China’s Property Crisis Is Rippling Through Its Biggest Banks
China’s protracted property downturn is eroding the balance sheets of the nation’s largest state banks as their bad loans creep up.
Latest Videos
The information you requested is not available at this time, please check back again soon.
China’s protracted property downturn is eroding the balance sheets of the nation’s largest state banks as their bad loans creep up.
Two years ago, Dubai became a hot favorite with Russians looking to park money or build new lives after President Vladimir Putin’s invasion of Ukraine. That allure is now dimming as the cost of living in the glitzy emirate surges and its banks get stricter in enforcing US sanctions.
The Bank of Korea warned Thursday that a further slump in the real estate sector would undermine broader economic activity, as it pointed to worsening delinquencies among developers in the latest signal of continuing woes in the credit market.
Australian retail sales moderated in February despite Taylor Swift-driven demand, as households remained cautious about their finances with inflation still elevated and interest rates at a 12-year high.
UK home sellers are offering smaller discounts as rising expectations of interest-rate cuts this year boost demand.
Nov 10, 2016
Reuters
Canadian new housing prices rose by 0.2 per cent in September from August, the 18th consecutive increase, on continued strength in the major markets of Toronto and Vancouver, Statistics Canada said on Thursday.
The advance matched the forecast of analysts in a Reuters poll.
Prices in the combined Toronto-Oshawa region, which accounts for 27.92 per cent of the Canadian market, climbed by 0.3 per cent. Vancouver prices increased by the same amount and in both cities, builders cited market conditions as one of the reasons for the gain.
The federal government, concerned by what it says are signs the two markets are overheating, last month said it would tighten mortgage rules and close a tax loophole on home sales.
The new housing price index excludes apartments and condominiums, which the government says are a particular cause for concern and which account for one-third of new housing.