
Housing Slump Deepens From US to China in Risk to Global Growth
Shaky property markets across much of the world pose another risk to the global economy as higher interest rates erode household finances and threaten to exacerbate falling prices.
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Shaky property markets across much of the world pose another risk to the global economy as higher interest rates erode household finances and threaten to exacerbate falling prices.
The Blackstone Inc. real estate investment trust that limited investor withdrawals after a surge in redemptions last year said it now has about $14 billion of liquidity and is gearing up to hunt for deals.
Overseas owners of property in the UK face the prospect of financial penalties or prosecution after a deadline passed for them to register with British authorities and declare the identities of their beneficial owners.
The number of people in Hong Kong whose homes are worth less than their mortgages surged to an 18-year high as the financial hub struggles with the worst housing slump in more than a decade.
The drop in expense account meals and business travelers during the pandemic encouraged new styles.
Jul 16, 2021
The Canadian Press
Canada Mortgage and Housing Corp. says the annual pace of housing starts slowed in June.
The national housing agency says the seasonally adjusted annual rate of housing starts fell 1.5 per cent to 282,070 units in June compared with 286,296 in May.
The annual pace of urban starts fell 1.8 per cent in June to 251,190 as the pace of starts for apartments, condos and other types of multiple-unit housing projects rose 0.6 per cent to 191,085.
Starts of single-detached urban homes fell 8.5 per cent to 60,105.
CMHC estimated rural starts at a seasonally adjusted annual rate of 30,880 units.
The six-month moving average of the monthly seasonally adjusted annual rate of housing starts was 293,567 in June, up from 284,837 in May.