Latest Videos
The information you requested is not available at this time, please check back again soon.
Billionaires who built their fortunes rolling out wireless networks when debt cost almost nothing are seeing their wealth crimped by higher borrowing costs and caution among money managers on the outlook for the industry.
Above and beyond the obvious damage, wildfires levied a hidden cost on the finance industry: Mortgage lenders and investors lost more than $30 billion between 2020 and 2022, due to both accelerated defaults and prepayments following disastrous blazes.
Crown jewels including resorts and a gas station chain are up for grabs. Saudi Arabia mulls purchases.
(Bloomberg) -- China’s industrial companies’ profits fell in March as exports flagged and deflationary pressures persisted, suggesting the economy’s stronger-than-expected growth early this year might be tough to maintain.
New York Community Bancorp Inc. has had one of the most tumultuous quarters in recent banking history. Its first-quarter earnings will probably reveal more about impacts from the drama — and management’s plan to move forward.
Apr 2, 2019
, BNN Bloomberg
Home sales in the Greater Vancouver Area sank in March to their lowest level for that month in more than three decades.
There were 1,727 homes sold across the region last month, which was 31.4 per cent lower than a year earlier, according the Real Estate Board of Greater Vancouver (REBGV). However, last month’s sales increased slightly from February, when 1,484 were homes sold.
“Housing demand today isn’t aligning with our growing economy and low unemployment rates. The market trends we’re seeing are largely policy induced,” said REBGV President Ashley Smith in a release Tuesday. “For three years, governments at all levels have imposed new taxes and borrowing requirements on to the housing market.”
A number of government policy measures such as the Office of the Superintendent of Financial Institutions' B-20 mortgage stress test rules implemented in January 2018 and foreign home buyers’ taxes in Ontario and British Columbia are often credited with cooling the country’s once-hot housing markets.
“What policymakers are failing to recognize is that demand-side measures don’t eliminate demand, they sideline potential home buyers in the short term,” Smith added.
The amount of inventory increased year-over-year, with listings in Vancouver sitting at 12,774 in March, a 52.4 per cent increase from the same month the previous year.
When it comes to prices, homes in Vancouver are still among the priciest in the country, but have decreased since the same time last year. Indeed, Metro Vancouver’s composite benchmark price fell 7.7 per cent year-over-year last month to $1,011,200.
Related
