"600 or 700 [thousand dollar mortgage limits for an income of $100,000], somewhere there seems to be the indication, and I think it marks a pretty big shift. This will limit house price growth in future, and really limits how many properties people can own, because you can't shift your income massively overnight."

#KelvinDavidson, Chief Property Economist, #Corelogic

https://www.rnz.co.nz/national/programmes/morningreport/audio/2018884737/house-prices-dropping-but-still-30pct-higher-than-pre-pandemic

#mortgages #housing #HousingPrices

Bank economist inadvertently admits that neoclassical economic theory has little to do with reality:

"Good to see the economic theory playing out in reality, for once."

#KelvinDavidson, Chief Property Economist, #Corelogic

https://www.rnz.co.nz/national/programmes/morningreport/audio/2018884737/house-prices-dropping-but-still-30pct-higher-than-pre-pandemic

#economics #EconomicTheory #NeoClassical #banking

#CoreLogic has released its Monthly Chart Pack, which notes that dwelling values nationally were down 7.9% over the 12 months to February, “Australia's largest annual decline on record”: #property #ausproperty

https://www.macrobusiness.com.au/2023/03/australia-records-largest-ever-annual-house-price-decline/

"Single-family rental price increases dropped to 7.5% year over year in November, with all four tracked price tiers posting lower gains than a year earlier. November marked the seventh consecutive month of annual deceleration."

https://www.corelogic.com/intelligence/corelogic-us-annual-rent-growth-drops-for-the-seventh-straight-month-in-november/

#RealEstate #SFR #SingleFamilyRentals #CoreLogic
@realestate@a.gup.pe @realestate@chirp.social

This time really is different for Aussie house prices.
Australian dwelling values have just recorded their largest and fastest fall on record, according to #CoreLogic.
#property #housing #propertycrash #crash

https://amp.macrobusiness.com.au/?url=https://www.macrobusiness.com.au/2023/01/this-time-really-is-different-for-aussie-house-prices/