(click on the map to go to the interactive graphic)
Do you know what your credit score is? Maybe you should try surviving the credit storm before you start buying houses…
(Via Column Five for Credit Sesame)
(click on the map to go to the interactive graphic)
Do you know what your credit score is? Maybe you should try surviving the credit storm before you start buying houses…
(Via Column Five for Credit Sesame)
TILE showed up for part of the Global Student Entrepreneur Awards at the New York Stock Exchange this October, and we met some young folks who made us feel bad about sleeping through college.
Adam is just one of them. He was THE Global Student Entrepreneur of the Year in 2005, because he figured out how to turn a simple off-campus housing need into a multi-million dollar real estate business.
But… why? Well, we asked him:
Watch the oh-ficial GSEA 2010 recap video here. To see all our GSEA interviews, click here.
They have to live there, too.
“At first I thought it was going to be boring. Then I thought it was fun to fit everything in.” – Julia Paris, 14-year-old house hunter
Before the real estate bubble burst, a home was more than just a home – it was an investment.
“There is no iron law that real estate must appreciate.” – Stan Humphries, Chief Economist for Zillow (a real estate website)
In this market the affluent still want an island getaway home – just for a lower price tag.
“We’re trying to get the point across that you can have a great place in a wonderful island for, quite frankly, a reasonable price.” – Steve Schram, Chairman, DPS Sporting Club Development Co.
Homes aren’t selling and construction on new homes is slowing.
“The sellers think the market’s coming back. They’ve tacked on an extra 5 to 10 to 15%. The buyers aren’t going for it. It’s going to feel like a double-dip because sellers are going to have to lower their prices” – Jim Klinge, a real-estate agent in Carlsbad, California
Although second quarter reports look strong, the economy may start to level out.
“Bottom line is earnings may hold up, but sales growth is slow and companies aren’t going to invest their record cash holdings until it improves.” – Howard Silverblatt, Senior Index Analyst of Standard & Poor
Because a special tax credit for purchasing new-homes expired in April, sales plunged in May.
“It’s a concern that even with very low interest rates, you’re seeing there’s an inability of home sales to move up at all in the past year, but there’s a reason to believe going forward things wouldn’t be quite as bad as they are in May.” – Michael Feroli, Chief U.S. Economist at J.P. Morgan Chase
Walt Disney Co. plans to develop an expensive vacation-home real estate community – “Golden Oak” – in Walt Disney World in Florida.
“This may be the first time that a kind of man-made entertainment center has generated that kind of real-estate activity.” – Elizabeth Plater-Zyberk, Dean of Architecture at the University of Miami