The U.S. Housing Shortage Deepened in April
During what is typically peak home-buying season, new listings fell more than 20% compared to a year ago. Read More
BY THE NUMBERS
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TRENDING TODAY
LISTING OF THE DAY
Owners Transform a Grand Victorian Manor in Southwest England Into a Modern Compound
The renovation to the home in Dorset drew on a number of styles from around the world, including big open-plan American homes. Read More
TAX TALK
Must I Pay Canada’s Underused Housing Tax on a Lake Ontario Cottage?
For non-citizens buying in the country, there are few exceptions to the levy enacted in 2022. Read More
NEWS BITES
Former Basketball Star Selling Portland, Oregon, Home for $3 Million
Former NBA forward Martell Webster is ready to part ways with his Portland, Oregon, home. A native of the Pacific Northwest, Mr. Webster was a high school star in Seattle before making his 2019 NBA debut with the Portland Trail Blazers at the age of 19. After his career was cut short by a hip injury, he retired in 2017. That same year, he returned to Portland and purchased this five-bedroom home for $2.2 million. Six years later, the stately 5,837-square-foot residence is back on the market for $3 million. Realtor.com
The Market Is Tightening in Toronto
Toronto’s housing market continued to tighten last month. According to the Toronto Regional Real Estate Board, April prices ticked up from March and sales moved closer to the level they were at last April. The average price was still down 7.8% annually to C$1.153 million (US$850,000) but was roughly 4% higher than the C$1.108 million the average buyer paid in March. Sales for the month hit 7,531, down 5.2% from a year ago but up about 9% from March. Those sales outpaced new listings, which were down by over one-third from a year ago, fueling more competition among buyers. Toronto Star
Billionaire Investor Stephen Deckoff Buys Jeffrey Epstein’s Private Islands
More than a year after they hit the market, Jeffrey Epstein’s infamous private islands in the Caribbean have sold. Billionaire Stephen Deckoff, who founded the private equity firm Black Diamond Capital Management, purchased the two islands for $60 million, a significant discount off the initial asking price of $125 million. Mr. Deckoff said he plans to develop a 25-room luxury resort on the islands. Mr. Deckoff said he never met Epstein or visited the islands prior to his death, which Epstein used in his sex trafficking of minors. Forbes
Property Prices Dropping in Finland’s Largest Cities
House prices in Finland have slumped over the last year, with the falls most significant in the country’s biggest cities, according to data from Statistics Finland. Across the country, prices slumped 5.8% annually, as large cities logged declines of 6.6% over the same time and in other parts of the country values dipped 4.2%. “In January to March, sales were at their lowest level since the recession years of the 1990s, and the accelerating decline in prices is not over yet,” said Juho Keskinen, an economist at the Mortgage Society of Finland. Helsinki Times
AROUND NEWS CORP
The Houses Must Be White, and the Designs Preapproved. Everybody Wants In. [The Wall Street Journal]
How to Get French Cool-Girl Style for Your Home [The Times of London]
Have Home Prices and Mortgage Rates Both Peaked? A Hopeful Look Ahead [Realtor.com]
What Aussies Desire Most When Looking for Their Next Home [news.com.au]
