A report from CNBC. "Mortgage applications to purchase a newly built home dropped 11 percent in November, compared to a year ago, according to the Mortgage Bankers Association. This drop is surprising, given the sharp drop in mortgage rates in November, and therefore underscores the fundamental weakness in the housing market today."

"Home price gains have cooled dramatically in the last six months, and there is growing concern among consumers that buying now would not be the best investment. In some markets, there is a fear that home prices will actually fall in the coming year, so buyers today would lose money."

From Mansion Global on New York. "In Manhattan, November’s rental market saw slipping median prices, rising concessions and falling vacancy rates, according to a report Thursday from brokerage Douglas Elliman. "

"The market share of Manhattan concessions—discounts or incentives offered to potential tenants, which include a free month’s rent or an owner-paid broker fee—rose year over year for the 42nd consecutive month, up to 42.2% last month from 29.6% the year previously."

"Also helping fill buildings are potential buyers who are 'beginning to ‘camp out’ in the rental market until some of the uncertainty facing the sales market eases,' Douglas Elliman said in the report."

"In Brooklyn, landlord concessions dominated the market, with eight out of 10 new development rentals coming with a concession, and the share of overall concessions rising to 46.5%, up from 18.6% last year. In Queens, the share of market discounts was higher at 59.2%, but the increase was far smaller, rising from 44.5% last November, Douglas Elliman said. "

From Realtor.com on Florida. "It looks like Birdman's loss will be someone else's gain. After the rapper and record producer, whose given name is Bryan Williams, was evicted from his baller mansion, his personal belongings were placed in storage, and the 10-bedroom, 14-bath waterfront home went on the market for $15.5 million last month."

"The massive estate initially went on the market for $20 million in 2017, when Birdman's creditors began to chirp. Since then, it's been nothing but drama for the Cash Money impresario."

"Birdman slashed the price to $16.9 million shortly before the South Florida Business Journal reported he was facing $12 million foreclosure proceedings. The bank was ready to reclaim not only the 19,970-square-foot home, but also a 26,040-square-foot Miami office building that's home to his Hit Factory Criteria Recording Studios. From there, it got worse."

"Williams bought the 2004-built Miami Beach mansion for $14.5 million in 2012, and immediately set about tricking it out, reportedly to the tune of millions."

The Houston Chronicle on Texas. "Houston-area home sales last month held up in price ranges above $150,000, but the number of homes that sold for less than that figure plunged, a new report shows."

"Sales of homes priced between $100,000 and $149,000 were down 24.3 percent in November compared with a year ago, the Houston Association of Realtors said in a monthly report released Wednesday. Sales of homes below $100,000 were off 25.3 percent."

The Los Angeles Times in California. "To the editor: Columnist George Skelton expresses unusual optimism that the Democrats in Sacramento will not go overboard on new taxes. In the past, Skelton has suggested a willingness to modify Proposition 13 as a new revenue source. Not a good idea."

"Property valuations and real estate sales are already being affected by last year’s federal tax reform law. We see more and more 'open house' signs in our neighborhood every weekend. My sister-in-law just sold her home for 20% less than the listed price a year ago, when it first went on the market."

"And, with the recent dramatic drops in the stock market, there will be fewer millionaires paying capital gains taxes in California than in the recent past. Democrats had better tighten their belts and learn to live with a new reality."