On cross-country:
- Why Interest Rate Cuts Won’t Fix a Global Housing Affordability Crisis. Central bankers are lowering borrowing costs, but that won’t be a cure-all for a widespread lack of affordable housing. – New York Times
- Concern over housing costs hits record high across rich nations. Surge in mortgage costs and higher rents have combined with chronic shortage of building to stoke crisis – FT
- Already expensive global house prices to get modest boost from rate cuts: Reuters poll – Reuters
Working papers and conferences:
- Assessing expectations of European house prices – Econstor
- Understanding the effects of the cost-of-living crisis: The role of interest rates and mortgage debt – VoxEU
- Tracking the Impact of Short-Term Rental Regulation – NBER
- When Is Shelter Services Inflation Coming Down? – San Francisco Fed
- The Aggregate and Distributional Implications of Credit Shocks on Housing and Rental Markets – SSRN
- Partial Homeownership: A Quantitative Analysis – SSRN
- Understanding Spatial House Price Dynamics in a Housing Boom – SSRN
On the US—developments on house prices, rent, permits and mortgage:
- Expert Panel Predicts Home Price Growth Will Decelerate in 2024 and 2025. Panel Also Shares Thoughts on Most Impactful Potential Policy Reforms to Boost Housing Supply – Fannie Mae
- The Week in Review. Week of August 26 — Prices Decelerate, Rents Recede – Home Economics
- Why Are Multifamily Property Prices Falling? More recently, prices have retreated in the face of higher interest rates, slower rent growth, elevated operating expenses, and increased delivery of new units available for rent. However, the deterioration in these fundamentals does not fully explain recent property price declines, suggesting investors’ near-term outlooks have been pessimistic. – Kansas City Fed
- Airbnb Urges NYC to Scale Back Short-Term Rental Regulations. Airbnb short-term rentals in NYC have fallen by 83% in a year. Company says travelers are priced out and hosts are struggling – Bloomberg
- Economies of Scale in Single-family Home Construction – NAHB
- HBGI Q2 2024: Single Family Growth vs. Multifamily Decline – NAHB
- US construction spending falls more than expected in July – Reuters
- Private Residential Construction Spending Inches Down in July – NAHB
- The Nation’s Stock of Second Homes – NAHB
- US Mortgage Rates Continue to Ease on Expectations of Fed Move. Purchase applications rose 3.3% as borrowing costs edged lower. 30-year mortgage rates fell for fifth week, MBA survey shows – Bloomberg
- Honey, I Shrunk the Mortgage Rate! – Realtor.com
- Harris Has a Plan to Raise Homeownership. Builder Stocks Rejoice – Bloomberg
- US homebuilders face credit crunch as banks cut lending. Housing starts are on track to fall 16% this year according to government data – FT
- Construction Labor Market is Cooling – NAHB
- House Price Appreciation by State and Metro Area: Second Quarter 2024 – NAHB
On the US—other developments:
- Harris and Trump Have Housing Ideas. Economists Have Doubts. The two presidential nominees are talking about their approaches for solving America’s affordability crisis. But would their plans work? – New York Times
- No amount of personal responsibility will make the housing market fair. Kamala Harris has a questionable housing plan. Meanwhile, workers struggle to find homes. – Washington Post
- This Is How To Fix the Housing Crisis – New York Times
- How to fix a housing shortage – NPR
- Who’s Responsible for the Housing Crisis? How local governments broke America’s housing markets – The Atlantic
- California’s Housing and Wildfire Crises Are on a Collision Course. Environmentalist are increasingly using burn risks to halt huge home developments in the state—but some say they go too far – Wall Street Journal
- Rental Markets Are Cooling, but Rents Still Far Exceed Pre-Pandemic Levels – The Harvard Joint Center for Housing Studies
- The New Home Financing Rule of Thumb Is Why Regular Americans Can’t Afford To Buy a House – Realtor.com
- What Would New York City’s Housing “Moonshot” Look Like? – Manhattan Institute
- New releases from Atlantic Editions: On Heroism, by Jeffrey Goldberg, and On the Housing Crisis, by Jerusalem Demsas – The Atlantic
- Homes Near Top-Rated Schools Cost Nearly 80% More—but Homebuyers Can Still Find Bargains by Giving Up One Thing – Realtor.com
- Housing Markets in California, New Jersey and Illinois Still have Elevated Risk of Downturns in Second Quarter of 2024 – ATTOM
On China:
- China Considers Allowing Refinancing on $5.4 Trillion in Mortgages. Plan would let homeowners switch banks for cheaper loans. Property slump has dragged down consumption, household wealth – Bloomberg
- China Mortgage Stock Falls to Lowest Since 2021 as Demand Cools. Decline shows households are refraining from borrowing. Weak confidence threatens to put 5% growth target out of reach – Bloomberg
- China is fixing housing market with a long gaze – Reuters
- Why It’s So Hard for China to Fix Its Ailing Economy. A real estate collapse has made consumers cautious and businesses wary, as China confronts a crisis unlike any other since it opened its economy to the world. – New York Times
- China Property Slump Spurs Local Governments’ Quest for Cash. For the first seven months of 2024 local government proceeds from land sales slid over 20% – Wall Street Journal
- China Weighs Cutting Mortgage Rates in Two Steps to Shield Banks. Officials proposed rate cuts of about 80 basis points: people. Move to boost household consumption, ease pressure on banks – Bloomberg
On Australia and New Zealand
- [Australia] Australian House Prices Extend Rise But Momentum Fades. Home values increased 0.5% nationally in the month of August – Wall Street Journal
- [Australia] Growth cools in Australian housing values through winter as Melbourne median slips below Perth and Adelaide – CoreLogic
- [Australia] Australian Home Prices Climb as Perth and Adelaide Lead Gains – Bloomberg
- [Australia] Australia home prices nudge higher in August but quarterly pace slows – Reuters
- [Australia] Australia’s two-speed housing market – MacroBusiness
- [New Zealand] New Zealand house prices to rise 6% next year on lower interest rates – Reuters
- [New Zealand] Brighter future for small investors and relocating owner-occupiers as market conditions shift – CoreLogic
- [New Zealand] New Zealand house prices to rise 6% next year on lower interest rates – Reuters
- [New Zealand] New Zealand House Prices Fall for Sixth Month as Rates Take Toll – Bloomberg
- [New Zealand] Confidence in property market takes a nose dive, survey shows – RNZ
On other countries:
- [Canada] Toronto Home Sales Tick Higher as Borrowing Costs Decline. Transactions rose by 0.6% in August as buyer demand recovers. Home prices were little changed from a month earlier – Bloomberg
- [Canada] Bank of Canada’s Tiff Macklem forecasts rent decreases, but rise in home prices are possible – The Globe and Mail
- [Japan] Japan’s Era of ‘Free’ Mortgages Is Coming to an End. Homeowners are gearing up to pay more on their loans as the Bank of Japan’s rate increases signal the end of decades of ultralow interest rates. – New York Times
- [Korea] Seoul Apartment Purchases Drop, Boosting Odds of BOK Rate Cut – Bloomberg
- [Ireland] Homeless families should get dedicated portion of new social housing supply, Focus Ireland says. Charity calls for more one-bed and family accommodation as it reveals a 12.5% increase in the number of people it supported in 2023 – The Irish Times
- [Norway] Norway’s Home Prices Shrug Off Decline to Rebound in August – Bloomberg
- [Sweden] Swedish Home Prices Regain Some Ground as Interest Rates Decline – Bloomberg
- [United Kingdom] UK House Prices Post Surprise Fall Despite BOE Rate Cut. Average price down 0.2% in August to £265,375, Nationwide Says. But rising mortgage approvals point to stronger autumn – Bloomberg
- [United Kingdom] UK house prices rise at fastest pace since late 2022. Mortgage approvals reach highest level since market was hit by Liz Truss’s mini-Budget – FT
- [United Kingdom] Soaring costs squeeze landlords’ margins. Ground rents, rates and insurance add to mortgage costs – FT
- [United Kingdom] Greens appeal to renters with regulator that could fine real estate agencies. Creating a national renters protection authority is one of several policies party is taking to election as possible kingmakers in a hung parliament – The Guardian
- [United Kingdom] Manchester named top hotspot for first-time buyers in Halifax study. Research covering UK outside Greater London places city ahead of Slough, Sandwell and others – The Guardian