The Unassuming Economist

On prices, rent, and mortgage:    

• Trump calls 50-year mortgages no ‘big deal’ as right-wing conservatives balk – Reuters
• Will a 50-Year Mortgage Make Homes More Affordable? Here’s How It Would Work. A mortgage this long would reduce a home buyer’s monthly payments, but the interest owed would be much higher – Wall Street Journal
• Why Lower Mortgage Rates Aren’t Enough to Make Homes Affordable, in Charts. Many hopeful buyers need more than lower rates to afford a house – Wall Street Journal
• The Housing Industry’s Take on the 50-Year Mortgage. The hint of a 50-year mortgage by President Donald Trump has spawned differing opinions and new insight into what’s possible for housing affordability. – Builder
• 3 questions about Trump’s 50-year mortgage plan – NPR
• Trump’s 50-Year Mortgage Loses Steam as Industry Questions Costs – Bloomberg
• Builders’ Cheap Mortgages Are a Bad Deal for Home Buyers. People who borrow from a builder are more likely to overpay for their property and be underwater after they move in – Wall Street Journal
• Adjustable-Rate Mortgage Applications Rise – NAHB
• Unchanged Lending Conditions for Residential Mortgages in Third Quarter – NAHB
• Monitoring Employment for Home Price Cues – Home Economics
• Home Prices Keep Rising: 10 Markets Seeing the Sharpest Increases – National Association of Realtor
• The Most Rent-Burdened States in America – Visual Capitalist
• What Mamdani Can Learn From Cairo About Rent Control – Bloomberg
• November ICE Mortgage Monitor: Home Prices “Firmed” in October, Up 0.9% Year-over-year – Calculated Risk
• The decade of regulation: How New York City’s housing policies fueled rental inflation. Understanding how regulatory layering has driven rental inflation in New York City is critical to forging solutions that restore the rental market. – Reason

On sales, permits, starts, and supply:    

• Which Local Markets Track National Trends the Most: 2024 Multifamily MAI – NAHB
• Remodelers on the Rise: How Renovation is Reshaping Residential Construction – NAHB
• 2nd Look at Local Housing Markets in October – Calculated Risk
• Part 1: Current State of the Housing Market; Overview for mid-November 2025 – Calculated Risk
• Part 2: Current State of the Housing Market; Overview for mid-November 2025 – Calculated Risk

On other developments:    

• The staircase rule that’s limiting housing growth. Revisiting the two-stair requirement in building code could improve spatial efficiency and expand housing options. – Reason
• Why Is the Cost of Owning a Home So High Now? It’s getting tougher than ever to become a homeowner, especially for first-time buyers. A Tufts economist explains why – Tufts Now
• Virginia Is Struggling in Affordability and Homebuilding: Can Spanberger Get the State Building Again? – Realtor.com
• Mississippi Is Struggling in Affordability and Homebuilding: Can Gov. Reeves Build Momentum? – Realtor.com
• Record Shutdown Clouds Economic Data, and Housing Is Caught in the Middle – Realtor.com
• Why More Housing Is Key to a Thriving Economy. ‘A strong community is really dependent on a strong economy and also a strong workforce. And in order to have those things you need an affordable home so that employees can easily get to their job.’ – US Chamber of Commerce
• More Cities Are Turning Into Buyer’s Markets—Where Homebuyers Now Have the Upper Hand – Realtor.com
• Dream Home Sooner: How a 0% Down VA Loan Cuts 4.4 Years Off the Wait – Realtor.com
• The Difference Between Affordable Housing and Housing that’s Affordable – Politico
• ATTOM Reveals Best Day to Buy a Home Based on Lowest Premium Above AVM – ATTOM
• AI Layoffs Are Spiking—Could They Be the Housing Market’s Next Shock Wave? – Realtor.com
• U.S. Cross-Sector Housing Monitor: 2H25 – FitchRatings
• Washington, DC, Is Failing in Affordability and Homebuilding: Can Mayor Bowser Reverse the Trend? – Realtor.com  
• U.S. Foreclosure Activity Posts Eighth Straight Month of Year-Over-Year Increases – ATTOM
• Trump Administration Expected to Drastically Cut Housing Grants. In a major shift, HUD’s plan would direct most of the $3.5 billion in homelessness funds away from Housing First to programs that prioritize work and drug treatment. – New York Times
• How this major city became one of America’s most affordable for home buyers. While there are many yardsticks for calculating housing affordability, Pittsburgh stands out as uniquely livable – Washington Post  
• U.S. Housing Economy Cools Further with Higher Costs, Weaker Demand – Fitch Ratings

On cross-country:

• What is driving European cities’ housing affordability challenge? Housing affordability has emerged as a central challenge across Europe, particularly in major cities and tourist hotspots. – Oxford Economics
• Has Airbnb reached its peak? Brian Chesky, its boss, wants to offer more than just a bed to sleep on – The Economist
• Tourism, Short-Term Rentals and Housing Affordability – European Parliament
• Housing Challenges for Young Europeans – European Parliament
• La especulación inmobiliaria sacude Europa. Las dificultades para los ciudadanos se han agravado a medida que han retrocedido las políticas sociales – El Pais

Working papers and conferences:

• Monetary Policy and Housing Overvaluation – NBER
• Planes Overhead: How Airplane Noise Impacts Home Values – NBER
• Building Segregation: The Long-Run Neighborhood Effects of American Public Housing – UC Davis
• Global Tides on Local Shores: how do international capital flows affect house prices? – University of Zurich
• Aging and Housing Returns – Philadelphia Fed
• The Role of Single-Family Rentals in the U.S. Housing Market – St. Louis Fed
• Multifamily housing operators describe a “precarious position”. Apartment owners and managers report more financial stability now than last year, but say there’s lots more uncertainty ahead – Minneapolis Fed

On Australia and New Zealand:

• [Australia] There’s a catch in the plan to build more affordable housing in Sydney – and tenants are feeling the brunt. As the NSW developer bonus leads to older buildings being knocked down to make way for new, low-cost renters fear being priced out of their neighbourhood – The Guardian
• [Australia] Australia’s home prices surge by most in over two years in October – Reuters
• [Australia] RBA holds official interest rate at 3.6% while warning of rising house prices and rents. Reserve Bank’s decision to leave cash rate on hold was widely expected and major banks predict no interest rates cut until 2026 – The Guardian
• [Australia] More homes, better cities: Letting more people live where they want – Grattan Institute

On other countries:  

• [Canada] Canadian Snowbirds Are Ducking Out of the U.S. Housing Market Over Trump Tariffs—but These Sun-Soaked Spots Still Shine – Realtor.com
• [Canada] Toronto Home Sales Dip as Tariff Fears Keep Buyers Sidelined – Bloomberg
• [Korea] South Korea’s Housing Market Is a ‘Ticking Bomb,’ President Says – Bloomberg
• [Netherlands] As the Dutch Vote, One Issue Carries the Day: Affordable Housing. The small European nation of 18 million people is in the middle of its worst housing crunch in decades. But there is no quick political solution. – New York Times
• [United Kingdom] How new renters’ rights could drive landlords out of the market – The Conversation
• [United Kingdom] Britain’s housing chief is channeling Trump. Labour MPs are getting queasy. Steve Reed’s donning the red hat and bringing the energy — but is he risking Labour seats? – Politico
• [United Kingdom] What will Labour sacrifice for its housing targets? A standoff in south London is putting it to the test – The Guardian
• [United Kingdom] New homes: even if you build them, there’s no one to buy them. We’re often told housing demand exceeds supply — so why are new homes struggling to be built and bought? – FT
• [United Kingdom] UK net mortgage approvals hit 9-month high despite Budget tax fears. BoE figures show activity in housing market remains resilient – FT
• [United Kingdom] UK House Prices Increase Again in October, Nationwide Says – Bloomberg
• [United Kingdom] UK house prices rise in October, defying pre-budget nerves – Reuters
• [United Kingdom] Rachel Reeves plans Budget tax raid on expensive homes. UK chancellor predicted to plump for ‘least worst option’ of creating higher council tax bands in England – FT
• [United Kingdom] UK house price growth slows as buyers ‘sit on sidelines’ before budget. Amid talk of property taxes, average price of home rose by 0.3% in October to £272,226, Nationwide says – The Guardian
• [United Kingdom] ‘Out of reach’: stalled newbuilds leave Labour’s social housing targets in tatters. As some families face a 200-year wait for an affordable home, what exactly has gone wrong? – The Guardian
• [United Kingdom] Average house prices to increase by 22.2% over the next five years – Savills

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

On prices, rent, and mortgage:    

• Identifying Undervalued ZIPs – Home Economics
• Case-Shiller: National House Price Index Up 1.5% year-over-year in August. FHFA House Prices up 2.3% YoY in August – Calculated Risk
• US single-family home prices increase in August, FHFA says – Reuters
• Home Price Growth Slows – NAHB
• US single-family home prices increase in August, FHFA says – Reuters
• Inflation Adjusted House Prices 2.8% Below 2022 Peak. Price-to-rent index is 10.2% below 2022 peak – Calculated Risk
• Lower Interest Rates Fail to Offset Effects of High Home Prices – Harvard Joint Center for Housing Studies
• Home Prices Likely Cooled in August. That’s Good News for Some Buyers. – Barron’s
• Distribution of Mortgage Rates – Apollo
• NMHC on Apartments: Market conditions “Soften” in Q3. Leading indicator for Rents and Apartment Vacancies Negative in Q3 – Calculated Risk
• The market-defying appeal of assumable mortgages. Savvy buyers in the US are wising up to properties packaged up with a historic loan — and a surprisingly low interest rate – FT
• US Mortgage Rates Fall to 6.3%, Boosting Purchase Activity – Bloomberg

On sales, permits, starts, and supply:    

• Existing Home Sales Increase in September – NAHB
• NAR: Existing-Home Sales Increased to 4.06 million SAAR in September. Median House Prices Increased 2.1% Year-over-Year – Calculated Risk
• Will New York Voters Choose to Speed Up Housing Construction? – New York Times
• Homebuilders push new frontier for Fannie and Freddie: Construction loans. The policy has had industry interest for years, but recent Trump posts may add – Politico
• A Better Way to Fix Housing. Rather than end the 30-year mortgage, why not build more units? – Wall Street Journal
• Final Look at Housing Markets in September and a Look Ahead to October Sales – Calculated Risk
• D.R. Horton Says Wary Buyers Will Continue Demanding Incentives. The home builder’s fourth-quarter gross margin on home sales fell to 20% from 21.8%, which it attributed mostly to offering larger incentives – Wall Street Journal
• Fannie and Freddie: Single Family Delinquency Rate Increased in September. Multi-Family Delinquency Rate Highest Since Housing Bust (ex-pandemic) – Calculated Risk
• Pending Home Sales Flat Despite Lower Rates – Realtor.com
• Which Local Markets Track National Trends the Most: 2024 Single-Family MAI – NAHB
• California’s New Redistricting Maps Could Quietly Reshape Real Estate Markets – Realtor.com

On other developments:    

• The Fall 2025 Wall Street Journal/Realtor.com Housing Market Ranking – Realtor.com
• The Fed’s MBS Problem: How QE Helped Inflate Housing Markets – Cato
• The Debate Had a Lot of Housing Talk, but the Next Mayor Needs Bigger Ideas – New York Times
• Budget-Friendly Boston-Area Metro Remains the Top Affordable Housing Market in the U.S.  – Realtor.com 
• America’s Top Affordable Housing Market Revealed—5 Key Takeaways – Realtor.com
• ‘More Abundant, Diverse and Affordable’: Missing Middle Housing Proposed as Solution to Housing Crisis in Massachusetts – The Harvard Crimson
• September 2025 Luxury Housing Report: More for Your Money – Realtor.com
• Ranked: U.S. States With the Highest Homelessness Rates – Visual Capitalist
• Austin’s Housing Bust Is Just What America Needs – Bloomberg
• Stretched Thin: The Housing Cost Crisis – Boston Fed
• A Critique of the Urban Institute’s Panel Study on Land Use Reforms to Impact Housing Supply: Evidence of Severe Methodological Gaps – AEI
• The Great Housing Gridlock: Why It Could Spark The Next Market Shift – Seeking Alpha 
• The Hidden Cost of ‘Affordable Housing’. What happens when liberal cities try to circumvent the market – The Atlantic
• Buyers may soon lose their edge in Phoenix housing market – Axios
• How Federal Policy Locked Homeowners—and the Housing Market—in Place – Cato
• Zombie Foreclosure and Vacancy Rates Creep Down – ATTOM

On cross-country:

• EU finally takes ownership of housing crisis. The pressure is now on Brussels to adopt real measures — or risk pushing more voters into the arms of the far right. – Politico

Working papers and conferences:

• Is There a Puzzle in Underwater Mortgage Default? – Cleveland Fed
• Precision Without Labels Detecting Cross-Applicants in Mortgage Data Using Unsupervised Learning – Philadelphia Fed 
• The Social and Individual Effects of Homeless Shelter: Evidence from Temporary Shelter Provision – NBER

On Australia and New Zealand:

• [Australia] Australian house prices rising at fastest rate in nearly four years, data shows. Brisbane overtakes Canberra as second-most expensive house market, after Sydney, with median prices rising by nearly $40,000 – The Guardian

On other countries:  

• [Aruba] Aruba’s Residential Property Market Analysis 2025 – Global Property Guide
• [Bahamas] The Bahamas Residential Property Market Analysis 2025 – Global Property Guide
• [Canada] Housing Market Monitor – National Bank of Canada
• [Canada] Canada: Home prices continue their moderate growth in September – National Bank of Canada
• [Cayman Islands] Cayman’s Residential Property Market Analysis 2025 – Global Property Guide
• [United Kingdom] Prime Scotland House Prices – Q3 2025 – Savills
• [United Kingdom] Prime London house prices – Q3 2025 – Savills
• [United Kingdom] Housing market slows amid fears Reeves will increase property taxes. Post-summer bounce in activity fails to materialise as buyers and sellers, in the south especially, opt to ‘wait and see’ – The Guardian