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The Latest Breaking News from Housing Market

Building firms go to the wall as housing market falls away

Construction firm debt defaults are up 16 percent, liquidations are up 72 percent, and those still working say it's getting tougher by the week. Jonathan Milne reports.

Newsroom.co.nz

Is the housing market about to crash? Here’s what experts say

After a record-breaking run that saw mortgage rates plunge to all-time lows and home prices soar to new highs, the U.S. housing market finally started slowing in late 2022. Mortgage companies engaged in mass layoffs, real estate economists lamented a “housing recession” and home prices seemed poised for a correction.

Tribune News Service

Incentives give builders a 2023 housing market advantage—here's how much they are forking out on the deals

“The total incentive as a percentage of sales price on average is about 4% nationally, and that’s elevated.”

Fortune

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What's next for the housing market, as told by Fannie Mae's latest forecast

"Housing prices continue to show stronger growth than what was previously expected," says Fannie Mae chief economist Doug Duncan.

Fortune

Conor Sen: Squeezed homebuyers are just what the economy needed

The housing market is full of surprises. Sentiment among homebuilders has been perking up, their stocks are surging, and new home sales are at the strongest since early 2022. All in the face of persistently high mortgage rates.

Tribune News Service

The CEO of Fortune 500 homebuilder D.R. Horton reveals how he cornered the housing market amid a historic affordability squeeze

CEO David Auld moved up four slots on the Fortune 500 despite a mortgage rate shock. His secret? "increased incentives...and adjusted base pricing"

Fortune

Average house price falls 3.5% as mortgage rates keep climbing

The sharp increase in borrowing costs is likely to exert a significant drag on near term housing market activity, Nationwide Building Society said.

The Independent UK

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Airbnb revenue 'down by 50 per cent' sparking huge housing market crash fears

One real estate expert has revealed that Airbnb's unfolding profit crisis is likely to cause a housing crash "on par with the 2008 subprime crisis" in some cities

Daily Mirror

New home sales surged in May

Another sign the housing market is bouncing back

Axios

Jerome Powell promised a housing market 'reset'. Is it actually happening?

On Tuesday, U.S. house prices as tracked by Case-Shiller went negative on a year-over-year basis for the first time since 2012. However, it comes as month-over-month prices are rising again.

Fortune

No bed or bath: New Zealand boat shed sells for record $2m despite housing market crash

Record sale of property that by law cannot be slept in overnight comes amid wider property market slide

The Guardian - AU

Real estate agents are feeling the pain: Housing market golden handcuffs are very real

All those 2% and 3% mortgage rates—a policy outcome of the COVID-19 recession—are now acting as golden handcuffs.

Fortune

Buying a home in the US is expensive – and that isn’t changing anytime soon

Even if there are fewer home buyers and prices have been falling slightly, they’re still much higher than pre-pandemic and for many, more unaffordable than ever

The Guardian - US

Average long-term US mortgage rate falls to 6.67%, third straight drop since climbing to 2023 high

The average long-term U.S. mortgage rate fell for the third time in as many weeks, a welcome boost for homebuyers facing a housing market that’s been held back this year by a tight inventory of homes for sale

The Independent UK

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Fortune

The housing market recession is 'over’ in the new home space, top economist Ali Wolf says, but she's hesitant on what comes next

"Home sales are rising, starts are rising, and home prices are rising again," Wolf tells Fortune. "The big question is – is that it?"

The Independent UK

What does the Bank of England rate hike mean for the housing market?

The Bank has pushed the base rate up to 5%, the highest it has been in nearly 15 years.

Fortune

Even hard hit Western housing markets are stabilizing—just look at KB Home's latest cancellation rate

KB Home CEO Jeffrey Mezger: "The improvement in demand we started to see in February was sustained throughout our second quarter"

Evening Standard

Buying in London: Phil Spencer’s top tips for first-time buyers navigating the housing market now

With mortgage rates soaring and London rents at a record high, is now the right time to be entering the property market?

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The Conversation

NZ’s housing market drives inequality – why not just tax houses like any other income?

The Green Party made waves recently when it proposed to tax net wealth over NZ$2 million for individuals and $4 million for couples. As part of a broad range of actions, the policy aims to “end poverty”.

The Orange County Register

Looking for a housing price crash? That’s unlikely, real estate economists say

The nation‘s housing market is going through a correction, not a crash.

Birmingham Post

Bristol's mayor says city's tenants face 'Wild West' rental market

Marvin Rees believes there is a need for rent controls in the housing market

The Independent UK

Bristol tenants facing ‘Wild West’ rental market, says mayor

Marvin Rees said there is a need for rent controls in the housing market as private tenants face some of the highest prices outside London.

The Guardian - UK

Average two-year fixed rate mortgage deal hits 6% for first time this year, as Sunak rules out extra help – business live

Average mortgage rates hit highest level since December, as asking prices for British homes fall in June for the first time in six years

Tribune News Service

Bankrate: What the Fed’s June rate pause means for homebuyers and sellers

The Federal Reserve is taking a break from its war on inflation. After raising rates 10 times in 10 meetings in 2022 and 2023, the central bank made no change during its latest meeting. Fed Chairman Jerome Powell announced no further increase in the federal funds rate on June 14…

Fortune

Fed Chair Powell: The U.S. housing market is 'putting in a bottom'

"We now see housing putting in a bottom, and maybe moving up a bit. We're watching that situation carefully," Powell said on Wednesday.

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