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FRIDAY, NOVEMBER 27, 2009
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NEWS ABOUT: luxury homes

luxury homes stories: 6 news summaries

(Newser) - It’s a tale of two housing markets out there. While low and mid-priced homes are enjoying a resurgence, high-priced residences are languishing unsold, their prices falling rapidly, the Wall Street Journal reports. “We’re extremely oversupplied,” says a real estate agent in an affluent Illinois town,... More »

MORE ABOUT:
real estate • housing market • Federal Housing Administration • real estate values • luxury homes • Timothy Geithner • jumbo mortgages

Stanford Had
a Castle, Fleet
of Planes

Paternity-suit docs reveal lifestyle of the rich and fraudulent

Feb 20, 09 1:59 PM CST
(Newser) - Say this for Sir Allen Stanford: He knew how to live large. The alleged fraudster once lived in his own Florida castle, complete with moat, and owned, among other baubles, $100 million worth of airplanes, Bloomberg reports. Those assets and others are detailed in court documents from a paternity case... More »

MORE ABOUT:
fraud • luxury travel • private jet • luxury homes • Robert Allen Stanford • Louise Sage Stanford

Foreclosures Soar on
Homes Over $1M

Foreclosures on million-dollar homes way up since last year

Sep 27, 08 5:38 PM CDT
(Newser) - The housing crisis, having wreaked havoc on low- and middle-income homeowners, is moving into the mansion set. Foreclosures on $1 million plus homes have almost doubled since last year, MSNBC reports, and more than doubled for homes over $2 million. The reasons are familiar: layoffs in the executive and professional... More »

MORE ABOUT:
foreclosure • seizure • millionaires • housing crisis • payments • luxury homes • valuation

GLOSSIES

 Rich Turn to Pimping Basements 

Media rooms, arcade games, full gyms making downstairs space not so musty

Jul 29, 08 9:29 AM CDT
(Newser) - Basements are no longer the lowly underbelly of the high-end home. With the rise of home-theater technology, and widespread community opposition to mansion expansion, wealthy homeowners are increasingly turning basements into underground playgrounds, Portfolio reports, featuring everything from faux-'50s diners to recording studios to saunas. “Whether you have a... More »

MORE ABOUT:
wealth • home renovation • homeowners • luxury homes • basement

 Peek at Perks in $2B Mansion 

Mumbai mogul plans 27-story abode

May 3, 08 1:43 PM CDT
(Newser) - The world's fifth-richest man, Mukesh Ambani, beat the competition with plans to build the first billion-dollar home to grace this earth, Forbes reports. In fact, his 27-story high-rise in India will cost $2 billion when it's done next year. Some of its frills:
  • Nine elevators dot the lobby.
... More »

MORE ABOUT:
skyscraper • billionaire • Mumbai • rich • luxury homes • Mukesh Ambani

 Slump Stings Vegas 
 McMansion Owners 

Curious aspect of swelling home inventories: unsold palaces

Apr 8, 08 2:13 PM CDT
(Newser) - The housing crisis has caused the number of homes for sale across the country to grow, but in Las Vegas, brokers are dealing with an unusual aspect of swelling inventory—an excess of $1 million-plus listings. Although they're luxury properties with pools and excesses of polished marble, those constructed more... More »

MORE ABOUT:
real estate • housing market • Las Vegas • Nevada • housing crisis • inventory growth • luxury homes • McMansion

6 Stories


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