The Unassuming Economist

On cross-country:

• New Taxes Helped Cool London’s Housing Market. Could That Happen in New York? Economists and real estate agents are calling London’s taxation of wealthy property owners a cautionary tale for New York, where leaders have endorsed a second-home tax. – New York Times

Working papers and conferences:

• The Regional and Demographic Profile of Housing Affordability: Evidence from Greek Households – CEPR
• Housing Wealth Accumulation and Electoral Representation – University of California – San Diego
• Market Power in Mortgage Pricing: the Role of Referral Lending – NBER
• Price and Prejudice: Preferences and Incentives in the Dynamics of Racial Residential Segregation – CEPR
• Upgrading housing – the potential and limits of borrower-based measures – SUERF
• Housing Supply and Racial Integration: Evidence from Building Permits in U.S. Metropolitan Areas – OSF
• The Impact of the Comprehensive Real Estate Holding Tax on Asset Equity and the Housing Market – Journal of Housing Economics  

On Australia and New Zealand:

• [Australia] Why Australian property prices could go backwards by 2030 – The Sydney Morning Herald

On other countries:  

• [Canada] Canada’s deflating housing bubble stymies wealth effect of booming stock market – Reuters
• [Mexico] Mexico City seeks new rent controls. Shortage of affordable homes and protests over US immigrants prompt policy response – FT
• [United Kingdom] The Guardian view on help to buy: entrenching housing inequalities, rather than helping. The Tories’ flagship scheme has aided higher earners most. The latest analysis of its flaws should lead to a rethink – The Guardian
• [United Kingdom] New Taxes Helped Cool London’s Housing Market. Could That Happen in New York? Economists and real estate agents are calling London’s taxation of wealthy property owners a cautionary tale for New York, where leaders have endorsed a second-home tax. – New York Times
• [United Kingdom] The problem with falling house prices. Homes are too expensive in the UK, but a large correction would be bad for everyone — including first-time buyers – FT

On prices, rent, and mortgage:    

• The Credit Bubble Everybody’s Ignoring. Federally backed student loans and mortgages are seeing increased defaults. Taxpayers are on the hook. – Wall Street Journal
• Reform the Federal Home Loan Banks to finance the housing America needs – Brookings
• The housing “bubble” in the late 2000s looks quaint by comparison now – Alec Stapp
• AEI National Home Price Appreciation (HPA) Index: March 2026 – AEI 
• Event: Vanishing Tax Credits and a Shrinking Market: Who Can Afford to Rent? – Chicago Fed
• Freddie Mac House Price Index Decreased in March; Up only 0.7% Year-over-year. Punta Gorda House Prices Down 21% from Recent Peak, Austin Down 18% – Calculated Risk

On sales, permits, starts, and supply:    

• Final Look at Local Housing Markets in March and a Look Ahead to April Sales – Calculated Risk
• When’s the Best Time to Buy a Home? It depends on whether you prioritize selection or price – Home Economics
• A Bill Aimed at Creating Homes Is Leaving Plots Empty Instead. The Senate housing bill would severely restrict build-to-rent homes. It is already causing projects to pause and financing to dry up. – Wall Street Journal
• Housing Starts Increased to 1.502 million Annual Rate in March – Calculated Risk
• Home Building Shows Signs of Stabilization with Monthly Gain in Starts – NAHB
• A strong month in a fragile market. March data shows momentum, but a build-to-rent crackdown and tighter capital markets threaten to stall future supply – Slow Boring
• Federal Threats on the Horizon Are Killing Housing Supply Growth Now – Cato  
• Why Texas Is Winning the Housing War. Rents are falling in Texas — and the reason is simpler than you think. Derek Thompson, a contributing writer at The Atlantic, tells the Opinion columnist Ezra Klein how Dallas and Austin have shown that the only real cure for a housing crisis is an aggressive, unrelenting surge in supply. – New York Times
• U.S. Housing Starts Rose in March. For February, housing starts fell – Wall Street Journal

On other developments:    

• A troubling plan to revive the frozen US property market. Buyers should beware the real estate dark pools – FT
• Bipartisan House coalition pressures leaders on housing bill. 76 House lawmakers warn investor limits in Senate housing bill could curb supply, squeeze renters and derail affordability push. – Politico
• Congress May Finally Recognize That Mobile Homes Aren’t Really That Mobile. An obscure federal rule requires manufactured homes to be built on a chassis, making them more costly. A bill in Congress would remove the mandate, enacted five decades ago. – New York Times
• Nearly 4 in 5 Americans Don’t Feel Their Financial Future Is Secure. Owning a Home Could Be the Fix – NBER
• Event: Housing Abundance, Where Jobs Sleep, and Good Neighbors Market Intelligence – AEI
• Government Benefits Reduce Housing Cost Burdens – Harvard Joint Center for Housing Studies
• Aging Homeowners Poised to Reshape Housing Market in Key Cities – Realtor.com
• Homeownership Rate Ticks Down in Early 2026 – Realtor.com
• This Isn’t Your Grandpa’s Housing Market. Are you mad your iPhone costs more than a flip-phone? Then you shouldn’t be so frustrated with home prices either. – Wall Street Journal
• How the War in Iran Is Hurting the U.S. Housing Market. Buyers across the country are cautious, while the Miami market seems immune. – New York Times

On cross-country:

• Are Houses Losing Ground Across Europe? – Visual Capitalist

Working papers and conferences:

• An Olympic opportunity for social housing policy: Lessons from the Athens 2004 Olympic Village – VoxEU
• The regional and demographic profile of housing affordability: Evidence from Greek households – CEPR

On Australia and New Zealand:

• [Australia] Australia’s Housing Crisis Set to Worsen on Iran War Fallout – Bloomberg

On other countries:  

• [Canada] Outlook for Canada Existing-Home Sales Deteriorates on War-Fueled Jump in Rates. The Canadian Real Estate Association says sales in March fell for a fifth straight month, while prices recorded their 14th straight month-over-month decline – Wall Street Journal
• [India] Mumbai’s Skyline Is Soaring. So Is the Pressure on Housing. As global businesses pour into India’s financial capital, millions of low-income residents face redevelopment deals that will determine whether they can stay. – Bloomberg
• [India] India’s Residential Property Market Analysis 2026 – Global Property Guide
• [Mauritius] Mauritius Residential Property Market Analysis 2026 – Global Property Guide
• [Spain] Spain’s Residential Property Market Analysis 2026 – Global Property Guide
• [Ukraine] Ukraine’s Residential Property Market Analysis 2026 – Global Property Guide
• [United Arab Emirates] Dubai Home Prices Post First Declines After Post-Pandemic Boom – Bloomberg
• [United Kingdom] Why tensions in the Middle East are keeping British mortgage rates high – LSE
• [United Kingdom] Property asking prices rise in April despite higher UK mortgage rates. Increase indicates resilience in housing market even as Iran war led to surge in energy costs – FT
• [United Kingdom] House prices in London’s wealthiest boroughs suffer double-digit decline. Westminster and Kensington and Chelsea property valuations sink close to 2013 levels – FT

On prices, rent, and mortgage:    

• Improving Affordability, Emerging Spring Demand May Boost House Price Growth Nationally, According to First American Data & Analytics Monthly Home Price Index Report – Fidelity
• Shrinking Rent Savings in DC Ease Path to Homeownership for Aspiring Buyers – Realtor.com

On sales, permits, starts, and supply:    

• Count of Second Homes Declines in 2024 – NAHB
• Event: State Policy Playbook: Expanding and Preserving Attainable Housing with Manufactured Homes on May 27 – Lincoln Institute
• Why Approved Housing Doesn’t Always Turn Into Finished Homes – Realtor.com
• Does Upzoning Work? This New Study Says Yes—Under the Right Conditions – Realtor.com
• Seasonality in American Housing. ‘Spring selling season’ is real—but only where there is a spring – Home Economics
• Late April Is the Best Time to List a Home For Sale. At that time they sell faster—and at a higher price – Home Economics
• Pending Home Sales Increased in March Despite Rising Mortgage Rates and Gas Prices – Realtor.com
• The Disappearance of the Moderately Priced Single-Family Home – Harvard Joint Center for Housing Studies
• In a Slow Market, Some Houses Are Still Selling Fast. Buyers are picky while prices and mortgage rates remain high, but homes in move-in condition can go quickly – Wall Street Journal
• NMHC on Apartments: Market Tightness “mostly unchanged” in April Survey
• Multifamily executives have lowered their expectations for total 2026 multifamily starts – Calculated Risk

On other developments:    

• Handbook on Affordability – Cato Institute
• With less immigration, urban growth slowed in 2025 – Peterson Institute
• The race- and place-based factors influencing homeowners insurance in the climate change era – Brookings
• The Challenges and Opportunities Facing Detroit’s Housing Market: A Look at the Data and Local Responses – Chicago Fed
• 3rd Look at Local Housing Markets in March – Calculated Risk  
• Spring Seller Survey: Optimism Meets Reality in the 2026 Housing Market – Realtor.com
• Trump wants $1.5tn for the Pentagon – and cuts to healthcare and housing – The Guardian
• Home Sales Profits Fell Below 45 Percent for the First Time in Five Years – ATTOM
• Why First-Time Buyer Age Isn’t Rising—Even as Housing Gets Less Affordable – AEI
• Housing policy keeps running into the same problems. Federal gridlock and local bottlenecks continue to slow down construction. Meanwhile, people are scrambling for housing. – Slow Boring  

On cross-country:

• Regional differences: where home buyers must save over 20 years for upfront costs – KIEL Institute
• YIMBY goes global? Unlocking Africa’s housing markets. Africa needs to house nearly a billion new urban residents by 2050. Who’s going to build it – and how will it be paid for? – Ideas in Development

Working papers and conferences:

• How does traffic, or the fear of it, affect housing affordability? – UCLA
• Labor Supply Effects of Monetary Policy: Evidence from Australian Mortgage Holders – IMF
• A Tale of Two Countries – The Real Estate Crises in 1990s Japan and Contemporary China – NBER 
• Visual Cues and Valuation: Evidence from the Housing Market – SSRN
• From Plot to Block: Participatory Land Use for Climate-Resilient Detached Housing in Finland – Sustainable Development
• Drilling Down: The Impact of Oil Price Shocks on Housing Prices – The Energy Journal
• Housing Affordability via Macroprudential Policy – Indiana University

On China:

• How long will China’s real estate crisis last? – Brookings

On Australia and New Zealand:

• [Australia] Canada slashed migration and housing costs dropped. There may be lessons for Australia. While rising vacancy rates caused a dip in rents and home prices, it hasn’t solved Canada’s chronically unaffordable property market – The Guardian
• [Australia] Economic stress scares off Australian homebuyers as auction clearances fall. Houses are being pulled from auctions as vendors get cold feet amid economic uncertainty about borrowing costs – The Guardian

On other countries:  

• [Canada] Ford government spent billions on housing initiatives yet homebuilding has declined – Fraser Institute
• [Canada] Ontario housing will remain unaffordable without real reforms – Fraser Institute
• [Spain] What does the growing dispersion of prices tell us about the housing market? – CaixaBank
• [Spain] The shortage of new homes continues to strain Spain’s housing market – CaixaBank
• [United Arab Emirates] UAE Residential Property Price Report 2026 March – REIDIN
• [United Kingdom] ‘We’re trapped’: despair for sellers as Iran war knocks confidence in UK housing market. Estate agents say rising mortgage costs have created a mood of fear, with Canterbury among the cities being hit – The Guardian
• [United Kingdom] Higher-income households benefited most from Help to Buy, thinktank finds. Analysis by IFS shows George Osborne’s mortgage schemes launched in 2013 had little effect on social mobility – The Guardian