The Global News reports from Canada. "Global News obtained MLS sales data from several key Metro Vancouver markets and found the number of homes sold during the first two weeks of August in Greater Vancouver dropped by 85 per cent on average. Richmond experienced a 96 per cent drop in the number of sales and Burnaby North fell by 95 per cent. Vancouver’s West Side, West Vancouver, and Coquitlam also took major hits. East Vancouver’s Nina MacDonald echoes that belief telling Global News she hasn’t had any nibbles on her $1.28 million, 59-year-old bungalow on Napier Street that she’s owned for over 20 years. She’s even cancelled an upcoming open house because she felt like it would be pointless."

"She initially wanted to sell because the real estate windfall would allow her to purchase a turnkey property and pay the down payment on houses for her grandchildren. 'I went from having a phone call every day [from realtors] to not having any,' she said."

Bloomberg on China. "Chinese policymakers have resorted to traditional levers to juice the economy this year: investment, public-sector spending, and monetary expansion. But there are growing signs the property market has slowed down, while imbalances in the sector are growing, according to analysts."

"Bloomberg Intelligence analysts suggest policy makers face significant headwinds in addressing imbalances in the sector in the months ahead. 'China's property sector may deliver the worst of both worlds: a speculative top tier that churns existing apartments without generating new construction, and moribund second and third tiers that leave the market swamped in unsold apartments.'"

The Korea JoonAng Daily. "By 2019, the property market is expected to face an oversupply of up to 670,000 residential units. Budongsan 114, a real estate information provider, estimates market supply in the next three years will total 1.65 million residential units. However, the government says demand will only reach 1.16 million units."

"'The aftermath in areas where there has been huge interest by potential homebuyers due to favorable factors [that help apartment values rise after purchase] such as KTX and industrial development will be severe if the population moving in the area doesn’t meet its potential [resulting in a large number of unsold apartments],' said Kwon Dae-joong, a real estate professor at Myongji University."

From Leadership Nigeria. "The fact that no economy can develop without a successful private sector has made the lingering glut in the nation’s property market more worrisome. The bleak outlook of the housing sector has further threatened the survival of the businesses of housing developers and realtors in the country. The nation’s two distinct arms of private sector are in business either to make money by adding value to the country’s economy or to make money at the expense of the society have been churning out housing units in different parts of the country."

"In highbrow areas in Lagos like Ikoyi, Victoria Island and Lekki which over the years has been the toast of the super-rich and choice areas for expatriates most properties there now carry the 'to-let' or 'for sale' tag and the tag has been on them for months or years with one asking questions about the properties. Beyond Lagos, Abuja the nation’s Capital Territory is not exempted from the glut. Although it is often described as one of the fastest-growing cities in the world, most of the houses and estates in high-brow areas like Asokoro, Gwarinpa, Maitama, , Wuse II, Utako, Katampe districts are unoccupied years after completion as a result of the high cost of renting or leasing."

"LEADERSHIP checks showed that houses and estates in Gaduwa, Apo, Dei-Dei, Gwarimpa, Lugbe, Kubwa, Gudu, Life Camp, are also in economic limbo as a result of no buyers or renters. Not amused by the bleakness portended by the prevailing situation, the chief executive officer, FESADEB Communications Limited, Festus Adebayo said most of those who built the estates not occupied in Abuja particularly are looking for buyers, but cannot get buyers."

"Adebayo reasoned that, 'they cannot get buyers apparently because the houses are not affordable; obviously, the purchasing power has gone down. When a two-bedroom apartment is put at N14 million, how can it be affordable, and even when you are asked to pay 20 per cent or 30 per cent of the amount, it is still not easy for many people to afford.'"

"'The danger is this; these too many houses that are standing without buyers due to lack of purchasing power, the prices of houses may crash. According to simple law of economics, when the supply is high and demand is low, prices will be forced to crash. Some of the owners of those estates that are not being occupied got the money from somewhere.'"

"'I must be very candid, it is not all of them that are public treasury looters, and some got the money from banks, so they cannot continue to hold the banks’ money, considering the high interest rate while the houses are standing. So, I foresee prices coming down.'"