A report from the Palm Beach Post in Florida. "South Florida is the nation’s capital of mortgage fraud, CoreLogic says. The metro area of Miami-Dade, Broward and Palm Beach counties had the highest levels of home-loan chicanery in the nation during the second quarter of 2019. The New York metro area ranked second nationally, followed by McAllen, Texas, in third, Los Angeles in fourth and Daytona Beach in fifth."

"'Florida is known for lengthy foreclosure times, so the window of time for distress-motivated fraud is longer than in most other states,' said Bridget Berg, principal of Fraud Solutions Strategy for CoreLogic. 'This also delays the beginning of credit recovery for the consumer, which may spur more fraud related to hiding past derogatory credit to qualify for a home in the future.'"

"South Florida borrowers fudge their loan applications to boost income levels and hide other real estate debt, Berg said. That’s similar to the types of fraud taking place in other parts of the U.S., she said — but it occurs 'at a much higher rate' in South Florida."

The Post and Courier in South Carolina. "Falling interest rates and an expanding economy failed to boost home sales across the Charleston region in August as a lack of product and rising prices kept buyers on the sidelines. Housing industry officials put the blame squarely on local government policies that have held back new construction, throwing supply and demand out of whack."

"Also figuring into the mix is a reluctance by developers to overbuild and get stuck with homes they can’t sell, which happened during the last downturn."

The Lansing State Journal in Michigan. "Statistics provided by the Greater Lansing Association of REALTORS® paint a picture of different market in August than we have seen throughout the last few months. In July 2019, 629 units were sold. There was a decrease to 594 units in August 2019. At a 5.6 percent decrease, it is not enough to cause alarm, but it is noticeable. Maybe more telling is the fact that in August 2018 683 homes were sold. That equates to a 13 percent drop in a year. Inventory has been steadily rising since March 2019."

"Could these statistics indicate a shift to a buyers market is coming? Stay tuned."

From Bisnow on New York. "The developer responsible for kicking off Billionaires' Row in New York City is facing a whole new reality with his latest high-end condominium offering. Gary Barnett's Central Park Tower topped out in August, and the chairman of Extell Development said he has been forced to offer discounts at the supertall, which is the Western Hemisphere's tallest residential building. 'The slowdown people talk about in New York City is not demand driven,' he said. 'It’s supply driven.'"

The Sacramento Bee in California. "CoreLogic data show the Bay Area real estate market in particular has faltered this summer. Median sales prices declined in July for the third month in a row, and the Bay Area saw 12 straight months of declines in the number of homes bought and sold. Mark Hamrick, a nationally-known economist for Bankrate.com, says that buying or selling a home should be based on a person or family’s individual needs at the moment."

"'We have a saying: ‘People don’t get married when wedding dresses go on sale,' he said. 'People need to be prudent with their finances. That includes don’t overextending oneself in buying a home, but also not to panic.'"

"With recession fears mounting, should home buyers and sellers in California’s capital region hurry up and make deals now, or hunker down and wait out the tempest? 'It’s hard to think the housing market is going to be swayed much if it’s a quick recession,' writes Ryan Lundquist, a Sacramento real estate analyst. 'But if buyers and sellers end up struggling financially and losing jobs, we can expect a greater effect on home prices.'"

From The Tribune in California. "For many San Luis Obispo County residents, the prospect of buying a home can seem like an unaffordable and out-of-reach fantasy. Even so, homebuyers find a way to own a slice of Central Coast paradise. Some save up, others get help from family and still others use loan programs to make the numbers add up."

"When Wendy Greene bought her Los Osos home in 2017, she was tired of renting and wanted a place to call her own. Greene used funds from her 401(k) account and money from her mother to purchase a $458,000, 1,368-square-foot house with a mortgage that was close to what she was already paying for a San Luis Obispo rental. 'I didn’t want to keep throwing money away on rent,' she said."

"But then she found out about the supplemental property taxes she would have to pay to help fund the community’s recently constructed Los Osos Wastewater Project. Greene quickly refinanced her mortgage, but still ended up owing hundreds more per month than she anticipated. She now spends a large portion of her take-home pay on her housing. 'I think I just rushed into the house a little sooner,' she said."

"Greene, who works as an environmental compliance director for an energy company, is considering taking a supplemental job or renting out a room to help with her housing costs. 'I love owning here, but I’m not sure it’s going to be sustainable,' she said."

From Consumer Affairs. "Home prices in major U.S. housing markets have risen so much that one market barometer says it could signal potential distress in the overall housing market. According to the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, compiled jointly by Florida Atlantic University (FAU) and Florida International University (FIU), 19 of the 23 measured markets are showing the price of housing as well above their long-term pricing trends."

"But the latest index shows the higher prices have led to a decrease in demand for homeownership that now makes renting more attractive in terms of building wealth. 'This is quite worrisome,' said Eli Beracha, real estate economist at FIU. 'However, the trend towards lower BH&J scores is a good sign that the nation's housing markets are pulling back from the edge of potential disaster.'"

"The creators of the BH&J Index say all indicators suggest the current housing cycle is about to end, and they see the housing market going one of two ways. 'Housing markets will either soon experience a slow reversion to a long-term pricing trend or experience a rapid fall in prices below this same trend with a slow reversion,' said Ken H. Johnson, a real estate economist at FAU. 'We hope for the former and fear the latter.'"