Housing Market

Canada's Senate passes budget, greenlighting measures on housing, Russian assets


OTTAWA Canada's Senate on Thursday passed Prime Minister Justin Trudeau's budget, adopting a long list of measures including a two-year ban on foreign home buyers and the power to confiscate and sell assets seized in response to Russia's invasion of Ukraine.

Canada's Trudeau says we're watching rising interest rates 'with concern'

OTTAWA Canadian Prime Minister Justin Trudeau on Tuesday said his government was watching rising interest rates "with concern," when asked about the impact higher borrowing costs are having on housing affordability in the country.

Jun 14 2022

Governor: U.S. wants revisions to New York congestion pricing plan

WASHINGTON Governor Kathy Hochul said on Thursday the Biden administration is seeking changes in a long-planned congestion pricing plan for New York City that could further delay implementation of a system designed to reduce traffic in Manhattan and provide funding to improve mass transit.

Jun 09 2022

Shanghai to conduct mass COVID testing in 7 of its 16 districts at weekend

BEIJING The Chinese commercial hub of Shanghai will carry out mass testing for COVID-19 in seven districts over the weekend, a local health official said on Thursday.

Jun 09 2022

Czech ministry summons Russian ambassador over diplomatic properties

PRAGUE (Reuters) -The Czech Foreign Ministry summoned Russia's ambassador on Tuesday to express concerns about the use of Russian diplomatic properties.

May 31 2022

Shanghai city to lift lockdown restrictions on June 1

SHANGHAI Shanghai authorities will lift the city's two-month long lockdown from midnight on Wednesday, allowing private cars including taxis back on to the roads and people to freely move in and out of low-risk housing compounds.

May 30 2022

U.S. pending home sales dive to two-year low in April

WASHINGTON Contracts to buy U.S. previously owned homes dropped to a two-year low in April, the latest indication that rising mortgage rates and higher prices were dampening demand for housing.

May 26 2022

China’s real estate renovation is too cosmetic

HONG KONG (Reuters Breakingviews) - China’s ailing property sector is proving to be a tough repair job. The sluggish economy and pandemic-related lockdowns have only increased the degree of difficulty. Policymakers are digging deeper into the toolbox, but a lack of faith in the industry’s foundations make it harder to rebuild.

May 25 2022

Manhattan return-to-office plans face persistent headwinds over COVID, safety

NEW YORK Efforts by financial firms and others to bring workers back to Manhattan offices more than two years after the start of the coronavirus pandemic face persistent headwinds, consultants said, with commuters still worrying about COVID-19 as well as safety.

May 24 2022

Factbox-Leading candidates, policy promises in Canada's Ontario election

Ontario, Canada's most populous province, will hold an election on June 2 with incumbent Progressive Conservative leader Doug Ford favored in the polls.

May 19 2022