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Even though homes aren’t tradable, like soybeans or car parts, home prices across the world have become increasingly synchronized. This reflects a variety of factors, according to the [International Monetary Fund], including the increasing tendency for economic growth and interest rates to move in parallel across nations. — The Wall Street Journal
An interesting report from Sarah Chaney of The Wall Street Journal illuminates some of the ways in which housing markets across the globe—which are currently showing signs of a slowdown—are increasingly falling into line with one another as the power of the global economy... View full entry
Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, caused a stunning drop in foreign demand for American homes.
The dollar volume of homes purchased by foreign buyers from April 2018 through March 2019 dropped 36% from the previous year, according to the National Association of Realtors.
— CNBC
NAR’s Profile of International Transactions in U.S. Residential Real Estate 2019 survey reports that "for the seventh consecutive year, China exceeded all other countries in terms of dollar volume of purchases, buying an estimated $13.4 billion worth of residential property, a 56% decline from... View full entry
How will China's $36.1 billion dollar investment shape the future of Africa? While China only has 66 projects over the continent compared to the United States' 91 projects, it has pledged about ten times the total amount of money, and the lion's share of that cash is earmarked for Egypt. As Global... View full entry
There is a city which is suffering a worse property bubble than Sydney, whose residents are more priced-out than Londoners, and where there is a greater divide between the housing haves and have-nots than even San Francisco.
That city is Vancouver, and in response to these mounting challenges, the west-coast Canadian metropolis recently imposed an extraordinary new tax on foreign buyers – whose impact is now being watched closely by other cities grappling with bloated property markets.
— theguardian.com
Related stories in the Archinect news:Mayor of London launches probe into the impact of foreign investment in city's real estateAnother case of "poor door" for proposed Vancouver high-riseCan Vancouver break out of its 'boring-architecture' mold with these new ambitious skyscraper View full entry
