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.
Aug 16, 2023
The Canadian Press
Canada Mortgage and Housing Corp. says the annual pace of housing starts in July fell 10 per cent compared with June when they posted their strongest showing so far this year.
The national housing agency says the seasonally adjusted annual rate of housing starts in July came in at 254,966 units compared with 283,498 in June.
The annual pace of urban starts was down 11 per cent in July at 234,857, while the rate of multi-unit urban starts fell 12 per cent to 193,446 and the pace of single-detached urban starts dropped four per cent to 41,411.
CMHC says the annual pace of starts in July in Vancouver fell 23 per cent, while Toronto dropped 29 per cent. Meanwhile, Montreal rose 12 per cent, Calgary gained 33 per cent and Edmonton added 6 per cent.
The annual rate of rural starts was estimated at 20,109 for July.
The six-month moving average of the monthly seasonally adjusted annual rate of housing starts was 242,525 in July, up from 235,819 in June.
This report by The Canadian Press was first published Aug. 16, 2023.