Billionaire Stephen Ross Believes in South Florida—and Is Spending Big to Transform It
The Related Cos. founder is following the money flowing south by bringing his influence to everything from real estate to schools and health care.
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The Related Cos. founder is following the money flowing south by bringing his influence to everything from real estate to schools and health care.
Initial data on US gross domestic product for the first quarter of 2024 is set to confirm an ongoing economic boom amid a tailwind from surging immigration.
A South Florida office skyscraper from Related Cos. landed new finance tenants, including a John Paulson business and a private equity firm that counts Mark Bezos as a founding partner.
Oracle Corp. is moving its headquarters out of the city. Tesla Inc. is pulling back after a rapid expansion. Almost a quarter of commercial office space is vacant, and nowhere in the country have residential real estate prices fallen further from their pandemic peak.
Mortgage rates in the US increased for a fourth straight week.
Oct 6, 2016
Reuters
OTTAWA - A report by Canada Mortgage and Housing Corp. says home sales in Vancouver were already slowing before the plunge in recent months in the wake of a new tax on foreign buyers.
In its housing market insight report into the preliminary impact of the foreign buyers tax, CMHC says it's too early to determine the long-term impact of the decision.
The housing agency says the drop in sales in August and September continued an already established trend, particularly at the higher end of the price range.
The Real Estate Board of Greater Vancouver reported earlier this week that September home sales fell 32.6 per cent compared with the same month last year. That followed a 26 per cent year-over-year decline in August and a dip of about 19 per cent the previous month.
The B.C. government implemented a 15 per cent tax on foreign buyers in August.
Provincial government data shows an increase in foreign homebuyers in the days before the tax came into effect on Aug. 2, but then a sharp drop in the month that followed.