Real Estate
General Growth Properties Files for Bankruptcy
General Growth Properties, one of the largest mall operators in the nation, filed for bankruptcy early Thursday morning in one of the biggest commercial real estate collapses in U.S. history.
Seattle poll: In a recession, how much will we tax ourselves for affordable housing?
Mayor Greg Nickels is considering a renewal of Seattle's affordable housing levy that would almost double the tax burden of the current levy.
California's median home price down 40%
The state median fell to $224,000 in February, compared with $373,000 a year earlier, tracking firm MDA DataQuick says.
Mortgage interest tax deduction cut criticized
SAN FRANCISCO -- President Obama has grabbed what the real estate industry considers the third rail of tax reform: mortgage-interest deductions.
White House objects to 'rant' on its housing plan
WASHINGTON (AP) — The White House on Friday dismissed a cable television reporter's criticism of President Barack Obama's housing bailout plan as the ranting of an individual who "doesn't know what he's talking about."
US Property Owners Lost $3.3 Trillion in Home Value Last Year
The U.S. housing market lost $3.3 trillion in value last year and almost one in six owners with mortgages owed more than their homes were worth as the economy went into recession, Zillow.com said.
Las Vegas may get PENTHOUSE hotel-casino
Penthouse CEO Marc Bell is going public with plans to buy a "significant property" on the Las Vegas Strip and join the casino wars. "The best time to buy is in a down economy," said the South Florida financier, whose business plan includes tying i...
Sheriff in Chicago Ends Evictions in Foreclosures
Law enforcement officers in Chicago will no longer evict residents from foreclosed properties, Sheriff Thomas J. Dart of Cook County announced Wednesday. The department was on pace to conduct 4,700 foreclosures this year, nearly triple the number ...
Home Prices in 20 U.S. Cities Declined 16.3% in July
House prices in 20 U.S. cities declined in July at the fastest pace on record, signaling the worst housing recession in a generation had yet to trough even before this month's credit crisis.
Record 1.2 million homes hit by foreclosure
NEW YORK (CNNMoney.com) -- A record 1.2 million homes were in foreclosure during the second quarter of 2008. That represents 2.8% of all outstanding loans, up from 1.4% of all loans during the same period a year ago, according to a report released...
UAE to strengthen Korean trade ties
The UAE Minister of Foreign Trade Shaikha Lubna Al Qasimi has concluded important talks with senior Korean officials as part of the UAE delegation’s agenda in the 2008 Asian International Investment and Property Show.
Recession looms as ISEQ plummets in worst first-half in quarter of a century
Irish shares tumbled last week, setting them on course for their worst first half in at least a quarter of a century as investors baulked at sky-high oil prices and a report that Ireland is heading into recession.
$230 MILLION: The most expensive home in the world
A MANSION in London is set to sell for £117million – making it the world’s costliest home. The palatial residence, on a street dubbed Billionaires’ Row, is believed to have been bought by Britain’s richest man, steel tycoon Lakshmi Mittal.
American map of misery
SOUNDING more like a cartographer than a central banker, Ben Bernanke this week showed off the Federal Reserve's latest gizmo for tracking America's property bust: a series of maps that colour-code price declines, foreclosures and other gauges of ...