Country Garden Holdings Co.’s Fengming Haishang residential development in Shanghai, China, on Tuesday, July 12, 2022. Qilai Shen | Bloomberg | Getty Images Shares of beleaguered Chinese real estate company Country Garden Holdings slumped to an all-time low on Friday as the company issued a profit warning a day earlier. The stock fell to an
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Pictured here are residential buildings developed by Country Garden Holdings Co. in Baoding, Hebei province, China, on Tuesday, Aug. 1, 2023. Qilai Shen | Bloomberg | Getty Images BEIJING — Two years after Evergrande’s debt troubles, worries about China’s real estate sector are coming to the forefront again. Country Garden, one of the largest non-state-owned
A man enters a Bank of America branch in New York. Scott Mlyn | CNBC As if higher mortgage rates weren’t enough, it was harder even to qualify for a mortgage in July than it has been in a decade, according to the Mortgage Bankers Association. Its monthly index measuring credit availability dropped in July
A ‘For Sale’ sign is posted in front of a single family home on October 27, 2022 in Hollywood, Florida. Joe Raedle | Getty Images Mortgage rates have been holding at high levels for several weeks now, and that is taking its toll on homebuyers. The Mortgage Bankers Association reports the average contract interest rate
Home prices are on a tear again across much of the nation after falling for much of last year. That means giving back to homeowners the equity they lost. Home prices in June hit record highs in 60% of U.S. markets, according to a new report from Black Knight, set to be released Monday. Its
Former U.S. President and Republican presidential candidate Donald Trump looks on as he speaks during a campaign rally in Erie, Pennsylvania, July 29, 2023. Lindsay Dedario | Reuters The independent financial monitor for the Trump Organization told a New York judge she identified issues of incompleteness and inconsistency in certain disclosures to lenders and others
Japan’s salary and benefits packages for expats remained the highest in Asia, a new report has found. The average expatriate package in Japan costs employers $370,183, according to “MyExpatriate Market Pay” survey by data company ECA International. That’s however 12% lower than last year, due to the weak Japanese yen, which has fallen 9% this
International buyers are pulling back from the U.S. housing market, as high mortgage rates, soaring home prices, a meager supply of homes for sale and a strong dollar all make the purchases much less financially attractive. From April of last year to this March, international buyers bought roughly 84,600 homes; that’s the lowest number
One of the key reasons renters are getting caught in the crossfire of the mortgage rates is that it is increasing rental demand, said Oliver Knight, head of residential development research at real estate firm Knight Frank. Oscar Wong | Moment | Getty Images LONDON — Mortgage rates are soaring in Britain, and many are
In this article JPM Follow your favorite stocksCREATE FREE ACCOUNT Country Garden canceled its share placement shortly after midnight, a report by IFR revealed, citing bookrunner JPMorgan. Future Publishing | Future Publishing | Getty Images Hong Kong-listed shares of Country Garden fell 5.06% on Tuesday, following multiple reports that the Chinese real estate developer had scrapped its
Tourists at the Bund on July 11, 2023 in Shanghai, China. Vcg | Visual China Group | Getty Images Chinese stocks soared Tuesday as Beijing pledged to ramp up measures to bolster China’s sputtering economy. Hong Kong’s Hang Seng Index surged more than 3%, China’s tech-heavy ChiNext rose 1.8% and the Shanghai Composite Index increased
A house is for sale in Arlington, Virginia, July 13, 2023. Saul Loeb | AFP | Getty Images Home prices in May rose for the fifth straight month on the S&P CoreLogic Case-Shiller home price index, but regional differences are widening. The gains come despite a sharp jump in mortgage interest rates during the month.