UK Housing Market Update With activity so low, why aren't prices falling more quickly? The low level of forced selling is almost certainly the main reason why house prices are currently falling more slowly that the ultra-low levels of housing market activity would suggest. However, we... 24th February 2011 · 1 min read
Canada Economic Outlook Housing downturn to hit economy hard Because Canada emerged from the global financial crisis largely unaffected, many Canadians now appear to believe that the economy is somehow invincible. This level of hubris is disconcerting when... 23rd February 2011 · 1 min read
Canada Economic Outlook Housing downturn to hit economy hard Because Canada emerged from the global financial crisis largely unaffected, many Canadians now appear to believe that the economy is somehow invincible. This level of hubris is disconcerting when... 23rd February 2011 · 1 min read
US Housing Market Data Response Existing Home Sales (Jan.) The upward trend in existing home sales is set to remain slow and steady rather than speedy and spectacular. 23rd February 2011 · 1 min read
China Economics Update Hong Kong property bubble growing Hong Kong’s economy is growing at a healthy pace but residential property looks increasingly overvalued and today’s budget underlines that the government has few effective means to help. 23rd February 2011 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Jan.) The marginal rise in total mortgage lending in January is not particularly encouraging, given that its makes up only one-quarter of the previous month’s fall. Weak demand and hefty refinancing... 23rd February 2011 · 1 min read
US Housing Market Outlook Another year of falling prices House prices will decline by at least 5% this year. The real danger is that a vicious circle of falling prices and rising foreclosures drags prices down even further. 22nd February 2011 · 1 min read
US Housing Market Data Response House Prices (Q4) & Confidence (Feb.) The further fall in the Case-Shiller measure of national house prices at the end of last year took prices to a new cycle low, meaning that a double-dip is now officially underway. Prices are likely to... 22nd February 2011 · 1 min read
US Housing Market Update Four obstacles to housing finance reform The Obama Administration's recent proposals to wind down the government-owned institutions of Fannie Mae and Freddie Mac and create a market in which private businesses are the primary source of... 17th February 2011 · 1 min read
US Housing Market Data Response Mortgage Delinquencies (Q4) Better labour market conditions led to a significant fall in the share of delinquent mortgages at the end of last year. Further falls in the unemployment rate this year are likely to push the... 17th February 2011 · 1 min read
UK Housing Market Update Is mortgage affordability close to an all-time high? We do not agree with research published recently in the Daily Telegraph suggesting that mortgage affordability is at near-record levels. By looking at interest payments only, the Lombard Street... 17th February 2011 · 1 min read
UK Housing Market Update What effect would a rise in Bank Rate have on mortgage interest rates? In principle, lenders appear to have scope to absorb any rise in Bank Rate within their already high margins. Yet lenders are now raising the cost of some mortgages in response to higher swap rates... 15th February 2011 · 1 min read
US Housing Market Update Higher mortgage rates doing little to dent affordability The recent rise in mortgage rates to a 10-month high has done little to dent affordability. Even a doubling in rates would leave our long-term measure of affordability below that seen before the... 14th February 2011 · 1 min read
US Housing Market Chart Pack Prices still sliding The renewed downward trend in house prices continued towards the end of last year, with prices on the 20-City Case-Shiller index falling for the fifth month in a row in November. (See Chart below.)... 11th February 2011 · 1 min read
UK Housing Market Data Response CML Buy-To-Let Lending (Q4) Buy-to-let (BTL) lending ended 2010 on a comparatively strong note. But the data were not quite as strong as they seem at first sight. 10th February 2011 · 1 min read
UK Housing Market Data Response Mortgage Arrears and Possessions (Q4) While the number of arrears and possessions cases fell in the fourth quarter, the ongoing squeeze on household incomes from tax rises and public spending cuts, as well as the likelihood of a further... 10th February 2011 · 1 min read
