
Long, Moderate and Painful: What Next US Recession May Look Like
Recessions, like unhappy families, are each painful in their own way.
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Recessions, like unhappy families, are each painful in their own way.
Chinese developer Shimao Group Holdings Ltd. said it failed to pay a $1 billion dollar bond that matured Sunday, the latest missed payment in the struggling sector.
Treasury holders reeling from the most brutal first half on record are starting to bet that a worsening economy will deliver some relief from the relentless selloff even as they brace for the risk of more weakness.
Eyewear billionaire Leonardo Del Vecchio divided his fortune equally among his wife, his six children, and the son of his wife from a previous marriage, according to his will.
Manufacturing from the US to Asia is very much in a slowdown as factories continue to struggle with supply snarls, labor shortages and elevated materials costs.
May 10, 2018
There’s another sign that Canada’s second-largest city is the next hot housing market.
The Greater Montreal Area posted the country’s biggest increase in detached luxury home prices in the first quarter, with the median price climbing more than nine per cent to $1,569,515 from the same period in 2017, according to a Royal LePage report released Thursday.
Meanwhile, the median price of a luxury condominium in Montreal rose nearly four per cent year-over-year to $1,247,833, Royal LePage said.
“Compared to other world-class cities, Montreal offers the best real estate value on the planet,” Phil Soper, president and CEO of Royal LePage, said in a release.
“A buyer’s purchasing power is significantly higher in the Greater Montreal Area when compared to other Canadian and international cities.”
Montreal home sales surged 10 per cent year-over-year in April, while condo sales soared 18 per cent, according to data from the Greater Montreal Real Estate Board released earlier this week.
Montreal’s big gains come amid softening demand in Vancouver and Toronto’s detached luxury homes segment, as both buyers and sellers in the country’s hottest housing markets face a number of new federal and provincial housing measures.
In the Greater Toronto Area the median price of a luxury detached home remained relatively flat, down about 0.2 per cent at $3,522,117, while the median price of a luxury condo rose more than 10 per cent to $1,710,365.
The median price of a Greater Vancouver luxury detached home was up 5.2 per cent to $5,792,941 in the same period, while the price of a luxury condo rose seven per cent to $2,503,873.
Royal LePage also said it expects the median price of a detached home in Greater Vancouver will decline three per cent in the first quarter of 2019, compared with the same period this year.