‘Floating’ Cliffside House in Australia Hits the Market
The suburban Gold Coast home is being sold through an expressions of interest campaign. Read More
BY THE NUMBERS
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LISTING OF THE DAY
An Oenophile’s Dream Home in South Africa
The house, built for entertaining, also has views of the Indian and Atlantic oceans. Read More
TAX TALK
What Kind of Taxes Apply If I Buy an Italian Vineyard for Pleasure?
The good news is you won’t have to worry about business taxes. Read More
NEWS BITES
Elvis Presley’s Honeymoon Destination Hits the Market The famed Palm Springs home where Elvis and Priscilla Presley spent their 1967 honeymoon has been put on the market for $5.9 million, years after being unsuccessfully listed for $9.5 million. The 5,000-square-foot four-bedroom was leased by Presley for several years and features its own fruit orchard on the 1.25- acre property. Los Angeles Times
American Housing Shortage to Continue in 2018 The current shortage of homes in the U.S. won’t be remedied in 2018, according to research from Zillow that reveals that there are 12% fewer homes for sale than there were a year ago. The study predicts that more owners will choose to stay put rather than venture out into a limited market, exacerbating the existing issue. Housing price are expected to increase by 4.1% in the next year. PropertyWire
Canadian Resales Up, Amidst Slowness in Other Areas Canada saw a 0.9% increase in the number of resold homes in October, according to the Canadian Real Estate Association. The report had grimmer news when it came to overall sales, which it had down 4.3% from a year earlier. A separate analysis from Teranet National Bank Composite House Price Index showed a drop in prices of 10%, with monthly prices taking the most substantial plunge in seven years. BNN
U.S. Homes Gain Equity, According to Research The number of negative equity homes, those where the amount of property loans is 25% greater than the current value, fell by 800,000 quarter to quarter to 4.6 million in the third quarter of 2017, according to a report from ATTOM Data Solutions that attributed the change to the strength in home value appreciation. The number of properties considered equity rich, meaning ones where the loans are less than 50% of the value, represented 26% of all homes. World Property Journal
Hong Kong Interest in British Investment Undimmed By Brexit The upcoming Brexit has done little to tamper Hong Kong’s interest in British real estate, with developers doubling down on ambitious housing efforts like a $1 billion mixed-use development in London and a project that will bring 10,000 new units to Manchester in coming years. The interest is seen to be due in large part to the weakness of the pound, whose value against the dollar has fallen 11.5% since the decision. South China Morning Post
AROUND NEWS CORP
Hedge Fund Exec Barry Rosenstein Lists Hamptons Estate for $70 Million [The Wall Street Journal]
Mortgage Rates Spike to Four-Month High as Tax Reform Drives Bond Sell-Off [MarketWatch]
NYC's Cheapest Housing Might Be Its Chicest [New York Post]
5 Surprisingly Smart Reasons to Buy a Home During the Holidays [Realtor.com]