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TBD, a part of Block Inc. focused on creating open and decentralized technologies to connect the financial world, has partnered with Chipper Cash, one of the largest financial technology firms in Africa to accelerate its global cross-border payments.
The embattled head of the Federal Deposit Insurance Corp. told lawmakers calling for his resignation that he was moving quickly to overhaul the agency’s workplace culture after a probe detailed complaints of sexual harassment and discrimination at the agency.
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Canada’s housing starts fell for a second consecutive month as the country’s construction shortfall continues.
Apr 5, 2016
, BNN Bloomberg
Toronto’s red-hot housing market continues to sizzle. Existing home sales in the city surged more than 16 per cent in March, capping a quarter that saw sales activity hit an all-time high, according to monthly sales figures released Tuesday by the Toronto Real Estate Board.
If there’s one thing holding back home sales in Canada’s largest city, it’s insufficient supply. New listings dropped in March compared to the same period last year.
"Demand was clearly not an issue in the first three months of 2016,” said Jason Mercer, the Toronto Real Estate Board’s director of market analysis, in a press release.
“The supply of listings, however, continued to aggravate many would-be home buyers. We could have experienced even stronger sales growth were it not for the constrained supply of listings.”
That lack of supply led to more competition and helped drive prices higher. The average selling price for all homes jumped more than 12 per cent in March to $699,745; while the average price for a detached home in Toronto topped $1.17 million.
Strong consumer sentiment and robust home-buying intentions are putting 2016 on track to post a second consecutive year of record home sales, according to Toronto’s real estate board. This comes despite recent attempts by Ottawa to cool the housing market by raising down-payment rules
Similar record-breaking numbers were posted in Vancouver on Monday. More than 5,000 Vancouver homes were sold in March – an increase of 24 per cent from the previous month. The average price of a detached home in Greater Vancouver is now $1.78 million.
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