A report from USA Today. "The housing market has been booming during the COVID-19 crisis, but America’s cities are taking it on the chin. Big cities like New York and San Francisco, in particular, are struggling with falling prices. 'Since the crisis began, however, Redfin is handling about 600 sales a month in Manhattan, down from about 1,100 pre-pandemic, and prices have been reduced an average of about 10%, says Martin Freiman, a Redfin broker. 'Everybody just left the city en masse,' he says. 'People just stopped buying homes…You have an open house and no one shows up.'"

The Boston Herald in Massachusetts. "Landlords are calling on the government to ante up cash for missed rent payments amid the pandemic, saying eviction ban laws with scant help for property owners will do little to stave off foreclosures as their bills keep piling up. 'Sadly, no one cares,' said Doug Quattrochi, executive director for Mass Landlords, which primarily represents small, independent property owners. 'There’s not a lot of interest really in avoiding the tidal wave of evictions. Landlords are going out of business and selling to corporate developers.'"

"For property owner Leo Sheehan of Falmouth, it means he’s out $5,600. Sheehan — who was preparing to sell the New Bedford condominium he’s rented for the better part of a decade — served his often-late-on-rent tenant an eviction notice two weeks before the coronavirus pandemic hit. He said he tried to work with the long-term tenant, but once the state’s eviction moratorium was announced in April, his tenant stopped answering his calls."

"'I understood the need for the moratorium on the evictions, but (the governor) has to think about the landlords who are getting screwed over. People are laughing at us,' Sheehan said."

The New York Times on Florida. "If rising seas cause America’s coastal housing market to dive — or, as many economists warn, when — the beginning might look a little like what’s happening in the tiny town of Bal Harbour, a glittering community on the northernmost tip of Miami Beach. With single-family homes selling for an average of $3.6 million, Bal Harbour epitomizes high-end Florida waterfront property. But around 2013, something started to change: The annual number of homes sales began to drop — tumbling by half by 2018 — a sign that fewer people wanted to buy."

"Prices eventually followed, falling 7.6 percent from 2016 to 2020, according to Zillow. All across Florida’s low-lying areas, it’s a similar story, according to research published Monday. The authors argue that not only is climate change eroding one of the most vibrant real estate markets in the country, it has quietly been doing so for nearly a decade."

"'The downturn started in 2013, and no one noticed,' said Benjamin Keys, the paper’s lead author and a professor of real estate and finance at the University of Pennsylvania’s Wharton School. 'It means that coastal housing is in more distress than we thought.'"

"The market decline detected by Dr. Keys and Mr. Mulder appeared to be furthest along in the cycle in Miami-Dade County. There, prices in the most exposed towns aren’t just growing more slowly than in safer areas, they’re already falling. Since 2016, prices have fallen by 13 percent in Key Biscayne, and 9 percent in Sunny Isles Beach."

"Gabriel Groisman, the mayor of Bal Harbour, said the downturn in his city was caused by tighter federal rules that made it harder for wealthy foreign buyers to move money into the United States, as well as an uptick in new condominiums that pushed down prices. Climate change wasn’t the problem, he said, at least not in his town. 'I don’t see that being a consideration,' he said."

The Biz Journal on Hawaii. "Home prices in Hawaii rose in most places in August, but those gains are expected to slow as the drag on the state’s economy caused by the Covid-19 pandemic creates a higher supply of homes for sale and weaker demand, according to the University of Hawaii Economic Research Organization’s latest state forecast. UHERO’s forecast said Hawaii’s economy won’t see any 'meaningful' recovery until the middle of next year under its baseline forecast and noted that the decline in the economy, high unemployment and people moving out of state 'will offset the demand generated by low interest rates.'"

"UHERO’s Carl Bonham noted that the mix of homes on the market is going to change, with the inventory of homes and condominiums growing at the bottom portion of the market. Hawaii has one of the worst rates for mortgages being paid on time, Bonham noted."

"While some of those homeowners will restructure their loans, others’ homes will end up going on the market for sale or lost to foreclosure 'but we also have a very high share of households that aren't paying rent,' Bonham said. 'So there's a whole series of factors that are conspiring to drive inventory up,' he said. 'And it's predominantly at the low end.'"

"The City and County of Honolulu’s crackdown on illegal vacation rentals will also influence home prices and rents, he said. 'So you're going to see downward pressure on rents, and there's a connection between rents and prices,' Bonham said. 'And there’s a connection between prices across the entire distribution.'"