A report from CNBC on New York. "Manhattan real estate had its worst first quarter since the financial crisis, capping the longest losing streak for sales in over 30 years, according to a new report. The drop stems from an oversupply of high-end apartments, a lack of foreign buyers and the new federal tax law that has hit real estate in high-tax states. The pain is being felt at all levels. While the entry-level market in New York, below $1 million, had been holding up for most of the past year and a half, it has started to suffer as the trouble at the top cascades down."

"'It’s like a layer cake,' said Jonathan Miller, CEO of Miller Samuel. 'When you have softening at the top, it starts to melt into the next layer and the next layer after that, because those buyers further down have to compete on price.'"

"Sellers who still have unrealistic price expectations are the biggest barriers to sales, brokers say. That has led to more listings piling up and sitting on the market for longer periods. There is now a nine-month supply of homes on the market, with inventory up 9 percent. The glut in new development is even worse: The supply of newly built condos jumped 56 percent over last year, to a 19-month supply."

From The Daily Advertiser in Louisiana. "A spacious three-bedroom riverfront home for sale near Interstate 10 in Lafayette has vaulted ceilings, hardwood floors, a landscaped courtyard with a fountain, and plenty of windows. But, after sitting on the market for a month, the seller shaved $5,000 off the $235,000 asking price."

"For years, many Lafayette-area home sellers have similarly endured lengthy waits for buyers, and have had to lower their asking price or offer concessions to move houses. That probably won't change in 2019. 'The elevated number of listings has dragged on price growth and will continue to depress price growth,' said Zillow economic analyst Jeff Tucker. 'Home buyers will remain in the driver's seat for at least several months to come.'"

The San Francisco Business Times in California. "The languishing development of the former KRON TV building at 1001 Van Ness Ave. is back on track after a two-year delay. The San Francisco Business Times reported in late 2016 that a 239-unit condo and retail project in the Cathedral Hill neighborhood had been approved to replace the former television building. Plans called for construction to start in early 2017."

"But that never happened. Now the condo plans have been scrapped. Oryx Partners revamped its proposal late last year to instead build a residential care facility with 247 assisted-living units for seniors and more than 8,200 square feet of retail space. according to SiteSocket."

"Oryx Partners reportedly retooled the plans because the condo project wasn't economically feasible. Many planned housing projects in San Francisco have stalled over the last few years as developers grapple with skyrocketing construction costs."

"The city’s housing production decreased by 42 percent last year, with a net 2,579 new housing units added to the city. That was the smallest gain in housing since 2013, when the city built 1,960 homes. "

From The M Report. "The frequency of defects, fraudulence, and misrepresentation in the information submitted in mortgage loan applications increased by 4.4 percent in February compared with the previous month, according to First American's latest Loan Application Defect Index. Year over year, the index rose 14.5 percent."

"A shift towards purchase loans was a factor that led to a rise in defects, according to Mark Fleming, Chief Economist First American. 'The shift in the mix of loan applications toward more purchase applications and pressure on borrowers likely fed the 2018 increase in income-specific defects,' said Fleming. 'Purchase loan applications typically are more likely to have fraud than refinance transactions. Furthermore, in the strong seller’s market we experienced in 2018, borrowers had more motivation to misrepresent income on a loan application in order to qualify for the bigger mortgage necessary to win the bidding war for a home.'"