A report from New Jersey.com. "Low inventory and the highest interest rates in two decades caused home sales to decline 22% in New Jersey in 2023, according to data from New Jersey Realtors. That follows a 20% decline in home sales in 2022, according to data from the Otteau Group. 'There are a lot of agents making decisions about whether to keep their license active or go into a referral service,' said Beth Kimmick of ERA Central Realty in Cream Ridge. 'It’s expensive to have a license and if you’re not doing business, it can be the world’s most expensive hobby.'"

The Daily Mail. "Former art magazine publisher and collector Louise Blouin will still be millions in debt after her Hamptons compound was auctioned off for $89 million. Blouin, 65, and her second husband acquired the sprawling estate on Gin Lane known as 'La Dune' for $13.5 million in 1998, establishing her reputation as a player in New York society. Last week, she appeared as her own attorney in federal bankruptcy court in Central Islip to oppose the $89 million sales price reached at a January auction, including $10 million in fees, as too low. The sales price falls short of what she owes creditors by $7 million to $15 million, John Isbell, attorney for creditor Bay Point Advisors, told the Wall Street Journal. Isbell said in court that Bay Point would consider suing Blouin as it seeks ways to recoup the unpaid balance of the debt on the properties."

"One of the houses on the property was bundled in foreclosure proceedings due to an unpaid $26 million mortgage that has swelled to $40 million over the last few years. The other home was placed in bankruptcy protection in 2022 to avoid a foreclosure auction stemming from an unpaid $15million mortgage. The former publisher, reportedly in tears after the hours-long auction on Wednesday evening, expressed her hope that the judge would reject the sale so she could refinance or sell the property privately. Judge Alan S. Trust was unimpressed when Blouin waved documents that had not been entered into evidence, and urged her to wait until closing arguments as she asked to 'say a few things' in the midst of the hearing. Trust ultimately determined that the sale of La Dune had been fair and approved the deal, saying: 'The marketplace has spoken.'"

WFTV in Florida. "New listings of homes for sale in metro Orlando rose 46% between December and January, with the influx to the marketplace contributing to the region seeing its strongest supply of homes for sale in years. An Orlando Regional Realtor Association report for January shows 3,524 homes were listed for sale, up from 2,409 in December. That number helped swell the total inventory of homes for sale in Orange, Seminole, Osceola and Lake counties to 8,217 — the highest inventory for the region since January 2019. What’s more, metro Orlando’s home supply metric — which describes how long it would take for the current number of homes on the market to sell, based on the current sales pace — increased to 4.78 months in January, its highest mark since January 2016."

The Real Deal on Arizona. "A developer consortium will soon replace a former indoor mall in Phoenix with an $850 million retail village and 2,600 homes. Concord, TLG, CDS — all based in Florida — and Houston-based Hines had expected to break ground a year ago, with a scheduled completion in seven to eight years. The vertical buildings are expected to take two years each. But the bulldozers were left parked because of high interest rates and an oversupply of apartments, according to Steve Betts, a consultant for the project with Tucson-based Holualoa Companies. Last year, Phoenix was the top market for apartment construction, with developers completing more than 20,000 units across Greater Phoenix, compared to an average 8,000 units a year, according to the Business Journal."

The Los Angeles Times in California. "For years the growth of warehousing in the Inland Empire was relentless. Box-like fulfillment centers popped up in business parks by the millions of square feet. They were an economic engine, a bringer of jobs, a shortener of commutes, and a workhorse during the pandemic. But now that's come to a halt — bringing uncertainty for thousands of workers and an industry that has been an economic bellwether for the region. 'Everything is different,' said Victor Ramirez, a Pomona resident who’s worked in warehousing for about 20 years. Speaking in Spanish, he remembered when times were better — much better. The 59-year-old recalled not only getting full 40-hour workweeks in the past but bonuses during the pandemic. These days, things have slowed so much at his current place of employment, a warehouse that builds pallets, that he has taken on additional work as an Uber driver and canvasser for nonprofits. 'One job isn’t nearly enough,' Ramirez said."

"'We couldn’t hire fast enough,' said Jeff Baldassari, who until August was president of U.S. Rubber Recycling in Colton, which got a burst of pandemic orders of rubber mats for in-home gyms and other uses. 'Now the party ended, and it’s the hangover the next day,' he said."

Insauga in Canada. "Plans to bring a trio of high-rise towers with more than 1,000 residential units to Brampton have hit a $10-million stumbling block as the property owner has defaulted on a loan. Last fall, the city approved zoning bylaw amendments for a three-tower housing development at 253 Queen St. East. At 32, 33 and 38 storeys tall, the high-rise project was expected to bring a combined 1,026 residential units to Brampton along with office and retail space. But court documents show the property owners have defaulted on their loan, leading debtors to demand more than $10,447,000 in payments and a court decision to put the company in receivership. The documents show the property is also under a subordinate mortgage of $2 million registered in favour of Sky Mortgage Corporation, which 'is now also in financial default.'"

The Sun in the UK. "A fuming couple have slammed 'eyesore' newbuilds that 'ruined' their dream home - they can't even use their garden. Maureen and Dave King, who hail from Broad Oak, near Canterbury, are devastated after new houses destroyed their view and homeowners peer into their bedroom. The couple slammed developer Barratt David Wilson Homes, and alleged no-one was informed how high the newbuilds would be - until construction was underway."

"Maureen told KentOnline: 'It was our dream home - but that dream has been taken away from us.' The pair had already forked out thousands renovating the property but now 'just want to get out' and fear they will be trapped forever. 'I was given a hot tub as a gift, but I won’t use it now if people are looking into my garden,' added Maureen. The distressed homeowner also alleged their neighbours haven't been able to sell their place - with it sitting on the market for six months already. 'The price of ours must have plummeted,' she added."

"This comes as other families across the UK have battled with their own newbuild nightmares. Raging neighbours living on an 'unbelievably claustrophobic' estate have slammed a developer after homes were 'built 2m too high.' Residents on Lyndbrook Close, in Sittingbourne, are outraged after being told construction would last 18 months - but five years later properties are still unfinished. Meanwhile, The Cooks, from Grimsby, Lincolnshire, say their £345,000 forever home has turned into a house from hell. And, in Nottinghamshire, homeowners have claimed their dream newbuilds have become a nightmare as plans to build a warehouse and car park nearby have been put forward. Plus, residents who were promised 'stunning' £400k homes in a housing development have been left fuming."

From Sky News. "Liverpool Mayor Ned Mannoun says the 'great Australian dream' of living on a quarter-acre block is 'now a fantasy.' Mr Mannoun’s comments come as building costs have soared up to $60,000 in a single year, according to the latest Bureau of Statistics figures. 'We have plenty of land – it’s not a small country,' Mr Mannoun told Sky News Australia. 'Whether it’s Sydney water doing their roll out or transport for New South Wales restricting development. Those government agencies are restricting housing supply.'"

The New Zealand Herald. "China’s measures to help make its stock markets more investable and spur economic growth in the wake of Evergrande’s property failure likely won’t fix its underlying issues. Saxo Bank’s Chief China Strategist Redmond Wong told Markets with Madison from Hong Kong that China’s crackdown on short selling and loosening of bank capital requirements, among other stimulus moves, was not the right approach. 'This is not really the medicine at the moment that China needs most. Banning the short seller is just killing the messenger.'"

"Wong said more market and economic reform was required to solve more pressing issues, such as lifting productivity and confidence among entrepreneurs. Also on that list was allowing house prices to decline. 'You need to allow those units to be sold at a lower price,' he said of housing projects unfinished by defunct developer Evergrande."