The New South Wales (NSW) Housing Minister Rose Jackson has become the first Labor state minister to swat down the left-wing Greens’ campaign for Australia to adopt rent controls to deal with its housing crisis. On June 27, federal Greens housing spokesperson, Max Chandler-Mather, reiterated his party’s position citing San Francisco as an example Australian…
No to San Francisco: Greens Plan Knocked Back as Labor Minister Rejects Rent Controls
June 29, 2023
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Governor Abbott Calls Second Special Session Over Property Tax Reductions
June 28, 2023
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Gov. Greg AbbottPolicies & ImpactsPoliticsproperty taxesreal estateRegional & State NewsRepublicansState NewsTexasTexas special sessionUSUS NewsUS Real Estate
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Texas Gov. Greg Abbott ordered lawmakers back to work for a second special session after they failed to pass legislation to reduce property taxes. “I called another special session to deliver on our promise to provide the largest property tax cut in Texas history. Hardworking Texans deserve lasting property tax cuts. When the House [and]…
Beijing and Shanghai Record Largest Decline in Second-Hand Home Prices
China released its May national housing price data on June 15. Beijing and Shanghai had the largest fall in second-hand home prices among 70 large and medium-sized cities. The price of second-hand homes in Shanghai fell by 0.8 percent compared with the previous month, the largest drop among cities surveyed, and Beijing fell by 0.6…
What Could Be in Store for Canadian Home Prices
June 28, 2023
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Canada’s housing market has good reason to be rising despite 4.5 percentage points of Bank of Canada interest rate hikes since March last year. But policy-makers are taking steps to contain risks stemming from the housing market and analysts expect prices to start dropping. “I’m pretty sure the Bank of Canada is not happy seeing…
Number of US Homes For Sale Plunges to Lowest Level Since 2012
June 24, 2023
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Since real estate brokerage Redfin started taking records, fewer homes were available for sale in the United States in May 2023 than in any other month. The number of homes for sale declined by 7.1 percent year-over-year in May 2023 on a seasonally adjusted basis to 1.4 million units, according to a June 21 Redfin…
Survey Finds 78 Percent of US Home Shoppers Fear Being Priced out of Market
A recent survey from Realtor.com and Censuswide finds 78 percent of potential home buyers expect to be priced out of the market if prices and mortgage interest rates continue to increase. Over 50 percent of that group blames inflation as the number one external factor keeping them from realizing the American dream. Rising interest rates…
Left vs. Left: Labor PM Says Greens Stonewalling Housing Fund for Political Gain
June 22, 2023
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Prime Minister Anthony Albanese has lambasted the Australian Greens for taking a hardline stance on the Housing Affordability Future Fund (HAFF), which could result in a potential double dissolution showdown. “For the Greens political party, this isn’t about the Australian people. This is about them. They want the issue, not the outcome. They deal in…
Housing Starts See Biggest Monthly Gain Since 1990, but Trend Unsustainable
June 21, 2023
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New U.S. housing starts registered the biggest monthly increase in more than 30 years in May, but some experts raised doubts about whether the trend is sustainable. “Privately owned housing starts in May were at a seasonally adjusted annual rate of 1,631,000. This is 21.7 percent above the revised April estimate of 1,340,000,” according to…
Can a Homebuyer Who Waived a Home Inspection Sue?
Dear Monty: We lived in our first home for about three years and sold it almost two years ago. We had three offers. The highest offer was at our list price, and they waived the inspection. The other two bids were lower but required an inspection, so we accepted the highest price. We had a…
US Homes for Sale Fall Nearly 40 Percent Amid Tight Market Conditions
June 16, 2023
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The number of homes for sale has declined from pre-COVID-19 pandemic levels, with high mortgage rates discouraging prospective sellers from putting their properties on the market, said real estate brokerage Redfin. There are now 39 percent fewer homes for sale on the market compared to five years ago in June 2018, according to a June…
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