The Bank of Canada's interest rate increase is expected to drive the damp housing market in the country to a complete chill and reinforce the view that property values will decline.
Home resales and prices have been tumbling since the central bank embarked on a series of rate increases as it seeks to arrest inflation. The latest of these was an increase of a full percentage point - more than the consensus estimate of 75 basis points - pushing its benchmark interest rate to 2.5 per cent from 1.5 per cent. It is the fourth consecutive interest rate increase since March, and the first time the bank has raised its rate by a full point since 1998.
Esta historia es de la edición August 2022 de Construction Philosophy.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición August 2022 de Construction Philosophy.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
NEW PLASMA BORING ROBOT
Plasma Boring Robot can dig tunnels 100 times faster and 98% cheaper
Span Floors launches 'Serene Summer'
Span Floors, a leading brand of wooden flooring in India, has introduced a new collection of summer flooring called the Serene Summer.
ALSTONE ALCOMB
ALSTONE India Launches Futuristic and Revolutionary
DIGITAL TECHNOLOGY AND ITS RELEVANCE IN DESIGN
With the complexity of designs that we witness worldwide today, a digital uprising is very critical.
Office leasing rose 3-fold across India in June 2022 quarter
A good 60% of the homebuyers in the country say that faced many challenges while acquiring property and as much as 40% of them also encountered issues after getting possession of their homes, according to a new survey.
Real Estate Crisis Goes Out of Control
Home sales in China have collapsed by nearly 60% compared to a year ago, and the current constant decline of sales (11 months) is pegged to be the worst in Chinese history.
Rate hike to further slow housing market
Fourth consecutive BoA is threatening rate increase by to drive up cost of borrowings and result in a sharp slump in the housing market.
Massive housing shortage across the U.S.
America has fallen 3.8 million homes short of meeting housing needs, which includes both rental housing and homes meant for ownership.
CASE Construction Equipment appoints Sunil Puri as MD, India & SAARC Operations
CASE Construction Equipment India Ltd, a brand of CNH Industrial has appointed Mr. Sunil Puri as Managing Director, India.
Anirban Gupta joins Colliers as MD, Kolkata
Leading diversified real estate professional services and investment management firm Colliers has appointed Anirban Gupta as the Managing Director of Kolkata to drive the organization's growth in East India.
