Housing View – June 7, 2024

On cross-country:

  • Demographia International Housing Affordability—2024 Edition – Demographia
  • Secret #17 – U.S. Housing Policies Almost Moved Toward Vienna or Singapore in the 1960s – Real Estate Decoded

Working papers and conferences:

  • The Evolving Structure of Housing Markets: Institutional Investors and Their Influential Role During the Great Recession – Philadelphia Fed
  • Temperatures and Search: Evidence From the Housing Market – SSRN
  • The Capitalization of Energy Labels into House Prices. Evidence from Italy – SSRN

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

  • US Homebuyers Start to Revolt Over Steep Prices – Bloomberg
  • Developers Sit on Empty Lots After Historic Apartment Boom. Higher interest rates and flattening rents scuttle projects – Wall Street Journal
  • Final Look at Local Housing Markets in April and a Look Ahead to May Sales – Calculated Risk
  • Freddie Mac House Price Index Increased in April; Up 6.5% Year-over-year. Over the last 3 months, the seasonal adjusted index has increased at a 3.7% annual rate – Calculated Risk
  • Private Residential Construction Spending Edges Up in April – NAHB
  • These US cities are due for a housing price drop, real estate analysts find – The Hill
  • Housing Vacancies and Homeownership – US Census
  • Asking Rents Mostly Unchanged Year-over-year – Calculated Risk
  • Renters Are Staying Longer Amid Rising Housing Costs And High Mortgage Rates – Yahoo Finance
  • May 2024 Monthly Housing Market Trends Report – Realtor.com
  • Single-Family and Multifamily Production Headed in Opposite Directions Across Geographies – NAHB
  • US Home Price Insights – June 2024 – CoreLogic

On the US—other developments:    

  • What’s actually happening in the housing market, according to top housing economist Ali Wolf. There’s been a major shift in the market, says housing economist Ali Wolf—and the big builders are dominating. – Fast Company
  • The Week in Review. Week of May 27th — Rents Retreat as Prices Peak – Home Economics
  • Secret #16 – Economic Fundamentals Explain Less Than Half of House Price Changes – Real Estate Decoded
  • Secret #19 – Worse Than Redlining. To Be Pre-Approved for FHA Mortgages, FHA Required New Home Builders to Ban ALL Sales to Blacks – Real Estate Decoded
  • What Is Fair Housing? There are laws to protect people from discrimination in buying, renting and living in their homes. – New York Times
  • Don’t Give Up, Buyers: Real Estate Today Is Still a Seller’s Market, but Moving Toward Balance – Realtor.com
  • Fannie and Freddie: Single Family Serious Delinquency Rate Decreased in April, Multi-family Increased Slightly. CoreLogic: “U.S. delinquency rate increased from a year earlier in March, driven by an uptick in early-stage delinquencies” – Calculated Risk 
  • Residential Construction AD&C Lending Declines – NAHB
  • Four Years After Covid: Downtown Recovery Remains Weak – Apollo
  • Secret #20 – From 1940 to 1970 the Black Home Ownership Rate Increased More in the South than the North – Real Estate Decoded
  • The Housing Policy Implications of Taylor Swift – Reason
  • Essay on “How Constitutional Litigation Can Help End Exclusionary Zoning” – Reason
  • How the Housing Market is Changing in Cities Gaining the Most New Neighbors – Zillow
  • Rebuilding the Construction Trades Workforce – Harvard Joint Center for Housing Studies
  • New York’s housing crunch collides with development skeptics. Neighborhoods that have maintained a suburban feel are fighting Adams’ plan to grow the city’s housing supply. – Politico

On China:

  • China’s Biggest Cities See Housing Market Pick Up After Easing. Shanghai, Shenzhen buyers show interest in new and used homes. Analysts, investors are optimistic worst of slump may be over – Bloomberg
  • All the Tools the PBOC Has to Support China’s Property Sector. Focus of latest relending program is excess housing inventory. Central bank programs can be expanded if needed: analysts – Bloomberg
  • China needs to inject US$276 billion into property market to stabilise prices: Goldman Sachs. The funding need is based on the 20 trillion yuan inventory the US investment bank estimates exists in the 80 mainland Chinese cities it tracks. ‘So far, the scale of policy support is not sufficient to move the needle’, the bank says – South China Morning Post
  • Guess Who’s Angry at China’s Real Estate Bailout: Homeowners. China has relaxed or eliminated measures on home buying to spur new purchases. This has made a vocal constituency of existing homeowners very unhappy. – New York Times

On other countries:  

  • [Australia] Australia’s Home Price Gains Quicken With Sydney at Record High – Bloomberg
  • [Australia] Australia home prices continue to climb, Sydney back at record high – Reuters
  • [Australia] Australian Home Loans Jump as Rental Yields Lure Investors. Home loans to investors climbed 36.1% in April from a year ago. Gross rental yield highest since Aug 2019, CoreLogic data show – Bloomberg
  • [Canada] Could a housing revolution transform Canadian cities? – BBC 
  • [India] India’s home prices to rise steadily, affordable housing supply to lag demand: Reuters poll – Reuters
  • [Netherlands] The Netherland’s Residential Property Market Analysis 2024 – Global Property Guide
  • [Portugal] Portugal to use golden visa scheme to help migrants, build affordable homes – Reuters
  • [Singapore] Singapore’s Residential Property Market Analysis 2024 – Global Property Guide
  • [Ukraine] Development of mortgages in Ukraine – VoxEU
  • [United Kingdom] UK house prices return to growth as market ‘shows signs of resilience’. Rate more than doubles to 1.3% in May and average property price rises to £264,249, Nationwide says – The Guardian

Posted by at 5:00 AM

Labels: Global Housing Watch


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