In the fourth quarter of last year, the average house price to earnings ratio in the UK was about 8.4x. Apparently this is about as high as it has been in the past 120 years. But interestingly enough, if you go back to the 19th… Read More
This is an interesting story about New Yorkers starting to seek out larger homes. Last month, Manhattan saw 140 purchase agreements signed for homes priced at $4 million or more. In the last week of February alone, 40 contracts were signed, which is apparently a… Read More
Back in 2019, Lake Research Partners conducted a housing study for California YIMBY. One of the questions that California voters were asked was about whether or not they support or oppose having more housing built in their community. Here is how people responded (about 700… Read More
Today was an important milestone for Junction House: The construction crane was erected! The crew started early in the morning and we ended up having a perfect bluebird day (I don’t know where this expression comes from but it’s used all the time by skiers… Read More
Rachelle Younglai’s recent piece in the Globe and Mail does a great job summarizing Canada’s COVID-19 housing boom. The title of the article is, “How Canada’s real estate market defied expectations in the COVID-19 pandemic.” Non-mortgage debt is down. Mortgage debt is up. Money is… Read More
Eleven years and a few setbacks later and we now have a completed laneway house. As Bill Gates once said, “most people overestimate what they can do in one year and underestimate what they can do in ten years.” Construction is all finished up and… Read More
Here are a few interesting stats from a brief report that New York City published this month about their supply of new housing units: From January 1, 2010 to June 30, 2020, New York City delivered 205,994 net new housing units across the five boroughs.… Read More
The story of two markets continues. Median rents in San Francisco are down some 27% percent over the last year. Sales of homes priced under $300,000 are down by about a fifth. And yet, according to the Financial Times, sales are up significantly for homes… Read More
If you’ve been following the housing market (in most cities) over the last year, this chart likely won’t surprise you. It is from a recent City Observatory article by Joe Cortright talking about the “k-shaped housing market” that we have seen emerge over the last… Read More
Apartment List’s quarterly Renter Migration Report (Q4 2020) offers up some interesting insights into what may be playing out in the apartment sector right now. The most striking takeaway seems to be the surge in people looking for short-term rentals (leases of six months or… Read More
