A report from the Globe and Mail in Canada. "The psychological shift among Vancouver homebuyers threatens to prolong the city’s deep slump, Bank of Montreal warns. 'The market remains in all-out correction mode, and the psychology there is clearly shifting, from ‘FOMO’ to 'FO getting stabbed by a falling knife,' said BMO senior economist Robert Kavcic."

The Daily Mail on the UK. "Five luxury properties are to be demolished just three years after they were built as their owner blames Brexit uncertainty for the lack of interest in high-end homes. The modern, four-bed homes in Poole, Dorset, which have been marketed at £1.3million each, are failing to sell as buyers hold on to their cash at the top end of the market. Instead, developer Alex Collier is ploughing £5million into replacing the homes with a block of 30, one and two-bed flats, which he hopes to sell for around £400,000 each."

The Malaysian Star. "Earlier this week, the National Housing Policy 2.0 (NHP2.0) 2018-2025 was unveiled with the main aim to address the issue of oversupply as well as affordability, which has created a massive mismatch that we are in now."

"Question is, don’t developers know what is happening in the market and they continue to build unwanted homes that are not saleable and worse, at the wrong location?"

The Epoch Times on China. "Since about 2009, investment has become the top horse pulling the Chinese economy. The most active investments were in real estate and infrastructure, which brought a 'construction prosperity' phase of less than 10 years. Construction prosperity accelerated urbanization nationwide, but also caused a real estate bubble."

"The housing supply is enough to cover demand for the next 20 years, and prices are boosted to unaffordable levels for salary earners, meaning that the real estate bubble cannot grow any bigger. Today the bubble is already shrinking."

The Australian Financial Review. "One in four buyers of housing lots in Melbourne, the country's biggest residential land market, are defaulting on their purchases, says Financial Review Rich Lister Nigel Satterley."

"Mr Satterley, who runs the country's biggest private land developer, Satterley Property Group, had warned in December that around 5000 lots in new housing estates would either default or have to be on-sold quickly over the next 30 months due to Uber-driving speculators and foreign investors not being able to get finance."

"But, speaking with The Australian Financial Review this week, he said the situation was 'much worse than I previously thought.' 'At a minimum, the fallover rate is 20-25 per cent in the Melbourne land market,' Mr Satterley said including across Satterley's own housing estates. 'This is up from 5 per cent in December 2017.' Mr Satterley said in Perth the fallover rate was about 35 per cent and in Sydney about 15 per cent."

"While developers retain the deposit if a buyer walks away, they then have to resell the lot in a market where prices are falling and sales volumes have crashed amid the credit squeeze and housing market slowdown. One industry source said he knew of a Melbourne home builder with a 40 per cent default rate."

"Speculators, desperate to flip their sites or lose their deposits, have turned to classifieds website Gumtree in droves. 'Any speculator sitting on a block is on Gumtree hoping to sell it, that activity has ramped up. A lot of them put a deposit on blocks with no hope of getting finance and they're panicking,' said Kelvin Ryan, CEO of home builder the Simonds Group."