It's Friday desk clearing time for this blogger. "Denver epitomizes the slowdown taking hold this year in the nation's housing market. Until summer, broker Van Lewis in Aurora, Colo. was having his best year ever. Since then, he says, monthly sales have fallen 50 percent. He partly blames an influx of apartment buildings that are offering significant concessions, making renting more attractive than buying for many millennials. 'The spread between income and (purchase) costs became too much,' he says."

"Holly Steele eventually sold her Aurora townhouse in late September but it took nearly three months instead of the two weeks she expected. And she had to drop the price three times, from $295,000 to $276,500. 'It was getting a little stressful because I wanted to make my move,' she says."

"In the Bay Area, homes are taking longer to sell and aren't getting as much money as they did just a few months ago. After years on the up, the red-hot housing market appears to be cooling off. In Sunnyvale, luxury property specialist Sherdin Betbabasi just lowered the price of a home on Windsor Terrace by about $250,000. However, it isn't necessarily a bad thing for the seller. In fact, Betbabasi thinks it will help him generate some buzz."

"'Look at the quality of what you buy, not just the price. If you're looking at a nice home to buy, in the right school district, with a good commute that you want to have, then go for it, understanding that the market will fluctuate,' Betbabasi said."

"An apartment glut, falling prices and slowing demand has almost tripled the number of off-the-plan Sydney apartments valued at less than the purchase price. CoreLogic research shows more than 14 per cent of Sydney apartment owners' resales are at a loss, a rise from 11 per cent in the past 18 months. As well, the number of off-the-plan apartments that are valued at settlement below the price in the contract has jumped from 11 per cent in April last year to 30 per cent last month."

"Sam Saliba, who has eight properties in his portfolio, said falling prices created opportunities, despite his having recently lost money on an off-the-plan purchase he describes as a 'mistake.'"

"Mr Saliba is considering selling five properties in Hobart, where prices are still rising, and another in Albury to take advantage of lower prices in Sydney, which until the slowdown were too expensive. 'I see this as an opportunity,' Mr Saliba said. 'A lot of people are going to have to start refinancing and there are going to be fewer buyers at auctions. I'll wait until after Christmas and then I'm going to pounce.'"

"Aberdein Considine says buyers and investors from other parts of the UK are returning to the north-east market as the energy industry emerges from one of the most testing downturns in its history. Robert Fraser, senior property partner at the law firm, believes the current market is the best property buyers have experienced in two decades."

"'So far this year, the average sale price in Aberdeen alone is £179,485, down around 15% on the 2014 peak,' he said."

"Non-banking financial companies, which kept credit flowing for real estate developers, have finally turned off the spigots, sparking concerns of defaults and delays. A Bengaluru developer, who did not wish to be named, said while one or two months can be managed with sales, timely disbursement from the lender is required. 'This month, a lender has already delayed payment and if it continues I may have to default,' he said."

"Welcome to China‘s 'consumption downgrade' culture, a potentially worrisome development for Beijing and the world. Housing is so expensive that Wang Jiazhi moved out of his own home. The 34-year-old semiconductor engineer in the southern city of Shenzhen bought a one-bedroom apartment in 2016. In addition to a mortgage of more than $700 a month, he needs to pay his relatives back for the money he borrowed for the down payment. So he rents his apartment and shares a four-bedroom apartment with nine other men. This way, Mr. Wang — who makes about $2,000 a month after taxes — saves $160 a month."

"Like many Chinese men, Mr. Wang believes he needs an apartment in order to find a wife. But he is under so much pressure with his mortgage and debt, and with supporting his aging parents in the countryside, that he has had to postpone his plan for marriage. His prospects weren‘t good anyway: To save money, he has stopped dating."

"'I work long hours every day,' he said. 'It makes me feel occupied.'"

"Lots of people talk about affordable housing. But how many really want to do something about it? How many homeowners are interested in watching the value of their houses decline to more affordable levels. Anybody? Anybody? I thought so."

"Are others truly interested in lower prices? When the housing bubble burst in 2008 and prices went into freefall, were affordable housing advocates cheering on the lower cost of housing? Were they urging the government to step aside and let the chips fall where they may? Or did they support the alphabet soup of programs such as HARP and HAMP designed to keep delinquent borrowers in their homes rather than allow foreclosed houses to come on the market at distressed prices?"

"When was the last time anyone in favor of lower prices spoke out against the microscopic interest rates and lenient borrowing standards that keep prices high? Rather than teaching homeowners and prospective homeowners that real estate prices go up and down, the clear message is that public policy stands ready to support housing prices come what may."

"On the flip side, high prices in and of themselves reduce demand. The law of supply and demand cannot be repealed. Any proposal to increase affordability that does not recognize this reality is doomed to failure."