For prospective Canadian homebuyers, last year’s housing slump knocked about $72,000 off the price of a typical home. For billionaire Stephen Smith, who bought one of the country’s biggest alternative home lenders, it may have saved more than $200 million.
Democrat also called for creating a state cap-and-trade system
New Jersey Governor Phil Murphy proposed offering incentives to employers for establishing work-from-home and hybrid staffing policies in a bid to end the double taxation for residents who commute to New York City.
(Bloomberg) — South Korea’s largest-ever apartment complex risks turning from national milestone into financial millstone amid fears that sluggish sales might herald the kind of property slump that sends shockwaves through the economy and credit markets.
(Bloomberg) — Representative George Santos said he’s “done nothing unethical” as two House Democratic asked the Ethics Committee to investigate whether the New York congressman filed vague and possibly illegal financial disclosures.
Oil crept higher as broader risk-on sentiment helped traders overlook fears of tighter monetary policy from the Federal Reserve.
(Bloomberg) — New Jersey Governor Phil Murphy proposed expanding the number of liquor licenses in the state and providing shore towns with funding to help upgrade their boardwalks.
(Bloomberg) — House Republicans are refraining from making specific demands for federal spending cuts in exchange for raising the debt ceiling, offering a hint of flexibility that could allow Congress to avert risking a US payment default later this year.
(Bloomberg) — House Republicans seized on the discovery of classified documents at a private office used by President Joe Biden, demanding multiple probes of the incident even after defending Donald Trump’s alleged mishandling of hundreds of sensitive records.
The signs of a full-blown crisis were everywhere. Bitcoin was in free fall, hedge fund Three Arrows was blowing up and the fates of several high-profile crypto lenders were suddenly in doubt.
