An expert says that affordable rental housing and increased funding for homelessness services are necessary to solve Australia’s rental crisis as the country’s rental market continues to face unprecedented pressure. Professor Nicole Gurran, University of Sydney chair of urbanism and housing expert, on Jan. 17 said housing is an issue that needs to be tackled by all…
Affordable Rental Housing Needed to Solve Australia’s Rental Crisis, Expert Says
Foreign Investors Banned From Buying Canadian Homes Starting Jan. 1
As of Jan. 1, 2023, foreign investors will be banned by the Canadian government from purchasing non-recreational residential property. The federal government announced the full details Wednesday for new regulations that have been finalized as part of the Prohibition on the Purchase of Residential Property by Non-Canadians Act, which was passed on June 23 and…
More Than 40 Percent of Americans Expect the Housing Market to Crash Next Year: Survey
December 7, 2022
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A lot of consumers have a very gloomy outlook about the market due to news of mass layoffs, high inflation, and rising credit card debt, according to a new survey that shows 41 percent of Americans believe the housing market will crash next year. The survey was conducted on more than 2,000 American consumers by…
The Incredible Shrinking American Wallet
Americans are under increasing financial pressure, and the stress is beginning to show across multiple fronts. For well over a year now, inflation has ravaged Americans’ wallets. Despite October’s slightly lower Consumer Price Index (CPI) rate of 7.7 percent versus 8.2 percent in September, “base effects”—i.e., the fact that inflation was already raging at 6.2…
House Prices Fell in September in All 20 US Cities Tracked by S&P Global
November 29, 2022
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Home prices in 20 major cities across the United States fell in September, according to data from S&P Dow Jones Indices, indicating a deceleration in the housing market. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index fell by 1 percent on a monthly basis in September (before seasonal adjustment), with the 10-City composite…
US Housing Markets Are in Turmoil
No sector of the U.S. economy affects middle- and working-class Americans more than housing. Most Americans have the majority of their savings and net worth tied up in their homes. Housing is the primary asset that serves as a literal and metaphorical shelter in the storm, a store of value for the future, and as…
Homeowners Should Brace for Property Price Drop: Data, Experts
Real estate prices have declined over the past several months, but there could be much more to come, data and some experts indicate. The median home price has dropped by about 7 percent since its peak in June. It is still up by about 6 percent since October last year and more than 35 percent…
Death of the American Dream and Home Ownership?
Homes historically have served as the primary store of value and wealth creation for most Americans. Housing represented one asset class that was available to both working and middle-class Americans, facilitated in part through government-sponsored entities (GSEs) such as Fannie Mae and Freddie Mac, formed following the Great Depression, that aggregated lender risk, created market…
Consumer Confidence in US Housing Market Plunges to Record Low, Says Fannie Mae
November 7, 2022
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Consumer confidence in the American housing market plunged to record low last month, according to a new survey. Growing mortgage rates, higher home prices, and economic instability have led to increased pessimism in the housing market nationwide. Only 16 percent of consumers surveyed said that they would consider buying a home in October, according to…
Americans Abandon Housing Hopes Amid Crushing Costs
The U.S. real estate market has begun to cool after two years of torrid growth, but soaring mortgage rates, punishing rents, and a shortage of available homes continue to thwart Americans on the hunt for affordable housing. The latest bad news for would-be homebuyers came on Wednesday, when the Federal Reserve approved another major hike…
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