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- Swedish Banks Lash Out at Government as Housing Market Overheats – Bloomberg
Sweden's banks, which are among Europe's best-capitalized, are warning that excess reserves can't cool a property market at risk of overheating as they urge the government to address a chronic under-supply of housing.
Sweden's rising house prices stem in part from a lack of rental properties in its biggest cities after about 160,000 properties across the country were converted into owner-occupied flats since 2000, according to data from Statistics Sweden. Construction is also failing to keep up with population growth. While greater Stockholm added 164,400 residents in the past five years, only 4,165 housing units were built in the Stockholm area in the first half of 2013.
Do you agree with us that the bankers have a valid point?
- Not all real estate investors are fleeing Las Vegas housing market – VEGAS INC
With Las Vegas home prices much higher than last year, Wall Street investors have started to pull back and buy fewer properties.
But overall, investor appetite is growing statewide.
Institutional investors, or buyers who pick up at least 10 homes a year, accounted for 25 percent of all residential sales in Nevada last month, according to a new report from RealtyTrac. That's up from 14 percent of all sales in August.
- Long way from home: S.F. house prices outrace median income by 48 percent – San Francisco Business Times
…with a median home price of $706,300 in San Francisco, someone earning the median income of $74,922 makes 48 percent less money than they need to afford a median-priced home. For the median home price to match the median income, workers would have to bring in a median of about $111,000.
The discrepancy between home prices and incomes vary by cities, but overall, home prices nationwide have risen an average of 16 percent while incomes have only risen 3 percent.
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