The Unassuming Economist

On cross-country:

• House prices and rents went up in Q3 2024 – Eurostat
• House prices up by 2.6% in the euro area – Eurostat

Working papers and conferences:

• Drivers and Effects of Residence and Citizenship by Investment – IMF
• Was China’s Housing Boom a Bubble? – St Louis Fed
• Chinese Housing Market Sentiment Index: A Generative AI Approach and An Application to Monetary Policy Transmission – IMF
• House Prices and Systemic Events Over the Last Six Centuries – SSRN
• House Relistings and Economic Cycles – SSRN
• Wealth and Risk Attitude: Evidence from a House Price Hike Natural Experiment – SSRN
• House Price Markups and Mortgage Defaults – SSRN

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

• Zillow predicts 2025’s hottest real estate markets – Axios
• The Best Markets for First-Time Homebuyers in 2025 Revealed – Realtor.com
• U.S. Mortgage Rates Climb to Highest Since July. More expensive mortgages are a drag on a full-fledged housing recovery, economists say – Wall Street Journal
• Residential Construction Loan Volumes Decline Over the Third Quarter – NAHB
• The U.S. Has More Fancy Apartments Than It Is Able to Fill. Real-estate developers have built a glut of high-end properties instead of badly needed affordable housing – Wall Street Journal
• 83% of Outstanding Mortgage Debt Has a Sub-6% Rate – Realtor.com
• Housing market shift: 9 states where housing inventory is giving buyers more power. 9 states are back above pre-pandemic housing inventory levels, according to ResiClub’s monthly housing inventory report. – Fast Company
• America’s Housing Crisis: A Federal Policy Agenda for Expanding Supply and Affordability – George Bush Presidential Center
• 2nd Look at Local Housing Markets in December. Likely Sales up Year-over-year for 3rd Consecutive Month – Calculated Risk
• Part 1: Current State of the Housing Market; Overview for mid-January 2025 – Calculated Risk
• Part 2: Current State of the Housing Market; Overview for mid-January 2025 – Calculated Risk
• Residential Construction Inputs Price Growth Slows in 2024 – NAHB
• Single-Family Permits Up in November 2024 – NAHB
• Housing Inflation Moderates Amid Higher Energy Costs – NAHB
• Mortgage Applications Increase in Latest MBA Weekly Survey – MBA
• Home Price Growth Reaccelerates in Fourth Quarter – Fannie Mae

On the US—other developments:    

• ‘I Don’t Think There’s Much Left’: L.A. Fires Force Thousands to Look for Temporary Housing. Displaced Los Angeles residents face tough search for temporary and longer-term accommodations – Wall Street Journal
• Wildfires Will Deepen Housing Shortage in Los Angeles. With so many people displaced and looking for rentals, the region’s housing options could grow even scarcer and more expensive. – New York Times
• Their homes torched amid a housing crisis, L.A. residents wonder where to go. With thousands of houses destroyed by fire, the most populous county in the United States must confront the fraught logistics of rebuilding. – Washington Post
• Wealthy Homeowners and Their Insurers Turn to Hired Help to Fight L.A. Wildfires. As fires become more frequent and expensive, some insurers pay for private firefighting crews – Wall Street Journal
• LA fire victims fear new housing crisis – BBC
• Economic Toll of Los Angeles Fires Goes Far Beyond Destroyed Homes. The ongoing disaster will affect residents’ health, local industries, public budgets and the cost of housing for years to come. – New York Times
• The country needs to build homes and community like Jimmy Carter – Brookings
• Update: The Housing Bubble and Mortgage Debt as a Percent of GDP – Calculated Risk
• Housing Sentiment Finishes 2024 Higher Despite December Dip. Mortgage Rate Optimism Primary Driver of Year-over-Year Improvement – Fannie Mae
• Questioning the Housing Crisis: Recap and Wrap-Up – Cato Institute
• Three-Quarters of Americans View Homeownership as Part of the American Dream – Realtor.com
• How is climate change impacting home insurance markets? – Brookings
• Surprising Illinois City Becomes the Hottest Housing Market for the First Time – Realtor.com 
• Biden-⁠Harris Administration Takes Final Actions to Build More Housing and Bolster Renter Protections – White House
• First-Time Homeownership Became Less Affordable Across Most of the United States in Recent Years – Kansas City Fed

On Australia and New Zealand:

• [Australia] Why housing economists got it wrong on Perth, Melbourne prices – Financial Review
• [Australia] There’s an easy solution to housing affordability. But voters hate it – The Sydney Morning Herald
• [Australia] Middle-income Australians experiencing rental stress with a third of pay spent on housing, report shows. Rent has increased by 36% nationally since Covid, CoreLogic finds, which equates to an extra $171 a week on average – The Guardian

On other countries:  

• [Monaco] Monaco’s Residential Property Market Analysis 2024 – Global Property Guide
• [Netherlands] The Netherland’s Residential Property Market Analysis 2025 – Global Property Guide
• [Peru] Peru’s Residential Property Market Analysis 2025 – Global Property Guide
• [Serbia] Serbia’s Residential Property Market Analysis 2025 – Global Property Guide
• [Spain] Spain to Try to Limit Real Estate Purchases by Non-EU Residents – Bloomberg
• [Spain] Spain plans 100% tax for homes bought by non-EU residents – BBC and Bloomberg
• [Spain] El apetito de los extranjeros por comprar una vivienda en España tras la pandemia. La demanda extranjera es un pilar fundamental para explicar la fortaleza de la demanda de vivienda en el ciclo expansivo actual.– CaixaBank
• [Spain] Spain Property Firms Slam Sanchez Bid to Slug Foreigners on Tax. Plan to tax overseas home purchases seen as grandstanding. Spanish premier faces pressure to act following protests – Bloomberg
• [United Arab Emirates] Dubai’s World Beating Property Rally Shows Signs of Strain. New residents pushed property prices 20% higher in 2024. Rise in home prices is expected to slow in the coming year – Bloomberg
• [United Arab Emirates] UAE’s Residential Property Market Analysis 2025 – Global Property Guide
• [United Kingdom] The decline in remote working hits Britain’s housing market. A return to the office means a return to town – The Economist