
Tax-Free Texas Will Welcome ‘Fed Up’ Chicago Firms, Abbott Says
Texas Governor Greg Abbott has his eyes on Chicago.
Latest Videos
The information you requested is not available at this time, please check back again soon.
Texas Governor Greg Abbott has his eyes on Chicago.
Greg Lippmann, the trader who was immortalized in Michael Lewis’s book “The Big Short,” sees a soft landing by the Federal Reserve as unlikely and is focusing on investments that would perform well in a tougher economic environment or if rates were to rise further.
(Bloomberg) -- Donald Trump rode down the escalator at Trump Tower to announce he was running for president in 2015. The Fifth Avenue skyscraper had long served as the backdrop to his business success story, which in turn became the foundation for his rise in politics.
(Bloomberg) -- The average monthly mortgage payment in the US increased 46% in 2022 as interest rate hikes squeezed home borrowers, according to the Consumer Financial Protection Bureau.
European equities fell to six-month lows on Wednesday, as conviction grew that central banks were set to keep interest rates high for a prolonged period of time.
Apr 8, 2019
Bloomberg News
,(Bloomberg) -- China’s latest step to encourage 100 million rural citizens to move to cities may provide a timely boost to a slowing property market.
Cities with an urban population of between 1 million to 3 million should scrap the residency registration system -- known as hukou -- this year, the National Development and Reform Commission said Monday. Cities with a population of 3 million to 5 million should substantially ease residency requirements.
Reforming the 60-year-old hukou system, akin to an internal passport that determines where people can live and work, may help equalize what is now one of the world’s biggest gaps between rural and urban per-capita incomes. The move may also help boost housing demand in smaller cities, underpinning property prices.
“It’s good news for property markets in mid-to-small cities near a large hub,” said Van Liu, an analyst at Guotai Junan International Co. “It will also offset the blow from slower shantytown redevelopments this year.”
Municipal authorities across China had used the hukou system to curb property speculation when prices were surging -- either by banning purchases by someone without a hukou or limiting the number of properties they could buy.
However, more than 50 cities have eased hukou restrictions this year as part of a “stealth easing” now that prices are cooling, according to Zhang Dawei, an analyst at Centaline Group.
To contact Bloomberg News staff for this story: Emma Dong in Shanghai at edong10@bloomberg.net;Amy Li in Shanghai at yli677@bloomberg.net
To contact the editors responsible for this story: Katrina Nicholas at knicholas2@bloomberg.net, Peter Vercoe
©2019 Bloomberg L.P.