The premium to buy a home vs. rent one has soared to 52%, the highest level ever recorded
Even in 2008, the premium to own peaked at 33%. Source: barchart
As mortgage rates hit 8% for the first time in 23 years, affordability continues to fall off a cliff
The Housing Affordability Index just hit a fresh record low, at ~90. This means that housing affordability is officially down 50% since 2021. Since then peak in 2012, housing affordability is down nearly 70%. Buying a home has become a luxury. Source: The Kobeissi Letter, www.zerohedge.com
Amazing chart about Canada housing market (on the right) vs. US housing market (on the left).
Source: Michel A.Arouet
JUST IN: The Value of US Distressed commercial real-eestate is approaching $80 billion, the highest level in a decade Now less than HALF the 2008 financial crisis levels
Blackstone, Brookfield and Goldman Sachs have defaulted or relinquished offices to lenders this year. Today, Pimco walked away from 20 hotels with +$240MM in debt. Over $1.5 trillion of commercial real estate loans will mature over the next 3 years. Source: Bloomberg, Genevieve Roch-Decter, CFA, Barchart
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🚨🚨Latest news on real estate market
US Commercial real estate sales volume have fallen to the lowest level in 13 years
Source: Green Street
US Housing | The National Association of Realtors’ index of contract signings tumbled 7.1% to 71.8 from July, the group reported Thursday
The decline was larger than all estimates in a Bloomberg survey of economists. *US AUG. PENDING HOME SALES FALL 7.1% M/M; EST. DOWN 1% *US AUG. PENDING HOME SALES FALL 18.8% FROM PREVIOUS YEAR Source: Bloomberg
Housing | According to Bankrate.com‘s data, US 30-Year fixed-rate mortgage reached 7.78%, the highest rate since August 2000
*This situation is expected to have a significant effect on closed sales from September to November. Source: C.Barraud
