Core Insights - Melbourne's CBD has the highest property sales volume in Australia, with an average of one apartment sold every four hours over the past year [1][4] - Despite a significant number of existing investors exiting the market due to high holding costs and land tax increases, new investors, particularly from interstate, are entering the market [3][10] - The median house price in Melbourne is now lower than in Sydney, Brisbane, Perth, and Adelaide, making it a more attractive investment option for buyers from other states [3][10] Sales Performance - In the past 12 months, Melbourne CBD led the country with 2,214 property sales, followed by Tarneit with 1,547 sales [1][4] - Other top-selling suburbs include Point Cook (1,183), Pakenham (990), Craigieburn (990), and Werribee (985) [4][10] Market Dynamics - Over 60 suburbs in Melbourne experienced daily property transactions, indicating a robust market despite investor withdrawals [3] - The increase in mortgage activity is notable, with record pre-approval numbers reported recently [7] - The upcoming increase in the first home buyer guarantee limit from AUD 800,000 to AUD 950,000 in January 2026 is expected to attract more buyers into the market [8] Affordability and Investment Trends - Affordability remains a key attraction for Melbourne, especially for interstate investors targeting growth corridors in the northern and western suburbs [10] - Despite rising holding costs, the long-term growth potential of Victoria continues to attract serious investors [10] - Many properties in Melbourne are currently priced below replacement costs, suggesting potential for market recovery driven by population growth and international migration [5]

Core Insights - A new analysis from Realtor.com® reveals that the median asking rent in New York City accounts for 55% of a typical household income, significantly higher than the national median of 44.5% [1][5] - Renters in the Bronx face the highest rent-to-income ratio at 81.6%, indicating a severe affordability crisis across all boroughs [2][5] - The report highlights the urgent need for a multi-faceted housing supply plan from mayoral candidates as renters now make up 70% of households in NYC [4] Rental Market Overview - The median asking rents by borough are as follows: Manhattan at $4,569, Brooklyn at $3,835, Queens at $3,349, and Bronx at $3,132 [3][5] - Year-over-year rent changes show Brooklyn at 6.0%, Queens at 2.7%, Bronx at 1.0%, and Manhattan at 3.3% [3] - Over the past six years, the Bronx has seen a staggering rent increase of 61.4%, the highest among the boroughs, while Brooklyn and Queens have increased by 40.8% and 40.2%, respectively [3] Affordability Analysis - The rent-to-income ratios indicate that even if rents were frozen, it would take 12-20 years of steady income growth to restore affordability to the recommended standard of 30% [2][5] - The maximum affordable rent under current income levels is significantly lower than the median asking rents, with the Bronx's maximum at $1,152 compared to a median rent of $3,132 [3][5] - New York State as a whole received a "D" grade for affordability, highlighting the widespread nature of the housing crisis [6] Political Implications - The deteriorating affordability is influencing political momentum, as seen in the recent Democratic NYC mayoral primary, where housing issues were a key focus [4] - The report emphasizes the necessity for mayoral candidates to present credible plans to address the housing supply crisis to gain voter support [2][4]

Market Analysis - Housing market unaffordability is so severe that it has nearly become frozen [1]

Hello everyone. We've got a lot to discuss today. Financial markets, they are completely broken now.Young people can't afford to buy a home. Retail investors are crushing Wall Street firms this year. And we've got an electric message from the mayor of New York City about drones that are being used in the subway.We're live today from the desk of Anthony Pompiano. [Music] All right, folks. I got to get something off my chest.One of the most surreal aspects of financial markets is the 2008 global financial cri ...

Core Insights - The availability of standalone houses priced below 2 million AUD in Sydney's inner city is rapidly diminishing, with fewer than 100 listings within a 10-kilometer radius from the city center [1][6] - The most affordable areas for standalone houses are concentrated around the Sydney Airport flight paths, with median prices around 1.7 million AUD [3] - The rising prices are pushing even well-off families out of the market, creating a "dual-track" system where homeownership increasingly relies on inherited wealth rather than earned income [5][8] Price Trends - The median price for standalone houses in Mascot is approximately 1.95 million AUD, while Marrickville is around 2.1 million AUD [3] - The average listing in sought-after areas like Rosebery and coastal suburbs can attract over 100 interested buyers, indicating high competition [8] - The price threshold for purchasing near the CBD is expected to rise from 2 million to 3 million AUD, reflecting a significant shift in affordability [11] Supply and Demand Dynamics - Demand for properties in the inner city far exceeds the current supply, leading to inevitable price increases [10] - Areas within 10 to 20 kilometers from the CBD still have high property prices, with most standalone houses exceeding 2 million AUD [11] - Some southwestern suburbs, such as Wiley Park and Lakemba, remain among the few areas with median prices below 1.4 million AUD [11] Regional Insights - Expanding the search radius to 20 to 35 kilometers from the CBD reveals more affordable options, such as Fairfield and Canley Vale, with median prices of 1.12 million AUD and 1.22 million AUD respectively [13] - Areas with historically lower prices are often characterized by longer commuting times or inadequate transportation infrastructure [13] - Residents in Marrickville appreciate the value for money and cultural environment, highlighting the area's appeal for families [14]

Bring in show music, please. Today on SquawkPod, late night votes in the House. Speaker Mike Johnson.What I wanted everybody to know about the one big beautiful bill is it it it wasn't a magic trick. This was I think it was Vince Lombardi that said victory loves preparation. And his comments on the Epstein files, freeze the rent.An affordability focus boosted New York mayoral candidate Zoron Mandani, but the soaring cost of living hits beyond the big apple. Former New York housing commissioner and former HU ...

The problem is, and I I think that's true of this election in New York. We call it an affordability election. It was a housing election.I think it's true of our election. Donald Trump was elected because we had an inflation problem. That was a housing problem. Our inflation problem was a housing problem the last few years.And so, this is a problem that is driving elections. I would even argue it's the number one issue, housing affordability in America. And then you take Manhattan.There's no solution to affo ...

Investment Rating - The report does not explicitly provide an investment rating for the housing market but discusses various trends and dynamics affecting housing prices and affordability globally. Core Insights - Global home price gains persist despite rising policy rates, although the pace of home price appreciation is slowing [20] - The global housing affordability crisis is deepening due to supply/demand imbalances and elevated rents [21] - The US housing market is characterized as frozen, with declining demand and homebuilder sentiment alongside high mortgage rates [23] - Shelter inflation is likely to return to pre-pandemic levels, but rising rents have compounded cost-of-living challenges [20] - Demographics and household formation support long-term demand, and any housing correction in the short term would likely be modest [20] Summary by Sections Global Housing Market Trends - Home prices have increased by 37% on average over the past decade, with significant growth recorded in countries like Iceland, Portugal, and Hungary [32] - The OECD reports that real home prices have increased by 16% relative to income [32] - The global housing affordability crisis is now a common theme, with many OECD countries facing worse issues than the US [49][56] US Housing Market Dynamics - The US housing market is experiencing a significant decline in demand, with home sales in 2024 being the lowest since 1995 [23] - Housing starts fell approximately 9.8% in May, and the issuance of building permits hit a five-year low [23] - The median sales price of existing homes rose by 1.8% despite fewer home sales [23] Affordability Challenges - Housing affordability in the US has declined almost 30% since December 2021, nearing levels last seen in the late 1980s [51] - The housing affordability index in the US plunged from about 150 in 2021 to the mid-80s by 2024 [49] - Many households are spending over 40% of their income on housing, indicating a severe affordability crisis [51] Regional Disparities - The report highlights divergent trends across the US, with densely populated urban centers facing decreases in demand while suburban and rural areas see demand increases [84] - The Sunbelt region is experiencing higher vacancies and an oversupply of luxury apartments compared to coastal markets [88] Future Outlook - Despite the current challenges, the report suggests that risks to financial stability from the housing market appear manageable [21] - The report anticipates that any housing correction in the short term would likely be modest due to ongoing demographic support for demand [20]

Core Insights - New home sales in the U.S. experienced the largest decline in nearly three years, primarily due to ineffective sales incentives that failed to alleviate affordability constraints [1] Sales Performance - New single-family home sales fell by 13.7%, reaching a seasonally adjusted annual rate of 623,000 units, marking the lowest level in seven months [1] - This sales figure was below the expectations of all economists surveyed by Bloomberg [1]

Core Insights - The affordability of housing in major U.S. metros is severely constrained, with the typical household needing to spend 44.6% of their income to afford a median-priced home as of May 2025, significantly above the recommended 30% threshold [1][8] - Only three major metropolitan areas—Pittsburgh, Detroit, and St. Louis—allow median-income earners to purchase a median-priced home without exceeding 30% of their income [3][4] - High mortgage rates and home prices are the primary factors contributing to the lack of affordability in most large metros, with the average mortgage rate at 6.82% as of May 2025 [3][7] Affordability Analysis - In Pittsburgh, the median listing price is $249,900, requiring 27.4% of household income; in Detroit, it's $270,000 (29.8%); and in St. Louis, $299,900 (30.0%) [4][6] - Conversely, in Los Angeles, the median home price is $1,195,000, necessitating over 104% of the area's median income, indicating extreme unaffordability [5][6] - Other high-cost metros include San Diego, San Jose, New York, and Boston, all with affordability ratios exceeding 60% [5][6] Market Dynamics - Demand for affordable homes is increasing, particularly in the Midwest, where some markets still offer pathways to homeownership for median-income households [2][5] - The coastal markets, particularly in California, are experiencing a significant affordability crisis, with a high percentage of renters compared to homeowners [5][6] - The overall national median home price is $440,000, with a monthly payment of $2,930, reflecting the broader affordability challenges across the country [8] Potential Solutions - To improve housing affordability, strategies could include raising incomes or lowering housing costs through reduced mortgage rates or home prices [7] - Increasing the supply of affordable homes is critical, as many markets face a growing home supply gap, which has kept prices high [7]