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China Evergrande Group’s risk management committee plans to hire additional financial and legal advisers to help the embattled developer deal with its debt stress and respond to creditors’ demands.
Speaker Nancy Pelosi said the House is close to finishing legislation to bolster U.S. competition with China and aid the U.S. semiconductor industry that can be merged with a similar Senate-passed bill, a crucial step toward eventual passage by Congress.
(Bloomberg) -- U.S. commercial real estate deals reached a record high of $809 billion last year as the market rebounded from the depths of the pandemic, according to Real Capital Analytics.
The banks have different structures and offerings, but most operate through government or philanthropic donations and target low-income residents with short-term needs.
Depressed housing inventory curbed U.S. sales of previously owned homes at the end of the strongest year since 2006, and a recent spike in mortgage rates risks a further tempering of purchases.
Aug 19, 2021
, Bloomberg News
Canadians are piling into mortgages at more than double the historical pace as the housing market appears to moderate after a pandemic boom.
The total value of residential mortgages rose by 1.2 per cent to $1.73 trillion (US$1.4 trillion) in June, according to data released Thursday by Statistics Canada. That’s the fastest monthly increase in loans borrowed for real-estate purchases since 2007.
The spike in mortgages is evidence of Canadians’ demand for more living space during the COVID-19 pandemic, which sent sales and prices to record highs. Driven by lower interest rates, the total amount of real estate-related debt outstanding in the country has risen 9.2 per cent in the past year, the largest increase since 2008.
Still, the heightened level of borrowing activity is likely to slow alongside Canada’s cooling housing market, where sales volumes have fallen for the past four months. “There is normally a time lag between the sale of a home and the actual receipt of mortgage funds,” the statistics agency said in the release.
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