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Crown jewels including resorts and a gas station chain are up for grabs. Saudi Arabia mulls purchases.
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Crown jewels including resorts and a gas station chain are up for grabs. Saudi Arabia mulls purchases.
(Bloomberg) -- China’s industrial companies’ profits fell in March as exports flagged and deflationary pressures persisted, suggesting the economy’s stronger-than-expected growth early this year might be tough to maintain.
New York Community Bancorp Inc. has had one of the most tumultuous quarters in recent banking history. Its first-quarter earnings will probably reveal more about impacts from the drama — and management’s plan to move forward.
Donald Trump’s longtime personal assistant, who worked for his real estate empire for decades, told a jury that she has a “vague recollection” of seeing Stormy Daniels at Trump Tower sometime before 2015.
The delinquency rate for US small businesses climbed to a three-year high this month, reflecting the impact of rent spikes and declining revenue, according to a monthly survey.
Oct 18, 2017
BNN Bloomberg
Doug Porter, Chief Economist, BMO Financial Group
“The impact of these measures will be mixed but with an overall dampening impact on the housing market, with a bigger bite in higher-priced detached markets in Toronto and Vancouver. ... At the margin, this significant move by the regulator acts as a de-facto tightening and reduces the amount of additional Bank of Canada rate hikes required in 2018.”
Phil Soper, CEO, Royal LePage:
The new OSFI mortgage regulations should mitigate the runaway mega-city prices risk, but they do introduce new challenges. ...The new government policy will land squarely on move-up buyers looking to use their home’s equity to finance a new purchase. Some will not be able to get the home they had intended and will withdraw from the market. Others may look to less expensive properties, driving activity and prices in the lower-end of the market."
Tim Hudak, CEO, Ontario Real Estate Association:
"While realtors support a sensibly regulated real estate market, OSFI’s new stress test for uninsured mortgages is overkill. These changes will hurt middle class families and punish careful savers the most, forcing them to take on more debt and higher interest payments. It’s time for governments to hit the brakes on more demand side policy interventions and take a wait and see approach."
David Madani, Senior Canada Economist, Capital Economics:
"This will have a far greater impact on house prices than the Bank of Canada recent interest rate hikes."
Brian DePratto, Senior Economist, TD Economics:
"Broadening the stress test will likely further slow housing activity, depressing demand by five per cent to 10 per cent once implemented, with some pull-forward of activity likely to take place ahead of the January 1st implementation date. Price growth will also be impacted, with these changes expected to exert a drag of between two per cent and four per cent over 2018."
Will Dunning, Chief Economist, Mortgage Professionals Canada:
"Let's say this policy reduces housing activity by 10-15 per cent — which is a standard estimate. That would mean, two years from now, there would be fewer jobs than there would otherwise be. So, 100,000-150,000 fewer jobs than would otherwise have been as a result of this policy."