China Home Prices Fall at Faster Pace Despite Revival Efforts
China’s home prices fell at a faster pace in April, underscoring why the government is stepping up efforts to tackle the years-long property crisis.
Latest Videos
The information you requested is not available at this time, please check back again soon.
China’s home prices fell at a faster pace in April, underscoring why the government is stepping up efforts to tackle the years-long property crisis.
Shares of Chinese property developers extended a rally as investors expect Beijing to unveil more policy support after a Friday meeting to salvage the beleaguered market.
Professionals who thought they’d won a secure place in the rising middle class are now looking for work and scraping by.
New York Community Bancorp said Julie-Ann Signorille-Browne has resigned from her post as chief operating officer — a role she was promoted to in September last year.
Country Garden Holdings Co. is set to begin a major legal battle on Friday, squaring off in a Hong Kong court against a creditor seeking the liquidation of the defaulted Chinese developer.
Nov 23, 2023
BNN Bloomberg
,TD Economics says it expects Canadian home prices will fall even further than its previous forecasts for the third quarter and into early 2024.
An economic and financial outlook report published Tuesday raised the potential for Canada to experience “an even bigger” correction in home prices. The TD economists who authored the report said they are now forecasting a 10 per cent drop in home prices, up from the five per cent drop they had expected in September.
“We've had to magnify that drop to around 10 per cent,” the report said.
“There are two main culprits underpinning this change. The first is our upgraded bond yield forecast. The second is the larger-than-anticipated loosening in B.C.'s and Ontario's housing markets.”
The authors noted that the rest of Canada experiences different market conditions than Ontario and B.C., and other regions have “benefited from tighter markets and better affordability” when it comes to housing.
Ontario’s sales-to-new-listings ratio fell to 39 per cent in October from 63 per cent in May, the report said, attributing the falling ratio to a “sudden surge in supply.”
The authors noted that population growth cushions the downside potential on average home prices.
Despite the downward revision in average home price expectations, the economists said “perspective is warranted.”
Although a 10 per cent decline is sharper than the previous prediction, the report noted that even after that decrease, average home prices would still be 15 per cent higher than they were before the pandemic.
In October, a report from RATESDOTCA said the average home price in Canada was $757,600.