Housing affordability debates often blame regulations, but research says constraints miss key differences. Study instead tracks demand via avg. income growth and population growth across metros. From 2000–2020, demand indicators better explained varied prices and housing dynamics. Avg. income growth strongly links to house price growth; prices generally track...
Mortgage purchase applications have dropped 35% since 2019, with the housing market frozen amid rising mortgage rates, now averaging 6.43% for 30-year fixed loans. Home resales have fallen 23% annually since 2019, while housing supply has surged to multi-year highs. Refinancing applications spike briefly when rates dip but remain low overall due to upfront costs and breakeven considerations, indicating...
Experts are exploring zoning reforms to allow for more housing options, including accessory dwelling units (ADUs) like in-law cottages.This could allow developers to build more homes on less land, potentially increasing housing supply....
The Australian government aims to build 1.2 million homes over five years to address the housing shortage. However, there are common misconceptions about housing supply that need to be addressed. These include the belief that housing demand is solely driven by population growth, the misconception that foreign investors are buying up existing properties, the idea that there are a significant number of...
US home prices increased by 0.4% in October compared to November and were up 7% compared to October 2022. This marks the seventh consecutive month of price increases. The lack of housing supply is seen as a bigger constraint on the market than affordability. Luxury-tier prices saw unexpected surges in price appreciation, indicating strong demand from buyers looking to trade up. Pennsylvania, Florida,...
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