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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: real estate

real estate stories: 128 news summaries

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Playgrounds of Rich and Famous Hit the Skids

What would Jay Gatsby say?

Mar 17, 09 9:20 AM CDT
(Newser) - Even crème de la crème communities are curdling in the current crisis, reports the Telegraph. Take the Hamptons, where nearly as many homes were being foreclosed last week as the number of places sold. Residents in the super-affluent towns on Long Island's east end are struggling to meet... More »

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real estate • New York real estate • New York • foreclosure • mortgage • Long Island • Hamptons • fiscal crisis

 Times Co. Sells HQ for $225M 

Debt-laden paper enters sale-leaseback with investment firm

Mar 9, 09 8:51 AM CDT
(Newser) - The New York Times Company has raised $225 million through a sale-leaseback of its Eighth Avenue skyscraper, it announced this morning. The deal gives investment firm WP Carey ownership of the Times' share of the Renzo Piano-designed headquarters, which the newspaper moved into in 2007. The company will then lease... More »

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real estate • New York real estate • New York Times • New York Times Company • New York Times building • newspaper industry • WP Carey • sale-leaseback

Analysis

 Housing Rebound 
 Unlikely in '09 


Mar 7, 09 10:27 AM CST
(Newser) - If you’ve been waiting for a housing recovery, keep waiting. This March-June, the season when most homes are typically bought and sold, promises to be the worst since the bubble burst in 2006, the New York Times reports. Some 19 million homes—nearly one of every seven nationwide—... More »

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real estate • housing market • home prices • housing sales

Spitzer Moves Into DC
Real Estate

Disgraced NY gov buys $180M office tower a block from tryst hotel

Mar 6, 09 5:48 AM CST
(Newser) - Eliot Spitzer is now working in real estate in the city where his downfall began, the Wall Street Journal reports. The ex-governor of New York has worked with his father's real estate company to buy an office block in Washington DC, only a block away from the hotel where he... More »

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real estate • Washington DC • sex scandal • Eliot Spitzer • governor • Mayflower Hotel • Ashley Dupre

 Virgin's Stores Go Way of Dodo 

In US

Mar 4, 09 9:57 AM CST
(Newser) - America's last six Virgin Megastores will close their doors by this summer, the AP reports, even though they’ve managed to remain profitable amidst the economic storm. The real estate firms that bought the chain in 2007 determined they could collect more rent from new tenants. “I’ve been... More »

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music industry • real estate • Virgin • economy

Obama Visit Shines Light on Florida's Gloomy Outlook

Prez follows long tradition of bemoaning Florida's unsustainability

Feb 10, 09 11:05 AM CST
(Newser) - When President Obama chose Fort Myers, Fla., to plug his stimulus plan, he magnified an already intense media glare on the state’s disastrous real estate market, reports the Miami Herald. The scrutiny continues in a long article in the current New Yorker—titled “Ponzi State”—and a... More »

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Florida • Barack Obama • real estate • foreclosure

 Lehman CEO 
 Sells Mansion to 
 Wife—for $100 

But Fuld's attempt to evade creditors may not work

Jan 26, 09 6:44 AM CST
(Newser) - The housing market is weak, but the $13 million mansion of fallen Lehman CEO Richard Fuld on the Florida coast fetched just $100 last November, reports Reuters. So who forked over the C-note for the seaside property? Fuld's wife Kathleen, famous for carrying her Hermès purchases in generic shopping... More »

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Florida • real estate • bankruptcy • Lehman Brothers • Richard Fuld • Kathleen Fuld

OBITUARY

Real-Estate Pioneer Crow Dead at 94

Turned single Dallas warehouse into international empire

Jan 16, 09 5:41 PM CST
(Newser) - Visionary real-estate developer Trammell Crow, who pioneered strategies that helped him become one of the world’s largest landlords, has died, the Dallas Morning News reports. He was 94 and suffered from Alzheimer’s disease. Crow, who helped popularize the concept of building on spec—erecting structures before they were... More »

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real estate • Dallas • obituary • real estate development • commercial real estate • Trammell Crow

 Foreclosures Soar 81% 

States where property prices spiked during boom now seeing highest foreclosure rates

Jan 15, 09 6:05 AM CST
(Newser) - Foreclosures rocketed 81% in the US during 2008, affecting one of every 54 households in the nation, reports Reuters. A total of 3.2 million foreclosures were filed, according to research firm Realtytrac. The hardest-hit states were Nevada, Florida, Arizona, and California, the same states where property prices surged the... More »

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real estate • foreclosure • mortgage • property • mortgage loans • homeowners

Bush Years Were Dark for US Economy

'We really went nowhere for almost 10 years,' says economist

Jan 12, 09 11:49 AM CST
(Newser) - The Bush years have not been good ones for the economy, the Washington Post reports, based on an analysis of economic data and discussions with economists of all stripes. Job growth for Bush’s tenure amounts to just 2%, the smallest 8-year gain on record, and GDP grew at... More »

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Bush administration • real estate • economic growth • recession • GDP • housing bubble • economy • job • George W. Bush

Jobs to Ditch Before the Recession Does It for You

Auto industry, real estate among worst fields

Jan 11, 09 4:56 PM CST
(Newser) - Want to keep your job this year? Steer clear of these professions, which a new study says will be hard-hit by the recession, Australia's News Network reports:
  • Car salesperson
  • Real estate agent
  • Investment banker
  • Prawn fisherman
More »

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real estate • employment • recession • unemployment • investment bankers • auto industry • job • financial crisis

GLOSSIES

Realtors Friend Facebook for Boost in Rough Market

Networking site is useful way reach out to friends—and to buy and sell properties

Jan 8, 09 12:11 PM CST
(Newser) - Facebook has been reviving more than long-lost friendships—it’s proving a useful tool for struggling real-estate agents, Daniel McGinn writes for Newsweek. Agents are increasingly using the site to promote themselves, pitch listings and keep track of potential clients. “I’m trying everything in a market like this,... More »

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social networking • real estate • marketing • Facebook • housing crisis

Chicago Real Estate Mogul Kills Himself

High-profile exec
led expansion
of Good family firm

Jan 7, 09 2:32 PM CST
(Newser) - A Chicago-area real estate mogul has been found dead after shooting himself in a wildlife preserve, CNN reports. Police say they don't know why 52-year-old Steven L. Good took his life; a rep said the local sheriff's department had no "concrete evidence if this had anything to do with... More »

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suicide • real estate • Chicago • housing crisis • Steven L Good

Housing Bust Makes Divorce Too Costly for Many Couples

Couples stick it out as tough market makes splitting too expensive

Dec 30, 08 9:47 AM CST
(Newser) - Breaking up is hard to do, but in a housing bust it can be well nigh impossible. With one in six homes worth less than the mortgage owed on it, couples on the skids are finding divorce plans scuttled by an inability to sell the marital home. And with job... More »

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divorce • real estate • housing market • home prices • home equity • housing bubble • divorce settlement • financial crisis

ANALYSIS

Clinton's Gains-Tax Break Pumped Up Housing Bubble

Eliminating levy on profit from home sales encouraged Americans to play the market

Dec 19, 08 11:18 AM CST
(Newser) - A tax break introduced by President Clinton and made law in 1997 helped fuel the housing bubble that eventually led to the current economic crisis, the New York Times reports. The cut, which allowed owners to sell their homes without paying capital-gains taxes on profits up to $500,000, created... More »

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real estate • Bill Clinton • capital gains tax • tax breaks • market bubble • housing bubble • financial crisis

Madoff Shakes NY Real Estate Industry

Scandal jeopardizes dozens of projects; loans may be called in

Dec 18, 08 7:19 AM CST
(Newser) - New York's once booming real estate industry has already been struggling with the recession, but the revelation of Bernie Madoff's $50 billion Ponzi scheme has hit commercial brokers and developers particularly hard. Deals across the city have been put in jeopardy, buyers have withdrawn pledges to purchase, and Madoff investments... More »

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real estate • New York real estate • Ponzi scheme • white collar crime • Bernard Madoff

FBI Circled Around Blago's Wife for a Year

She dropped real estate work amid questions about clients paying for influence

Dec 14, 08 7:28 AM CST
(Newser) - She's known for ranting on an FBI tape—but that wasn’t the first time Patricia Blagojevich’s name has surfaced in the corruption probe of her governor husband, the Chicago Tribune reports. A federal investigation that began a year ago prompted Mrs. Blago to quit real estate work amid... More »

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real estate • Tribune Company • corruption • Illinois • governor • Rod Blagojevich • political scandal • Patti Blagojevich

 Beverly Hills Turf War  
 Splits Wealthy Residents 

Residents of ritzy enclaves head to court over access, upkeep fees

Nov 19, 08 8:58 PM CST
(Newser) - A turf war has broken out between two upscale Beverly Hills enclaves, home to the likes of movie mogul Sumner Redstone and basketball legend Magic Johnson, the Los Angeles Business Journal reports. Residents of North Beverly Park got fed up with nannies and other employees of their South Beverly Park... More »

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real estate • Magic Johnson • Sumner Redstone • Beverly Hills • neighbors • gated community

GLOSSIES

 Young Americans Ride Out 
 Recession in Dubai 

Booming reality counters talk of bubble in Middle East's 'Manhattan'

Nov 17, 08 1:55 PM CST
(Newser) - Back in Texas, Brooke Butler’s friends are worrying about their homes and jobs. Butler has other worries. “I’m thinking it’ll take about 5 years to make a million now,” the 24-year-old saleswoman tells New York. “It’s not that difficult over here.” Here... More »

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real estate • Dubai • United Arab Emirates • luxury • bubble

 Manhattan 
 Real Estate 
 Prices Plummet 

News will only get worse, experts predict

Nov 9, 08 7:24 AM CST
(Newser) - Manhattan real estate is already taking a major hit from the economic crisis, reports the New York Times. Median property prices in Harlem are down nearly 20%, and east midtown condos have plunged more than 18%. The downturn will eventually rock even the toniest neighborhoods, experts predict. Sales have slowed... More »

MORE ABOUT:
real estate • New York real estate • New York City • Manhattan • financial crisis

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