Fresh Stimulus Propels Emerging Markets to Fourth Week of Gains
Emerging-market currencies dipped Friday on dwindling optimism over Federal Reserve rate cuts, paring their fourth-straight week of gains.
Latest Videos
The information you requested is not available at this time, please check back again soon.
Emerging-market currencies dipped Friday on dwindling optimism over Federal Reserve rate cuts, paring their fourth-straight week of gains.
The owner of a historic office building in Manhattan’s Financial District has filed bankruptcy to sell the property, which has been subject to foreclosure and suffered from a lack of tenants due to the Covid-19 pandemic.
Deutsche Bank AG has entered a capital-relief deal with the European Investment Bank that allows the German lender to grant discounts on more than €600 million ($652 million) of green mortgages in its home market.
A unit of Abu Dhabi’s Mubadala Investment Co. said it anticipated a roughly $315 million credit hit related to loans issued to the now-insolvent Signa real estate conglomerate.
The Teranet-National Bank composite house price index which tracks home prices in 11 of Canada's largest cities remained stable from March to April.
Apr 26, 2021
Bloomberg News
,For the first time in more than 15 years, it’s cheaper to buy a new house than a previously owned dwelling.
The premium for newly built homes vanished last month as low supply fueled price increases in the broader market and erased the discount traditionally associated with older properties.
The median sales price of a previously owned single-family home rose to US$334,500 in March, the latest National Association of Realtors data show. Meanwhile, new properties sold for a median US$330,800, according to a government report, marking a reversal in the differential for the first time since June 2005.
Prices -- which can vary widely each month depending on the composition of properties sold -- increased on a year-over-year basis, but the gains were much larger for older houses. That resale prices have risen so sharply reflects an historically low level of properties available: There were 900,000 existing homes for sale last month, down more than 30 per cent from a year ago.
The number of new homes sold and awaiting the start of construction, meanwhile, climbed to the highest level since September 2006. That’s a sign that builders have their work cut out for them as demand far exceeds supply.