Banks Warn of Growing Energy-Related Risks in Mortgage Portfolios
Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
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Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
British Land Co. has sold its stake in Sheffield’s Meadowhall Shopping Centre, one of the largest shopping malls in the UK, to Norway’s sovereign wealth fund.
China’s latest housing initiative is aimed at vacant properties, a major pain point in a crisis that’s dragged on for almost three years. But analysts say the package of measures is still too small to end the rout.
Foreign buyers swooped in to purchase Chinese stocks on Friday as Xi Jinping’s government announced a slew of measures to bolster the housing market.
China’s property stocks need a sustainable turnaround in order to foster investor confidence that this year’s broader equities recovery can maintain, or even increase its momentum.
Jan 18, 2021
Bloomberg News
,New home construction fell in December from historically elevated levels but remains robust.
Home starts declined to 228,300 units last month on an annualized basis, down 12.6 per cent from a revised 261,200 units in November, Canada Mortgage and Housing Corp. said Monday in Ottawa. The overall number missed the 230,000 median forecast in a Bloomberg survey.
The new construction is a sign the country’s housing market is slowing somewhat but continues to benefit from historically low interest rates and robust demand.
“Homebuilding still looks set to remain more resilient than the overall economy in early 2021,” Katherine Judge, an economist at Canadian Imperial Bank of Commerce, said in a report to investors.
New construction of multi-family homes, which include condos and apartments, dropped 15 per cent, CMHC reported, while single-family starts declined six per cent. Overall housing starts fell in every province except Alberta and New Brunswick.