10/13 房市每日焦点

1、Black knight latest report today, national median home price fell another 1% in Aug following a 1.05% decline in July, largest monthly declines since 2009, the correction leaders are SJ, SF and Seattle all >10% down
2、Fortune article about we are staring at second largest home price decline since the Great Depression, Morgan Stanley base case is -7% for 2023 wo recession and >-10% w recession. GS prediction is -5 to -10%, Moody Analytics <10% wo recession and -10 to -15% w recession. Fitch rating base case -10 to -15%
3、Per ATTOM, the largest >1M population counties, which had the biggest home price decline between Q2 to Q3, are Alameda CA, Travis (Austin) TX, Santa Clara, Contra Costa and Fairfax VA
4、UK home price is plummeting 10-15% as county is pressing ahead with tax cut while BOE hiking rate 就怕队友对着干 warning by several leading institutions
5、 Developer Howard Hughes CEO said this downturn is much different than last cycle, financing is easier in Sunbelt. Higher debt/capital cost make them rethink new development projects, but still positive on multifam sector
6、Eli Lilly is seeking 300ksf in South SF
But AirBnb puts its 300k sf office in Santa Clara for subleasing, as company shifts to permanently work from anywhere model

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