A report from Bay City News Service in California. "Bay Area cities have experienced some of the biggest drops in home prices across the country, including Dublin at the top of the list, according to a new study evaluating typical home values from May 2022 to May 2023. Dublin's year-over-year home value dropped by $229,706 (15.37%), to rank No. 1 in the report. The average home value in Dublin still remained at nearly $1.26 million. Pleasanton (seventh, at a 12.11% drop), Livermore (15th; 10.67% drop) and San Ramon (17th; 10.02% drop) also finished in the top-20 of largest declines, according to the report. The report says Palo Alto's homes are 'atypically expensive' for a smaller city. While the cost decreased by 12.82% over the year, the city's typical price in May 2023 was still $3.16 million. Out of the top 10 cities with lower prices, Oakland was the only one with a typical home value under $1 million. Its home prices fell by 12% in the past year to $814,053."

From USA Today. "It just got more difficult to become a homeowner. The typical starter home sold for a record $243,000 in June, up 2.1% from a year earlier and up more than 45% from before the pandemic. However, in three metros including San Francisco, Austin and Phoenix, a homebuyer could get away by earning a little less than the previous year and still afford a home. A homebuyer in San Francisco must earn $241,200 to afford the typical 'starter' home, down 4.5% ($11,300) from a year earlier. Austin buyers must earn $92,000, down 3.3% year over year, and Phoenix buyers must earn $86,100, down about 1%. Those are also the metros where prices of starter homes have declined most, with median sale prices down 13.3% to $910,000 in San Francisco, down 12.2% to $347,300 in Austin, and down 9.7% to $325,000 in Phoenix. Starter-home prices are falling in those three metros after skyrocketing in 2020 and 2021."

The Garden Island. "Sales of single-family homes on Kaua‘i plunged 49 percent in the first six months of the year, marking the largest percentage decrease of the four major Hawaiian Islands. At the same time, the median price of a single-family home eased 8.33 percent to $1,100,000 from $1,200,000. O‘ahu posted a 34.65 percent decrease in single-family home sales to 1,277 in the six months ended June 30, compared with 1,954 in the six months ended June 30, 2022. At the same time, the median sales price dipped 5.51 percent to $1,050,000 from $1,111,211."

The Real Deal. "A subsidiary of New York Community Bank — the largest lender to New York rent-stabilized landlords — recently filed to foreclose on eight properties belonging to two of them. The building owners, including one whose family has held the properties since the late 1990s, fell behind on debt payments to Flagstar Bank between February and May and failed to cure the defaults, leading the lender to bring cases in July, court and property records show. Brokers said they had begun to offload non-performing assets for underwater owners. Sugar Hill Capital, one of the largest multifamily owners in Northern Manhattan, faced a foreclosure filing on a $16 million mortgage in November."

"New York Community Bank recently downplayed an uptick in distress on its balance sheet. In an earnings call last week, CEO Thomas Cangemi said the bank had seen no late payments or delinquencies on multifamily. Landlords on Twitter scoffed at the characterization. 'I’m beginning to think banks spin the truth like brokers in this industry,' CHIP’s Jay Martin wrote. The bank’s quarterly report showed a 154 percent jump in multifamily debt 90 days or more past due since the first quarter."

The Washington Post. "A surge of shootings in D.C. that left 13 people dead in the first five days of August has rattled neighborhoods from Adams Morgan to Anacostia, with each new victim a grim reminder of the city’s failure to contain violent crime. Nothing officials try seems to have much effect — at least in the short term. Council Chairman Phil Mendelson (D) said Sunday that he has asked the new police chief to give lawmakers suggestions on providing 'more resources for the police.' Council member Trayon White Sr. (D-Ward 8), whose district includes the place where three people were fatally shot and two others wounded Saturday night, said in a text message, 'We need the National Guard in D.C. The crime is out of control and getting worse by the day,' White said. 'Kids and innocent people are getting killed. It’s becoming status quo with no end in sight.'"

"Police continued to examine that sprawling shooting scene on Good Hope through Sunday morning, cordoning off the length of three city blocks of shops, apartments and tree-lined homes. At least 30 white circles could be seen marking apparent evidence in the case; a car had a bullet hole in its driver side door. There were packages of Narcan, a nasal spray to reverse opioid overdoses, in the grass. Beneath a wooden awning were remnants of a violent night: a wound seal kit, a bottle of liquor and a pack of cigarettes. People sat on the steps of a church nearby, appearing to inject themselves."

The Canadian Press. "The future of a homeless shelter in the northern Ontario city of Timmins is on the line as many residents blame it for a rise in crime while others, including the mayor, say that ongoing social issues and a lack of resources are the real problem. Timmins Mayor Michelle Boileau said she was the only council member to oppose the resolution because she didn’t want to support the narrative that unhoused people and shelters cause problems."

"Robert Boucher, who lives blocks away from the shelter and owns a few short-term rental properties in the area, said there has been an increase in criminal activity in the neighbourhood, including in his backyard, which is adjacent to a walking trail leading to the shelter. He said area residents have been dealing with more home invasions, theft and assaults, and many of them have been finding human feces and contaminated needles in front of their homes and businesses. 'It’s just been crime non-stop, like, every day it’s something new,' he said. 'It’s just been a total nightmare.'"

ABC News in Australia. "A Ballarat-based residential home builder with 20 full-time staff has entered voluntary administration after nearly 30 years of trading. Bond Homes built transportable homes in its Ballarat yard and had 16 homes under construction, with four of those ready for handover. Part-owner David Rowe said he was devastated. 'I have put my life into the business. I just feel really numb,' he said. 'It is the end of the business, unless someone comes along with a cash injection.'"

"Since 2021, over 2,500 Australian construction companies have gone into administration, liquidation, or receivership. Mr Rowe said Bond Homes' financial decline could be traced back to 2020 when the federal government launched its HomeBuilder Grant. He said the company sold 12 months worth of houses within the first few months, but then material prices rose and labour shortages worsened, leading to low margins and restricted cash flow. 'We are another typical victim within the building industry,' Mr Rowe said. 'If that builders' grant wasn't there, I suspect a lot of builders would have been around today, because they were stuck with a fixed price contract, which they couldn't get out of.'"

Newshub New Zealand. "More than six months on from the Auckland Anniversary floods, some affected residents are reaching their financial breaking point. One homeowner whose central city property was looted after he evacuated has decided to get rid of it, knowing he'll sell it at a loss. The property is located in the upmarket, central suburb of Parnell. But it was inundated during the January weather event - and as if that wasn't difficult enough, it was looted by vandals."

"City Sales real estate agent Scott Dunn is trying to sell it on behalf of the owner, who chose not to be identified. 'If you total what he's had to pay out every week for outgoings, plus the loss of financial gain from his business, we're talking tens of thousands of dollars this owner is in the hole for, already,' Dunn told Newshub. The entire bottom level needed fixing and the owner has lost patience with the drawn-out process. 'The original timeframe for completion was about 10 weeks. I think they're coming up 26 now,' Dunn explained. 'The seller can't wait any longer so he's going to market as is, where is.'"

"And it seems he's not alone. CoreLogic's Q1 Pain and Gain Report shows properties selling at a loss have hit a seven-year high. To make matters worse for the owner, he says during the inspection of flood damage, contractors discovered remedial work done to fix leaky issues was not up to standard, so the property will need its third Code Compliance - another hurdle he's not in a position to wait for. The owner's insurer has paid for his temporary accommodation - but he's lost the income he had when he was renting it out."