European banks retreat from U.S. property sector

2011-12-22T07:01:02Z

NEW YORK (Reuters) - In September, German bank Eurohypo and developer Forest City Enterprises Inc were negotiating a $65 million loan for 9 MetroTech, part of a 11-building office campus in Brooklyn

Best crisis investor I know is buying this right now

2011-12-21T19:30:18Z

Publicly-traded company produces food and owns a portfolio of world-class commercial real estate

"The best transactions are done when everybody stops and is paralyzed," Eduardo Elsztain said in an interview at the New York Stock Exchange this week.

Eduardo is the best crisis investor I know...

Eduar...

Home sales hint at recovery after deep slump

2011-12-21T09:00:42Z

WASHINGTON (Reuters) - Homes sales surged in November, adding to hints of recovery, but revisions to data for the last four years showed the housing recession was much deeper than previously thought.

The National Association of Realtors said on Wednesday that sales of previously owned...

Existing home sales jump in November

2011-12-21T08:30:15Z

WASHINGTON (Reuters) - Sales of previously owned homes surged in November, but revisions to data for the last four years showed the housing recession was deeper than previously thought.

The National Association of Realtors said on Wednesday existing home sales increased 4 percent mont...

After real estate collapse, deals - more like steals - abound

2011-12-06T02:30:40Z

What if I told you I could offer you a two-bedroom, two-bath condo in Summerlin - well, basically Summerlin - for the price of an Acura MDX: Is that something that would interest you?

ItÕs the opportunity of a lifetime. WeÕve heard this before from the real estate pitchmen. In 2006, you couldnÕt lose because prices would never go down. In 2007, you were lucky to be getting in...

China's Ordos property bust offers warning sign

2011-12-02T06:00:10Z

ORDOS, China (Reuters) - The monumental, neo-Mongolian sculptures, empty plazas and hulking concrete shells of buildings in Ordos district, deep in the steppes of Inner Mongolia, are a potent symbol of how China's property boom can turn to bust.

Off the back of a thriving coal industry, the local govern...

As North Dakota winter begins, temporary housing not ready

2011-12-01T20:30:12Z

(Reuters) - Temperatures have dropped to well below freezing and the snow is falling around Minot, North Dakota, where many residents displaced by a massive summer flood still await federal temporary housing.

A deadline of finishing the housing by early November has passed and still about a quarter of the 2,300 temporary units remain to...

Exclusive: Trulia hires PayPal executive as CFO

2011-12-01T03:00:14Z

(Reuters) - Real estate website Trulia Inc said on Thursday it hired veteran finance executive and deal-maker Sean Aggarwal from eBay Inc's PayPal to help manage a business that has grown significantly in the ...

A shift urged in use of tax credits

2011-11-26T02:30:13Z

Under plan, abandoned homes could be fixed up

Five years ago, with low-income housing scarce and apartments being converted by the hundreds into condominiums, the poor and elderly in Southern Nevada struggled to find places to rent. It made sense for the federal government, partnering with the state, to encourage construction of rental housing.

Yet since the Reuters) - In a dispute pitting big business against consumer groups, the Supreme Court hears arguments Monday on whether a person has to suffer legal harm to sue a company over an alleged kickback it got.

Cleveland home buyer Denise Edwards sued her title insurance company under a 1974 federal real estat...

IPOs stoke San Francisco housing market

2011-11-25T07:30:25Z

SAN FRANCISCO (Reuters) - Adam Holm has been looking to sell his three-bedroom Victorian house in San Francisco's Potrero Hill neighborhood all year, but he needs one thing to happen first: gaming-company National ...

China property market dip may have global impact

2011-11-14T19:31:01Z

China's property market, a mainstay of the world's second-largest economy, has started to suffer a downturn that could have a knock-on effect on global trade in commodities, analysts warn.

Housebuying demand has fallen across China after authorities, fearing a property bubble, banned second home purchases in places including Beijing, increased minimum down payments and trialled prop...

Shattered dreams haunt life in Spanish ghost towns

2011-11-10T16:30:34Z

"A town to live in!" boasts the faded sign in the Spanish town of La Muela, overlooking a new road.

The irony is bitter.

Only one building lines the road, an isolated survivor of Spain's calamitous 2008 property bubble collapse.

"We are victims of the property slump because if it was not for that, all this would be built," said 29-year-old computer specialist Samuel Caravallo from his tidy living room i...

Senators unveil bill to spark covered bonds

2011-11-09T14:30:13Z

WASHINGTON (Reuters) - A bipartisan group of senators on Wednesday introduced legislation designed to create a market for covered bonds, instruments that offer banks a way to raise money for new mortgages.

The legislation, introduced by two Democrats and two Republicans, would set up a regulatory framework for covered bonds.

The instruments...

Chinese cities fret as land sales fall

2011-11-04T12:00:28Z

CHANGSHA, China (Reuters) - Just last year, the government's land auction center in this sprawling city buzzed with activity, with investors fighting to buy plots in the town center and pushing prices to record highs.

Now, the center is eerily quiet, as moves by the national government to r...

Cuba to permit buying, selling of real estate

2011-11-03T15:30:28Z

HAVANA (Reuters) - Cuba's government has given Cubans the right to buy and sell their homes for the first time since the early days of the 1959 revolution in a long-awaited reform that creates a real estate market and promises to put money in people's pockets.

The reform, published on Thursday in the governme...

A voice for action on mortgage crisis

2011-11-01T02:30:55Z

For months the housing crisis was the issue every politician would rather ignore. But in a matter of days, distressed housing has become the subject of candidates' solution-making — though the solutions may not be the type Nevadans were asking for.

President Barack Obama's administration last week released a plan to help more homeowners manage their mortgage payments. But by the time

China premier urges vigilance against inflation

2011-10-23T01:30:05Z

China's Premier Wen Jiabao has called for more steps to fight stubbornly high inflation, especially surging food and housing prices which could threaten social stability, state media reported.

High inflation has persisted despite government moves to rein in soaring food and housing prices, which officials fear could spark social unrest as citizens grow angry at higher costs.

The benc...

Singapore prepared to build 100,000 flats to meet demand

2011-10-19T17:30:58Z

Singapore has the resources to build "more than 100,000" public residential flats in the next five years to meet demand and stabilise prices, the country's top housing official said Wednesday.

The remarks by National Development minister Khaw Boon Wan came amid complaints from citizens about runaway housing prices, a major issue in parliamentary and presidential ...

States order return of $14.1 billion to investors: NASAA

2011-10-19T11:30:19Z

(Reuters) - State securities regulators ordered wrongdoers to return a total $14.1 billion to investors in 2010, a 200 percent spike from $4.7 billion in 2009, according to a recent survey.

The surge was largely due to settlements between state regulators and many brokerage firms that required the repurchase of auction rate securities from customers, said the

Goldman unit sued for canceling Lehman sale deal

2011-10-06T16:30:18Z

NEW YORK (Reuters) - A unit of Lehman Brothers Holdings Inc sued an affiliate of Goldman Sachs Group Inc , saying it used pretextual excuses to avoid closing on a real estate purchase worth at least $385 m...

INSIGHT: Humbled Dubai looks to real economy, Arab world

2011-10-05T07:30:53Z

DUBAI (Reuters)- Nearly two years after it was forced to go cap in hand to neighbor Abu Dhabi for a bailout, a chastened Dubai has ringfenced vulnerable assets, forced banks to bolster reserves and deferred debt maturities.

A more modest approach to business -- in contrast with the excesses of its ear...

Vietnam's once-hot property market cools

2011-10-04T20:30:46Z

Four years after a real estate boom that saw investors camp out on the streets waiting to pay cash for unbuilt apartments, Vietnam's once-hot property market has caught a chill.

High inflation and interest rates along with a government-imposed credit squeeze have led to a fall in prices and other incentives to entice residential buyers, while office tenants benefit from a glut of space, experts say.

"The market is really, really, ...

US housing prices still weak in July: Case-Shiller

2011-09-27T11:30:34Z

US housing prices picked up in the traditionally hot-sales month of July over June, but not enough to say the market was recovering from its four-year slump, new data showed Tuesday.

Prices across 20 major urban areas rose 0.9 percent in July, but when adjusted for seasonality, they were flat, and still 4.1 percent lower than a year earlier, according to the S&P/Case-Shiller Home Price Indices.

The trend ...

S&P sees liquidity strain for China developers

2011-09-27T01:30:07Z

HONG KONG (Reuters) - China's property developers are facing increasing liquidity pressure over the next six to 12 months and tightening credit conditions may see some cut prices, Standard and Poor's said on Tuesday.

Niche players that develop high-end properties ...

Analysis: Greentown woes reveal risks in China property boom

2011-09-26T22:30:05Z

HANGZHOU/HONG KONG (Reuters) - China is moving to choke off funding avenues to developers across the country, tightening or eliminating credit options in a bid to slow the rampant property market and bring down prices without sending the broader economy into a crash.

The latest salvo in HANOI (Reuters) - Like many hoping for easy cash in Vietnam's property market, Nguyen Thu Huong borrowed 500 million dong ($24,000) from a bank in April to buy a new flat she didn't need and planned to flip. The only question, she thought, was how big the profit would be.

Five months later, she is lucky i...

Paris cracks down on short-term apartment rentals

2011-09-22T06:00:07Z

PARIS (Reuters) - Paris, one of the world's most-visited cities, is cracking down on short-term apartment rentals, dealing a blow to tourists looking for a bargain and entrepreneurial landlords hoping to recoup soaring property costs.

The allure of living in a Paris pied-à-terre for a week or month, and paying much less than for a hotel roo...

Machinery tycoon tops China rich list

2011-09-07T09:30:41Z

A machinery tycoon topped a list of China's richest people released on Wednesday, as the world's second biggest economy continues to create dollar billionaires despite the global crisis.

Many of those on the list compiled by the Hurun Report -- which publishes luxury magazines and runs a research institute -- made their money in China's construction and property sectors, as wel...

Hong Kong land sale falls short in cooling market

2011-09-06T08:30:47Z

A Hong Kong land sale Tuesday failed to meet expectations, suggesting a continuing cool-down of the territory's red-hot real estate market, with analysts saying equities volatility played a key role.

The city has been struggling to control rising housing prices, the government's major headache, stirring growing disquiet among a seven million-strong population over the rocketing cost of owning a home.

A 13,393-square-metre (144...

Study warns of housing 'crisis'

2011-08-30T12:31:35Z

Britain's housing market is "in crisis" and the government must urgently act to increase the supply of homes, a study warned on Tuesday.

Only 63.8 percent of homes in England will be owned by their occupiers in a decade's time as more and more people are locked out of the housing market, according to the Reuters) - Wells Fargo & Co, JPMorgan Chase & Co and Lone Star Funds were the winners of the $9.5 billion pool of U.S. commercial real est...

White House may back proposal to refinance mortgages: report

2011-08-25T06:30:11Z

BANGALORE (Reuters) - The Obama administration is working on proposals to prop up the weak housing market and may back a plan to refinance government-backed mortgages at today's lower interest rates, the Reuters) - When Sean McGowan signed a contract to buy a New Jersey home in November, he didn't expect he'd still be living with his parents nearly a year later.

The deal fell through after two appraisals came in tens of thousands of dollars below the...

New-home sales weaken further

2011-08-24T02:31:00Z

Construction is at a minimum, keeping economic recovery at bay

In the category "Best of Times, Worst of Times" comes this update from a housing analyst:

Las Vegas is on pace to sell more than 45,500 existing homes in 2011, which would make it the fourth-best year ever. But new-home sales will have one of the worst years in more than two decades. For both resale and new homes, prices are dropping ...

Israel agrees 277 new settlement homes

2011-08-15T11:30:30Z

Israeli Defence Minister Ehud Barak has given the green light to build 277 new homes in the Ariel settlement of the occupied West Bank, his office said on Monday.

"Defence Minister Ehud Barak last week approved the marketing of 277 housing units in the Neuman district in Ariel," it said, referring to a sprawling settlement deep inside the northern West Bank.

Arie...

UNLV's dream of an on-campus stadium is the ultimate Hail Mary

2011-07-30T02:30:24Z

Bobby Hauck wishes he was walking through a construction site at UNLV, wearing a hard hat and clutching blueprints that he struggles to decipher.

He's more than ready to rearrange his hectic schedule to grab a shovel for a groundbreaking ceremony. He's been thinking about it constantly since the winter, when an on-campus stadium for his foot...

Lehman plans deals to sell property, move loan management

2011-07-27T14:00:32Z

NEW YORK (Reuters) - Lehman Brothers Holdings has made a preliminary deal to sell most of a commercial real estate property in Rosslyn, Virginia, to a

Commercial real estate will write the last chapter Las Vegas has the highest percentage of distressed commercial real estate in the country. Development is typically the last thing to rebound in a down economy

2011-07-27T02:32:23Z

Distressed out city Las Vegas has the highest percentage of distressed commercial real estate in the country. Development is typically the last thing to rebound in a down economy

Nearly a year ago, Las Vegas real estate developer Donald Romano, 74, and his wife, Barbara, were found dead in their Summerlin home. Police called the case a murder-suicide. The tragedy came about a month after Romano lost po...

72,000 square-foot mansion being built in Missouri Ozarks

2011-07-24T14:30:12Z

KANSAS CITY, Mo (Reuters) - Now, here's a second home to stretch out in. A Virginia man is building a 72,000 square-foot house in the Missouri Ozarks with 13 bedrooms, 14 bathrooms and other features that could include a library, music room, theater and a ga...

Gabon buys Ted Kennedy's home for $6.5 mln

2011-07-22T17:30:19Z

Gabon has bought the Washington mansion of the late senator Ted Kennedy, the real estate agent who handled the sale said Friday.

The white mansion with six bedrooms, seven bathrooms, five fireplaces, an indoor swimming pool and a gym kitted out with equipment selected by

From big boxes to empty spaces

2011-07-21T02:30:49Z

The news that Borders Books will liquidate doesn't just bring the loss of four big bookstores in the valley, public spaces where people could browse, relax and maybe even socialize with a neighbor.

The demise of Borders also indicates the flagging fortunes of the suburban big-box store model of development. In Henderson, the closed Borders will be just down Stephanie Street from the old

Vancouver real estate prices fanned by Chinese

2011-07-19T02:30:58Z

Its quality of life is routinely ranked among the best in the world, but that's only one reason Vancouver real estate prices are red hot.

Wealthy Chinese anxious to raise their families in the West are bidding up the city's limited number of properties in fashionable West Vancouver, sending prices in the city soaring more than 50 percent in the past three years...

Chicago mayor to lay off workers to plug budget gap

2011-07-15T11:30:12Z

CHICAGO (Reuters) - With Chicago still facing a lingering deficit in its current budget, Mayor Rahm Emanuel unveiled on Friday a series of steps that will lead to up to 625 layoffs.

The steps include the privatization of custodial services at city libraries and airports, benefits services an...

Formula 1 heiress buys for $85 million Hollywood mansion

2011-07-15T10:31:04Z

NEW YORK (Reuters Life!) - British heiress Petra Ecclestone, whose billionaire father is Formula 1 CEO Bernie Ecclestone, has purchased a The trade organization National Association of Realtors (NAR) recently banned discrimination based on sexual orientation

The trade organization National Association of Realtors (NAR) recently banned discrimination based on sexual orientation.

The group's new anti-discrimination policy, approved last year and in effect since January 1, prohibits a relator membe...

China to extend home purchase restrictions

2011-07-14T13:30:37Z

China on Thursday pledged to extend limits on new home purchases to smaller cities as authorities step up efforts to cool the country's red-hot real estate market.

The State Council, or cabinet, said it would tighten existing property restrictions in cities that have seen excessive price rises to push them "back to reasonable levels".

"Now is a critical moment for property curbs. (We) must not swerve or relax the strength of enforceme...

World commercial property Q2 sales up 47 percent: study

2011-07-12T13:00:07Z

NEW YORK (Reuters) - Global commercial real estate sales rose 47 percent in the second quarter from a year earlier to $101 billion and are on track to reach or top $440 billion for the year, according to a report by real estate services firm Jones Lang LaSalle Inc .

At $49 billion, direct invest...

Rep. Frank backs higher Fannie, Freddie loan limits

2011-07-11T10:30:13Z

WASHINGTON (Reuters) - Congress should permanently extend increased loan limits on mortgages backed by Fannie Mae and Freddie Mac that are set to expire, the top Democrat of the Dario Conca will report for duty with Guangzhou Evergrande next week as the Super League's most expensive player.

Conca, who signed with Evergrande on July 2 for in a $10 million transfer fee, will meet the press after his Monday arrival in Guangzhou...

Exclusive: Exeter buys industrial property portfolio

2011-07-07T10:00:12Z

NEW YORK (Reuters) - Exeter Property Group, a real estate private equity firm, has bought a portfolio of 19 industrial buildings, primarily in Indiana and Tennessee, for about $240 million, reflecting investor demand for U.S. warehouse and distribution centers, the ...

Trump inaugurates Latin America's tallest building

2011-07-06T19:30:32Z

US tycoon Donald Trump marked his entry into Latin American real estate Wednesday with the Panama City opening of his 70-story luxury resort, the tallest building in Latin America.

The sail-shaped structure, soaring 284 meters (932 feet) into the sky, is a resort and residential address that added to a real estate bo...

Global private equity funds raise $11.2 billion: data

2011-07-04T08:30:12Z

LONDON (Reuters) - Private equity real estate funds focused on the North American property market hogged the lion's share of the $11.2 billion raised by those with a final close in the second quarter of 2011, research firm Preqin said.

Total commitments were up on the $8.9 billion raised in the first quarter, and on the $7.1 billion raised in fourth-quarter 2010, Preqin said on Monday.

Tycoon pumps $77 million into Chinese football game

2011-07-04T03:30:09Z

A Chinese real estate tycoon is to pump $77 million into football in China to invigorate the sport following a series of dismal results for the national team and a damaging graft scandal.

Under a three-year deal signed Sunday, Wang Jianlin, chairman of Dalian Wanda real estate company, agreed to hand over 500 million yuan to the CHICAGO (Reuters) - Chicago Mayor Rahm Emanuel on Friday outlined a plan to fill $20 million of a $31 million budget gap but said city unions will have to help plug the rest.

Emanuel, President Barack Obama's former chief o...

Investors revel as housing looks for bottom

2011-07-01T09:30:33Z

NEW YORK (Reuters) - Tony Alvarez recalls his doubts as he contemplated the wrecked, two-bedroom foreclosed house up for sale 30 years ago with his real estate agent's reassuring hand on his shoulder.

It was Alvarez's first venture into a real estate investing career and he didn't know the difference between a good investme...

Instant View: April home prices dip, spring buying helps

2011-06-28T06:30:27Z

NEW YORK (Reuters) - U.S. single-family home prices dipped modestly in April, pointing to signs of stabilization in the battered housing market at the start of the spring buying season, a closely watched survey said on Tuesday.

COMMENTS:

MIKE FEROLI, ECONOMIST, JP MORGAN, NEW YORK:

"Within the seasonally adjusted number, there is cause for s...

ABANDONED projects left in recession's wake

2011-06-28T02:31:11Z

¶It wasn't long ago that hotels, high-rise condominiums and massive retail and office complexes sprang up in Southern Nevada seemingly faster than one could drive from one end of the valley to the other. Take that same drive today, though, and you'll likely see vestiges of the Great Recession: partially built structures with exposed foundations or steel beams — or building wraps to hide the evidence — that represen...

Nazi propaganda chief's waterfront estate up for sale

2011-06-23T07:00:39Z

BERLIN (Reuters Life!) - The former Berlin waterfront estate of Adolf Hitler's propaganda chief Joseph Goebbels is going under the hammer.

The bidding for the 1.5 acre (6,440 sq m) islan...

S&P downgrades China property developers

2011-06-15T08:30:20Z

Standard & Poor's on Wednesday downgraded the outlook for Chinese real estate developers to "negative" from "stable" as Beijing restricts lending and limits their access to much-needed credit.

The warning, the second by a ratings agency in two months, comes as recent data indicate that the government's efforts to put a cap on the soaring property market seem to be having an impact.

"Meaningful price adjustments" in the world's...

The Kress Cycle tsunami in five stages

2011-06-14T19:30:15Z

The destruction of the U.S. economy has occurred in at least three stages – with a fourth to occur later this year. The fifth should be under way no later than 2013.

Forgotten in the avalanche of economic headlines in recent weeks is the fact that the housing market hit a new low. In the latest reporting month the national housing index hit a new low, falling below the previous low from April 200...

Citi looking for Manhattan office space: sources

2011-06-14T15:00:22Z

NEW YORK (Reuters) - Citigroup Inc is in the early stages of looking for about 1 million square feet of office space in Manhattan and considering space at the World Trade Center site and at ...

China cracks the whip on affordable housing

2011-06-10T13:30:41Z

China's housing authorities said Friday construction of 10 million state-subsidised apartments must start by the end of November in order to meet this year's target, calling it a "political mission".

The housing ministry issued the urgent statement after state media said this week that a lack of funding and low profit margins for developers meant it "would be very difficult" for all low-income housing projects to start on time.

"The p...

Hong Kong finance chief warns on property prices

2011-06-10T06:30:41Z

Hong Kong's finance chief said Friday the risk for people entering the territory's property market was "higher now than ever" as he announced new measures to tame runaway prices.

"This situation is rather unusual -- the property market trend is hard to predict," Financial Secretary John Tsang said.

"I urge citizens to think twice before entering the property market, as the risk is higher now than ever," he added.<...

MORE BUILDING MAKES SENSE, SOME SAY, OR DOES IT?

2011-06-09T02:31:42Z

On one side of Gibson Road in Henderson sits Vantage Lofts, a cluster of half-finished structures developers once dreamed would house modern condominiums with sweeping views of the Strip. Touted as an alternative to typical suburban living, the $160 million development broke ground in 2005.

Today, it sits empty. Chicken wire pokes from unfinished patches of stucco. Plywood covers holes where windows should hang. Shards of glass litter an entryway to the sales office.<...

French consul's H.K. home fetches 51.6 mln euros

2011-06-01T13:30:51Z

The home of France's top diplomat in Hong Kong, located in one of the Chinese territory's glitziest districts, has sold for a whopping 51.6 million euros, the consulate said Wednesday.

Buyer Fortune Asset Management snapped up the 19th-century residence in Hong Kong's Peak neighbourhood for HK$580 million ($74.5 million), as housing prices in the former British colony continue to soar.

...

Ellen & Portia DeGeneres' Beverly Hills Home For Sale

2011-05-31T08:30:10Z

Ellen & Portia DeGeneres are quietly gauging interest in their Beverly Hills home

Ellen & Portia DeGeneres are quietly gauging interest in their Beverly Hills home.

Chat show host Ellen purchased the property from Will & Grace co-creator M...

Shopping malls may need to reinvent themselves

2011-05-25T07:00:35Z

LAS VEGAS (Reuters) - Back when most shopping malls were built, cutting edge technology was color television and a mobile phone meant a land line with a really long cord.

Today, technology allows shoppers to compare prices while at the store or buy online and has become one of the biggest threats to retailers and their mall landlords. Many re...

Manager of defunct hedge fund accused of fraud

2011-05-13T15:30:10Z

NEW YORK (Reuters) - A former hedge fund manager has been charged with defrauding investors of at least $12.6 million in a federal indictment on Friday, nearly two years after the fund collapsed under the weight of failed real estate loans.

Lloyd Barriger continued to promise investors an 8 percent return, even as the fund, Gaffken & Barriger, defaulted on a $20 million line...

China to double land for low cost housing

2011-05-13T06:30:53Z

China has vowed to more than double land supply for low-cost housing this year, an apparent effort to ease social tensions over high home prices and atone for missing a similar target in 2010.

The Ministry of Land and Resources plans to provide 77,400 hectares (191,200 acres) of land for government-subsidised housing this year, nearly 140 percent more land than actually used for such projects in 2010.

If the goal is met i...

Against all odds, Union Village moves forward The $1.5 billion Union Village, a health care and mixed-use facility planned for a city-owned plot at U.S. 95 and Galleria Drive, is the first major project in Henderson since the $1 billion M Resort opened in

2011-05-11T02:30:43Z

When developers announced ambitious plans last month to build a $1.5 billion health care project known alluringly as Union Village in Henderson, the plan was greeted with cautious optimism. The big question: Will the private project, which is on the hunt for additional capital, become yet another empty promise of grandeur stalled by the recession?

After years of binging on subprime mortgages and easy money, residents and developers ...

'Home Alone' mansion on sale for $2.4 million

2011-05-06T17:30:20Z

The stately red brick mansion bravely defended by Macaulay Culkin in the hit film "Home Alone" has been put up for sale for $2.4 million dollars.

The Georgian-style, 14-room home sits on a 2,000 square meter (half-acre) lot in the tony Chicago suburb of Winnetka<...

Who Benefits From Affordable Homes?

2011-05-06T10:30:17Z

For many young adults, I believe this will turn out to have been a good time to buy a house or condo.

In the "be careful what you wish for" category, we can now add "affordable homeownership."

Over much of the past two decades, there was a lot of hand-wringing about people who were being locked out of homeownership by prices that were rising far fast...

Special report: A big fat Greek real estate sale

2011-05-06T01:30:07Z

ATHENS (Reuters) - Would you do a property deal with Greece? For a country that hopes to escape bankruptcy by shifting billions of euros worth of prime real estate, Athens' sales pitch is far from reassuring.

Take its attempts with the old Hellenikon airport in Athens. The a...

World Bank warns of China property downturn risk

2011-04-28T01:30:30Z

The World Bank warned Thursday measures to cool China's red-hot real estate sector could trigger a sudden downturn in the market, posing risks for the world's second-largest economy.

But the Washington-based lender said it was "too early" for authorities to halt monetary tightening because inflation expectations remained high and much of the impact of soari...

Recession delayed - but didn't foil - Tivoli Village

2011-04-26T02:30:40Z

After a run of construction featuring glass-and-steel skyscrapers, the newest commercial development in the Las Vegas Valley opens next week, rejecting the towering grandeur of Manhattan for the Old World charm of Italy.

Delayed because of the recession for 1
years, the mixed-use Tivoli Village at Qu...

Some signs of life in housing, credit drought goes on

2011-04-24T23:30:12Z

CHICAGO (Reuters) - Like an increasing number of well-heeled Americans, the Hodgsons decided it was time to buy a new home, even if most of the U.S. housing market remains in the dumps.

After years in an apartment building, "we were just tired of sharing space with other people," says Cari Hodgson, 32. "It was time to ha...

Irish speculative mania fed boom: official report

2011-04-19T16:30:21Z

Ireland was gripped by a speculative mania and ignored warning signs during the property boom that led to its ongoing banking crisis, a report commissioned for the government said Tuesday.

The report by a special commission looking into the disaster which led to Ireland seeking an international bailout in November, said there was evidence of a "national speculative mania" centred on the property market from January 2003 to January 2009....

Fastest growing U.S. metro area hit hard by recession

2011-04-18T11:32:09Z

PALM COAST, Fla (Reuters) - As snow blanketed the northern United States this winter, city leaders in Palm Coast, Florida, sent postcards to thousands of out-of-state landowners who have not yet built homes on their piece of paradise.

"It's sunny and 76 degrees in Palm Coast,"...

Skilled Healthcare says may sell itself, shares up

2011-04-12T09:00:09Z

(Reuters) - Nursing home operator Skilled Healthcare Group Inc said late Monday that it was exploring strategic alternatives, including a potential sale of the company, sending its shares up about 14 percent to a year high.

The company's real estate portfolio could be the key in attracting an offer, wit...

Mubarak says he will fight "lies" about assets

2011-04-10T07:30:11Z

CAIRO (Reuters) - Former Egyptian president Hosni Mubarak, breaking a two-month silence, said Sunday that accusations of corruption against his family were lies and he had the right to defend his reputation.

In his first public comments since being ousted from power on February 11, Mubarak said information sent to <...

Singapore to conserve historic railway stations

2011-04-08T04:30:28Z

Two railway stations to be returned by Malaysia to Singapore will be conserved as historic sites, officials announced Friday following a citizens' campaign to save the buildings from destruction.

There were fears that the Tanjong Pagar Railway Station, located on prime real estate on the fringes of the central business district, would be turned into yet another shopping mall or condomi...

Egypt arrests former housing minister Soliman

2011-04-06T05:00:06Z

CAIRO (Reuters) - Egyptian authorities arrested the former housing minister a security source said on Wednesday, a step which may add to worries among real estate investors that land transactions made under previous governments may be voided.

Ibrahim Soliman was the second former housing minister to be arrested in connection with deals approved while in office, part of a campaign against cor...

China bank regulator warns of property bubble risks

2011-03-29T04:32:25Z

BEIJING (Reuters) - Risks that could lead to a property bubble are still building up in China, and more action is needed to cool speculative fervor, the country's banking regulator said on Tuesday.

In a report about last year's banking performance, the

Giving failed boom-era projects new role

2011-03-29T04:02:34Z

When it was built in 2008, the gleaming, two-story office building in Henderson was the first milestone for an ambitious $200 million condominium project known enticingly as 17th and Vine. The mixed-use project was designed when the economic stars seemed aligned and developers couldn't miss.

They never thought the economy would crash, and crash so hard so quickly.

That building, meant to be the clubhouse for the 22.5-acre property at 64 N. Stephanie St., was neve...

China Construction Bank profit up 26% in 2010

2011-03-27T11:30:11Z

China Construction Bank Corp., the country's second largest lender, said Sunday its net profit rose 26 percent last year on the back of higher interest income and commissions.

Profit growth was nearly double the 15 percent rise in 2009, showing CCB's business regained momentum after the global financial crisis. But the bank said it would slow credit growth this year as

Brazil's housing carnival stokes bubble worries

2011-03-24T23:30:05Z

RIO DE JANEIRO (Reuters) - Listening to Jose Carlos de Vasconcellos talk about Rio de Janeiro's property market is like being transported back to the bubble days in the United States or Europe.

Nokia's Navteq launches indoor mapping service

2011-03-21T13:00:17Z

HELSINKI (Reuters) - Nokia's digital mapping arm Navteq launched on Monday an indoor mapping service enabling shopkeepers or retailers to better target consumers. Navteq's Destination Maps covers more than 200 of the l...

China February home prices show signs of softening

2011-03-18T14:30:46Z

China's efforts to cool its red-hot real estate market showed signs of working in February, as government data Friday showed more cities seeing a fall in house prices from the previous month.

The figures could mean Beijing will hold off any further measures to rein in prices in the near term, analysts said, after a series of measures over recent months.

The cost of a newly bui...

Chinese pin hopes on affordable housing pledge

2011-03-07T00:30:08Z

BEIJING (Reuters) - Owning a home is central to the Chinese dream, but for Beijing residents like 30-year-old Zhang Xinyuan, just getting an apartment seems like a dream that may never become reality.

A teacher at a prominent university in Beijing, Zhang is a member of the country's growing middle class. But her salary of 80,000 yuan...

Reining in prices is China's 'top priority': Wen

2011-03-04T17:30:22Z

Reining in prices is China's "top priority" in 2011, according to a speech Premier Wen Jiabao was to deliver to the nation's parliament Saturday, which reiterated a four percent inflation goal.

The world's second-largest economy will target eight percent growth this year, and seven percent growth in the 2011-2015 period, Wen was to say, as he outlined the country's priorities for the comin...

S. Korea to support savings banks amid jitters

2011-02-21T04:30:59Z

South Korea's financial regulator promised Monday to supply liquidity and buy loans linked to soured property deals to try to calm jitters after six savings banks were suspended.

Financial Services Commission Kim Seok-Dong said in a statement that the government will ease financial restrictions on the Korea Federation of Savings Banks so it ca...

Calpers shifts property focus to private deals

2011-02-14T12:30:54Z

SACRAMENTO, California (Reuters) - The board of Calpers, the biggest U.S. public pension fund, voted on Monday to drop real-estate stocks from its property portfolio by eliminating real estate investment trust holdings and focusing instead on private transactions.

The shift to...

EU, IMF seek to repair Greek rift over asset sale

2011-02-13T13:30:09Z

The EU and IMF on Sunday hastened to prevent a rift with Greece after the debt-hit country slammed one of their auditors over controversial calls for a huge state asset sale to keep Athens' tortuous recovery on track.

The two organisations and the Michael Gove was told he must reconsider the £55 Building Schools for the Future (BSF) scheme in six authorities.

Justice Holman ruled that Gove had unlawfully failed to consult the authorities --

An IRA Is a Poor Shelter for Real Estate

2011-02-07T11:30:17Z

You can buy houses with retirement money, but you'll lose the tax breaks you're counting on to make a profit.

OUR READERS
Who: Paul and Debra Satterthwaite
Where: Indianapolis
Question: Should we use an IRA to buy real estate if we find good properties at distressed prices?

...

Spain's Banco Popular 2010 profits slump 23%

2011-02-04T10:31:01Z

Banco Popular, Spain's third-largest listed bank, on Friday reported a 23 percent drop in net profits for 2010 to 590.2 million euros ($804 million) after making hefty provisions for bad loans.

The bank said in a statement that new banking regulations forced it to make provisions of 1.834 billion euros for the year.

Like other Spanish banks, Banco Popular is struggling with an economic downturn, brought about by a collapse of the coun...

Spain savings banks have $124 bn in toxic assets

2011-02-01T14:30:39Z

Spain's regional savings banks have around 90 billion euros ($124 billion) in problematic property assets, according to a calculation carried out Tuesday by AFP based on central bank data.

The Bank of Spain asked all 17 regional savings banks, which account for about half of all lending, to supply it with details of their exposure to the collapsed real estate market.

...

PENDING HOME SALES

2010-12-30T12:31:45Z

Chart shows seasonally adjusted annual rate of pending U.S. home sales

...

HOUSING STARTS

2010-12-16T14:32:18Z

Graphic charts the number of new privately owned housing units started

...

Builder Sentiment

2010-12-15T08:37:04Z

In this Nov. 30, 2010 photo, a contractor carries heating ducts to a house under construction in Gretna, Neb. The National Association of Home Builders said Wednesday, Dec. 15, 2010, its housing market index held steady in December, with many respondents feeling uncertain about the prospect for improved home sales in the near future. (AP Photo/...

Foreclosure Good For Business

2010-11-22T12:58:49Z

In this photo taken Wednesday, Nov. 17, 2010, a foreclosed home is shown on Pine Island in Lee County, Fla. Across the nation, troubled home owners are cheering the prospect that some foreclosures are slowing so banks can review questionable documents. Then there are places like Lee County, Fla. There, not everyone is applauding. (AP Photo/Chris O'Meara)

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