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Canada’s housing market posted a surge in the number of properties available for sale, one of the biggest monthly gains in listed inventory on record, as homebuyer demand waned amid persistently high interest rates.
US homebuilder sentiment declined in May for the first time in six months as mortgage rates above 7% kept buyers on the sidelines and weighed on expectations.
Canada Mortgage and Housing Corp. says the annual pace of housing starts in April edged down one per cent compared with March.
Michael Cohen came under cross-examination Tuesday by Donald Trump’s lawyer, who sought to undermine his earlier testimony that he participated in a hush money scheme to help the former president influence the 2016 election.
Morgan Stanley struck a deal to buy roughly $700 million of property loans made by the failed Signature Bank from a group including Blackstone Inc., Canada Pension Plan Investment Board and Rialto Capital, according to people familiar with the matter.
Dec 5, 2019
, Bloomberg News
Chinese investment in U.S. commercial property is plunging as restrictions on capital leaving the country and geopolitical tensions weigh on real estate deals.
Chinese investors put US$1.4 billion into U.S. commercial real estate in the 12 months through September, a 76-per-cent plunge from a year earlier, according to a report from Real Capital Analytics. Investment from Hong Kong was also down in the period.
“Chinese investors have become net sellers as authorities in China have restricted speculative outbound investment,” Jim Costello, senior vice president at Real Capital Analytics, wrote in the report.
In the 12 months through September, foreign investors were net sellers of U.S. commercial real estate, according to Real Capital Analytics. That’s after six consecutive years of gains in cross-border acquisitions.
While Chinese investors are avoiding U.S. deals, there was an uptick in capital from countries including Germany, Turkey and South Korea.
In September, China’s Anbang Insurance Group Co. agreed to sell a portfolio of luxury hotels in the U.S. to South Korea’s Mirae Asset Management Co. for US$5.8 billion.
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