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CMHC says annual pace of housing starts in May up 10% from April
Canada Mortgage and Housing Corp. says the annual pace of housing starts in May climbed 10 per cent compared with April, helped by gains in Montreal and Toronto.
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Canada Mortgage and Housing Corp. says the annual pace of housing starts in May climbed 10 per cent compared with April, helped by gains in Montreal and Toronto.
Canada’s housing starts jumped to the highest level in seven months, as the country’s two largest provinces ramped up construction on apartments, townhouses and condominiums.
Hong Kong’s tycoons are seeing their skyscrapers lose rental values by as much as a third, amid the worst commercial property market slump in more than a decade.
Local governments in China have asked several companies to pay tax bills dating back as far as the 1990s, underscoring their need for funding due to the uneven economic recovery and persistent housing slump.
Deutsche Bank AG agreed to buy about €1.7 billion ($1.8 billion) in aviation loans from NordLB, which is exiting the sector to focus on areas such as renewable energy financing.
Oct 7, 2021
Bloomberg News
,(Bloomberg) -- The Reserve Bank of Australia said it is important that lending standards are maintained as the risk remains from excessive borrowing in the country’s housing market.
“In Australia, and some other countries, there have been large increases in housing prices and an acceleration in borrowing,” the central bank said in its semi-annual Financial Stability Review released Friday. “Vulnerabilities can increase if housing market strength turns to exuberance,” the bank said, while noting this week’s move by the Australian Prudential Regulation Authority in response to these risks.
Australia’s banking regulator Wednesday raised the minimum interest-rate buffer that lenders need to account for when assessing home-loan applications. Property prices are surging Down Under in response to ultra-low interest rates, a phenomenon witnessed across the developed world following central bank policy easing in the wake of the pandemic.
Among other issues in the review of the financial system, the central bank found:
©2021 Bloomberg L.P.