New US Home Sales Jump to Highest Level Since September
Sales of new homes in the US bounced back broadly in March as an abundance of inventory helped drive prices lower.
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Sales of new homes in the US bounced back broadly in March as an abundance of inventory helped drive prices lower.
Hong Kong developer Lai Sun Development Co. is considering options for a planned office tower in the City of London, including a potential sale of a stake in the project.
Germany’s financial regulator BaFin is taking a closer look at the real estate used by lenders to secure covered bonds known as Pfandbriefe, a €400 billion market traditionally considered among the safest in credit.
Taylor Wimpey Plc is failing to see lower mortgage rates translate into higher levels of home sales and is maintaining its forecast for fewer deals in 2024.
Chinese mainland investors increased their portion of total turnover of Hong Kong stocks to a record daily average in April, with the latest measures to bolster the city’s position potentially boosting their purchases.
Feb 22, 2017
BNN Bloomberg
,Canada’s hot housing markets are running out of steam, according to Sun Life Global Investments.
In an interview Wednesday with BNN, Sun Life’s Chief Investment Officer Sadiq Adatia said that there is a housing bubble in Toronto and Vancouver and that it’s already starting to burst.
“I think if you look at Vancouver, we’ve already seen the bubble burst there,” Adatia told BNN.
“A lot of people think it’s just the foreign players and that tax that came through, but it actually started before the tax actually got implemented. So, what we’re seeing is probably a further extension of that downturn as result of the foreign tax.”
For Toronto, meanwhile, Adatia says the trouble still lies ahead.
“Eventually we are going to see this market kind of stop and then come off a cliff,” he said. “The longer we stay in this run-up, the bigger the downturn is going to be.”
“Toronto for many years had been an under-valued real estate market. The difference is, though, that we’ve moved up so significantly in a short amount of time,” Adatia added. “And so, what will likely happen is that we’ll start seeing selling pressure down the road, we’ll see sales coming off. Right now demand is still there but demand is slowly coming off.”