Bloomberg Scorching prices in Canada’s top housing markets are unlikely to see declines because the major drivers are beyond the reach of traditional monetary policy, according to Bank of Montreal’s top economists. “Monetary policy can’t do anything about the inferno,” according to the draft of a report led by Douglas Porter, the bank’s chief economist . “None of the ...

  Bloomberg Berkeley Group Holdings Plc said reservations for new homes dropped 20 percent in the five months through May after the developer offered fewer projects for sale ahead of the U.K.’s vote on membership of the European Union next week. The shares fell. “After such strong market conditions for our industry, transaction levels in both the second-hand and new-homes ...

  Bloomberg In 2005, George Fontini, a co-founder of Mudd Jeans, had recently sold the business for a reported $45 million to Iconix Brand Group and was looking for something to do. “A friend was doing real estate out here,” Fontini said, “and talked to me about a property [in Amagansett, Long Island]. I came out, looked at it, loved ...