(Bloomberg) -- At some of the world’s biggest banks, loans to commercial real estate face new litmus tests that promise to shape the sector’s access to financing. Most Read from BloombergKey Engines of US Consumer Spending Are Losing Steam All at OnceHomebuyers Are Starting to Revolt Over Steep Prices Across USMnuchin Chases Wall Street Glory With His War Chest of Foreign MoneyNvidia Unveils Next-Generation Rubin AI Platform for 2026Global Banks Start Targeting a New Breed of Real Estate RiskAt
Australian home prices climbed at a brisk pace in May, posting the largest monthly gain since October, as a sustained squeeze on supply of affordable homes in most major capital cities continued to push prices up nationwide, data showed on Monday. Figures from property consultant CoreLogic showed national home prices rose 0.8% in May, the sixteenth straight month of growth, from April when it gained 0.6%. CoreLogic Research Director Tim Lawless said low supply had kept Australian housing prices largely insulated from the combined effect of high interest rates, cost of living pressures and deeply pessimistic consumer sentiment.
“To pay the higher property taxes, it just means we’ve got to take more money out of our investments when it comes time to hit those big bills,” Beverly McAdam said. It's one of several measures in states this year to limit, cut or offset escalating property taxes in response to complaints. “With assessed values skyrocketing over the past few years,” said Jared Walczak, vice president of state projects at the nonprofit Tax Foundation, “homeowners are clamoring for relief, and state policymakers are increasingly exploring ways to provide it.”