Banks Warn of Growing Energy-Related Risks in Mortgage Portfolios
Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
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Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
British Land Co. has sold its stake in Sheffield’s Meadowhall Shopping Centre, one of the largest shopping malls in the UK, to Norway’s sovereign wealth fund.
China’s latest housing initiative is aimed at vacant properties, a major pain point in a crisis that’s dragged on for almost three years. But analysts say the package of measures is still too small to end the rout.
Foreign buyers swooped in to purchase Chinese stocks on Friday as Xi Jinping’s government announced a slew of measures to bolster the housing market.
China’s property stocks need a sustainable turnaround in order to foster investor confidence that this year’s broader equities recovery can maintain, or even increase its momentum.
Oct 4, 2023
BNN Bloomberg
With serious investments needed to address Canada’s housing crisis, a top economist suggests a collaborative approach is required to make homes affordable.
A recent report from the Canada Mortgage and Housing Corporation found the 3.5 million additional new homes needed to make housing affordable in Canada by 2030 will cost an expected $1 trillion on top of what’s already planned.
“The idea is just to convey to people the scale of the challenge, that we need fundamental reform, we need systematic change, we need change by governments and the policies, but we also need a lot of change by the private sector,” Aled Ab Iorwerth, deputy chief economist with the CMHC, told BNN Bloomberg Wednesday.
“This is all hands on deck.”
Ab Iorwerth said further tax breaks on construction are needed, such as the federal government’s previously announced plan to remove the GST from new rental builds.
“There need to be incentives and encouragement to the private sector to put that money at work in housing construction particularly in rental,” he said.
When it comes to international markets worth emulating, Ab Iorwerth says the U.S. is dealing with a lot of the same issues Canada faces, but many European nations have overcome them with more cookie-cutter builds instead of custom homes.
“I think our examples are from Europe that we need to be looking at, to get more out of the construction industry, to get more collaborative and to cut costs,” he said.