Bottom’s Up: This Real-Estate Rout May Be Short-Lived A few years ago, an acquaintance sent Wellesley College economist Karl “Chip” Case a T-shirt depicting a cartoon of a smiley-face house surrounded by soap bubbles, called “Mr. Housing Bubble.” But it was the words captured in a comic-book cloud on the shirt that gave this otherwise …
Monthly Archives: July 2008
Condo buyers struggling for closure amid credit squeeze
Condo buyers struggling for closure amid credit squeeze Ronald Cowan thought he’d be living the high life in Las Vegas, rubbing elbows with sports stars and celebrities who frequent hip places like ghostbar, Rain, Playboy Club and the Pearl concert hall at the Palms. Cowan plunked down $132,000 for a deposit at Palms Place, the …
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Condo owners can be caught up in market downturn
Condo owners can be caught up in market downturn When the real estate market boomed between 1995 and 2005, speculation ran rampant. Property “flippers” were rolling over huge profits, selling their contracts for condos in new buildings before they were even built. Just like the game of musical chairs, the music stopped and someone was …
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From Russia — With Cash
From Russia — With Cash The Russians are coming. As many of America’s wealthy are roiled by the credit crisis and general financial gloom, a growing number of rich Russians are house-shopping — and buying — in costly U.S. enclaves. Fertilizer mogul Dmitry Rybolovlev is set to pay nearly $100 million to Donald Trump for …
Florida builder goes green in a big, big way, designing a luxury mansion that’s eco-friendly — OrlandoSentinel.com
Florida builder goes green in a big, big way, designing a luxury mansion that’s eco-friendly With an asking price of $29 million, the 15,000-square-foot seaside mansion real estate “artist” Frank McKinney is building south of Palm Beach will have every luxury imaginable. And a projected utility bill of $800 a month. The bargain bill — …
Start-Up Banks: ‘Hog-Wild’ to Humble [South Florida]
Start-Up Banks: ‘Hog-Wild’ to Humble [South Florida] The future looked bright when several small banks decided to open in this city along the Gulf of Mexico. Property values in southwest Florida were surging, and older start-up banks had sold themselves for handsome profits after just a few years in business. Now, though, for-sale signs dot …
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