Real eState
Calgary home sales reach new May record: real estate board – CBC.ca
The Calgary Real Estate Board says the market hit a new May record for sales as the number of properties that changed hands reached 3,120 last month.
The board says the sales amount to an almost two-per-cent increase from last May, when sales totalled 3,063.
Despite the record, year-to-date sales are still almost 30 per cent behind where they were last May and the board says the market has still not shifted completely away from the declines seen at the start of the year.
The board says it continues to see fewer new listings than last year, with the number of properties listed on the market last month dropping 15 per cent to 3,652.
The market’s benchmark price was up almost three per cent at $557,000, while the average price pushed up roughly six per cent to $551,853.
The board’s chief economist says the numbers reflect a higher interest rate environment and recent rental rate gains, which are driving more people to seek apartment and condo units.
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(Bloomberg) —
The troubles facing highly indebted property developers in China have dominated conversations about the Asian nation’s economy and markets this year. Yet according to Rayliant Global Advisors’ Jason Hsu, there’s an important distinction between this housing crisis and previous ones elsewhere: The developers are the ones who are over-leveraged—not households. And that difference is guiding policymakers’ response.Hsu, chief investment officer of Rayliant and a co-founder of Research Affiliates, joined the What Goes Up podcast to discuss China and other emerging markets. “Chinese households are not levered when it comes to real estate,” he says. “They’re not levered because they can buy their first home with money down—and they pay quite a bit money down—and they generally have to sort of have enough income to cover the payment. That bankruptcy you’re seeing in the developer sector is very engineered. On the household side, there’s not a balance-sheet crisis, because they’re not buying real estate on leverage. So they really don’t think there’s a meaningful problem there.”
Real eState
A judge found Trump committed fraud in building his real-estate empire. Here's what happens next – The Associated Press
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