US Rents Climbed 1.5 Times Faster Than Wages in Last Four Years
Rents in most major US metropolitan areas have risen some 1.5 times faster than wages in the last four years, according to an analysis by Zillow Group Inc.
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Rents in most major US metropolitan areas have risen some 1.5 times faster than wages in the last four years, according to an analysis by Zillow Group Inc.
Places like New York City and San Francisco still have fewer workers now than they did before the pandemic, which continues to impact their labor market recovery, according to an analysis by the Federal Reserve Bank of New York out Tuesday found.
Guggenheim Partners is talking to lenders, including private credit firms, to gauge their interest in financing the potential $6.6 billion buyout of US department store chain Macy’s Inc. by investment firms Arkhouse Management Co. and Brigade Capital Management.
OQ Chemicals has appointed Hans-Joachim Ziems as chief restructuring officer, according to a person familiar, as the Germany-based firm faces nearly $1 billion in loan maturities this year.
For sale: Steel skeletons of three towers in downtown Los Angeles, erected by a Chinese developer that spent $1.2 billion before running into financial troubles.
Jul 11, 2016
The Canadian Press
TORONTO -- The Toronto Real Estate Board is appealing a landmark ruling by the Competition Tribunal that would allow its realtor members to post sales data online, arguing that the decision violates the privacy of homebuyers and sellers.
The quasi-judicial tribunal ruled back in April that the board stifled competition and digital innovation by preventing its realtor members from posting information on their websites about home sales from its Multiple Listing Service (MLS).
The board was ordered last month to include in its home sales data feed information it currently does not disclose, including sales figures, pending sales and broker commissions. Under the tribunal's ruling, realtors would be allowed to share that information, as long as users are required to register to access it, though sellers would be allowed to opt out of having their addresses and listings posted online.
The case, which has been ongoing since 2011, has been closely watched across the country, as it's expected it could affect how other real estate boards provide services to their customers online.
The Toronto Real Estate Board said the tribunal "erred in fact and law" when it ruled that the board's practices lessened competition.
"The Toronto Real Estate Board has never done anything but support competition amongst our members, and we've always supported innovation as well," TREB CEO John DiMichele said in an interview with The Canadian Press.
The board, which represents about 45,000 realtor members, says its policy is intended to protect personal financial information and argues that posting that online would amount to a breach of consumer privacy laws, including the new Digital Privacy Act that came into effect last year.
“The consumer has a choice and they’ve expressed those choices to us. In fact, we have surveys, there’s evidence during the tribunal hearings that says consumers want that choice,” DiMichele told BNN in an interview. “They want to decide themselves if that information is going to be put on the Internet.”
The tribunal gave the board until Aug. 3 to comply with its ruling. The board has applied for a stay to postpone that until its appeal is resolved.
"We are working to meet the order deadline and comply," DiMichele said. "But we have serious concerns, as we've laid out, so yes, we are appealing and asking for a stay."
The board says it filed its appeal with the Federal Court on Friday.
DiMichele added that community-specific data is already available to consumers through the City of Toronto.
“We do not stifle competition nor innovation. In fact, what we try to do is bolster that … but, we stick to the laws, particularly if something is of great importance to a buyer or a seller,” DiMichele told BNN.
With files from BNN