Propcy Fans! There are so many real estate news out there – and so little time! We picked up the most interesting ones, so sit back, and take a break.
These were the 5 Must-Read Real Estate Articles of The Past Week:
It’s increasingly becoming a buyer’s market in Manhattan. After years of growth, home sales in New York’s priciest borough continues to show signs of softening. The total number of sales dropped 25% in the 3rd quarter compared to the same 2015 period, according to a market report from real estate brokerage Compass.
$915,729,293 : That was the total loss Donald Trump and his then-wife Marla Maples reported on their 1995 tax return, a staggering amount even for a man who had taken four companies through the muck of Chapter 11 bankruptcy. In the early 1990s, a vortex of business collapses nearly swallowed the Trump Organization whole. Trump racked up $3.4 billion in debt on his Atlantic City holdings alone.
In Manhattan, a Citibank-led consortium of lenders seized control of Trump’s Plaza Hotel. Trump’s airline, the Trump Shuttle, as well as his personal yacht, were other casualties.
By Robert Frankvia CNBC
Stocks on Wall Street fell in light trading on Monday as investors dumped former darlings of the market: real estate companies and utilities.
Indexes slumped from the start of trading and remained down throughout the day as investors continued to speculate about when the Federal Reserve would raise interest rates as the economy strengthens.
Real-estate developers have found their next big project: Iran.
The onetime pariah’s year-old deal to curb its nuclear program lifts a host of economic sanctions that have limited the ability to do business in the country. Now, hotel and shopping mall developers from Europe and the Middle East are rushing to take advantage of the opening.
Did you like these articles? What were your favorite articles this week?