It's Friday desk clearing time for this blogger. "Home buyers took a breather in August, a month when the typical price of a Palm Beach County house slipped to the lowest level since January. The median price of single-family homes sold by Realtors was $340,000 last month, the Realtors of the Palm Beaches and Greater Fort Lauderdale said. That was down from July’s median price of $350,000."

"New York City’s home sellers, tired of waiting for buyers, slashed prices on almost 800 listings in a single week this month, the most in at least 12 years. In the week through Sept 9, there were 774 homes in Manhattan, Brooklyn and Queens that got a price cut, the most for any seven-day period in data going back to 2006, according to a report Friday by listings website StreetEasy. The previous weekly record was in March 2009, during the global recession, when 713 properties were reduced."

"'It’s a big gut-check for sellers,' said Grant Long, senior economist at StreetEasy. 'We’re at a period in the sales market where sellers have been incredibly ambitious with the prices they’re asking. They’re having to come down and bring prices to where demand actually exists.'"

"The Cape Cod & Islands Association of Realtors reports a slight dip in the number of homes sold on the Cape and Islands in August. 'A key indicator we usually look at is ‘months supply of inventory,’ meaning the number of months it would take to sell all supply at the current pace. That is rising, fueled by a lower number of sales Cape-wide, which leads to a longer time to sell off all inventory, and double-digit percent increases in homes for sale in what were the most inventory starved towns, such as Yarmouth, Falmouth, Harwich and Provincetown,' said CCIAOR President Martha Knapp."

"In the Seeley Lake residential market, there have been 36 sales in 2018. With the majority of the homes selling under $300,000, only 23 percent of the active inventory is priced in the range that is attracting the majority of buyers. Seeley Lake is experiencing a shortage, or lack of inventory in the price range that exhibits the strongest sales numbers."

"When this happens, sellers are tempted to price their homes too high. With higher-end sales lagging, we are seeing motivated sellers reducing their prices trying to attract the attention of buyers. Remember, the buyer sets the price; your home is only worth what a buyer is willing to pay in the current market. If your home has been sitting on the market for most of the summer, you may want to consider a price reduction to attract more attention."

"There are growing calls for stronger homebuyer protections in the wake of a second major condo cancellation at the Vaughan Metropolitan Centre, this time affecting buyers of 1,633 units in the sold-out Icona buildings that were launched between January and March last year. The cancellation comes about six months after Liberty Developments cancelled the Cosmos condos along the same stretch of Highway 7. "

"The project by the Gupta Group at Highway 7 and Edgeley Blvd. was supposed to include the tallest condo in Vaughan at 55 storeys. But this week, the developer sent cancellation letters dated Sept. 14, citing 'circumstances beyond our control that make the project unfinanceable.'It’s not fair,' said Patricia DeBartolo, who invested in a $530,000, three-bedroom condo for her daughters to live in while attending school and starting their careers in Toronto."

"As Nigeria contends with the over 17 to 20 million housing deficit, the pertinent question is whether registered agents are insufficient to serve the increasing population or whether the sector is too porous that it cannot cripple the activities of quacks."

"Consultant Abdulfatai Abdulrauf pleaded with real estate experts to intimate their clients on the actual value of any property saying that some properties are over-valued. He asserted that the entire properties in Abuja were built on artificial value both for the landlord and tenant. He said, 'It’s now that we are facing the reality of what the actual rate should be either for the landlord or tenant but the issue is that landlords should accept the economic hardship and review the rent downward.'"

"Following the recent announcement of a 0,7 per cent drop in GDP in the second quarter of 2018, South Africa has fallen into another technical recession. In the world of real estate, this translates into a buyers’ market where the supply of properties outweighs the demand from buyers."

"'While this does not spell good news for sellers, buyers who have planned for the possible recession will be able to purchase a property at much lower prices,' said Adrian Goslett, CEO of RE/ MAX of Southern Africa."

"Sentosa Cove, a residential enclave nestled on an island off the coast of Singapore, is quiet at the best of times. Of a weekday, its frangipani-lined streets are mostly devoid of life. The stillness, however, belies the real estate shuffling taking place behind the scenes."

"Property listings here have been rising. But unless you're buying, there's no cause for celebration: sellers are stomaching losses as steep as 40 per cent. Average prices are down almost 30 per cent from their 2011 highs, a far more severe slump than in prime central London areas reeling from Brexit."

"Sentosa Cove stands out as a rare cautionary tale about the perils of international property speculation. The hot money from a commodities frenzy that peaked about seven years ago has fizzled. And now, after years of predominantly loss-making transactions, the enclave on Sentosa island faces yet another blow, this time from the government's decision in July to further raise stamp duties."

"But deep-pocketed international buyers, with plenty of luxury markets to choose from, are playing a patient game. 'I have a few Russian investors that are interested in buying, they want to enjoy the island life, but they're waiting for the right price,' said Chandran V R, managing director of Cosmopolitan Real Estate Pte. 'Some bungalows have been on the market for four, five years.'"

"Now even the Prime Minister is talking about it. An Australian housing crash is no longer a wild hypothesis pushed by a few people, it is a major talking point. The TV program 60 Minutes did a big investigation last week and now PM Scott Morrison has been out warning we could have a devastating house price crash if a few policies are tweaked. (Is it wise for him to talk like that when these things run on confidence? That’s another question.)"

"Are you going to see a removal truck in your street one day and discover the bank has taken your neighbour’s house? Could the bank come for your house? The data show a concerning picture."

"As Australia's levels of household debt relative to disposable income hit historic highs, experts are warning of a perfect financial storm on the horizon for struggling home owners with a surge in repayments set to hit interest-only home loans over the coming 12 months."

"'We see a lot of people who see housing an an investment and that's part of our difficulty — there's accommodation there that people don't have access to because it's being used as an investment,' said Anglicare's Mark Glasson."

"Andrew and Rachel Hayden built their dream home in Perth's south-eastern fringe three years ago, but they are expecting a mortgage default notice from their bank within a month. 'We put probably $600,000 into it and [are] probably going to sell it for $480,000 — shocking,' Andrew Hayden said."

"The couple's financial problems began when Rachel Hayden fell ill 18 months ago. The mother of five was forced to stop work and Mr Hayden had to shut down his business to care for her."

"'[I feel] absolutely gutted,' she said. 'You do everything by the book, everything. Gutted for the kids, they don't do sports or anything and haven't because you just can't afford to. It took us so long to get here and we thought yes, no wasted rent money or anything like that.'"

"The Haydens are still hopeful of selling their house, and are now renovating a bus which will become their next home."