The Unassuming Economist

On prices, rent, and mortgage:    

• House Prices to Income. New Data for 2024 Wages Released In October – Calculated Risk
• Easing Rates, Limited Relief: U.S. Housing’s Gradual Recovery – TD
• Freddie Mac House Price Index Up 1.0% Year-over-Year in September. Punta Gorda House Prices Down Over 20% from Recent Peak – Calculated Risk
• Lowest Mortgage Rates in Over a Year in October – NAHB
• Falling Mortgage Rates Boost Housing Market for Now—as Government Shutdown Enters Second Month, Clouding Outlook – Realtor.com
• Risky Loan From Housing-Bust Era Is Making a Comeback. Buyers embrace adjustable-rate mortgages, chancing higher payments later for lower ones now – Wall Street Journal
• Bessent says high US interest rates may have caused housing recession – Reuters
• Asking Rents Mostly Unchanged Year-over-year – Calculated Risk
• The 5 best cities in America for renters — and 5 where you should buy instead. Some U.S. cities reward renting, others make buying the smarter bet. Here’s where the numbers favor each move, according to new 2025 data – Quartz
• Lawler: Single-Family Rent Trends at INVH and AMH – Calculated Risk
• Q3 NY Fed Report: Mortgage Originations by Credit Score, Foreclosures Increase Slightly – Calculated Risk
• Home Price Growth in Opportunity Zones Slightly Behind Rest of Nation in Second Quarter – ATTOM

On sales, permits, starts, and supply:    

• More Home Purchases Are Falling Through in an Uncertain Economy. Buyers worried about job prospects are getting cold feet, or realizing that costs will be higher than expected – Wall Street Journal
• October 2025 Monthly Housing Market Trends Report – Realtor.com
• Bedrooms in New Single-Family Homes in 2024 – NAHB
• Builders Are Offering Mortgage Rate Discounts. Home Buyers Aren’t Biting. New homes are sitting unsold, despite the discounted mortgages that builders are offering – Wall Street Journal
• Multifamily Developer Confidence Increases in Third Quarter, But Still in Negative Territory – NAHB
• 1st Look at Local Housing Markets in October – Calculated Risk

On other developments:    

• What Will It Take to Solve America’s Housing Crisis? New research from Wharton’s Joseph Gyourko looks back 50 years to explain why home prices are so high now. – Wharton
• Housing Inequality Will Get Worse Before It Gets Better – Bloomberg
• Government Shutdown Forces Homebuyers Back Onto Sidelines in Hardest Hit Markets – Realtor.com
• Stabilization and Speculation. Struggles over New York City’s housing policy – Phenomenal World
• Why American Housing Markets Have Stalled – Forbes
• Mamdani Has a Point About Rent Control. In an interview, the candidate argued that the policy is essential to get voters on board with pro-housing reforms. – The Atlantic
• New York Real Estate Expert Warns Mayoral Election Will ‘Change Everything’ for Housing—but Insists Residents Shouldn’t ‘Panic’ – Realtor.com
• Rising Unemployment Could Worsen Young Adults’ Housing Challenges – Harvard Joint Center for Housing Studies
• Prospects for Improving Housing Affordability – Econofact
• Zohran Mamdani Wins New York City Mayoral Election—After Promising Sweeping Tax and Housing Changes – Realtor.com
• Homeownership costs, dropping home values hit Black households hardest. Minority households are more likely to be cost-burdened, spending more than 30% of their income on mortgage, property taxes and insurance – Zillow
• What Do Home Mortgage Disclosure Act Data Tell Us about the Southeast? – Atlanta Fed
• The Folly of ‘Affordability’ Politics. Americans are understandably frustrated by higher prices. But politicians like Zohran Mamdani, who promise to lower costs instantly, are selling economic fantasies. – The Free Press
• Sell or Stay? The High-Stakes Decision Facing Real Estate Investors – Realtor.com
• New Yorkers Pass Ballot Measures Tackling City’s Housing Crunch. The proposals aim to accelerate development and boost affordable housing. – Bloomberg
• Housing in Recession: Interest Rates or Policy Uncertainty – Econbrowser