A report from the Wall Street Journal. "The housing market sputtered in September as a lack of homes for sale and high prices disrupted what was shaping up as a rebound in the second half of the year. 'You can sit there and go, ‘Oh my god, look how low mortgage rates are.’ said Tom Lawler, founder of Lawler Economic and Housing Consulting. But then you go, 'Look how high home prices are.'"

From Wharton. "By this year end, U.S. home prices are likely to be 4% lower than what they could have been without the tax changes that took effect in 2018, according to Moody’s Analytics chief economist Mark Zandi. Of the estimated home-price damage to about 3,000 counties throughout the country, the biggest estimated value loss was in Essex County, NJ (11.3%), followed by Westchester County, NY, suburban New York City (11.1%); and Union County, NJ (11%), according to the ProPublica report."

"'The regions that are taking a bigger hit than others are those that are export-intensive, said Wharton's Susan Wachter . 'For the first time, we’re seeing population declines in large markets like the New York City Metro area, Washington, D.C., and Los Angeles, which are also hit by trade declines, especially in service industries,' she added."

"'The tax law effects have knocked the wind out of the Bay Area housing market, which is the poster child,' said Zandi. 'House prices over the last year or two since the tax law change have weakened considerably, and have been declining more recently.' Added Wachter: 'Prices are coming down, and in New York City and San Francisco, for some, they are for the first time affordable.'"

The Boston Herald in Massachusetts. "Airbnb co-founder Nathan Blecharczyk dodged questions after making a $1 million donation to Boston Latin Academy on Monday at a time when his industry is facing strict regulations in the city that could affect his company’s bottom line. Federal Housing Finance Agency director Mark Calabria said Boston’s short-term regulations could have consequences for the housing market."

"Calabria said large numbers of investor-owned properties — like the ones Boston’s regulations are trying to eradicate — could be a warning sign that a downturn in the housing market could be coming. The number of investors in the housing market has reached 'pre-crisis' levels and is one of several 'red flags' to regulatory agencies that the markets could start to slow."

From AM New York. "As the push for rent law reforms enters its final stretch this week, mom-and-pop landlords worry that new laws could put them out of business. 'A lot of the more mom-and-pop type, I would say, responsible owners, they’re the ones that are now going to have to sell,' said John Brennan, a broker who sells rent-stabilized apartments in the city for Marcus & Millichap."

From Crain's Chicago Business in Illinois. "Chicago’s real estate market has been weak all year, and Lakeview has softened more than most North Side neighborhoods. 'It’s as slow in Lakeview as I’ve ever seen it,' said Eudice Fogel, a Compass agent who’s been in the Chicago real estate business since the early 1980s."

"'People worried about the state of the state has put a huge damper on pricing,' said Carrie McCormick, an @properties agent. Both McCormick and Fogel said sellers’ price expectations are also playing a role. People who bought during those optimistic years after the recession and are now ready to sell may expect to reap a healthy profit, 'but that’s not where the market is now,' Fogel said."

"'They’ll wait,' she said. 'They’re not in a hurry,' in part because they got burned or saw others get burned in the mid-2000s downturn and 'they don’t want to get stuck in something they paid too much for.'"

From Nevada Public Radio. "Vivek Sah, with the Lied Institute for Real Estate Studies at UNLV, said there are going to be neighborhoods, particularly newer neighborhoods with more new homes being built, that will see a fall in prices. He said the price of new construction is overpriced in Las Vegas."

"'The pricing on those new constructions is way, way ahead, way, way more than - from the affordability perspective, from the income perspective - than resale,' he said."

From WSJM in Michigan. "The red-hot housing market in southwest Michigan is showing signs of cooling down. Sales of existing homes in September were down by 12% from August and off by 3% compared to a year ago. The amount of bank-owned or foreclosed homes as a percentage of all sales rose from 3% in August to 4% in September, which is the same percentage as it was last year."

From WHIO in Ohio. "'It has not slowed down, that’s the thing. It’s been interesting,' said Jan Leverett, president of Dayton Realtors. 'It’s just a good solid market. The panic and the frenzy has stopped and that’s a good thing because people are then thinking about what they’re doing and there’s not buyer’s remorse.'"

"During the peak of the summer home sales, houses were selling within hours of being listed, Leverett said. Homes are still selling fast, but it’s taking more like five to seven days. 'There’s still a shortage of inventory. It’s still pretty much a seller’s market. It’s a fantastic time to sell, the best it’s been in a long time,' said area real estate agent Herman Castro. 'The market hasn’t started to slow down yet, it’s just starting to come back to where it has been, where it should be.'"

The Los Angeles Times in California. "Actress Rachel Bloom and her husband, writer-producer Dan Gregor, have filed a lawsuit against various corporate entities allegedly tied to former USC football players Matt Leinart and Brandon Hance, accusing the shell companies of operating a fraudulent home-flipping operation."

"Bloom Gregor alleged in the lawsuit filed in L.A. County Superior Court on Monday that they are among those duped by real estate investor Raul Menjivar. Bloom and Gregor purchased their home in Central L.A. from Menjivar’s company, the Run Group, in 2015 for $1.275 million, records show. In 2018, the couple discovered defects after investigating a number of leaking windows, according to the complaint, including 'severe rot' that had been concealed with new drywall as well as a load-bearing wall that had become 'completely compromised' as a result of the Run Group’s work, according to the lawsuit."

"Bloom and Gregor attempted to mediate the dispute before seeking litigation, the lawsuit said. They are seeking compensatory damages of $500,000 or more, plus punitive damages."

From ABC 13 in Texas. "A group of patio homes that are in danger of falling down has neighbors worried, and city officials taking a closer look. The property is in the middle of Houston's thriving Montrose neighborhood, yet the top floors of the three-story homes have caved in. Sam Bethancourt, who lives next door, says the property has gotten worse with each passing hurricane season."

"The Bethancourts have communicated extensively with the owner of the property Alan Paull. Each time, they have promised that reconstruction will start soon. The Paulls' company, Paull and Partners, is represented by attorney Miles Cohn."

"Cohn explained in an email the situation regarding the property: 'The builder filed a lawsuit that held up foreclosure on this and a number of other properties for almost two years, without protecting or completing a number of homes. Due to the injunction, Paull & Partners was not allowed to foreclose, to take possession or do anything else with respect to the properties at issue in the lawsuit.' In addition, a search of public records show Paull & Partners as owners of dozens of properties, and are defendants in several ongoing lawsuits."

From Market Watch. "A side comment made by a regulator during a congressional hearing uesday shows how little is settled when it comes to the fates of the two companies that underpin much of the housing finance market in the United States. 'If the circumstances present itself to where we have to wipe out the shareholders, we will,' Federal Housing Finance Agency director Mark Calabria said during a hearing before the House Financial Service Committee, referring to Fannie Mae and Freddie Mac’s shareholders."

"The remark came in an exchange with Rep. Bill Foster, a Democrat from Illinois, who suggested that the plan to recapitalize Fannie Mae and Freddie Mac was benefiting shareholders rather than U.S. taxpayers. 'I agree completely that we should have and we should still wipe out these shareholders,' Foster responded."

"Calabria frequently noted that Fannie and Freddie were operating at leverage ratios of 500 to 1, while most major banks are only allowed to maintain leverage ratios of 10 to 1. 'Even if every single loan Fannie and Freddie made were pristine, they would still fail at that level of leverage' in the event of a downturn, Calabria said."