After two years leading the Commerce Department’s U.S. and Foreign Commercial Service (USFCS), Assistant Secretary for Trade Promotion Suresh Kumar announced his decision today to return to the private sector.The USFCS, which is part of Commerce’s International Trade Administration, is a global network of trade specialists with offices across America and in more than 70 countries around the world. The organization’s job is to help connect U.S. companies looking to sell their products overseas with foreign buyers.
KARL SMITH has written a provocative blog post this morning musing on the potential return of a housing bubble. The conditions for stabilisation in housing markets are right, he says; rents are rising and the new home pipeline is remarkably bare. Price stabilisation is unlikely to be a stable equilibrium, though:Once prices stabilize the incentive to begin massively expanding credit to potential borrowers will be enormous and is likely to reignite.
VANCOUVER — Large Wall Street investors who made billions when the U.S. housing market collapsed in 2008 are now betting real estate values in Vancouver and other Canadian cities will crash, financial insiders say.
The hedge fund investors, known as short sellers, are betting against what they believe is a housing bubble in Vancouver, Toronto, Calgary and other Canadian cities. They believe Canadians hold too much mortgage debt, and that Canadian banks, mortgage insurers and “subprime” private lenders will lose money on unpaid loans when property prices fall.
Pengrowth Energy Corp. and Canadian Natural Resources Ltd. are likely buyers of Korea National Oil Corp.’s Canadian oil and natural gas properties as the state-run company retreats from the country it once made a cornerstone of its global expansion.
Canadians are invading Manhattan.
The country’s largest real estate investors have bought a record US$3.85 billion in property this year in the New York city borough and spent more than any other foreign country in the last decade, according to data from Real Capital Analytics Inc.
Subdued headline inflation hides the inimitable rise of prices across the country; but ConvergEx's Nick Colas examines the pace of inflation in four large cities across the US – Boston, Chicago, New York and San Francisco. All are home to multitudes of urban working professionals, share the same currency and have similar macro economies, though, Colas notes, the trend of price increases varies considerably (particularly with regards to NYC vs.