How a hybrid heating system could lower your bills and shrink your carbon footprint 
Australia's Inflation Eases in February but Core Pressures Persist 
European Stocks Tumble as Iran-Strait of Hormuz Crisis Rattles Global Markets 
A ‘sponge city’ may be your home in 2050 
South Korean Stocks Tumble as Hawkish BOK Governor Appointment Rattles Markets 
Bank of Japan Officials Signal Continued Interest Rate Hikes Amid Inflation Concerns 
Sales of existing homes plunged 10.5 m/m in November, to 4.76mn, well below forecast and consensus expectations for sales of about 5.30mn. The drop in sales was broad based across regions, with regional sales down between 6 and 15 percent on the month. The National Association of Realtors suggests that the Consumer Financial Protection Bureau's new "Know Before You Owe" rule, which went into effect on October 3 and requires new closing mortgage documentation, likely delayed sales past the end of the month.
The increase in the average closing time (41 days, November 2014: 36 days) and the November shift toward all-cash buyers (27%, previous: 24%) both support this conclusion.
"We expect delayed sales activity to be recouped in coming months as the real estate industry adjusts to these new regulations. Weaker-than-expected November sales suggest that a sizeable contraction in brokers' commissions will dampen otherwise solid residential investment growth in Q4", says Barclays.
