It's Friday desk clearing time for this blogger. "Channing Tatum and Jenna Dewan have finally listed their Beverly Hills marital home for $6 million, setting themselves up to face a monetary loss. The former couple initially purchased the home back in 2015 for the same price they are now asking. Taking into consideration six years of carrying costs, realtor commissions and renovation fees, that means they will not see a profit."

"Axonic Properties bought more than half of the condos at Breezes at Palm-Aire in Pompano Beach for $25.4 million. New York-based Axonic, an owner-operator and manager of residential properties, bought 153 units at the 288-unit property from three groups, according to a news release. Axonic plans to rent out the condos. The purchase breaks down to $166,000 per unit. This is at least Axonic’s second South Florida fractured condo purchase this year. In January, it bought 170 units at a 310-unit complex in Doral for $37.3 million."

"In other recent fractured condo deals, a partnership between KAR Properties and Fortune International Group last week bought 81 units of the 780-unit Reach and Rise condo towers at Brickell City Centre in Miami, with plans to resell the units. And in March, Corinthian Real Estate bought 39 of the 44 units at Eden House in Hollywood for $5.8 million."

"'The landlord is just being asked too much at this point,' said Jaime Michelle Cain, a Buffalo area real estate attorney. 'As a lawyer who practices, I see more contracts for sale coming across my desk for multifamily than ever before. These landlords are needing to make money from the rent to support the foundation of this housing industry.'"

"New York State Senate Minority Leader Robert Ortt said it is doing more harm than good. 'You’re going to have tenants potentially walking away never paying rent that is owed. You’re going to have landlords left holding the bag. They may walk away or file bankruptcy.'"

"BMO Financial Group says recent changes to mortgage stress test rules and the cooling of prices and sales in some regions may moderate the country’s housing market. The change is aimed at taking the heat off real estate markets like Toronto and Vancouver, where bidding wars, soaring prices and a flurry of sales were the norm during the COVID-19 pandemic. While real estate boards in hot markets have reported sales are slowing and prices are coming down, many prospective homebuyers remain priced out of popular markets."

"BMO is already preparing for what might happen with the new test, BMO’s chief risk officer said. 'We’re routing more mortgages to manual adjudication particularly where…we’ve seen rapid house price appreciation, just to make sure that we’re comfortable,' Patrick Cronin said."

"With house prices up 24 per cent in a year and nearly a third of all mortgage debt now carried by highly-leveraged buyers who took out loans in the last two years, key players are concerned any interest rate rises could damage the housing market and have flow-on effects to the whole economy. ANZ non-executive director John Key told Stuff the one thing saving some mortgage holders were record-low interest rates, and if they rose to combat inflation recent buyers may struggle to afford repayments."

"Property Investors Federation president Andrew King sums up his concerns like this: 'You can get a fixed rate for 2.5 or 3 per cent. If say you have a 2.5 per cent rate at the moment, if they go up to 3 per cent, that’s a 20 per cent increase in your costs. So tiny margins now have a huge effect.'"

"The Reserve Bank has its own estimate for this situation: for a typical recent buyer an increase in the one-year mortgage rate to 5 per cent would increase the proportion of that buyer’s income required to service debt from 30 per cent to over 40 per cent. The Reserve Bank states increases in mortgage payments could cost the economy, as highly indebted households reduce their consumption and distressed borrowers could default on their loans."

"'The Reserve Bank has reinstated LVR restrictions to reduce the risk that large declines in house prices amplify a wider economic downturn,' The Reserve Bank’s FSR states. The prospect of negative equity – which could occur if a home sold for less than an owner bought it for – was limited 'unless a house price decline is very severe,' the report states."

"In March, ANZ chief economist Sharon Zollner warned mortgage lending had 'gone bananas,' and a 1 per cent rise in mortgage rates would slash 5 per cent off the disposable income of Aucklanders. When asked what level interest rates could rise by before they became damaging to the housing market, King answered: 'Not much, actually.' And the Reserve Bank may not have the option to keep interest rates so low, he said. 'If the consequences of rampant inflation are greater than the consequences of house prices going down – they will do it.'"

"The end of a $200 billion emergency Reserve Bank funding scheme put in place to mitigate the impact of the coronavirus crisis is expected to lift fixed mortgage rates from ultra low levels and dampen soaring demand for housing. The country’s banks have about six weeks to draw down on $90 billion in cheap credit being provided under a central bank program that was designed to soften the blow from the coronavirus pandemic. The end of the program comes amid a broader economy recovery and surging real estate prices that have sparked concerns the property market is overheating."

"Credit market expert Phil Bayley, principal of ADCM services, estimated that if banks were instead raising three-year funding on the domestic market, they would need to pay about 0.25 percentage points over the 90-day bank bill rate of 0.04 per cent. 'It may not look like much but it would be an effective tripling of the current cost,' Dr Bayley said. 'I think we can expect to see mortgage rates moving up gradually after the 30th of June.'"

"Evans and Partners analyst Matthew Wilson said the RBA’s term funding facility had contributed to the proportion of new loans that were on fixed rates more than doubling to about 35 per cent of all new mortgages. Mr Wilson said that once the scheme ends next month, banks would remove their cheapest fixed-rate deals from the market. Mr Wilson said the average home loan had surged from $366,000 in 2010 to $575,000 today. This jump in household indebtedness meant any eventual increases in the cash rate would need to be very gradual, potentially even by 0.125 percentage point increments. 'If the cash rate goes to 100 basis points, you could start to see some real pain,' he said."

"Imagine setting out to build your dream home or renovate your existing one knowing you were getting a financial leg up from the Government - only for it to be taken from you. That's exactly what's happened to a growing number of HomeBuilder applicants who say a problem with the online portal is to blame for them missing out on a grant of up to $25,000. 'As a young dad really struggling to get into the property market, it feels like I've had a kick in the gut,' said Jack Hage."

"'We've made this whole plan and now it feels like we are in a sinking ship,' said Daniele Fitzsimons. They're the heartbroken Aussie families, couples and young singles who fear their dream of owning a new home or renovating an existing one could be in tatters. 'I was shattered because I knew I had done everything right,' said Clint Calman."

"The State and Federal Governments HomeBuilder scheme was designed not only to provide cash grants to people to renovate their properties or build new homes but also help stimulate activity in the building and construction sector in the midst of the COVID-19 pandemic. Now almost 12 months on, many who applied and thought they were eligible for the one-off $25,000 payment have missed out."

"Danielle Fitzsimons and her fiancé Samuel Ross are expecting their first baby and made the decision to renovate their home in Sydney's Western Suburbs. 'We were relying on that money to finish it off,' said Mr Ross. 'We don't know what we were supposed to do from here. If it's not resolved, there's going to be a lot of people out there that are going to struggle financially,' Miss Fitzsimons told A Current Affair."

"Jack Hage is a Melbourne IT worker who recently bought his first block of land for his young family. He says the $25,000 grant was a huge incentive and played a big part in the decision process of buying the new block of land to build on. 'People talk about having this gigantic knot in your stomach, and there could be no truer words spoken, I was in shock. I just continuously thinking I've just lost 25 grand,' Mr Hage told A Current Affair."

"Mr Hage complained to Victoria's State Revenue Office which said there was nothing it could do. 'The answers from the State Revenue Office, they felt rehearsed. They felt like I was the 50th person that morning,' he said."