Homeowners with variable-rate mortgages are cutting back on household spending and planning to look for a second job, according to a survey by the Bank of Canada (BoC). The central bank said on June 30 that higher interest rates have weighed heavily on the finances of Canadians, with the impact “more acute” for homeowners with…
Homeowners Cutting Back on Spending, Plan to Look for Second Job: Bank of Canada Survey
Chinese Banks See Surge in Bad Loans Amid Real Estate Woes
China’s major banks are grappling with a surge of non-performing loans (NPLs) since last year, largely driven by a weakening real estate sector. As of the end of 2022, the NPL balance of 40 listed Chinese banks climbed by 8.84 percent to 1.81 trillion yuan (approximately $262.3 billion), while the NPL ratio slightly slid by…
It’s Cheaper to Buy Than to Rent for Over a Third of Australian Properties
July 16, 2021
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Buying is now cheaper than renting in over one-third of Australian properties, aided by eight months of record low-interest rates, property researcher CoreLogic found. The company’s analysis showed that it is cheaper to repay home loans than to rent for 36.3 percent of Australians properties, up from the 33.9 percent reported in Feb. 2020. CoreLogic…
Total Value of Australian Homes Surpasses $8 Trillion
May 6, 2021
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The red-hot Australian housing market has broken another record as the total value of the residential real estate has reached an estimated $8.1 trillion (US$6.2 trillion) in April, property analyst CoreLogic revealed. “This puts Australian residential property at around four times the size of Australian GDP and around $1 trillion more than the combined value…
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