China's Housing Crash Could Set Back Millions of Promising Careers
Professionals who thought they’d won a secure place in the rising middle class are now looking for work and scraping by.
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Professionals who thought they’d won a secure place in the rising middle class are now looking for work and scraping by.
New York Community Bancorp said Julie-Ann Signorille-Browne has resigned from her post as chief operating officer — a role she was promoted to in September last year.
Country Garden Holdings Co. is set to begin a major legal battle on Friday, squaring off in a Hong Kong court against a creditor seeking the liquidation of the defaulted Chinese developer.
China’s government plans to hold a meeting with key officials on Friday morning to discuss the property market, including a proposal to clear excess housing inventory, according to people with knowledge of the matter.
The US Supreme Court upheld the Consumer Financial Protection Bureau’s funding system, lifting a legal threat that could have derailed an agency set up after the 2008 financial crisis to regulate mortgages and other consumer-finance products.
Aug 4, 2022
The Canadian Press
The Quebec Professional Association of Real Estate Brokers says Montreal sales in July fell by 18 per cent last year, with the plexes category alone seeing a 38 per cent drop.
The association says sales for the month amounted to 3,080 compared with 3,772 last year, while homes with between two and five units plunged from 454 last July to 281 last month.
Charles Brant from the association's market analysis department interpreted the drop as confirmation that the market dynamic has shifted, largely because of a significant hike in the country's key interest rate.
Brant says the magnitude of the interest rate hike accelerated the market’s slowdown, but it is much more gradual than in other major Canadian cities.
At the same time, new listings are up 22 per cent from 4,023 last July to 4,901 last month.
The median price of single-family homes in Montreal was $550,000 in July, up 10 per cent from the same time last year, but down $30,000 from April’s peak of $580,000.