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BIZARRE: 34 - You Need To See This

Opendoor CEO on housing market instability

Opendoor is one of 52 women-led Fortune 500 companies.

Fortune

Mapped: House prices fall at fastest annual rate in 12 years as mortgage rates soar

Annual drop of 2.6% in June is largest year-on-year decrease since June 2011, Halifax said

The Independent UK

Bank of England warned 7 per cent interest rates would send shock wave through housing market

A leading economist says there is ‘no need to panic’ as Britain is ‘not in an 07-08 scenario’

The Independent UK

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3 Homebuilder Stocks Investors Are Buying in July

Despite the rising interest rates and prevailing market uncertainties, the housing market’s long-term prospects remain favorable. Hence, it could be wise to scoop up the shares of homebuilder stocks PulteGroup, Inc. (PHM), Sekisui House, Ltd. (SKHSY), and Tri Pointe Homes (TPH) that seem to be drawing investors’ attention this month.…

StockNews.com

‘Stubborn inflation’ hits central London’s luxury home sector

Prices of high end homes in prime central London fell in the second quarter, down 5.9% from a year earlier, as the uncertain economic outlook weighs on the housing market.

Evening Standard

The UK’s housing market is hurting everyone. Time to rethink the whole thing

There appears to be no relief in sight for homeowners or renters – but there are things that can be done, says Josh Ryan-Collins, an associate professor at UCL

The Guardian - UK

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

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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

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

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

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Axios

New home sales surged in May

Another sign the housing market is bouncing back

Fortune

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.

The Guardian - AU

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

Fortune

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.

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The Guardian - US

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 Independent UK

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

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?

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”.

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