The wholesale disruption of COVID-19 is taking a toll on the real estate market. A new survey suggests that offices will remain under capacity for months, retail and hospitality will continue to struggle, and, despite some increases in single-family home values, real estate across the board will see its value fall around 10% next year.

These are some of the main findings of “Emerging Trends in Real Estate 2021,” a new report from the Urban Land Institute and PwC. Based on a survey of more than 1,600 leading real estate industry experts and interviews with more than 1,300, this 42nd annual edition of the report finds that the pandemic is going to continue to drive major changes in the way property is bought, sold, and used. Overall, the impact of the pandemic is broadly, but not universally, negative, the report notes.

“The real problems are isolated at this point to

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By Robert Hughes

Note: The Everyday Price Index for September is based on incomplete data due to restrictions on data collection by Bureau of Labor Statistics personnel because of the COVID-19 outbreak.

The AIER Everyday Price Index rose 0.2 percent for the month of September, faster than the 0.1 percent rise in the Consumer Price Index (on a not-seasonally-adjusted basis). The Everyday Price index has risen for five consecutive months through September, pushing the twelve-month change to 1.0 percent, the fastest pace since a gain of 2.1 percent for the twelve months through February.

The Everyday Price Index including apparel, a broader measure that includes clothing and shoes, rose 0.3 percent in September after increasing 0.2 in August. The Everyday Price Index including apparel has posted four consecutive gains from June through September 2020. Despite the gains, the index is up just 0.4 percent over the 12 months through

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TORONTO, Oct. 13, 2020 /CNW/ – Today, the Ontario Energy Board (OEB) announced new electricity prices for households and small businesses, effective November 1, under the Regulated Price Plan (RPP). The winter Time-of-Use (TOU) hours and the winter Tier threshold for residential customers, which were maintained for the summer 2020 period, will remain in effect on November 1.

The total bill for a typical residential customer who uses 700 kWh per month will increase by about $2.24 or 1.97%, after accounting for the bill relief provided by the Ontario Electricity Rebate (OER), a total (pre-tax) bill credit that appears at the bottom of electricity bills. The Ontario government has increased that rebate from 31.8% to 33.2% effective November 1, 2020.

The new TOU prices set by the OEB for November 1, 2020 are shown in the table below. The table also shows the hours to which

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Crude-oil futures finished Monday at their lowest price in a week, with production in Libya, Norway and the Gulf of Mexico set to recover.

Libya lifted force majeure at its largest oil field, producers began restoring output in the Gulf of Mexico following Hurricane Delta, and crude output in Norway looked to recover following the end of an oil-worker strike.

West Texas Intermediate crude for November delivery
CL.1,
+0.30%

fell $1.17, or 2.9%, to settle at $39.43 a barrel on the New York Mercantile Exchange. December Brent crude
BRN00,
+0.28%

lost $1.13, or 2.6%, at $41.72 a barrel on ICE Futures Europe.

Front-month WTI, the U.S. benchmark, and global benchmark Brent on Monday both marked their lowest settlements since Oct. 5, according to Dow Jones Market Data.

With the passing of the hurricane and the resolution of the strike in Norway, “investors are more concerned about the higher output in

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KEY POINTS

  • Every $1,000 increase in home price pushes 150,000 buyers away: Report 
  • Rental prices have dropped by 0.1% since last month: Report
  • Homebuying is currently led by people with jobs and equity

Rising demand for homes, unprecedented levels of mortgage rates and low supply have pushed home prices out of reach for prospective homebuyers, which could make America a ‘renter nation,’ Grant Cardone, a real estate investor, told Yahoo.

“Homeownership is still dead in this country because the only people that are buying homes right now are people that have equity, great credit, and a job,” Cardone said.

For every $1,000 increase in home price, 150,000 buyers are priced out of a possible home purchase, according to a recent report by the National Association of Home Builders (NAHB).

The fall season is known to be good for real estate as home prices fall during this time. Realtor.com, however, suggests

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TOKYO (Reuters) – Japanese wholesale prices fell 0.8% in September from the same month a year earlier, data showed on Monday, marking the seventh straight month of year-on-year declines and heightening the risk the country will slide back into deflation.

Squeezed mostly by soft global demand for commodities and Japanese machinery goods, the weakness in wholesale prices highlights the challenge Tokyo faces in cushioning the impact of the coronavirus pandemic on the world’s third-largest economy.

The 0.8% fall in the corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, was bigger than a median market forecast for a 0.5% drop. It followed August’s 0.6% year-on-year decrease.

Wholesale prices also slid 0.2% in September from August, marking the first on-month drop in four months, the data released by the Bank of Japan (BOJ) showed.

“With the global economy still reeling from the

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Gold bullion bars after being polished at the ABC Refinery in Sydney on August 5, 2020.


DAVID GRAY/AFP/Getty Images

Text size

Gold was up by close to 40% for the year when it hit a record high in August, but it has since nearly halved that gain, and some analysts say a move to fresh all-time highs in the final quarter may be out of reach for the precious metal.

“Gold has enjoyed a meteoric rise this year, hitting a record in early August on the back of a weak dollar and continued [Federal Reserve] support,” says Matt Orton, vice president at Carillon Tower Advisers. The Fed actions drove real rates lower, “making cash and Treasuries much less attractive, and gold a better alternative.”

Futures prices for the precious metal settled at a record $2,069.40 an ounce on Aug. 6. On Oct. 7, it settled at $1,890.80, up 24% year

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SINGAPORE – Oil prices dropped for a second straight session on Monday as U.S. producers began restoring output after Hurricane Delta weakened, while a strike that had affected production in Norway came to an end.

Brent crude LCOc1 for December fell 55 cents, or 1.3%, to $42.30 a barrel by 0023 GMT and U.S. West Texas Intermediate CLc1 for November was at $40.08 a barrel, down 52 cents, or 1.3%.

Front-month prices for both contracts gained more than 9% last week, the biggest weekly rise for Brent since June, but fell on Friday after Norwegian oil firms struck a wage bargain with labour union officials, resolving a strike that threatened to cut the country’s oil and gas output by close to 25%.

HURRICANE DELTA ROILS OIL RIGS, SQUEEZES GASOLINE PRICES

“We had good support for both Brent

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Crude prices moved higher this week, giving back some gains on Friday.

West Texas Intermediate on the New York Mercantile Exchange dropped 59 cents, or about 1 percent, Friday, to close at $40.60 per barrel. This compares to Monday, when prices jumped $2.17 to close at $39.22 per barrel. That was followed by a $1.45 gain Tuesday that put prices back above $40 a barrel. Prices fell to $39.95 Wednesday before closing at $41.19 Thursday. The posted price ended the week at $37 per barrel.

Natural gas prices on the NYMEX started the week off with an 18-cent jump and largely added to those gains, with the exception of a 9.5 cent drop Tuesday. Prices rose 11.4 cents Friday to close at $2.741 per Mcf.


Bloomberg reports prices were poised for a 10 percent gain for the week, the biggest since June, boosted largely by the approach of Hurricane Delta,

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NEW YORK (Reuters) – Oil prices slipped more than 1% on Friday after an oil worker strike in Norway ended, which should boost crude output even as Hurricane Delta forced U.S. energy firms to cut production.

Brent futures

fell 49 cents, or 1.1%, to settle at $42.85 a barrel, while U.S. West Texas Intermediate (WTI) crude

fell 59 cents, or 1.4%, to settle at $40.60.

Despite Friday’s price slide, both benchmarks gained about 9% this week, their first increase in three weeks and the biggest weekly rise for Brent since June.

Oil futures climbed earlier in the week due to concerns the strike in Norway and the hurricane headed for the U.S. Gulf Coast would cut crude output.

Norwegian oil firms struck a wage bargain with labour union officials on Friday, ending a 10-day strike that had threatened to cut the country’s oil and gas output by close to 25%

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