Singapore has 2 new MRT Stations ready. The Pioneer and Joo Koon Stations saw some 5,000 people attend their Open House on Saturday (yesterday) which was officiated by Senior Minister of State, Ms Lim Hwee Hua.
Paul Krugman, the Nobel Prize-winning New York Times op-ed columnist and Professor of Economic and International Affairs at Princeton University, said in today’s column that in regard to the housing slump and the general economic downturn in the U.S., “…the seeds of eventual recovery are already being planted.”
I have just finished reading through the great Barack Obama’s fix for the foreclosure mess in the USA which will magically mend the world’s housing woes. NOT!
For those of you expecting a quick fix to the financial crisis, sorry to disappoint, but this is just another $275 billion of US taxpayer’s money pissed down the toilet. Ignoring the fact that the whole mess started by lending cheap money to people who could not afford to make the payments and doing more of the same is just…………. Not even sure I know what word to use actually. If any individual acted the way the governments and banks are doing, I guarantee they would be behind bars this very minute.
The current economic downturn is starting to hit some segments of the luxury real estate market. Park Avenue Co-Ops and Condos in New York City are down 20-25% from the summer of 2008, and some of the priciest suburbs across the country are suffering even more.
The U.S. economic stimulus package has finally passed, and while no one believes that the housing market will experience an instant revival, if you are planning to buy a foreclosed home on a short sale or have your eye on a home in a hot area that shows signs of revitalization, certain improvements will make your home more valuable and easier to resell than others.
More on Can You Still Flip a U.S. House? Best Resale Upgrades
The Dubai International Property Show opened today with almost “no visitors” according to Property wire.
‘These are the difficult times and we must admit the reality and then find the solution,’ said Abdullah M Al Shizawi, managing partner of Heart of Capital.
More on Dubai International Property Show a Flop and Another Broker in Dubai Goes Under
Some headlines and stories from the property investment world, showing some considerable volatility in the markets still.
- Record price set in Perth, Australia. An apartment sold in Perth for a record $4.2 million. Yes, I am as shocked as you are. God forbid some one sold it to themselves for a headline.
Every spring, Home Builders Associations in metropolitan areas across America host an event that has come to be called “The Parade of Homes.” The Parade of Homes usually takes place in a hot subdivision and features 12 to 20 new homes with all the latest and most luxurious features designed by local architects and sponsored by various home builders.
More on Denver Parade of Homes to Shift to Luxury Theme in 2009
Temasek Holdings’ investments fell 31% from S$185 billion to S$127 billion in 8 months. But why were these 8 months chosen to produce a statistical value? Aren’t statistics always based on quarterly, half-yearly and annually accumulated data? Why release this information (correct as of end November 2008) in the middle of February 2009, more than 2 months later?
Things do seem to be hotting up in the investment property world, and I don’t mean burning down hot as seen in the recent Australian bushfires. Volatile is the word that comes to mind. As developers and agents try to combat falling prices, we are starting to see some interesting approaches. Most of Manhattan seems to be up for rent at the moment with luxury condominiums in Manhattan completely failing to sell.
