US Housing Market Data Response Housing Starts (Jun.) The improvement in housing starts in June was further evidence that the housing recovery is holding up even as the wider economic recovery has lost a considerable amount of momentum. 18th July 2012 · 1 min read
UK Commercial Property Update Rumoured RPI changes not a reason for concern Rumoured changes to the way in which the RPI is calculated may have a detrimental impact on the value of property with an index-linked lease. But even if any changes to the RPI are made, which is very... 18th July 2012 · 1 min read
US Housing Market Focus How much lower will the homeownership rate get? Over the next few years, it’s plausible that tight credit, subdued confidence and many more foreclosures will drive the homeownership rate down to 64%, from 65.4% now. Over a longer horizon, the case... 18th July 2012 · 1 min read
UK Housing Market Update Are Northern house prices leading the way? Contrary to popular perception, the current divergence between house price inflation in different parts of the country is neither new, nor abnormally high. It is possible that, in time, the resilience... 17th July 2012 · 1 min read
US Housing Market Update Is negative equity a positive for the housing recovery? The reluctance of homeowners who are in negative equity to sell their home and realise a loss is one explanation for the sharp fall in the visible inventory over the past few years. Nevertheless... 16th July 2012 · 1 min read
US Economics Weekly Bernanke to take centre stage This week's congressional testimony from Fed Chairman Ben Bernanke will be closely watched for hints that the FOMC is any closer to launching a third round of large-scale asset purchases. Even though... 13th July 2012 · 1 min read
US Housing Market Chart Pack House prices are on a streak but may slow in second half Annualised growth on the Case-Shiller and CoreLogic house price indices over the past three months stands at 6.2% and 9% respectively. However, price growth may moderate in the second half of the year... 12th July 2012 · 1 min read
UK Housing Market Outlook Economic weakness will undermine house prices The past quarter brought no evidence of a stronger economic recovery, an easing in credit conditions or any resolution to the euro-zone crisis. Therefore, with households cautious, housing market... 11th July 2012 · 1 min read
Bank of Canada Watch Interest rates likely to remain low for years The Bank of Canada policy announcement next week, which almost surely will maintain the policy interest rate at 1%, is likely to acknowledge that the more modest outlook for the global economy has... 11th July 2012 · 1 min read
Canada Economics Update Booming housing construction still on uneven footing The recent strength in housing starts, mostly multiples, reflects strong new housing sales from over a year ago. However, home sales are now softening and the recent tightening of mortgage insurance... 11th July 2012 · 1 min read
UK Housing Market Data Response RICS Housing Market Survey (Jun.) The further deterioration in housing market demand in June was met with a broadly offsetting decline in supply. Nevertheless, a growing proportion of surveyors are reporting that house prices are... 10th July 2012 · 1 min read
Japan Economics Weekly A quick look at housing and land prices in Japan Land prices continue to drop in Japan despite having already been falling for over twenty years. During that period, house prices have risen on occasion, most recently in 2010. But in each case the... 9th July 2012 · 1 min read
Canada Economics Weekly Corporate cash piles could boost economic growth Canadian businesses are flush with cash. Even if just a small fraction of the cash held by the non-financial sector were used to boost dividends, we estimate it would significantly increase personal... 6th July 2012 · 1 min read
China Economics Update Property risks remain China’s frozen property market is showing signs of a thaw. Sales took off in the second half of June and prices are rising for the first time in months. Recovery in the sector would help haul the... 6th July 2012 · 1 min read
US Housing Market Data Response Mortgage Applications (Jun. 12) While another fall in mortgage rates saw remortgaging applications surge higher in June as a whole, applications for home purchase remained stuck in the doldrums. Nevertheless, this isn’t preventing a... 5th July 2012 · 1 min read
UK Housing Market Chart Pack Tight credit conditions will weigh on activity There was nothing in the past month’s data to change our view that the UK housing market will experience a long, drawn-out correction over the next few years. But with few signs that the euro-zone... 5th July 2012 · 1 min read
