Saudi Arabia Is Making a High-Risk $1 Trillion Bet on Tourism
The kingdom must overcome a conservative image and concern about human rights. Visit the desert oasis town of AlUla to understand the challenge.
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The kingdom must overcome a conservative image and concern about human rights. Visit the desert oasis town of AlUla to understand the challenge.
Jury selection was completed Friday for Donald Trump’s first criminal trial, setting the stage for opening arguments Monday in a New York case accusing the former president of falsifying business records to conceal a sex scandal before the 2016 election.
Higher-than-expected interest rates amid persistent inflation are perceived as the biggest threat to financial stability among market participants and observers, according to the Federal Reserve.
Fifth Third Bancorp jumped the most in four months, leading bank stocks higher, with Chief Executive Officer Tim Spence predicting that income from lending has bottomed out.
China’s securities regulator said it will encourage the nation’s companies to list in Hong Kong as it unveiled a package of measures to bolster the city’s position as an international financial hub.
Nov 2, 2017
Toronto's Real Estate Board says fallout from government intervention is "starting to unwind," even after another month of double-digit sales declines.
There were 7,118 residential property sales across the Greater Toronto Area in October, marking a nearly-27 per cent drop from the previous year. Would-be buyers had plenty to choose from, as active listings surged 78.5 per cent year-over-year.
Sales were down across all segments of the market, with the biggest decline (29.8 per cent) registered among detached homes.
The overall average selling price last month in Canada's largest housing market was $780,104. That was a modest increase year-over-year, but still 15 per cent below the April peak of $920,791.
It was not a one-size-fits-all market, however, as GTA condo prices surged almost 22 per cent to $523,041, even as sales tumbled.
READ MORE: HOUSING
Buyers and sellers have been jockeying for position across the GTA since late April, when Ontario Premier Kathleen Wynne's Liberal government unveiled a 16-point plan designed to improve affordability. That strategy was built around a new 15-per-cent tax on foreign speculators.
In the aftermath of that intervention, monthly sales fell as low as 5,921 in July.
Now, half a year since the levy was implemented, the regional industry group thinks its impact is waning.
“The housing market in the GTA has been impacted by a number of policy changes at the provincial and federal levels," said Jason Mercer, TREB's director of market analysis, in a press release.
"Similar to the track followed in the Greater Vancouver Area, it appears that the psychological impact of the Fair Housing Plan, including the tax on foreign buyers, is starting to unwind."