While home ownership has always been the American dream, there are millions of families in the United States who believe home leasing is equally dreamy. In fact, the National Rental Home Council (NRHC) indicates that there are more single-family homes for rent—at 23 million—than there are apartment units at 20 million. Recent statistics from the…
Are Oral Statements Binding in Real Estate Transactions?
Dear Monty: Are oral statements binding in real estate transactions? The seller requested 30 days after close. She moved out before closing and has a new residence. At closing, she made a verbal agreement with everyone in the room. The title officer, both real estate agents, and I heard her say she would be out…
Australian Housing Borrowing Booms, Regulators Ready New Lending Rules
SYDNEY—Australian home lending in August expanded at its fastest annual pace since early 2018 as buyers borrowed ever more to get into a red-hot market, foreshadowing tougher rules from regulators concerned at the mounting risks to financial stability. Figures from the Reserve Bank of Australia (RBA) on Thursday showed outstanding home loans rose 0.6 percent…
China’s Debt Crisis Goes Far Beyond Evergrande
September 28, 2021
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AnalysisChinaChina Business & EconomyChina's foreign debtevergrandeoff-balance-sheet lendingOpinionreal estateThinking About China
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Analysis China’s foreign debt, including U.S. dollar debt, stood at $2.4 trillion at the end of 2020, a 4 percent increase from the previous quarter. The country’s corporate debt, combined with household debt, now exceeds 300 percent of GDP. The U.S.-China trade war, along with the pandemic lockdowns, have slowed the economy. The CCP hopes…
Chinese Property Debt Issuers Face ‘Evergrande Premium’ as Worries Mount
Analysis HONG KONG—As uncertainty looms over cash-strapped China Evergrande Group, seizing up China’s junk bond market, pressure is building on its peers to access fresh funding to repay notes worth nearly $300 billion due over the next two years. Once its top-selling developer, Evergrande now looms as one of China’s largest-ever restructurings as a crackdown…
The Best Way to Interact With the City Assessor
Dear Monty: What is the best way to interact with the city assessor? Can you guide us on market value versus assessed value? More specifically, what factors dictate assessed value? When we purchased our house, the real estate agent went to great lengths informing us that the potential for the market value to rise is…
Boston’s Famous Skinny House Sells for a Nice Fat Price
BOSTON—Boston’s famous Skinny House has sold for a nice fat price. The home in the city’s North End hit the market in August for $1.2 million, and the deal was closed Thursday for $1.25 million, according to Zillow. The home “received multiple offers and went under agreement for over list price in less than one…
Price of Kansas Farmland up More Than 10 Percent
The price of farm real estate and cropland in Kansas has risen more than 10 percent in the past year. “There are many reasons for the current increase in farm real estate and cropland values, such as historically low-interest rates, improved farm economy, increased demand of farmland for urban use and other outside investments,” Dean…
Market Watchers Warns of China Property Giant Evergrande’s Debt Crisis Again
Rating agencies, citing default risk, have further downgraded China’s housing giant Evergrande after the company disclosed the extent of its financial problems. Experts have warned of impacts on the country’s broader property industry and banks. Rating agency S&P further downgraded Evergrande to “CC” from “CCC,” with a negative outlook on Sept. 15, citing reduced liquidity and…
Evergrande Credit Rating Downgraded Again, Default Could Send Shocks Through China
September 16, 2021
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Asia & PacificBusiness & EconomyChinaChina Business & EconomyChinese economyCompaniesEconomiesevergrandereal estateWorld
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Rating agencies have further downgraded the credit rating of troubled Chinese housing giant Evergrande after the company disclosed the full extent of its financial problems. An expert has warned that a default could send shocks through the country’s property and banking industry. On Sept. 15, U.S. rating agency S&P further downgraded Evergrande from “CCC” to…
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