German Real Estate Firm Adler Reaches Agreement With Lenders
Troubled German real estate firm Adler Group SA has reached a non-binding agreement with bondholders, according to a company statement released on Thursday morning.
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Troubled German real estate firm Adler Group SA has reached a non-binding agreement with bondholders, according to a company statement released on Thursday morning.
The deep freeze that’s gripped Europe’s real estate markets since borrowing costs jumped worsened at the start of the year as deals plunged to their lowest levels since 2011.
Investors are looking for the next policy domino to fall in Asia amid an escalating campaign against a resurgent dollar, after Indonesia used a surprise interest rate hike to defend the rupiah.
Vietnamese billionaire Pham Nhat Vuong pledged to invest at least another $1 billion of his personal wealth into VinFast Auto Ltd., providing the capital needed for expansion of the struggling electric vehicle maker.
Macrotech Developers Ltd., a real estate firm that operates under the brand name Lodha, expects pre-sales to grow about 20% in the year to March after reporting its highest ever quarterly revenue.
Jul 23, 2018
Bloomberg News
,(Bloomberg) -- Sales of previously owned U.S. homes unexpectedly fell in June, indicating a shortage of affordable listings and rising prices continue to limit demand, a National Association of Realtors report showed Monday.
Key Takeaways
While inventories rose, affordability remains a constraint for prospective buyers, especially younger Americans or those entering the market for the first time. There is a persistent shortage of available listings to choose from, while property prices are outpacing wages. In addition, borrowing costs have also increased this year.
Official’s View
"This is an indication that possibly the lows in inventory may be coming to an end," Lawrence Yun, NAR’s chief economist, said at a press briefing accompanying the report. "We have to wait and see whether this is just a one-month thing."
Other Details
(Updates to add further data in Other Details section and adds chart.)
To contact the reporter on this story: Shobhana Chandra in Washington at schandra1@bloomberg.net
To contact the editors responsible for this story: Scott Lanman at slanman@bloomberg.net, Jeff Kearns
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