. Analyst was among the first to put a sell rating on Evergrande – Bloomberg
  • China Home Sales Keep Falling as Top Officials Pledge Support – Bloomberg

On other countries:  

  • [Australia] Australian Home Prices Climb Further as Downside Risks Build – Bloomberg
  • [Canada] Mortgage stress tests cause more harm than good. Here’s how to fix them – Globe and Mail
  • [Canada] Canada’s house prices increasing again – Global Property Guide
  • [Canada] Housing Shortages and Immigration Booms Are Colliding. On today’s Big Take podcast: What happens when rapid immigration meets slow housing production. – Bloomberg
  • [New Zealand] New Zealand House Prices Dip For The First Time in Eight Months – Bloomberg
  • [Hong Kong] Hong Kong banks can absorb risks from falling property prices – S&P Global
  • [United Kingdom] UK House Prices Fall Again After Mortgage Rates Creep Higher. Nationwide suggests property market has stagnated again. High cost of purchase and borrowing strains affordability – Bloomberg
  • [United Kingdom] UK house prices fall unexpectedly for second month in a row. Nationwide data reflects impact of recent rise in mortgage rates – FT and The Guardian  

Posted by at 5:00 AM

Labels: Global Housing Watch


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