Chinese Firms Are Investing Abroad at Fastest Pace in Eight Years
China’s overseas investment is heading for an eight-year high as its dominant firms build more factories abroad, a shift that could soften criticism of Beijing’s export drive.
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China’s overseas investment is heading for an eight-year high as its dominant firms build more factories abroad, a shift that could soften criticism of Beijing’s export drive.
The Related Cos. founder is following the money flowing south by bringing his influence to everything from real estate to schools and health care.
Real estate brokerage stocks tumbled Thursday on waning expectations for Federal Reserve interest-rate cuts, and as a disappointing earnings release raised concern about the sector’s outlook.
Initial data on US gross domestic product for the first quarter of 2024 is set to confirm an ongoing economic boom amid a tailwind from surging immigration.
A South Florida office skyscraper from Related Cos. landed new finance tenants, including a John Paulson business and a private equity firm that counts Mark Bezos as a founding partner.
Dec 3, 2020
Bloomberg News
,(Bloomberg) -- U.S. mortgage rates fell to a record low for the 14th time this year.
The average for a 30-year, fixed loan dropped this week to 2.71%, the lowest in data going back to 1971, Freddie Mac said in a statement Thursday. The previous record, 2.72%, held for two weeks.
Rates have been tumbling since March, fueling a homebuying boom and enabling current owners to save money by refinancing into cheaper loans. That’s made real estate a bright spot in the economy while other sectors have struggled to gain traction amid the pandemic.
The Federal Reserve’s plan to hold its benchmark rate near zero should keep a lid on mortgage costs for the foreseeable future. Still, the intense demand for a tight supply of homes has driven up prices, shutting some would-be buyers out of the market and threatening to slow the momentum of the housing rally.
“While homebuyer appetite remains robust, the scarce inventory has effectively put a limit on how much higher sales can increase,” Sam Khater, Freddie Mac’s chief economist, said in the statement. “Unfortunately, the record low supply combined with strong demand means home prices are rapidly escalating and eroding the benefits of the low-mortgage-rate environment.”
In a sign of a slowdown, a measure of contracts to buy previously owned homes fell for a second straight month in October, the National Association of Realtors reported this week.
©2020 Bloomberg L.P.