US Consumer Sentiment Jumps to Highest Level Since July 2021
US consumer sentiment rose markedly toward the end of March, supported by strong stock-market gains and expectations that inflation will continue to ease.
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US consumer sentiment rose markedly toward the end of March, supported by strong stock-market gains and expectations that inflation will continue to ease.
Pending sales of previously-owned homes in the US recovered last month after declining at the start of the year, adding to evidence that the housing market is gradually improving.
Home Depot Inc. said it would buy building-products distributor SRS Distribution Inc. for about $18.25 billion in a bid to bolster the company’s professional services business.
Country Garden Holdings Co., once China’s top property developer, warned it will miss its deadline for reporting annual results as more information is needed for appropriate accounting.
China Vanke Co.’s profit tumbled more than analysts expected last year and it vowed to slash debt by almost $14 billion, as the embattled developer tries to stave off default amid a protracted housing crisis.
Jul 11, 2016
Reuters
,OTTAWA - Canadian housing starts rose much more than expected in June from May on booming apartment construction in Ontario as well as a strong performance from British Columbia, data from the national housing agency showed on Monday.
The report from the Canadian Mortgage and Housing Corp showed the seasonally adjusted annualized rate of housing starts rose to 218,333 in June from a revised 186,709 in May. Economists had forecast 190,000 starts in June.
Senior officials in the Liberal government have recently expressed concern about high prices in Toronto and the British Columbia city of Vancouver, Canada's hottest markets, and say they will study whether further tightening of mortgage rules is needed.
"June saw housing starts pick up pace in Canada, bolstered by apartment construction in Ontario, especially new condo construction in Toronto's downtown core," said CMHC Chief Economist Bob Dugan.
The CMHC data showed an increase in urban starts in British Columbia and a slight drop in Quebec.
Dugan said housing starts were trending downward in the energy-producing province of Alberta, which has been hit hard by a slump in the price of crude oil.