Susan Wachter News
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William Pulte says the only way to truly save Detroit and get the housing market functioning properly again is to destroy large swaths of the city as quickly as possible.
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Stockton, California, has the highest U.S. foreclosure rate. It also has a housing shortage.
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The U.S. housing market probably will avoid a “double-dip” next year as a recovery depends on job growth, said Susan Wachter , a real estate professor at the University of Pennsylvania’s Wharton School.
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A real estate agent near California’s Silicon Valley seeks sellers by combing property records for people who’ve owned their houses for at least 40 years. A Denver-area broker offers half his commission for a listing, while a counterpart in South Florida hosts happy hour gatherings at bars to loosen up homeowners reluctant to sell.
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The U.S. commercial real estate market has slowed in the past three months as the sputtering economy and a pullback in debt financing limited deals, cooling a recovery from Washington to California.
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Home prices in 20 U.S. cities climbed in June for the first time since a tax credit boosted sales in 2010, indicating the industry at the heart of the worst recession in the post-World War II era is starting to rebound.
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Americans’ drive to rebuild savings and pay down debt may mean the gains from the current mini boom in mortgage refinancing will accrue over years rather than have a more immediate effect on the U.S. economy.
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From Manhattan office towers to apartments in Florida to retail properties in Washington, commercial real estate values are rising, defying predictions of a collapse that would drag the U.S. economy back into recession.
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The 22-story apartment tower in Portland, Oregon, has a roof garden that funnels rainwater to its public toilets. Because the water isn’t treated, state law requires “Do Not Drink” warning signs.
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Demand for rental apartments is booming as more Americans either can’t or don’t want to buy their own home, according to participants at the Bloomberg Commercial Real Estate Summit in New York.
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