Real Estate

  Bloomberg May was the biggest month for Toronto new home prices in 27 years. Prices in Canada’s largest metropolitan area rose 1.9 percent in May, and were up 6.4 percent from a year earlier. Nationally, home prices rose 0.7 percent in May, the largest monthly increase since 2007, Statistics Canada reported last week. The data adds to evidence that ...

  Bloomberg A leading US banking regulator wants lenders to do more to manage their exposure to commercial real estate. As property lending accelerates, the Office of the Comptroller of the Currency — which oversees American banks alongside the Federal Reserve Board and the Federal Deposit Insurance Corp. — is actively monitoring banks’ stress tests and risk-management practices, Comptroller Thomas ...

  Bloomberg At first glance, it’s hard to find much new to worry about in JPMorgan Chase’s second-quarter earnings report. Most of the important numbers beat estimates, although those estimates dropped like crazy before the report as the outlook for interest rates this year went from lower-for-not-much-longer to lower-for-who-knows-maybe-forever. Still, loan growth was robust and credit quality trends appeared to ...

Bloomberg China’s real estate sector grew faster than the overall economy in the second quarter as new home purchase restrictions in the biggest cities failed to deter buyers. Economic output by real-estate brokers surged 8.8 percent from a year earlier in the April-to-June period, while construction activities jumped 7.3 percent, data from the National Bureau of Statistics showed this week. ...

  Bloomberg Soaring home prices in Vancouver and Toronto won’t keep the Bank of Canada from cutting rates to stimulate the economy, if it comes to that. That’s the takeaway from an interview Bank of Canada Governor Stephen Poloz gave the Wall Street Journal after the release of the central bank’s policy decision, in which it left its benchmark rate ...

  Bloomberg Blackstone Group LP agreed to buy a 32 percent stake in Swedish residential landlord D. Carnegie & Co. AB from three of the company’s biggest shareholders. Blackstone, through its subsidiary Vega Holdco Sarl, will acquire the shares in the Stockholm-based company for 100 Swedish kronor ($11.8) each, Blackstone said in a statement this week. This will give the ...

  Bloomberg Canam Group Inc. fell the most in 20 months after the Canadian construction company announced an extra C$32 million ($25 million) expense due to revised cost estimates for one of its projects. Canam, builder of the retractable roof for the Arthur Ashe Stadium in New York, plunged as much as 12 percent, the most since October 2014, to ...

  Bloomberg Axel Stawski is not the kind of real estate mogul who boasts about the size of his towers. The developer owns six Manhattan office buildings, one of the largest being 565 Fifth Ave., a 380,000-square-foot (35,000-square meter) property completed in 1993 on the corner of 46th Street. At 30 stories, it’s not one of New York’s tallest skyscrapers. ...

  Bloomberg UK construction is on course to shrink for a second straight quarter and economists are warning of worse to come after Britain voted to leave the European Union. Building output fell 2.1 percent in May, almost double the decline forecast in a survey of economists, figures from the Office for National Statistics showed this week. There were falls ...

  Bloomberg One consequence of Brexit could be that more London properties end up in foreign hands. That’s the ironic product of Britain’s decision to exit the European Union — an outcome predicated in part on a desire to reduce immigration to the UK. Investors pulling money from UK property funds out of fear that real estate values will fall ...