US Rents Climbed 1.5 Times Faster Than Wages in Last Four Years
Rents in most major US metropolitan areas have risen some 1.5 times faster than wages in the last four years, according to an analysis by Zillow Group Inc.
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Rents in most major US metropolitan areas have risen some 1.5 times faster than wages in the last four years, according to an analysis by Zillow Group Inc.
Places like New York City and San Francisco still have fewer workers now than they did before the pandemic, which continues to impact their labor market recovery, according to an analysis by the Federal Reserve Bank of New York out Tuesday found.
Guggenheim Partners is talking to lenders, including private credit firms, to gauge their interest in financing the potential $6.6 billion buyout of US department store chain Macy’s Inc. by investment firms Arkhouse Management Co. and Brigade Capital Management.
OQ Chemicals has appointed Hans-Joachim Ziems as chief restructuring officer, according to a person familiar, as the Germany-based firm faces nearly $1 billion in loan maturities this year.
For sale: Steel skeletons of three towers in downtown Los Angeles, erected by a Chinese developer that spent $1.2 billion before running into financial troubles.
Apr 5, 2021
Bloomberg News
,Canadian consumer confidence hit record highs for a third straight week amid soaring sentiment around housing, despite a third wave ripping through the country and forcing new lockdowns.
Two-thirds of Canadians believe home values will continue rising, according to polling by Nanos Research Group for Bloomberg News. That’s the highest reading since Nanos began polling that question in 2008.
Every week, Nanos Research surveys 250 Canadians for their views on personal finances, job security and their outlook for both the economy and real estate prices. The Bloomberg Nanos Canadian Confidence Index, a broad measure of sentiment based on the polling, jumped to 64.1 last week, also a record. The index has increased almost eight points in the past seven weeks and was hovering at around 56 before the pandemic, which is also about its historical average.
Confidence levels remain high even amid new restrictions across the country in recent weeks to stem a new wave of COVID-19 cases. That’s in large part due to surging optimism over housing, with 67 per cent of respondents saying the value of real estate in their neighborhood will increase in the next six months. That gauge has averaged 38 per cent since 2008 and had never surpassed the 60 per cent threshold until last month.
Home prices across the country are being fueled by historically low interest rates that are driving buyers into the market. The boom has been so sudden that economists have begun warning policy makers to take steps to cool the market.
Views about the economic outlook are also elevated. About 41 per cent of Canadians expect the economy to be stronger in the next six months, which is near the highest share of respondents for this question since 2010.