A report from the Wall Street Journal on Dubai. "When the world’s tallest building opened here in 2010, a one-bedroom apartment with a view of the Persian Gulf sold for about $800,000. Four years later that apartment would fetch $1 million. Today, the same apartment at the Burj Khalifa goes for less than $550,000, according to brokers."

"Dubai’s property prices have fallen by around 25% on average since hitting a peak in 2015, according to global property firm Jones Lang LaSalle. Lower oil prices, weaker currencies in nearby countries, and Middle East political turmoil have all undercut property prices."

"So has a glut of high-end housing, part of Dubai’s 'Build and they will come' approach to development. 'The only reason the market hasn’t bottomed out is simply that there is so much new supply coming on the market,' said Craig Plumb, head of research for Middle East and North Africa at JLL."

The Globe and Mail in Canada. "When the newlywed couple that purchased the Coquitlam, B.C. unit walked through the door, they knew they wanted it, buyer’s agent Adam Senuik said. But their pre-approved mortgage was only $515,000. Mr. Senuik knew the condo had been on the market for two months at that time and had been reduced from $618,000. After three counter offers, the couple went back to the mortgage broker and came up with pre-approval of $525,000."

"Prices started dropping in the fall of 2018, Mr. Senuik says. 'Vancouver’s property buyers are winning in a shifted market,' he says. 'We have seen a lot of listings on the market much longer than the year previous.' In 2017, he’d see multiple offers drive the closing price above the asking price. It’s a different market today."

From Domain News in Australia. "The number of new home loans approved last year plunged almost 20 per cent, signalling further price falls and cheaper houses, according to economists. ABS chief economist Bruce Hockman said: 'The slowdown in lending for investor dwellings this month continues the steady decline over the past two years, with the value of new investor loan commitments down around 40 per cent from the peak at the start of 2017.'"

"'The slowdown in lending for owner-occupier dwellings is more recent, with falls concentrated in the last half of 2018,' he said."

"AMP Capital chief economist Shane Oliver said both supply and demand contributed to the overall decline in home lending last year. 'The banks have made it harder to get a loan but there’s also less demand for loans. A lot of that weakness is concentrated in investors,' Dr. Oliver said. 'They’ve lost a bit of interest with the expectation prices are still falling.'"

"The decline in home lending was inevitable, said Dr Oliver. 'The boom time is coming to an end. Conditions are ultimately getting easier for first-home buyers, which makes it easier to get into the market,' he said. 'They’re the winners in this. The losers are people who might have got a mortgage a couple of years ago and are seeing less demand and falling prices and wondering whether they should have waited.'"

"'We had a boom in property prices and boom in debt levels. Now we’re falling back to earth, which is probably a good thing and will ultimately mean sustainable house prices and sustainable debt levels,' Oliver said." .