Preston is secretary of the U.S. Department of Housing and Urban Development. In a recent story in the Christian Science Monitor, Preston predicted that any improvements in the U.S. housing market are a year away.
But at least the home-improvement shows are starting to reflect realty reality.
Would you buy a house from Ford? I wouldn’t. How about from Toyota? That, I might consider.
The news earlier this month that former Tonight Show sidekick Ed McMahon may lose his home in Beverly Hills to foreclosure is such a shocker to some. But anyone who’s been paying attention to the foreclosure mess should have realized by now that no one is immune to mortgage-payment woes.
Trump’s troubles selling his pricey home mirror the struggles many sellers are having in moving their own residences.
Construction crews there are now building the world’s most expensive and largest home. Mukesh and Nita Ambani expect early next year to move into the 27-story skyscraper. The project is expected to cost $2 billion.
According to the National Association of Women in Construction, women make up about 9 percent of the total construction industry in the United States. That number, though small, has been going up.
What can you do if someone starts building a giant home, one that dwarfs the others in your neighborhood, next door to you? Or down the block? Can you stop it?
Three writers at the Wall Street Journal recently wrote an interesting story on those condo/hotels that were built, reporting that many of the buyers who’ve purchased individual condominium units aren’t happy with their investment. They’ve made far less money off rentals than they expected, and their units aren’t appreciating as quickly as they had hoped.
Trump International Hotel & Tower, Trump’s Chicago hotel/condominium project, closed its 125th hotel/condominium unit late last month. That pace is surely slower than what Trump Tower’s sales would have been in a stronger residential market. But it’s not bad: Trump Tower sales agents sold the 125 hotel/condominium units in six weeks.
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Written by Dan Rafter [email] for b5media.
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