Real Estate

As lumber prices hit dramatic highs last Spring, homebuilders and developers held their breath, with many opting to delay construction on new projects until prices abated. The roller-coaster prices hit both large national entry-level builders and custom luxury home developers building on speculation. Lumber prices have since come back to earth—according to Fortune, lumber prices have
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Manhattan’s co-op market is back to business again. Many co-op boards are relaxing restrictions on showings and use of community amenity spaces like roof gardens and fitness centers. According to Steven Goldschmidt, Director of Sales and Senior Vice President of Business Affairs for Warburg Realty, the market is picking up after more than a year of
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Major credit ratings agencies this week downgraded China’s most indebted property developer Evergrande, as concerns over Asia’s junk bond sector rise.  Fitch Ratings on Wednesday downgraded China Evergrande one notch from B to CCC, saying that the negative developments surrounding Evergrande may weaken investor confidence, further pressuring its liquidity.  A rating of CCC means there’s
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