Mike Cagney’s Figure Technology Taps Tannenbaum as Its New CEO
Figure Technology Solutions Inc. tapped Michael Tannenbaum as its new chief executive officer, ahead of the financial-services firm’s potential initial public offering.
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Figure Technology Solutions Inc. tapped Michael Tannenbaum as its new chief executive officer, ahead of the financial-services firm’s potential initial public offering.
Sales of new homes in the US bounced back broadly in March as an abundance of inventory helped drive prices lower.
Hong Kong developer Lai Sun Development Co. is considering options for a planned office tower in the City of London, including a potential sale of a stake in the project.
Germany’s financial regulator BaFin is taking a closer look at the real estate used by lenders to secure covered bonds known as Pfandbriefe, a €400 billion market traditionally considered among the safest in credit.
Taylor Wimpey Plc is failing to see lower mortgage rates translate into higher levels of home sales and is maintaining its forecast for fewer deals in 2024.
Jan 28, 2021
Bloomberg News
,U.S. new-home sales rose in December for the first time in five months, capping the best year since 2006 and signaling that record-low mortgage rates continue to drive demand for a sector that’s been a bright spot in the economy.
Purchases of new single-family houses increased 1.6 per cent to an 842,000 annualized pace in December from a downwardly revised 829,000 rate in the prior month, government data showed Thursday. The median projection in a Bloomberg survey called for 870,000. The median price rose 8 per cent from a year earlier to US$355,900.
Housing has helped drive the U.S. economic recovery, fueled by cheap borrowing and buyers looking for more space during the pandemic. While the strength continued in December, a lack of affordable homes and a sluggish job market may be starting to limit the strength in the sector.
For the full year, sales climbed to 811,000, the best level in more than a decade, according to the report, which is released jointly by the Census Bureau and Department of Housing and Urban Development.
Other data in recent weeks show the housing market strengthened in December. Housing starts recently rose to the best pace since late 2006, while existing homes saw unexpected strength.
Federal Reserve Chair Jerome Powell on Wednesday cited real estate as a bright spot in the economy even as other sectors have cooled. “The housing sector has more than fully recovered from the downturn, supported in part by low mortgage interest rates,” he said in a briefing after the latest gathering of policy makers.
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