A report from the Dallas Morning News in Texas. "At this stage of the economic cycle, it’s natural to wonder about a recession or a housing bubble. But take some comfort in the latest results from D.R. Horton, the nation’s largest homebuilder. Horton is on pace to close almost 57,000 homes this fiscal year, finally topping its previous peak in 2006, just before the housing crash."

"In the quarter ended in June, Horton closed almost 11,000 homes — over two-thirds of its total — for $300,000 or less. For the same period four years ago, Horton had about 6,700 closings below that price. In the June quarter, the average selling price for an Express unit was $242,000; for a Freedom home, the average was $281,000. Those are far lower than the overall averages offered by rivals."

"Horton’s average selling price is 20% lower than KB Home, over 30% lower than Pulte and almost two-thirds lower than Toll Brothers. 'It’s all about price,” said Paige Shipp, Dallas-Fort Worth regional director for Metrostudy."

"Horton has a deep supply of land — 300,000 lots either owned or controlled. And it operates in 87 markets in 29 states. Shipp was 'pleasantly surprised' by Horton's results, given the industry's long run. But she’s not concerned about a repeat of the mid-2000s, when the housing bubble led to an industry crash and a recession. 'This cycle is very different than the last one, and the No. 1 reason is the supply,' she said."

The Times Free Press in Tennessee. "With a surge in new apartments, Chattanooga added nearly 34% more housing units than it did jobs over the past decade, raising concerns by a housing economist of a potential oversupply in the market. 'From 2008-2018, the Chattanooga metro area issued permits for an annual average of 3.5 (more housing) units per 1,000 residents and added an average of 2.5 more jobs per 1,000 residents. This places Chattanooga in the range of having an oversupply of new construction,' said Chris Salviati, a housing economist for Apartment List."

"Chattanooga's biggest change in the housing stock has come in apartments, including the addition of 3,223 apartment units and 1,917 beds for students at the University of Tennessee at Chattanooga in and around downtown since 2015 and hundreds of more apartment units still under construction."

"John Wise one of the biggest downtown apartment developers, said Chattanooga's rental market has plenty of inventory right now 'and the party is over' for developers cashing in on the appeal of downtown housing, at least for the immediate future."

From Inforum on North Dakota. "Less than six years ago, finding an apartment in the Fargo-Moorhead area wasn’t as easy, according to numbers from Fargo-based Appraisal Services Inc. Apartment vacancy rates in Fargo bottomed out in 2013 at 2.2%. Moorhead hit a 10-year low of 3.2% in June 2014."

"Those rates helped trigger an apartment construction boom, but some wonder if developers overbuilt. Last fall, vacancy rates hit double digits in Fargo, and applying for permits to build new apartments has all but halted. 'They probably built more than were needed in a relatively short period of time,' James Gilmour, Fargo director of strategic planning and research, said of developers."

"Low borrowing rates also played a roll in developers deciding to build more apartments, said Petter Eriksmoen, director of operations at Appraisal Services. 'Because everybody built, the market was overbuilt,' he said. 'And that’s just exactly what you would expect.'"

The Desert Sun in California. "The Orchard’s short-term rental dispute has placed it at the center of a legal battle now headed for the California Supreme Court. Since 2017, The Orchard’s HOA has sparred in court with a group of homeowners who oppose short-term rental restrictions, first in Riverside Superior Court, then in an appeals court and now at the highest court in the state."

"In March 2017, it granted the HOA’s petition, approving the amendment. The decision surprised Spencer Wampole, who owns and manages three rentals in The Orchard. 'It felt like, ‘This can’t be right,' said Wampole, the president of Travlr Vacation Homes, a local short-term rental management company. 'It’s really not just about short-term rentals … One of the most important rights in property is your ability to rent.'"

The International Business Times on California. "Tesla CEO Elon Musk’s V-Shaped LA mansion is on sale, reportedly dropping its price from $4.5 Million to $4.2 Million. Why was the price dropped? The price of Musk’s mansion was reportedly a bit high, hence, Hilton & Hyde, real estate agency, could not secure a buyer."

The Village Idiot on New York. "Get your checkbooks out — it’s bargain time. The average price of a Manhattan apartment has dropped from $1.2 million to $1.1 million. And at those prices, we’re talking about real luxury: a 500-square-foot studio on the fifth floor, with a view of the service entrance of the 30-story building next door, which blocks out all the sunlight except between 11:50 a.m. and noon."

"It’s in a so-so neighborhood that Uber drivers charge you extra to go to, and has a laundry room in the basement. It has an eat-in kitchen, if ou eat standing up, and a bedroom with room for a queen-sized bed and absolutely nothing else."

"I don’t know what kind of money you have to make to live in one of these expensive hives, but that’s OK — once you make it on Broadway or Wall Street, you’ll be able to trade up to a $2.2 million one-bedroom in Chelsea with a view of an air shaft!"

"I looked up my old Manhattan ZIP code on Zillow to see how much it would cost me to live in the old neighborhood. The first building that came up was listed at $30 million. And here’s the description of a one-bedroom apartment in my old building: '426 sq ft. $1,043,706.'"

"There are stories of entire 20- and 30-story apartment buildings in New York that no one lives in. Oh, the owners, usually from another country, come for a week or two each year, but it is their second or third (or fourth) home. It’s a great place to park their money. If you’re a rich person in an unstable country (or even a stable one), buying a $10 million apartment in the U.S. makes a lot of sense."

"What’s the worst that can happen? The market crashes and suddenly it’s only worth $9.5 million? Poor dear. But in their own country, a rule change or inflation could make them lose everything overnight. That’s the funny thing about money. The rich worry about losing it, while the rest of us worry about getting it."