
This Week in China: The World’s Best Stocks Need New Buyers
China’s all-or-nothing stock market is losing momentum, after three months of what might be best described as forced buying of a deeply oversold asset.
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China’s all-or-nothing stock market is losing momentum, after three months of what might be best described as forced buying of a deeply oversold asset.
New Statistics Canada data shows investors made up almost one third of homeowners in some provinces in 2020.
A gauge of US services snapped back in January after an end-of-2022 slump, suggesting a resurgence in consumer demand that leans against concerns of an imminent economic slowdown.
Sales in the Toronto housing market ground to the slowest pace since the first month of the pandemic as buyers contend with some of the highest borrowing costs they’ve seen in 15 years.
The Bank of England’s top two policy makers signaled that the most aggressive tightening cycle in three decades may be nearing an end.
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.