The Unassuming Economist

On cross-country:

• Are foreigners inflating property prices? – BFM

On the US:    

• New Fed Paper Finds Surging Home Prices Driven by Demand — Not Supply – Bloomberg
• Volatility in Home Sales and Prices: Supply or Demand? – Federal Reserve Board
• What’s behind the rising rents and what can be done? – Washington Post
• Relief Eludes Many Renters as Fed Raises Interest Rates. As the central bank sharply increases borrowing costs, it could lock would-be home buyers into rentals and keep a hot market under pressure. – New York Times
• Remodeling Market Declines Year-over-Year – NAHB
• The Great Appreciation Of Home Prices Is Now Over – Forbes
• Housing Shortage Spreads Across US, Becoming Coast-to-Coast Crisis. New analysis shows deficits surging just before the pandemic, even in areas that had few supply challenges a decade ago. – Bloomberg
• What’s Up With the Crazy Housing Market? Rising mortgage rates. Faltering home sales. Skyrocketing rents. Here’s how to make sense of a baffling real estate market. – New York Times
• Housing inventories may note save prices after all – Washington Post
• The United States Must Deliver on Equitable Housing Outcomes for All. Federal investments kept millions of Americans in their homes during the pandemic; in the long term, commitment to bold federal housing policy can eliminate housing insecurity for millions while uplifting historically disadvantaged communities. – American Center for Progress
• Who’s To Blame for Gentrification? Most likely, no one in particular—but policy changes can alleviate the housing shortage and prevent displacement. – Planetizen
• Why this tightening cycle is so brutal for the US housing market – Quartz
• Housing-Affordability Index Drops to Lowest Level Since 2006. Mortgage rates and home prices are up sharply, pressuring buyers and driving sellers to cut prices – Wall Street Journal 
• The Coming Housing Risks – American Action Forum
• The cities where house prices are most likely to fall – Axios
• The great house U.S. price boom continues – Global Property Guide
• Inflation Expectations Increase at Short Term, But Decline at Medium and Longer Terms; Home Price Growth Expectations Decline Sharply – New York Fed
• How to limit the risks to financial stability posed by the Federal Home Loan Bank System – Brookings
• Housing Could Provide More Fuel for Inflation. Other consumer prices might need to post big drops for the Fed to see overall inflation fall – Wall Street Journal

On China

• Is China Stumbling Into Its Own Mortgage Crisis? A rapidly spreading protest — borrowers refusing to make payments on unfinished homes — threatens to rattle the financial system. – Bloomberg
• China Convenes Banks on Mortgage Boycott Roiling Markets. Officials asked for information on impact of housing loan snub. More buyers refuse to pay loans on unfinished home projects – Bloomberg  
• Chinese Homebuyers Across 22 Cities Refuse to Pay Mortgages. Home loan payment halts may cause $83 billion of bad debt. China Construction Bank, Postal Bank, ICBC may be more exposed – Bloomberg
• China developers face $13bn wall of dollar bond payments in second half. Foreign investors fear Beijing will favour onshore creditors as Shimao Group becomes latest to default – FT

On other countries:  

• [Cambodia] Cambodia’s house prices plunging – Global Property Guide
• [Ireland] Taxes Can Ease House Price Volatility, Irish Central Bank Says – Bloomberg
• [Sweden] Swedish Home Price Expectations Drop to Lowest Level Since 2008. SEB survey points to worsening price outlook for houses. The Riksbank sees home prices falling 16% through end of 2023 – Bloomberg
• [Thailand] Thailand’s housing market continues to slow – Global Property Guide
• [United Kingdom] UK house prices rise at fastest rate in 18 years. Typical home goes for record £294,845 as property shortage drives up costs for buyers – FT
• [United Kingdom] Covid-19 and the curious case of the rental bust-up that never came. An arbitration scheme to handle pandemic rental arrears is currently virtually unused – FT