Commentary America’s housing market faces increasingly powerful crosscurrents. On the one side, low mortgage rates buoy both buying and pricing. The recent increase in inflation reinforces this lift, as it makes low rates that much more attractive, and many see real estate as a hedge against the inflation. On the other side, rising house prices…
Euro Zone Housing Cost May Be Adding More to Inflation Than Thought: Holzmann
November 5, 2021
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Business & EconomyCompaniescostECBeconomic policiesEconomieseuroEuropehousinginflationRobert HolzmannWorld
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VIENNA—Housing costs may be adding more to euro zone inflation than once thought, European Central Bank policymaker Robert Holzmann said on Friday, weighing in on a key issue that has been a focus of policymakers this year. When asked how much owner-occupied housing costs could increase headline inflation, Holzmann, Austria’s central bank chief, said it…
Home Price Growth Remains Near Record Highs: Reports
Two new reports show that U.S. home prices continued their skyward vault in August, as supply shortages and strong demand combined to keep buying pressure elevated. Single-family home prices across the United States rose at a record 19.84 percent annual pace in August, slightly above the July rate of 19.75 percent, according to the S&P…
China Rolls Out Property Tax in Tackling a Real Estate Bubble
October 23, 2021
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Asia & PacificBusiness & EconomyChinaChina Business & EconomyEconomieshousingMarket Watchproporty taxreal estateWorld
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Beijing is levying a long-resisted property tax in some Chinese regions to guide house-buying as the regime seeks to tame a growing housing bubble. The Standing Committee of China’s rubber-stamp legislature on Oct. 23 authorized the State Council to start taxing property owners. The scheme will last five years, and the State Council will determine…
China to Roll out Property Tax in Bid to Tame Surging Prices
October 23, 2021
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Asia & PacificBusiness & EconomyChinaChina Business & EconomyEconomieshousingMarket Watchproporty taxreal estateWorld
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Beijing is levying a long-resisted property tax in some Chinese regions to guide house-buying as the regime seeks to tame real estate speculation. The Standing Committee of China’s rubber-stamp legislature on Oct. 23 authorized the State Council to start taxing property owners. The scheme will last five years, and the State Council will determine pilot…
US Housing Starts Fall; Permits Hit One-Year Low as Shortages Bite
WASHINGTON—U.S. homebuilding unexpectedly fell in September and permits dropped to a one-year low amid acute shortages of raw materials and labor, strengthening expectations that economic growth slowed sharply in the third quarter. The report from the Commerce Department on Tuesday also showed housing completions hitting a 13-month low. It followed on the heels of news…
Evergrande Risks Are ‘Controllable,’ China’s Central Bank Says
October 15, 2021
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Asia & PacificBusiness & EconomyChinaChina Business & EconomyCompaniesevergrandehousingInvestmentMarketsreal estateWorld
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The debt crisis plaguing China Evergrande Group is “controllable” and unlikely to spill over, the country’s central bank said on Oct. 15 amid growing fears that its potential collapse could trigger a global domino effect. With over $300 billion worth of liabilities, Evergrande is the world’s most indebted real estate developer. The company has missed…
Evergrande Risks Are ‘Controllable,’ China’s Central Bank Says Amid Growing Fears
October 15, 2021
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Asia & PacificBusiness & EconomyChinaChina Business & EconomyCompaniesevergrandehousingInvestmentMarketsreal estateWorld
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The debt crisis plaguing China Evergrande Group is “controllable” and unlikely to spill over, the country’s central bank said on Oct. 15 amid growing fears that its potential collapse could trigger a global domino effect. With over $300 billion worth of liabilities, Evergrande is the world’s most indebted real estate developer. The company has missed…
Chinese Developer Misses Payment Amid Deepening Housing Market Woes
October 5, 2021
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A midsize Chinese property developer’s failure to make over $300 million in payments to lenders is deepening fears of turmoil in the real estate sector in the world’s second-largest economy, where the country’s top-selling developer is teetering the edge of collapse. Fantasia Holdings Group, a Shenzhen-based developer, missed paying $206 million worth of bonds that…
Homeless Recovery Advocate: New Skid Row Housing Project ‘Could Be Triggering For Those in Recovery’
When Los Angeles broke ground on the new Weingart Towers housing project in Skid Row on Sept. 28, many Los Angeles officials, including Mayor Eric Garcetti, touted the move as one of the most “comprehensive solutions to homelessness,” also crediting Proposition HHH, a 2016 ballot initiative that partially funded the project. A total of $48…
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