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21.11.25 - 06:12
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China Prepares New Property Stimulus Package As Housing Crisis Enters Year Six (ZeroHedge)
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China Prepares New Property Stimulus Package As Housing Crisis Enters Year Six
The global stimmy train is about to leave the station.
With Japan - which is now in recession - set to announce a massive (for its GDP) $150BN fiscal stimulus any second, it's (increasingly belligerent) neighbor to the west is also about to make it rain.
China is considering new measures to turn around its zombified property market, about to enter its 6th year of contraction, as concerns mount that a further weakening of the sector will threaten to destabilize its financial system, Bloomberg reports
Policymakers including the housing ministry are considering a slew of options, such as providing new homebuyers mortgage subsidies for the first time nationwide. Other measures being floated include raising income tax rebates for mortgage borrowers and lowering home transaction costs. In the end, however, China will just do what every economy does when it is scrambling to kickstart demand: it will hand out chec...
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20.11.25 - 23:42
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Chicago Homeowners Demand Answers As Property Taxes Spike (ZeroHedge)
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Chicago Homeowners Demand Answers As Property Taxes Spike
Chicago homeowners are demanding answers as property taxes rise without visible improvements, according to Fox News. In Lawndale on Chicago's West Side, residents told ABC7 Chicago they're paying more but seeing little change. Community leaders and the Lawndale Christian Development Corporation held a “property tax bonfire” to voice frustrations.
Resident Milton Clayton said, "There's been a divestment in this community for the most part, but it seems like now that people have found an interest in reclaiming the neighborhood, now it's like we're being taxed for prosperity."
Fox News writes that another resident, Thomas Worthy, said his bill rose by $977 and added, "The tax increase is tied to a TIF that I have no idea why… It's collecting money from our neighbors and our streets, but we're not being notified for why it's in the bill."
He also said, "We understand utilities are going up… but it's...
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20.11.25 - 17:21
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Existing Home Sales Beat In October As Mortgage Rates Tumbled (ZeroHedge)
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Existing Home Sales Beat In October As Mortgage Rates Tumbled
With mortgage rates tumbling, housing market participants have been disappointed by the lack of enthusiasm by homebuyers to apply for mortgages (though there was a decent bounce in refi activity)...
Source: Bloomberg
This morning's existing home sales data (admittedly for October) will give us a further glimpse into the reality oh home-buying vs home-selling as the gap between current mortgage rates and the average existing mortgage rates remains vast...
Source: Bloomberg
Analysts (rightfully, given the shift in rates) expected a bounce, albeit tiny (+0.5%), in existing home sales for October and were surprised to the upside with a 1.2% MoM rise...
Source: Bloomberg
Which lifted the home sales SAAR a little more off record lows (to eight month highs)...
Source: Bloomberg
This print represents signings - so when sales probably went through from August and September (before rates really started to decline).
“Home sales increased ...
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20.11.25 - 12:01
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Democrats zero in on affordable housing as potential winning issue (The Hill)
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When Democrats have gone back to examine Zohran Mamdani's winning campaign for mayor of New York City, they've homed in on one issue that he underscored: affordable housing. Mamdani made the issue a centerpiece of his campaign from start to finish, so much so that affordability, in general, almost became synonymous with his name and......
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20.11.25 - 10:12
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London Luxury Home Prices Plunge As Wealthiest Flee Ahead Of Tax-Hikes (ZeroHedge)
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London Luxury Home Prices Plunge As Wealthiest Flee Ahead Of Tax-Hikes
Asking prices for UK homes declined more steeply than expected in November, down 1.8% on a monthly basis - the biggest fall in prices for this time of year since 2012.
Interestingly, alongside UK government budget anxiety, Rightmove pointed to "the decade-high number of homes available for sale" and resulting downward price pressure, mostly affecting the higher end of the property ladder.
“Months of pre-Budget speculation has taken its toll on house prices as it has with other parts of the economy,” said Tom Bill, head of UK residential research at Knight Frank.
Colleen Babcock, Rightmove's property expert, commented:
"It appears that the usual lull we'd see around Christmas time has arrived early this year, and sellers who are keen to move are having to work especially hard to entice buyers with competitive pricing...This is a buyers' market."
But the weakness was far from nationwide, with Lond...
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