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New Zealand House Prices Extend Decline as Borrowing Costs Bite
New Zealand house prices fell for a third straight month in June, pressured by high interest rates that are forcing buyers to the sidelines.
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New Zealand house prices fell for a third straight month in June, pressured by high interest rates that are forcing buyers to the sidelines.
Banco Santander SA sold its stake in a credit and real estate partnership it had with Intrum AB as it simplifies management of its assets.
US mortgage rates climbed back above 7% last week, driving a decline in applications to finance home purchases.
S&P Global Ratings cut troubled Swedish landlord SBB to selective default after the real estate company initiated an exchange of its bonds for new securities at a deep discount.
Owning a house is less affordable for average earners in the US than at anytime in 17 years.
Mar 15, 2021
Bloomberg News
,(Bloomberg) -- David Marriott, whose grandfather founded what would become the world’s largest hotel company, has joined the board of directors of Marriott International Inc. in anticipation of assuming the role of chairman next year.
Marriott, 47, will step down from his position in the company’s U.S. full-service hotel division in anticipation of that move, according to a statement today from Marriott. He joined the company in 1999 and has held a variety of positions since then.
The company announced last year that Executive Chairman Bill Marriott, whose father founded the company in 1927, planned to shift to the role of chairman emeritus in 2022. David, who is Bill’s son, is expected to become chairman then.
The company is seeking to bounce back from its worst year ever with a new chief executive officer. New boss Tony Capuanotook charge in February following Arne Sorenson’s death after a battle with pancreatic cancer.
©2021 Bloomberg L.P.