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20.07.26 - 14:00
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Chinese immigrants emerge as pivotal players in Canada′s property market amid foreign ban (SCMP)
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Mainland Chinese immigrants were estimated to have bought as much as C$5.7 billion (US$4 billion) worth of homes in Canada last year, making them a key group of non-local investors propping up the residential property market, according to one estimate.
Ottawa barred most foreigners from purchasing homes in 2023 to cool soaring prices, initially imposing the restriction for two years before extending it until 2027.
The ban, however, exempted students, foreign workers and permanent residents.
“A......
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19.07.26 - 22:06
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Fossil fuels, utilities and housing: what we know about Andy Burnham′s plans (The Guardian)
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Incoming prime minister has set out distinctly leftwing vision while also promising to be pro-businessAs an incoming prime minister promising huge change, one of the strongest criticisms Andy Burnham has faced so far is that he has failed to provide the details of what he plans to do.The new Labour leader, who will be made prime minister on Monday, has thus far set out a distinctly leftwing vision, while also pledging to be “pro-business”. Continue reading......
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19.07.26 - 10:30
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Why China must end the lucrative marriage between property and banks (SCMP)
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Capital seeks sanctuary. In China's property sector, however, that quest for safety had inadvertently erected a cage. The recent government takeover of Wuhan-based private lender Zhongbang Bank, expected to see a dilution of its private capital amid serious credit risks, is a calculated regulatory action. It echoes a larger and darker precedent.
A few years ago, another commercial lender, Shengjing Bank, became caught up in the Evergrande debt crisis. There was speculation property developer......
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