New US Home Sales Jump to Highest Level Since September
Sales of new homes in the US bounced back broadly in March as an abundance of inventory helped drive prices lower.
Latest Videos
The information you requested is not available at this time, please check back again soon.
Sales of new homes in the US bounced back broadly in March as an abundance of inventory helped drive prices lower.
Hong Kong developer Lai Sun Development Co. is considering options for a planned office tower in the City of London, including a potential sale of a stake in the project.
Germany’s financial regulator BaFin is taking a closer look at the real estate used by lenders to secure covered bonds known as Pfandbriefe, a €400 billion market traditionally considered among the safest in credit.
Taylor Wimpey Plc is failing to see lower mortgage rates translate into higher levels of home sales and is maintaining its forecast for fewer deals in 2024.
Chinese mainland investors increased their portion of total turnover of Hong Kong stocks to a record daily average in April, with the latest measures to bolster the city’s position potentially boosting their purchases.
Jan 24, 2017
Reuters
,Housing prices in Canada's largest city, Toronto, have increased disproportionately and are spilling over into nearby communities, the federal housing agency said on Tuesday.
The Canada Mortgage and Housing Corp (CMHC) said the spillover of rising home prices has affected nearby cities within commuting distance of Toronto.
It noted the average price in the Greater Toronto Area was up 18 per cent in the third quarter of 2016 from the same quarter in 2015.
While most Canadian housing markets have cooled after a long boom, Toronto has continued to boil, sparking concerns about a bubble.
The government tightened mortgage lending rules again late in 2016 in a bid to lower the risk of consumers taking on too much debt to get into the market.
The CMHC has said there is strong evidence of overvaluation in Toronto, with the growth in house prices persistently outpacing economic and demographic fundamentals.
The report said the spillover effect of high prices is greatest in communities closer to Toronto, and that the impact of a negative or positive shock would affect prices in the spillover communities more dramatically than in Toronto itself.
It said, for example, that "an unexpected 10 per cent contraction in GTA (Greater Toronto Area) prices could lead Hamilton prices to decline by 14 per cent within one year," the report said.