The tan, three-bedroom house on Chicago’s North Side sits half a block from a Family Dollar store and a pawn shop -- an unlikely patch of gold to mine for Blackstone Group LP in the single-family rental market.
Suzanne Baker and her siblings bought a foreclosed home in Atlanta two years ago, added a fourth bathroom, then waited for values to rebound before considering a sale. Now, she says, they’re ready to cash in.
Construction crews are returning to the Cascades of Groveland, a gated 55-and-older community west of Orlando, Florida, almost three years after its bankrupt developer left owners of the existing 238 houses surrounded by empty lots, partially built homes, and an unfinished clubhouse.
Brad Hunter, chief economist at national director of consulting at Metrostudy, predicts a 30% increase in multifamily housing starts. Hunter talks with Kathleen Hays on "The Hays Advantage" on Bloomberg Radio.
Brad Hunter, chief economist and national director of consulting for Metrostudy, is "calling for an increase in housing starts in 2012." Hunter talks with Bloomberg's Ken Prewitt and Tom Keene on Bloomberg Radio's "Bloomberg Surveillance."
Paul Laney landed a job two months ago as a home inspector in Woodstock, Georgia, as the city added staff to oversee a growing residential construction industry. “I am really ecstatic about it,” said Laney, 52, who closed his own contracting business in 2007.
For the latest sign of a U.S. housing rebound, Toll Brothers Inc. Chief Executive Officer Douglas Yearley points to Hoboken, New Jersey: A couple torn between two condos last month at the sales office for its Hudson Tea complex decided to think about it over lunch. When they returned an hour later, both units were gone.
Shelby Webb, 22, rented her first apartment three weeks ago in Chattanooga, Tennessee, after landing a job translating ads for a Spanish-language newspaper. Now, she’s paying monthly bills for electricity, cable television and natural gas for the first time and has bought new pillows from Wal-Mart Stores Inc.
New home sales in Phoenix and Las Vegas, two U.S. markets hardest hit by foreclosures, are set to plunge as a federal tax credit for homebuying expires, according to data from real estate researcher Metrostudy.