Archive for April 18th, 2008
Continue Reading April 18th, 2008
The red hot Canadian housing market has shown tremendous resilience even as home prices on its southern border tumble. But a new Canadian Real Estate Association report indicates that the market is losing steam.
The price of an average Canadian home climbed 5.5% in the first quarter of 2008 compared to a year earlier — the smallest annual jump since the fourth quarter of 2001. And first-quarter sales dropped 13% from a year ago.
The U.S. median existing home price, by contrast, fell 8.2% in February from a year earlier to $195,900.
“Canada’s six-year housing market boom is officially over,” Doug Porter of BMO Capital Markets told CBC.
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Continue Reading April 18th, 2008
The soon-to-be-named new head of New York and New Jersey’s port agency will be charged with guiding the World Trade Center redevelopment and other high-profile projects that will shape the region’s real estate market for years to come. Read more »
Continue Reading April 18th, 2008
Third party property management firm Riverstone Residential Group has acquired Seattle based HSC Real Estate Inc. With this acquisition, Riverstone looks to increase its viability in the Northwest, as HSC is a property management firm currently operating approximately 34,000 units in the region. Read more »
Continue Reading April 18th, 2008
A financing package totaling $109 million has been put in place for Linden Plaza, a 1,527-unit affordable housing complex in Brooklyn. Red Stone Partners orchestrated the deal on behalf of The DeMatteis Organization, which plans to use the funds to rehabilitate and preserve the 36-year-old property. Read more »