A report from KOBI in Oregon. "The ‘Rogue Valley Association of Realtors‘ releasing new numbers regarding housing statistics in Jackson County. It shows the county sold less homes compared to this time last year. It dropped by 36 percent. Numbers from the realtors association also showed the median home price 5.7% from $424,000 at this time in 2022 to now $400,000."

The Lookout in California. "There were 150 single-family home resales across Santa Cruz County in June compared to 123 in May and 143 in June 2022. The median resale price fell 9.5% last month to $1.23 million, compared to $1.36 million in May. Countywide, median prices fell an annualized 5.7% last month to $1.23 million from ust over $1.3 million in June 2022, in part as buyers purchased smaller homes and sales shifted away from expensive markets like Santa Cruz and Scotts Valley to communities such as Watsonville, Boulder Creek and Ben Lomond. Ben Lomond’s median price fell slightly to more than 3% from last June to $895,000. Aptos’ median sale price fell, too, dipping to $1.42 million in June from $1.5 million a year prior as buyers purchased slightly smaller homes than they did last year."

Newsweek on California. "The exodus from San Francisco offices is gathering pace as businesses vacated nearly 2 million square feet of office space in the past three months, adding to the city's problem with vacant buildings. That's more than 35 million square feet of office space that's sitting empty in the city, according to NBC Bay Area, which said more than half of the office space in the Yerba Buena district was empty at the end of June. 'If we look at the city as a whole, you have retail, offices, and residential all supporting each other. Now there's actually a broken network among different linkages of commercial properties,' said San Francisco-based Moody's Analytics economist Lu Chen."

Reuters on New York. "The end of the pandemic has brought little relief to Manhattan's depressed market for workspace, where empty floors remain the norm and by one calculation the values of 45% of the city's office buildings are below their last sale price. The amount of space leased in the second quarter was down almost 50% from a year ago and was a quarter less than the five-year pre-pandemic average, according to brokerage data provided to Reuters. 'There's essentially almost no market for office buildings right now because people don't know where the bottom is,' said Andrew Nelson, a real estate economist who runs Nelson Economics in Washington."

Bisnow Dallas/Fort Worth. "Apartment rents are expected to drop across Texas’ major metros through the balance of 2023 as the delivery of new units runs way ahead of demand. Of the 113 major Texas submarkets analyzed by RealPage, 1 in 5 are experiencing rent cuts. The market has turned most acutely in Austin, where rent growth dipped into the negative in June. The market also has one of the lowest occupancy rates in the country at 93.3%, according to RealPage data. 'Not many markets across the country are sputtering along quite the same way Austin is,' RealPage real estate economist Carl Whitaker said. 'Among major metros, you really only have Phoenix, Vegas and maybe Sacramento that are matching the degree of weakness that is ongoing here in the Texas capital.'"

The Globe and Mail in Canada. "Potential real estate buyers in Toronto and the surrounding areas are taking a languid approach to house hunting as summer sojourns take over. Robin Pope, broker at Pope Real Estate Ltd., says some are hitting pause as they assess the impact of higher interest rates. Competition has eased and those still on the hunt appear to be feeling less pressure. For example, after he listed a hard loft in the city’s west end, one prospective buyer’s agent cancelled a showing about 30 minutes before the scheduled time because afternoon traffic was heavy. Typically, a spacious loft is hard to come by and buyers rush to get inside. 'I was just surprised that she would take the risk when somebody was there waiting to open the door for her,' Mr. Pope says. 'They just don’t feel any urgency.'"

The Telegraph. "Demand for homes is plunging as the mortgage crisis forces buyers out of the market, estate agents have warned. The Bank of England yesterday estimated nearly a million homeowners faced a mortgage shock of around £500 a month if remortgaging before the end of 2026. Neil Foster, of Hadrian Property Partners in Northumberland, said: 'The sales market feels like an oxymoron this month. Deals are few and far between and there is clear caution, particularly amongst buy-to-let investors, with the prospect of a perfect storm to come if the cost of debt continues to rise as prices begin to fall.'"

From Reuters. "For hundreds of thousands of ordinary Swedes, investing in one of their country's biggest landlords SBB was a sure bet for years. Now it is at the epicentre of a property crash that threatens to engulf the Nordic state's economy. On Friday, the heavily-indebted property group will offer investors a glimpse of its finances in its second-quarter results and enthusiasm for the one-time rising star has been displaced by a sense of foreboding. Its shares have lost over 90% of their value since peaking in 2021. Maria De Geer of the Swedish Shareholders Association said the company's shares had once been so popular among Swedes it became known as a stock for the people, snapped up by roughly 300,000 small investors."

"'All those people ... thought they would become millionaires,' she said. 'There are still lots and lots of small shareholders who've had a massive loss as they bought ... at the peak and they are now with something more or less worthless.'"

South China Morning Post. "Hong Kong’s floundering residential property market has not yet bottomed out, and the road to recovery will be long and difficult given headwinds including high interest rates, a glut of unsold new units and a lack of buying power from mainland China, according to JLL. Factors including a volatile stock market, a challenging external economic environment and a decrease in new births and marriages are also affecting housing demand, the real estate company said in its midyear property market report,. 'Hong Kong’s housing market is now having the longest price adjustment since 2008, and the market has not found a bottom,' said Joseph Tsang, chairman at JLL in Hong Kong."

Scoop New Zealand. "Home values decreased at a relatively consistent pace in the Wellington region last month. The average home value in the region is now $825,554, which is 6.7% less than at the start of 2023 and 17.4% less than the same time last year. The largest reductions this calendar year have occurred on the Kapiti Coast (-8.2%) and Porirua (-8.1%) with Hutt City experiencing the smallest (-4.4%). The national average home value is now $891,585, which is 11.8% lower than the same time last year and 5.6% less than at the start of this calendar year."

Daily Mail Australia. "One of the many victims of controversial property development company Toplace has claimed he's been left in financial ruin after the company suddenly collapsed. Its downfall is expected to impact thousands of apartment buyers and contractors across Sydney with several projects currently under construction. One of these is IT manager Patrick Quintal who owns and lives in a unit in the troubled Vicinity Apartments with his wife in Canterbury, in Sydney's west. Mr Quintal bought the apartment in May, 2021 for $600,000 and moved in at the end of July."

"'When I bought I had no idea about any potential issues, most buildings have a couple of rendering problems, but it's nothing that can't be fixed,' he told Daily Mail Australia. 'But in about August of 2021 we got an engineering report that basically referred to the building as a death trap. The best way to explain it is everything that could've gone wrong in terms of construction, went wrong. The flooding reaches my apartment door and I just sit there and hope the rain stops.'"

"'I can't sell the apartment, I can't refinance or get another mortgage, especially given how interest rates are,' Mr Quintal said. 'And the looming threat of having to pay $180,000 per person. It's financial suicide. I can't even move out and rent somewhere, and I'm already struggling to pay the mortgage repayments. The situation is dire. I've seen four separate units that have had to foreclose. There's a unit I can see from where I live that had a sign on it that said the bank has repossessed it. This is going to get much worse for anyone here. I can't get any of this money back, none of it is recoverable. It's an active money sink.'"