The Chinese have long known they have a problem with real estate values. Over the last several years, the Chinese government has enacted a series of half-hearted policies aimed to slow the increase in real estate prices. Unfortunately, the Chinese housing bubble is a runaway freight train heading for an awful crash. Shanghai Homeowners Smash Showroom in Protest Over Falling Prices October 25, 2011, 4:17 PM HKT A weekend scuffle in Shanghai over a drop in apartment prices adds to [Read More...]
The Chinese have long known they have a problem with real estate values. Over the last several years, the Chinese government has enacted a series of half-hearted policies aimed to slow the increase in real estate prices. Unfortunately, the Chinese housing bubble is a runaway freight train heading for an awful crash. Shanghai Homeowners Smash Showroom in Protest Over Falling Prices October 25, 2011, 4:17 PM HKT A weekend scuffle in Shanghai over a drop in apartment prices adds to [Read More...]
The investors who financed the Astoria at Central Park West lost their grip on financial reality. When prices hit the floor, they wanted to leave with their money, but they couldn’t find the door. Now, they are stuck with a loser investment, and they have few good options to get out. High density real estate costs High density residential construction costs are the biggest variable in determining the type of construction a specific project can support. The income must be [Read More...]
Honest and ruthless; I can do that. Lennar and its equity partner want out of this disaster, and they would take the hungry and homeless — if they qualified for a loan. For years, we have stared with wonder, “What fools will buy there?” and live in the warmth of silent defeat like those in the North Korea Towers. We are about to find out because Astoria Central Park West is opening for tours and sales. I first profiled Astoria [Read More...]
Astute Observations