
Evergrande Faces Final Chance to Avoid Liquidation by HK Court
Two years after its default marked a key moment in China’s property crisis, the world’s most indebted developer may be heading for another bleak milestone: liquidation.
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Two years after its default marked a key moment in China’s property crisis, the world’s most indebted developer may be heading for another bleak milestone: liquidation.
A normally sedate part of the debt markets used by the finance industry to transfer mortgage default risk has been roiled after insurer Arch Capital Group Ltd. called $1.7 billion of the securities at par when they had been trading at a premium.
The Upper West high-rise overlooking Berlin’s bustling Kurfürstendamm shopping boulevard is one of many glittering trophies in the portfolio of Rene Benko’s collapsing Signa, but its robust valuation reflects how much pain is in store in the cleanup of the real estate empire.
Housing prices in Sweden have resumed a decline as the Nordic nation’s economy is in a recession and borrowing costs continue rising.
Real estate finished November as the second best performing group in the S&P 500 Index adding 12%, trailing slightly behind tech’s 13% gain. The momentum was fueled by bets the central bank may begin cutting rates as early as next year.
Apr 22, 2021
BNN Bloomberg
,Big city life is out. The suburbs are in.
At least that’s the case presented by a new poll from the Bank of Montreal, which suggests 47 per cent of first-time homebuyers in this country are looking to the suburbs.
More than one-third of survey respondents say they’re looking at smaller cities, while just 30 per cent of would-be buyers said they’re looking at a big urban hub like Montreal, Vancouver or Toronto. Of those interested in purchasing a home in a big city, most cite being close to work, and not wanting to leave the area they currently live in as the main factors.
Suburban and small-city shoppers are in pursuit of affordability, and a larger home — something that’s become increasingly important to buyers amid the work from home movement.
“With remote work expected to continue over the long-term, first-time homebuyers have the flexibility to look for a home that isn't necessarily next door to where they work,” said Hassan Pirnia, head of personal lending and home financing products at the Bank of Montreal, in a statement.
“Between this added work flexibility and price appreciation in some major cities, the expectation is that we will continue to see a push into the suburbs.”
The bank’s survey polled 1,000 Canadians who said they were planning on purchasing a home in the next 12 months.
Among them, 61 per cent said they want a detached home, 32 per cent said they are shopping for a townhouse, and just 28 per cent said they want a semi-detached house or a condo.