Thousands face £10k mortgage blow in London

T Thousands of Londoners have been warned they are facing a major mortgage ‘shock’ with some paying an extra £10,000 a year as the Bank of England raises interest rates to tackle runaway inflation and restore confidence in the British economy. The warning came as Prime Minister Liz Truss and Foreign Minister Kwasi Kwarteng held … Read more

House prices to fall by as much as 15pc if interest rates hit 6pc

House prices will fall as much as 15 percent as higher interest rates slash buyers’ purchasing power, economists have warned, while the number of homes sold risks collapsing from 1.2 million. per year to just 800,000. This threatens to open a new £5bn hole in the Government’s finances, as years of rapid growth in stamp … Read more

In China, home buyers occupy their ‘rotting’, unfinished properties

GUILIN, China, Sept 26 (Reuters) – For six months, Xu’s home has been a room in a high-rise apartment in the southern Chinese city of Guilin, which she bought three years ago, lured by brochures. that promoted their views of the river. and the clean air of the city. Their living conditions, however, are far … Read more

Rising rates, price slump deal double blow to Hong Kong homeowners

An aerial view shows the Choi Hung public housing estate and other residential buildings with Lion Rock peak in the background, in Hong Kong, China, 3 June 2021. Photo taken on June 3, 2021 with a drone. REUTERS/Joyce Zhou Sign up now for FREE unlimited access to Record HONG KONG, Sept 22 (Reuters) – … Read more

Tech update: Clock ticking for Canada’s EV battery industry

As extreme weather fueled by climate change continues to wreak havoc, experts stress the need to move away from gasoline and diesel-powered vehicles. Electric vehicles (EVs), they say, will contribute significantly to the reduction of global greenhouse gases. A new report of two Canadian research groups say we have a short window to be a … Read more

U.S. home sales drop for 7th straight month, house price growth cooling

Existing home sales fall 0.4% in August The average price of housing increases by 7.7% compared to the previous year Housing supply at 1.28 million, unchanged from a year ago WASHINGTON, Sept 21 (Reuters) – U.S. existing home sales fell for the seventh straight month in August as affordability deteriorated further amid rising mortgage rates … Read more

New homes to be built with bars in windows to prevent tall people from falling out

Home builders are being forced to put steel bars in the first-floor windows of new houses because civil servants believe that increasingly taller Britons are more likely to fall to their deaths. Developers are criticizing new building safety regulations that mean they must make overly costly and onerous planning changes or install bars to comply … Read more

U.S. rents surge, leaving behind generation of younger workers

Sept 21 (Reuters) – The cost of renting a home in the United States is rising and young workers have felt the sharpest pain, many taking on side jobs or roommates to pay housing costs. Household rents in 2021 increased 10% from pre-pandemic levels, according to Census Bureau estimates released last week. The figures came … Read more

The Top Three Retail And E-commerce Trends Set To Shape 2023

E-commerce sales are down a lot, while shopping behaviors continue to change. for the drum Evolution of electronic commerce Deep Dive, the experts explain how space will evolve even further next year. The Covid-19 pandemic saw a huge spike in e-commerce growth, but since then a myriad of issues have created a historic drop in … Read more

Analysis: China’s mortgage boycott quietly regroups as construction idles

Surveillance cameras are seen near residential buildings under construction in Shanghai, China, July 20, 2022. REUTERS/Aly Song/File photo Sign up now for FREE unlimited access to Record BEIJING, Sept 19 (Reuters) – Two months after many Chinese homebuyers stopped paying their mortgages to protest stalled construction on their properties, a lack of progress in … Read more