Housing View – August 2, 2024

On cross-country:

  • Southern Europe’s Prime Property Prices Are Booming, Study Shows. Lisbon, Madrid, Athens home values rising more than elsewhere. Prime rental market growing rapidly, outstripping sales growth – Bloomberg


Working papers and conferences:

  • Call for Papers: 16th Real Estate Markets and Capital Markets (ReCapNet) Conference KTH Stockholm 28-29 October 2024 – ReCapNet
  • How the Source of Financing Discrimination Affects Housing Opportunities for FHA Buyers – SSRN
  • Rent Control from Ancient Rome to Paris Commune: The Factors Behind its Introduction – SSRN
  • Do Inclusionary Zoning Policies Affect Local Housing Markets? An Empirical Study in the United States – SSRN


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

  • Who Is Driving Rental Demand? Hint: It’s Not Millennials Anymore. A recent report found that the youngest — and oldest — American adults are sustaining the demand for rental homes. – New York Times
  • Memo to Biden & Harris: Rent Controls Will Make Our Housing Crisis Worse – Newsweek
  • Case-Shiller: National House Price Index Up 5.9% year-over-year in May. FHFA House Price Index Unchanged in May, up 5.7% YoY – Calculated Risk and Reuters
  • Home Price Gains Moderate for Third Straight Month – NAHB
  • US CoreLogic S&P Case-Shiller Index Growth Slows Again, Up 5.9% Annually in May – CoreLogic
  • Freddie Mac House Price Index Increased Slightly in June; Up 5.1% Year-over-year. Over the last 3 months, the seasonal adjusted index has increased at a 0.8% annual rate – Calculated Risk
  • Inflation Adjusted House Prices 1.9% Below 2022 Peak. Price-to-rent index is 7.6% below 2022 peak – Calculated Risk
  • The housing market is shifting—here’s where it’s happening. These three interactive maps show where home prices are starting to show signs of softening. – Fast Company
  • US Home Sales Fell in June To Slowest Pace Since December Amid Rising Mortgage Rates, Home Prices –The Associated Press – NAR
  • Secret #74 – 6-Months of Inventory of Houses for Sale is a Lot More Than It Used to Be – Real Estate Decoded
  • Top 10 U.S. Housing Markets with Highest Priced Homes in Q2 2024 – ATTOM
  • The Week in Review. Week of July 22 – Home Sales Slump – Home Economics
  • The price of housing in the US, 1890-2006. The data suggest that both owned and rental housing prices increased more over the 20th century than previously thought, and also that overall inflation over the period may have been underestimated. – VoxEU  
  • High Rates Have Been Good for One Corner of the Mortgage Industry. Now What? Mortgage servicers have benefited in multiple ways from higher rates and a slow housing market – Wall Street Journal
  • Sellers are ‘losing their grip’ on the housing market as home prices cool, research firm says – Business Insider
  • Mortgage Applications Decrease in Latest MBA Weekly Survey – Mortgage Bankers Association
  • Approval timelines really matter for housing – Marginal Revolution
  • Solution #2 – Redesign U.S. Mortgages to Maximize Home Ownership Instead of Home Sales. Not Easy But Effective – Real Estate Decoded
  • 86% of Outstanding Mortgage Debt has a Sub-6% Rate – Realtor.com


On the US—other developments:    

  • The Housing Market Isn’t Making Sense. What’s Going On. – Barron’s
  • The Summer 2024 Wall Street Journal/Realtor.com Housing Market Ranking – Realtor.com
  • How Do We Solve America’s Affordable Housing Crisis? BU Research Helps Inspire a Federal Bill That Suggests Answers. Legislation could curtail ability of strict local zoning regulations and outspoken “not in my backyard” residents to block multifamily housing – Boston University
  • A starter home costs $1 million or more in 237 U.S. cities. California, New York, and New Jersey are home to the most cities where starter homes have a seven-digit price tag – Quartz
  • Secret #73 – Did the Internet Make the Real Estate Market LESS Rational! – Real Estate Decoded
  • America’s Top Housing Market Is in the Heartland—With Homes Below $200K in Hot Demand – Realtor.com
  • Some of America’s Poorest States Have the Highest Homeownership—the Seeming Contradiction, Explained – Realtor.com
  • 5 New Narratives About the Housing Market. It’s a post-post-pandemic market – The New Urban Order
  • Final Look at Local Housing Markets in June and a Look Ahead to July Sales – Calculated Risk
  • The Forgotten Solution to the Housing Crunch – AEI
  • Secret #76 – A Huge Property Tax Loophole for Land Speculators – Real Estate Decoded
  • Fannie and Freddie: Single Family Serious Delinquency Rate Mostly Unchanged in June, Multi-family Increased – Calculated Risk
  • Mapped: The Fastest Growing Housing Markets in the U.S. – Visual Capitalist
  • 3 Solutions – U.S. Home Ownership – Real Estate Decoded
  • Homeownership Rate Remains at 65.6% in Q2 2024 – Realtor.com
  • Homeownership among lowest-income households climbs near all-time high. That growth outpaces increases in homeownership among higher-income households – Philadelphia Fed
  • Lowest Homeownership Rate for Younger Householders in Four Years – NAHB
  • Land-Use Reforms and Housing Costs: Does Allowing for Increased Density Lead to
  • Greater Affordability? – Urban Studies
  • Reducing Housing Burdens While Creating a Longer-Term Affordable Housing Solution – Center for American Progress
  • Solution #1 – One Tax Code for Single-Family Homes and Condos – Eliminate All Landlord-Only Tax Breaks. By Far the Easiest, Cheapest and Most Effective Solution – Real Estate Decoded
  • Homeowner Equity Turns Back Upward Across U.S. in Second Quarter of 2024 as Home Values Surge – ATTOM


On China:

  • China releases five-year action plan for new people-centered urbanization – The State Council


On other countries:  

  • [Australia] The Sydney suburbs where house prices soared most over the past year – The Sydney Morning Herald
  • [Canada] Britain is planning a housing revolution – Canada should take note – The Globe and Mail
  • [Canada] Statscan study: Converting Airbnbs won’t make dent in housing crisis – The Globe and Mail
  • [Canada] Short-term rentals in the Canadian housing market – Statistics Canada
  • [Colombia] Colombia Residential Real Estate Market Analysis 2024 – Global Property Guide
  • [Cyprus] Cyprus’s Residential Property Market Analysis 2024 – Global Property Guide
  • [Hong Kong] Hong Kong’s 2024 property slump feels like it’s 1997 all over again – or is it? The housing supply pipeline may grow to 112,000 homes over the next three to four years, according to the forecast by the Housing Bureau at the end of March – South China Morning Post
  • [Hong Kong] Why Hong Kong’s property market isn’t all doom and gloom. Hong Kong’s real estate sector has endured a series of shocks, yet it is far more resilient than dire reports of its state might suggest – South China Morning Post
  • [Hong Kong] Affordable homes will give Hong Kong youth the chance to soar, not lie flat, housing chief says. Housing secretary says boost in home ownership through increased number of affordable flats will be a significant incentive for the young – South China Morning Post 
  • [Hong Kong] Hong Kong Pre-Owned Property Prices Hit Eight-Year Low – Caixin
  • [Hungary] Hungary’s Residential Property Market Analysis 2024 – Global Property Guide
  • [Morocco] Morocco Residential Real Estate Market Analysis 2024 – Global Property Guide
  • [New Zealand] New Zealand Residential Real Estate Market Analysis 2024 – Global Property Guide
  • [Spain] Barcelona wants to get rid of short-term rental units. Will other tourist destinations do the same? – AP
  • [United Kingdom] Britain’s property hotspots enjoying 20pc house price rises. Growing property fortunes reveal a narrowing North-South divide – The Telegraph
  • [United Kingdom] UK Mortgage Approvals Steady In Sign of Stable Housing Market – Bloomberg
  • [United Kingdom] Does Taxing Second-Home Owners Ever Make Sense? Tourist hotspots in the UK are increasingly raising council tax on non-residents. Will it help or hurt? – Bloomberg
  • [United Kingdom] UK house prices expected to rise over second half of year, says Zoopla. Larger number of homes for sale will help push up prices by 2%, says property portal – The Guardian

Posted by at 5:00 AM

Labels: Global Housing Watch

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