US new-home sales in May climb to best levels since 2008
WASHINGTON (AP) — Purchases of new U.S. homes surged in the Northeast and West in May, as steady job growth over the past year has lifted the real estate sector.
REAL ESTATE
Wall St. set to open higher on Greek hopes
U.S. stocks closed higher on Monday with the Nasdaq hitting a record high on Greece deal optimism, merger and acquisition activity and better-than-expected growth in existing home sales in May. Darden Restaurants’ shares rose 5.4 percent to $73.1 in premarket trading after the Olive Garden owner said it intends to separate a portion of its real estate assets into a real estate investment trust, proceeds of which will be used
Environmental groups sue Florida legislature over budget
By Bill Cotterell MIAMI (Reuters) – Three environmentalist organizations sued the Florida legislature Monday, accusing lawmakers of defying a constitutional mandate and short-changing conservation land purchase and water protection projects. The Republican-controlled state House and Senate concluded a special legislative session last week with passage of a $79 billion state budget that left environmentalists upset over lack of funding for what they consider key projects to protect Florida’s water resources,
Ivanhoe Cambridge leads $920 million investment in Chinese developer
By Allison Lampert MONTREAL (Reuters) – Ivanhoe Cambridge, the real estate arm of a top Canadian pension fund, said on Monday that it led a $920 million capital raise in Shanghai developer Chongbang Group, as it and others in its consortium look to Asian markets for higher returns. This is the second institutional capital raising for Chongbang, which was created in 2003 in Hong Kong by Singaporean and Hong Kong
Here's why home sales are finally surging
WASHINGTON (AP) — Real estate has gotten hot again.
UAE property market set to decline: S&P
The UAE property market is set for a soft correction after three years of sharp rises but a crisis is ruled out, Standard & Poor’s ratings agency said on Monday. A report said additional supply and lesser demand on the United Arab Emirates property market this year is likely to result in a 10-20 percent correction in Dubai residential real estate prices. The S&P report stressed this would be much
Phil Collins Buys J.Lo's Former Paradise in Miami Beach
Filed under: Buying, Celebrity Homes, Selling Lou Novick via ZillowThe property features 200 feet of Biscayne Bay waterfront along with views of the lights of Miami. By Melissa Allison Phil Collins just snagged a slice of tropical paradise that once belonged to Jennifer Lopez. The $33 million deal was first reported by The Wall Street Journal. Built in 1929, the Mediterranean-style estate in Miami Beach includes 200 feet of waterfront
Billionaire investor Icahn says 'no' to Trump's Treasury offer
Billionaire investor Carl Icahn said thanks but no thanks when real estate mogul turned Republican presidential candidate Donald Trump floated his name for U.S. Treasury secretary. “I am flattered but do not get up early enough in the morning to accept this opportunity,” Icahn, 79, said in a public statement one day after Trump, 69, told cable station MSNBC that Icahn could be a dream Treasury pick if he wins
Iconic Paris store finally gets makeover approval
French authorities gave the go-ahead Friday to renovate the iconic former Parisian department store La Samaritaine on the River Seine, ending years of legal wrangling over the historic site. Perched on the right bank of the Seine, the hulking store occupies some of the most expensive real estate in Paris but was shut down in 2005 when it ran afoul of health and safety regulations. Efforts to redevelop the site
Venezuela's Maduro calls Trump a 'bandit' for Mexico remarks
By Girish Gupta CARACAS (Reuters) – Venezuela’s President Nicolas Maduro branded U.S. presidential hopeful Donald Trump a “bandit” and “thief” after he accused Mexico of sending criminals to live in the United States. “He who messes with Mexico, messes with Venezuela,” Maduro said in a speech. In a speech on Tuesday announcing his candidacy, real estate mogul and television personality Trump said referring to Mexico, “They’re sending people that have