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The Latest Breaking News from Housing Market

The housing market is so unaffordable that buyers need to make nearly $115K to afford the average home, Redfin says—that’s $40k more than average earnings

Maybe you didn’t know how bad the affordability situation has gotten in the housing market. (It's really bad.)

Fortune

Fannie Mae's CEO says shopping for a house right now is downright Dickensian: A 'tale of 2 markets'

The “lock-in” effect is making the housing market unappealing for both buyers and sellers.

Fortune

The housing market is about to have its slowest year since the real estate bubble burst in 2008, according to National Association of Realtors

Mortgage rate lock-in effect is making homeowners hold on for longer: “You can’t buy what’s not for sale,” one pro says.

Fortune

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Back-channels shift sands on which National’s property and tax package is built

The luxury housing market is gearing up for National to lift the foreign buyer ban for properties over $2 million, but Christopher Luxon faces staunch opposition from NZ First. Jonathan Milne reports.

Newsroom.co.nz

Mortgage affordability ‘hitting housing market but 12-month outlook more stable’

Buyer demand, sales and house prices continue to decline as mortgage affordability continues to affect the market, surveyors said.

The Independent UK

Goldman is back with a 16-years-later look at the housing market crash of 2008—and finds affordability is even worse right now

Goldman Sachs economist says it would take a ‘shock to the broader economy’ to make homebuying more affordable.

Fortune

Most millennials and Gen Zers feel they have it a lot harder than their parents did in today's economy

Recessions, inflation, an overpriced housing market, and student debt have all made the American Dream feel out of reach for younger generations.

Fortune

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The U.S. housing market has gotten so expensive that income would have to jump 55% to make buying 'affordable,' real estate executive says

Personal incomes would have to soar to make up for the higher home payments created by rising mortgage rates.

Fortune

Buckle up for more ‘turbulence’ in the housing market, BofA says—it’s a housing recession, 1980s-style

“Looking back at previous housing recessions, we think the 1980s are a better analogy for today's market than the 2008 housing crash,” BofA economists said.

Fortune

Bond yields rise after US jobs report smashes forecasts – as it happened

Rolling coverage of the latest economic and financial news, as US non-farm payroll shows surge in hiring last month

The Guardian - UK

US mortgage rates hit highest level since 2000

US mortgage rates last week topped 7.5% for the first since November 2000 and applications for home purchases tumbled to a multi-decade low, illustrating a battered housing market.

The Times of India

Cryptocurrencies Slide As Housing Concerns Mount

Higher interest rates and potential recession fears drive major crypto market decline

Zenger

Prime London housing market more robust than mainstream equivalents – Savills

Some prime London housing markets are benefitting from affluent buyers’ ability to buy with cash or low loan-to-value ratios, Savills said.

The Independent UK

3 Homebuilder Stocks Priced Under $50 to Buy Today

Despite turbulent market conditions and escalating interest rates, the long-term outlook for the housing market remains bright. Hence, it could be wise to scoop up the homebuilder stocks Five Point Holdings (FPH), Taylor Morrison Home Corporation (TMHC), and Sekisui House (SKHSY), trading under $50. Read more….

StockNews.com

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The Guardian - UK

UK house prices drop 5.3% with falls in every region, says Nationwide

High interest rates blamed for year-on-year fall with price of average home £14,500 lower than September 2022.

The Guardian - UK

Sharon White stepping down from John Lewis; UK house prices fall at fastest rate since 2009 – as it happened

John Lewis chair Sharon White will not seek second term at retailer, as Nationwide reports UK house prices fell 5.3% in year to September

The Guardian - UK

New York is breaking free of Airbnb’s clutches. This is how the rest of the world can follow suit

The company is calling it a ‘de facto’ ban – and it could reshape the housing market in residents’ favour, says author Anna Minton

Fortune

How many ‘vacant homes’ does China have right now? A former statistics bureau official has an eye-opening prediction

China’s housing oversupply is far worse than previously reported, the country’s former statistics bureau deputy head says.

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news in one place.

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StockNews.com

Why Does Jay Soloff Love This Income Stock?

This company is in the sweet spot when it comes to higher mortgage rates. Its required insurance product is in increasing demand as home prices outstrip the ability of most buyers to pay 20% down. Enact (ACT) should be on your radar as a housing market play that can win…

Fortune

With fewer sellers on the housing market, more scammers are impersonating them

From Las Vegas, Nevada to Fairfield, Connecticut, seller impersonation fraud is beginning to make headlines across the country.

Fortune

Housing market affordability is so strained that this Fortune 500 homebuilder is offering a fixed 4.25% mortgage rate in some communities

Lennar, a homebuilder ranked No. 119 on the Fortune 500, is presently promoting a "fixed [mortgage] rate of 4.25%" in Colorado.

Barchart

Dollar Slips on Decline in T-note Yield

The dollar index (DXY00 ) on Monday fell slightly by -0.11%. The dollar Monday was undercut by a -3 bp decline in the 10-year T-note yield, which undercut the dollar’s interest rate differentials. The dollar was also undercut by Monday’s weak U.S. homebuilder report. The NAHB U.S. housing market index...

WEKU

How Lehman's collapse 15 years ago changed the U.S. mortgage industry

The global financial crisis of 2008 ushered in a new era of consumer protection, but the future of the housing market is uncertain.

Fortune

The housing affordability crisis is a hidden reason your kid doesn’t have a teacher—stunning report shows only 12% can afford homes near work

Redfin crunched data on 70,000 schools in the 50 biggest metros and found the housing market zooming up and away from the stagnant teacher’s salary.

Evening Standard

Rise of ‘ghost listings’: five secret-sale London homes listed on property portals

As the housing market becomes even trickier to navigate, increasing numbers of ‘ghost listings’ are popping up on portals with almost no information whatsoever

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