A significant portion of homeowners in the US and Hong Kong are facing challenges in the real estate market. Redfin reports that 38% of US homeowners feel they couldn't afford their homes today. Miami and Hong Kong are highlighted for their unaffordable housing markets. In the US, 80% of Americans believe it's a bad time to buy a house. Low-income Americans received fewer new mortgages last year, impacting their ability to buy homes. Hong Kong's property market is experiencing a slump with a 40% drop in prime office rents and record-high vacancy rates. Chinese property stocks faced a sell-off due to weak housing market fundamentals. China's real estate market saw a decline during the recent holiday, with new home sales hitting a five-year low. UBS survey shows that 47% of people in China don't plan on buying a home, an all-time high, with buyers more focused on price increases than declines.
The biggest problem for China property — weak demand — might be getting worse. 47% of people don’t plan on buying a home, an all time high, according to a UBS survey of 2500 respondents. Also, buyers are more likely to purchase on expectation of price increases, not declines https://t.co/xeTeG9tjnN
These Are The Worst (And Best) Cities For Low-Income Homebuyers—As Prices Keep Rising https://t.co/26l1N0veD5 https://t.co/EKZviSxxLq
China’s embattled real estate market continued to slide during the recent Labor Day holiday, with new home sales in major cities hitting a five-year low. https://t.co/FE1etzJ0E1
#Chinese #property stocks saw sell-off in HK on Wed after previous rally, and in A-share market, real estate sector was worst-performing, as China's housing market fundamentals remain weak. https://t.co/haGgRmRP6L https://t.co/X8OxkjWSkL https://t.co/vqFMUBt3Di
Hong Kong prime office rents have dropped nearly 40% from the peak, vacancy rates are at a record high 16%, and C&W predicts about 6.7 million square feet of space will come on stream in the next five years #StabilityToProsperity https://t.co/mSbjXGsUJZ
Roughly 1 in 5 new mortgages issued last year went to low-income Americans, bringing group’s piece of homebuying pie down to where it was in 2018 … progress that group made during pandemic has faded due to high home prices and elevated mortgage rates per @Redfin https://t.co/Hjpl9yrWGJ
The painful slump in Hong Kong property https://t.co/3GW8P7BE0a
80% of Americans think it's a bad time to buy a house https://t.co/wJCXdHohBW by @RebeccaChenP
Miami has one of the least affordable housing markets in US, report says. Here’s why https://t.co/JiAnkoAmO0
Nearly two of every five (38%) homeowners don’t believe they could afford to buy their own home if they were purchasing it today, per Redfin.