A report from Post Media on Canada. "April can be one of the better months of spring, but April 2020 will be most remembered as the month of the fall. To put it mildly, the month was not a good one for resale housing markets across Canada, says the Canadian Real Estate Association. 'I still believe that there’s a balance that’s been found in Calgary and Edmonton and the Alberta market in general. Look back to February and volumes were up 11 percent year over year in Calgary. It was the right trend, showing that the market had absorbed the excess condominium stock; that the new normal had sort of settled in. Then you get a further plunge in the value of oil and the pandemic hitting at once and you think ‘this is going from bad to worse,’ said Phil Soper, CEO of Royal LePage."

The Calgary Herald in Canada. "One of the roles of industry watchdog, Canada Mortgage and Housing Corp., is to track new home starts and monitor inventory in the housing market. Senior analyst Heather Bowyer says there’s an oversupply of completed and unabsorbed (unsold) housing units in the Calgary area, which is an indicator of overbuilding. 'There were 2,026 in April 2019 to 2,346 April 2020, so we’re up a little bit from last year but nothing too crazy,' she says, noting most of the oversupply is in the apartment condo sector."

"This has contributed to buyers’ market conditions in the resale sector, which also applies to new construction. Buyers have more bargaining power in negotiating a price. 'When we see elevated inventories, the prices come down to create some new demand,' Bowyer says."

The Guardian on Australia. "Retirees who have lived off a steady stream of share dividends have seen their income plunge as banks cancel payouts, and they face more financial pain in coming months when research shows more companies are likely to slash their distributions because of the coronavirus crisis. The Australian Prudential Regulation Authority has also called on insurers and other institutions it regulates to cut or defer dividends. Wayne Strandquist, the president of Air, said retirees who invested in commercial or residential property were also taking a hit due to tumbling rents."

"'They’re struggling to find a reliable source of income,' he said. 'They might have a lot of assets on paper but they’re not making anything.'"

From Nine News in Australia. "It was supposed to be a sea-change for Melbourne woman Beverley Johnson - a stylish home with bay-views in McCrae on Victoria's Mornington Peninsula. Residential construction company Archiblox had promised to deliver the modular build in four months. But it's been four years and Archiblox has gone bust, leaving Ms Johnson out of pocket and without her dream home. 'Our lives have just been in complete limbo,' she told 9News. 'We've paid $800,000 for not a lot.'"

"Families who'd bought into a Williamstown townhouse development by Bayland Property Group have similar horror stories. Jane Wall was hoping to spend her twilight years in the home. 'I was supposed to be retired but I've got to kiss that goodbye because I need to pay rent somehow,' Ms Wall told 9News. Bayland has since gone under and many families at the development have faced years of delays and financial strain."

"Young parents Jamie and Carolina Bowes say they made a 'fatal mistake' when they were 'pressured' into purchasing a lot from Bayland in 2018. 'It was pretty much 'you need to sign the contract now',' Mr Bowes told 9News. 'Our rental costs, including what we pay here on the interest, we're paying around $6000 a month, which over 18 months will be over $100,000.'"

The Herald Sun in Australia. "Savvy Melbourne househunters are making the most of 'buyer’s market' conditions by negotiating discounts worth tens of thousands of dollars across the city. Some vendors are even agreeing to slash asking prices by multimillion-dollar sums — and experts say more bargains could be on offer if the coronavirus crisis drags on. New realestate.com.au figures show house sellers who were prepared to negotiate in Doveton, in Melbourne’s outer southeast, shaved a median 5.22 per cent from their asking prices this year. This equated to an average $22,000 discount."

"Realestate.com.au also found 58 per cent of Portsea house sales this year had been discounted by a median $100,000. Almost 53 per cent of houses transacted in Melton South also sold below their asking prices, along with 43.86 per cent in Gisborne and 43.75 per cent in South Melbourne. A whopping 68.33 per cent of Carlton unit sales were discounted by an average $10,000."

"A Chirnside Park mansion sold for a heavily discounted $2.55 million in January. The opulent home hit the market asking $5-$5.5 million about a year prior, along with two adjoining empty lots that were later listed separately. Several Melbourne mansions are still awaiting buyers after major reductions, including 1 Bay St, Brighton (price slashed from $27-$29 million to $22 million), 1750 Westernport Rd, Heath Hill (from $13.8-$15.18 million to $11-$12 million), 23 Bambra Rd, Caulfield North (from $11-$12 million to $9-$9.9 million)."

"Advantage Property Consulting director Frank Valentic said the research showed affluent, 'mortgage belt,' holiday and inner-city unit markets were most susceptible to discounting. 'In these times, vendors are going to be more motivated (so) there are opportunities out there for buyers,' he said."

The Hong Kong Standard. "Hong Kong homebuyers are backing out of deals amid fears of a price slump sparked by Beijing's introduction of the new national security law in the city. K. Wah International (0173) recorded nine cases of forfeited deposits at Solaria in Tai Po totaling around HK$11.83 million. The nine flats measure between 325 square feet and 597 sq ft and are offered at HK$6.28-10.92 million."

"Meanwhile, a prospective homebuyer forfeited a deposit of about HK$380,000 after calling off the purchase of a 327-sq-ft flat at The Vertex in Cheung Sha Wan, which was offered at HK$7.69 million, and another buyer gave up a deposit of about HK$460,000 after canceling the purchase of a 484-sq-ft flat at Seaside Sonata in Sham Shui Po which was priced at HK$9.13 million."