"Even a dead cat will bounce when dropped from a great height." Is This The Light At The End Of The Tunnel Or A Train Coming Right At Us?
Maybe this is one of those....
"Dead Cat Bounces"
By Jeannine AversaThe Associated Press
Article Launched: 08/26/2008 10:14:27 AM
WASHINGTON - Sales of new U.S. homes posted an unexpected gain in July as heavily discounted properties enticed cautious house hunters to become home buyers.
The Commerce Department says sales of new single-family homes rose by 2.4 percent last month to a seasonally adjusted annual rate of 515,000 units, the most since April.
But sales in June turned out to be much weaker than the government previously estimated. Sales sank to a pace of just 503,000, the worst showing since September 1991.
Economists were expecting sales to drop in July.
For those real estate pros that think we have turned the corner can you please explain this....
Office market feels funds woes
Norwalk Advocate
By Peter Healy
The Greenwich office market, which has relied mainly on hedge funds and other financial services firms to achieve single-digit vacancies and lofty rents in recent quarters, could be softening for several reasons:
* Three of the town's hedge funds, Andor Capital Management, SageCrest Holdings and Turnberry Capital Management, announced their demise this month.
* Another hedge fund firm, AQR Capital Management of Greenwich, recently dropped plans to expand into 60,000 square feet at 33 Benedict Place in Greenwich. Unilever Home & Personal Care USA is scheduled to leave the 126,810-square-foot building at Benedict Place and West Putnam Avenue this year.
* The Anchorage, a two-building, 40,000-square-foot waterfront office development at 640 and 660 Steamboat Road, is advertising 25,000 square feet of available space.
* RBS Greenwich Capital Markets plans to vacate the 200,000-square-foot building at 600 Steamboat Road after the new Royal Bank of Scotland complex opens next year in downtown Stamford. The building is for sale. RBS also has an office at the Greenwich Plaza office complex.....
The Greenwich Real Estate Market Is So Bright, We All Need To Start Wearing Sun Glasses.
The Greenwich Real Estate Market May Suck
But
Ivanka Trump Says: At Least Trump Dominican is OK
With nary a mention of Trump Soho, young scion Ivanka talks to Page Six Magazine about the state of the family business: "Discussing a new Trump property in the Dominican Republic, she says, “We sold 63 estate lots for $365 million, on a price per square acre standpoint which rivals homes in Greenwich, Conn. That was done in six hours a year ago with 20 percent hard deposits."
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