Core Insights - California is experiencing a chronic housing shortage, making it one of the least affordable housing markets in the U.S. for middle-income workers [1][8] - The structural mismatch between housing demand and supply is a significant factor driving prices beyond the reach of many workers [2][3] - High construction costs, lengthy permitting processes, and regulatory hurdles are contributing to the limited supply of new housing, particularly affordable units [3][8] Housing Inventory Trends - Active listings in California fell sharply from 2020 to 2022, reaching historically low levels, although there has been a slow recovery in the following two years [5] - By December 2025, California had approximately 56,000 active listings, an 11% increase year-over-year, but still below the pre-pandemic range of 70,000 to 90,000 listings [6][8] - Inventory peaked at nearly 78,000 listings in July 2025, indicating some normalization in the market, yet it has not returned to a balanced state [8] Affordability Challenges - The median-earning household in California spends a significantly larger share of their income on housing compared to most other states, highlighting the affordability crisis [8] - In cities like Los Angeles and San Jose, typical buyers face the challenge of dedicating a higher percentage of their income to mortgage payments, making homeownership unattainable for many middle-income workers [10] - As of December 2025, there were about 17,000 active million-dollar listings statewide, reflecting a shift in price distribution and indicating that higher-priced homes are becoming more common [11]

Summary of Key Points from the Conference Call Industry Overview - **Industry**: China Economic Outlook - **Context**: The call discusses the economic sentiment in China, focusing on provincial growth targets and housing market adjustments. Core Insights 1. **Provincial Growth Targets**: Provinces are adjusting their growth targets down to approximately 5% on average, a decrease from around 5.4% in the previous year, indicating a pragmatic approach to economic growth [1][2][4] 2. **National Target Implications**: A potential national target of 4.5-5% could facilitate economic rebalancing, allowing for a focus on quality over quantity in growth [1][4] 3. **Housing Market Adjustments**: The easing of the "three red lines" policy for developers suggests a shift in regulatory constraints, with cash inflow issues becoming a more pressing concern than previous debt ratios [2][4] 4. **Pragmatic Mindset**: The reduction in growth targets reflects a more practical mindset among provincial leaders, prioritizing sustainable growth over aggressive targets [4] 5. **Infrastructure and Consumption**: - Infrastructure spending is robust, with net government bond issuance reaching Rmb1.2 trillion, the highest for January on record [6] - However, consumer spending remains weak, particularly in passenger car sales, which have seen a significant decline [6][20] Additional Important Points 1. **Policy Direction**: Future policies are expected to focus on targeted demand-side measures in the housing market, including mortgage subsidies and easing purchase restrictions [5] 2. **Economic Fundamentals**: - Infrastructure activity is strong, with rebar shipments and cement demand showing positive trends [6] - Exports are stable, with container throughput indicating continued growth [6] 3. **Consumer Trends**: The decline in passenger car sales and home appliance sales suggests ongoing challenges in consumer confidence and spending [6][20] This summary encapsulates the key points discussed in the conference call, highlighting the current economic sentiment in China and the implications for various sectors.

Global House Price Index 2025 Q3 Edition Knight Frank's Global House Price Index provides a quarterly snapshot of trends in mainstream housing markets across 55 markets knightfrank.co.uk/research Global price growth edges higher as rate cuts broaden House price growth across global markets accelerated in the third quarter of 2025. The weighted average annual price increase among our basket of 55 housing markets rose to 2.4%, up from 2.2% in Q2. STRONGER GROWTH Global house‑price growth strengthened in Q3 20 ...

PeopleImages / Shutterstock Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. There’s great news for America’s homeowners — a growing percentage now own their homes outright. That means no mortgage, and no liens. U.S. Census Bureau data showed that in 2024, about 40.3% of owner-occupied homes in the United States were owned outright, meaning they no longer had mortgages to pay (1). This share has been steadily increasing — up from 34.4% a decade earlier ( ...

There are a handful of housing markets across the Midwest and the Sun Belt that have more available inventory, partly due to a boost in new construction, giving buyers more choices and negotiating power. Taking the top spot on Zillow's list of the metros with the most buyer-friendly housing conditions in 2026 is Indianapolis. The Indiana capital was ranked No. 1 among 50 metros analyzed by Zillow. Atlanta, Charlotte, Jacksonville and Oklahoma City rounded out the top five most buyer-friendly housing markets ...

The American housing market in the first half of the 2020s was marked by extraordinarily high prices and limited supply. In 2026, though, a new wrinkle as emerged: mortgage rates are dropping, while home prices remain stubbornly high — with supply still constricted, relatively preferable rates are only creating more competition again. President Donald Trump’s new housing agenda could complicate this situation even further, per Yahoo Finance. Increasing demand while supply remains locked below it is likel ...

US President Donald Trump has made housing affordability a centrepiece of his economic agenda, recently announcing policies designed to increase homeownership. From restricting institutional investors from buying residential properties to urging "Fannie Mae†and "Freddie Mac†to buy billions in mortgage- backed securities, the administration has leaned on aggressive measures to ease costs. ...

January 25, 2026 09:39 PM GMT China | Asia Pacific Managed Housing Downcycle to Last Another Two Years Policy to steer a controlled housing adjustment, not a pivot. Prices to fall another 8%/6% in 2026/27, with initial stabilization pushed to 2H27. Sizeable housing drag on growth gradually tapers, capping domestic demand and inflation. Household allocation to riskier assets remains fluid. Policymakers likely to guide for continued housing adjustment, but with guardrails against uncontrolled slide: Several r ...

January 23, 2026 09:03 AM GMT Investor Presentation | Asia Pacific M Foundation What's Next After the New Year Rally? Morgan Stanley Asia Limited M Deposit Migration Underway Onshore equity mutual funds AUM rose notably in December ~ Rmb30trn term deposits will approach maturity in 1Q26 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 Onshore Mutu ...

Key Takeaways Renovating to boost your home’s value sounds like a smart way to drop PMI, but appraisals aren’t guaranteed to come in high enough. Most renovations add less to a home’s value than they cost, making it an expensive path to building equity. Paying extra toward your mortgage principal may be a more reliable way to increase equity enough for PMI removal. The collision of high home prices and high mortgage rates has made homebuying very difficult for many Americans over the past few yea ...