The Unassuming Economist

Links to the week’s top housing market stories.

Cross Country

• Steady Rise In House Prices Points To Growth In Confidence – Forbes
• The UK’s Broken Housing Market – Policy Exchange
• Slash stamp duty for pensioners to boost housing market, Reeves urged – The Telegraph
• Rising House Sale Prices in Greece Outpace Most of Europe, Eurostat Reports – Greek City Times
• China new home prices fall at fastest pace in 9 years, more support needed – Reuters
• China June new house prices -4.5% y/y (prior -3.9%) – Forexlive

US

• The Best Plan for Housing Is to Plan Less – New York Times
• Part 2: Current State of the Housing Market; Overview for mid-July 2024 – CalculatedRisk
• 3rd Look at Local Housing Markets in June – CalculatedRisk
• Gentrification as a housing problem – Works in Progress
• Are YIMBYs Wrong about the Housing Crisis? – Aziz Sunderji
• Household Wealth Gains Are a Tailwind to Consumer Spending – Apollo.com
• Secret #66 – The Housing Wealth Effect is a Double-Edged, Lopsided Sword – John Wake
• Housing Finance Watch (Weeks 27 & 28, 2024) – American Enterprise Institute
• REMODELING SPENDING TO TICK UP THROUGH MID-YEAR 2025 – Harvard JCHS
• Here’s why international buyers are pulling way back from the U.S. housing market – CNBC
• US housing market is turning more buyer-friendly – Yahoo Finance

A list of papers that study the economic effects of rent control

1. Housing market spillovers: Evidence from the end of rent control in Cambridge, Massachusetts – Autor, Palmer, and Pathak (2014)
2. The effects of rent control expansion on tenants, landlords, and inequality: Evidence from San Francisco – Diamond, McQuade, and Qian (2018)
3. Robbing Peter to pay Paul? The redistribution of wealth caused by rent control – Ahern and Giacoletti (2022)
4. Rent control effects through the lens of empirical research: An almost complete review of the literature – Kholodilin (2024)

Links to the week’s top housing market stories.

Cross Country

• Canada’s Housing Market Starts to Strengthen After Rate Cut – Bloomberg
• Canada real estate: Home prices continue to rise despite slumping sales, says Royal LePage – Yahoo Finance
• Are We in a Housing Bubble in 2024? – Norada Real Estate Investments
• The Most Splendid Housing Bubbles in Europe: Biggest Price Drops in Germany, Finland, Sweden, Austria, France, Denmark – Wolf Street
• Vietnam’s Residential Property Market Analysis 2024 – Global Property Guide

US

• Better news on housing construction plus a methodological improvement pushes up the forecast – The Nowcast (and other thoughts on the economy)
• A Discussion of the Housing Market with Lance Lambert (ResiClub) – CalculatedRisk Newsletter
• Home Insurance Rates in America Are Wildly Distorted. Here’s Why – New York Times
• NAHB Urges Congress to Address Housing Affordability Crisis – NAHB
• Rate cuts won’t fix housing affordability, economist says – Yahoo Finance
• Florida is bucking the national housing trend, real estate firm says – Fox Business
• America’s most livable small cities revealed, with locals loving their reasonable housing costs, plentiful jobs and great amenities – Daily Mail
• Could policies solve US housing affordability crisis? – MPA Mag

Links to the week’s top housing market stories.

Cross Country

• Investment in UK student housing climbs 245 per cent to record high – Yahoo Finance
• Germany’s Urban Housing Recession Is Coming to an End – Bloomberg
• House prices and rents rose between Q4 2023 and Q1 2024 – Eurostat
• Hong Kong’s talent pass program drives up housing rents – Nikkei Asia
• China’s property bust won’t be fixed without the intervention of the state – East Asia Forum

US

• The Geography of Housing Affordability – Aziz Sunderji
• Six Lessons from Six Months of Thesis-Driven Courses – Paul Stanton and Brad Hargreaves
• When will the housing market crash again? – Yahoo Finance
• These Fast-Growing Florida And Texas Cities Have 2024’s Slowest Housing Markets—Here’s Why – Forbes
• Housing Market Predictions For 2024: When Will Home Prices Be Affordable Again? – Forbes
• Current mortgage rates as of July 4, 2024 – Fortune
• Want to buy or sell a home? How to get a 3% mortgage rate, negotiate fees, and more – USA Today
• Real Estate Experts Say These Will Be the Best US Cities To Buy Property in the Next 5 Years – Yahoo Finance
• Housing Market Entering ‘Crash Stage’ in Multiple Cities – Newsweek
• These 15 housing markets have the highest correction risks – Fox News

Links to the week’s top housing market stories.

On Cross-Country

• Why house prices are surging once again – The Economist.
• Ottawa housing market ranked as ‘severely unaffordable’ in global survey – CTV News

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

• House Prices In Pandemic-Era Boom Towns Are Going Bust As Prices Fall – Yahoo Finance
• You Might Be Buying Your House at the Top of the Market – WSJ
• FHFA House Price Index Up 0.2 Percent in April; Up 6.3 Percent from Last Year – FHFA
• Texas House Prices Fall in Multiple Cities – Newsweek
• California House Prices Plunge Up to $400k as Insurance Crisis Deepens – Newsweek
• US consumer confidence retreats slightly; house prices remain elevated – Yahoo Finance
• Mortgage rates fall slightly to 6.86% – FoxBusiness
• Mortgage rates just dropped to a 2-month low. Here’s why you may want to buy now – CBS News
• Here’s where U.S. rents are rising — and falling — the fastest – CNBC
• Strain of rent on wages in WA is among highest in U.S., report finds – Washington State Standard
• Rents Surged in These U.S. Cities in June – Mansion Global
• MONTHLY NEW RESIDENTIAL CONSTRUCTION, MAY 2024 – US Census

On China:

• China’s big housing correction is not over – FT
• China’s Housing Market Crash Intensifies – Newsweek
• China’s Housing Market Woes Deepen Despite Stimulus – WSJ
• China Home-Price Slump Accelerates Despite More Stimulus – Bloomberg
• China new home prices fall at fastest clip in nearly 10 years – Reuters