Global Housing

By Leith van Onselen Interest.co.nz has today posted an interesting article quoting Westpac Bank economists on the Auckland housing market, where the stratified median house prices hit a record $634,000 in June (see next chart).

By Leith van Onselen The Economist over the weekend published a great primer on the benefits of broad-based land taxes: Taxing land and property is one of the most efficient and least distorting ways for governments to raise money.

By Leith van Onselen Earlier this year, Trulia published an interesting article on how thousands of Californians are emigrating to other states due to exorbitant housing costs, with many choosing to settle in Texas: A constant debate in California politics is whether jobs and people are leaving the state… Here are the basic facts.

By Leith van Onselen The Case-Shiller 20-city house price index for April 2013 was released over night, which revealed an ongoing recovery in US house prices, with prices lifting by a seasonally-adjusted 1.6% over the month, 4.9% over the quarter, and 12.0% over the year.

By Leith van Onselen The UK housing debacle has taken another turn, with a report commissioned by the homeless charity, Shelter, claiming that it now takes a single person 14-years on average to save for a typical UK home, or 30-years in London.

By Leith van Onselen The Bank of New Zealand’s chief economist, Tony Alexander, has today provided a radical eight-point plan to restore housing affordability.

Cross-posted from Coppola Comment House prices in the UK are too high.

By Leith van Onselen Regular readers will recognise that I am highly sceptical of the UK housing system, which I believe operates world’s worst practice when it comes to social and economic outcomes.

When it comes to analysing the US housing market, few people have a better track record than Peter Schiff, CEO and chief global strategist at Euro Pacific Capital Inc.

By Leith van Onselen The Canadian housing market, ranked by The Economist as one of the world’s most overvalued, looks to have finally hit the wall. After peaking in August last year, house prices have begun to fall, down -1.2% nationally (see next chart).

By Leith van Onselen Earlier this month, I posted an article arguing strongly that Australia’s state and territory governments should look to replace stamp duties on property transfers with a broad-based land values tax, levied on all properties: Broad-based land value taxes (LVT) would… assist in the provision of new housing via two channels.

By Leith van Onselen Canadian house prices have continued to recover, with the Teranet repeat sales index registering a 0.2% increase nationally over April, the second consecutive monthly increase after six straight months of price falls (see next chart).

By Leith van Onselen The Case-Shiller 20-city house price index for February 2013 was released over night, which revealed an ongoing recovery in US house prices, with prices lifting by 1.2% over the month, 3.2% over the quarter, and 9.4% over the year.

By Leith van Onselen Those who have followed this blog for a while will know that I am highly sceptical of the UK housing system, which I believe operates world’s worst practice when it comes to social and economic outcomes.

By Leith van Onselen Hong Kong’s housing market has, for a long time, been a boom/bust market.

By Leith van Onselen The Canadian housing market staged a recovery overnight, with the Teranet repeat sales index registering a 0.4% increase nationally over March, breaking a run of six straight months of falls (see next chart).

By Leith van Onselen Please find above a cracking interview between Interest.co.nz’s Gareth Vaughan and John Bolton, principal of Squirrel Mortgage Brokers, discussing the Auckland housing market.

By Leith van Onselen UK house prices are reportedly on the increase again, with prices hitting a five-year high in March, driven by strong growth in London, according to Acadametrics LSL: London’s property market powered a seventh month of increases in U.K.

By Leith van Onselen The Wall Street Journal (WSJ) has an interesting article today on the supposed “boom” in US residential land prices, which are beginning to place upward pressure on new home prices: Land values across the U.S.

By Leith van Onselen In 2004 Ireland was the toast of Europe and one of the world’s wealthiest countries: “Ireland is one of the world’s wealthiest countries since its economy has grown nearly five-fold since 1973.

By Leith van Onselen Sometimes I feel like I am operating in bizarro world.