An Investment That Went Bad

It's Friday desk clearing time for this blogger. "Amid the housing market bust, developers are abandoning unfinished subdivisions, leaving hundreds of homeowners with the mess. The city of Nashville is at the center of some of the thorniest problems, both because it has dozens of stalled...
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Leverage Works Just As Swiftly In Reverse

Chicago Public Radio reports from Illinois. "Just a few years ago, homebuyers stampeded into brand-new condos all over Chicago. Then, reality hit. Water started leaking in. Mold crept up the walls. Elevators stopped working. Now the city of Chicago is trying to clean up the mess by chasing after...
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If You Were Breathing You Could Get A Home Loan

The Press Register reports from Alabama. "In the aftermath of Hurricane Ivan, the owners of the Sapphire Beach condominium complex were nearly unanimous in their decision to halt repairs and sell their Gulf-front property to a developer. Some sold their stake for a shade under $1 million -- in many...
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It Only Has One Way To Go In Florida

The Miami Herald reports from Florida. "The government threw a $1.5 billion lifeline to unemployed and underwater homeowners on Friday. Florida and four other states that have seen home prices fall by at least 20 percent since their peak will be eligible to apply for the funds. Since the end of...
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Obvious Signs Of The Bubble

The Denver Post reports from Colorado. "Prompted by changes in the real estate finance environment, two of northern Colorado's biggest residential developers are combining their assets into one package being marketed for $177 million. Windsor developers Martin Lind and Jon Turner are shedding 5,000...
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It Makes Everything Look Like It’s Underwater

It's Friday desk clearing time for this blogger. "A tempting job offer brought Mike Chang and his family from Connecticut to Coral Springs in the early '90s. Soon after he moved to the city, Chang bought a four-bedroom house for $150,000. In 2004, Chang purchased a five-bedroom home; this one in...
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On The Down Side Of The Swing

The Wall Street Journal reports on Georgia. "The No. 1 state in bank failures is making it easier for survivors to deepen their exposure to a single borrower. Georgia Gov. Sonny Perdue signed into law Thursday a bill that allows banks chartered by the state to exceed current lending limits if a...
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It's Never Going Back To Where We Were

The Press Enterprise reports from California. "First-time buyers with limited funds aren't the only ones looking for deals in the depressed Inland Southern California real estate market. People confident of their incomes and flush with cash are seizing the opportunity to buy vacation homes in the...
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