1. U.S. Home Price Growth Slows
2. Messi’s REIT Completes Spanish IPO
3. China on Track to Meet 5% GDP Growth Target
4. Mazda’s U.S. Sales Set for Record High
5. Miami Waterfront Land Sells for $520 Million
6. Brad Pitt and Angelina Jolie Settle Divorce After 8 Years
7. Signs of Stability in China’s Housing Market
1. U.S. Home Price Growth Slows
The S&P Case-Shiller Home Price Index rose 3.6% year-over-year in October, down from 3.9% in September, as buyers gained more bargaining power.
While the 30-year mortgage rate briefly dipped below 6%, it quickly rebounded. However, despite higher borrowing costs, an increase in both new and existing home supply has provided buyers with more options and negotiation leverage.
Home prices in the 20 largest U.S. cities increased 4.2% year-over-year in October, down from 4.6% in September, with the New York metro area leading the gains at 7.3%.
A senior official at S&P Dow Jones Indices stated that after the election results, reduced economic uncertainty has led to improvements in both the stock and housing markets.
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2. Messi’s REIT Completes Spanish IPO
According to its prospectus, soccer star Lionel Messi’s real estate investment company, Edificio Rostower Socimi, has gone public in Spain as a Real Estate Investment Trust (REIT), with a portfolio valued at €223 million.
Rostower reported losses in both 2022 and 2023. The company owns seven properties, including hotels, retail spaces, and residential units.
Although Messi was born in Argentina and currently plays for a Miami-based team, he has spent most of his life in Spain. REITs in Spain benefit from lower tax rates.
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3. China on Track to Meet 5% GDP Growth Target
According to Xinhua News Agency, President Xi Jinping stated at a New Year event on Tuesday that major risks have been effectively addressed, with stable employment and inflation, and that China’s GDP is expected to grow by around 5% in 2024. Key economic support policies will continue into 2025.
President Xi also noted that 2025 will mark the completion of China’s 14th Five-Year Plan, with more proactive and effective policies to be introduced.
China is set to announce its official 2025 GDP growth target in March next year.
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4. Mazda’s U.S. Sales Set for Record High
Japanese automaker Mazda expects to deliver 420,000 vehicles in the U.S. this year, a 16% year-over-year increase, marking the highest level since 1986.
North America President Tom Donnelly stated that Mazda aims to deliver 250,000 vehicles in 2025.
According to Kelley Blue Book, U.S. vehicle sales are expected to reach 15.9 million units in 2024, a 2.3% year-over-year increase.
Mazda’s U.S. sales have surpassed those of BMW and Mercedes but remain lower than Subaru, Kia, and Nissan. The company’s best-selling model in the U.S. is the CX-5 compact SUV.
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5. Miami Waterfront Land Sells for $520 Million
Apartment Investment & Management Co. (AIMCO) announced the sale of a prime waterfront site in Miami’s financial district, covering 4.25 acres.
According to AIMCO’s regulatory filing, the buyer is a company managed by Oak Row Equities, which will pay $520 million—surpassing hedge fund billionaire Ken Griffin’s $363 million land purchase in 2022.
AIMCO stated that the site’s zoning, shape, and waterfront location make it a rare asset.
New York- and Miami-based Oak Row manages $2 billion in assets.
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6. Brad Pitt and Angelina Jolie Settle Divorce After 8 Years
On Monday, Hollywood actor Brad Pitt and his ex-wife Angelina Jolie finally reached a divorce settlement, bringing an end to their eight-year legal battle.
Jolie, 49, and Pitt, 61, were married for 12 years and have six children together.
In 2016, Jolie filed for divorce after accusing Pitt of physically assaulting her and their children during a private jet flight from Europe to the U.S.
Over the past eight years, four of their children have reached adulthood, eliminating custody disputes.
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7. Signs of Stability in China’s Housing Market
In December, home sales in China remained largely unchanged year-over-year, signaling market stabilization.
China’s 100 largest developers reported total new home sales of ¥451.4 billion in December, flat from a year ago but up 24.2% from November.
However, for the full year, top developers saw a 28.1% year-over-year sales decline, steeper than the 16.5% drop in 2023.
Over the past three months, China has introduced several measures to support the housing market, including mortgage rate cuts, relaxed home-buying restrictions, and lower property transaction taxes.
China Index Holdings predicts that housing markets in major cities will continue to recover in the short term.
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This content is sourced from Financial Times, Bloomberg, and The Real Deal, among other financial news outlets.