“International buyers accounted for $82.5 billion, or 8.9%, of the $928 billion spent on residential real estate in the 12-month period that ended in March, according a survey released Monday by the National Association of Realtors. That was up 24% from $66.4 billion in the previous-year period.”
Many of you have already seen my post about Zillow’s county-by-county graphic showing the percentage of underwater mortgages around the country. Here in Chatham County, 37% of home mortgages are underwater.
In Chatham County (Savannah), 37% of mortgages are underwater. Most counties in metro Atlanta top 50%.
In the second half of my City Talk column today, I wrote about the symbolic importance of Savannah getting a Whole Foods. Coincidentally, a Facebook friend yesterday sent me a great piece from Salon: Whole Foods is coming? Time to buy
In May 2010, Marc Jacobs CEO Robert Duffy bought one of the finest homes in Savannah’s Historic District for $3.4 million. Now he’s putting that grand Taylor Street home facing Monterey Square back on the market for $3.8 million. The…
In my City Talk column today, I summarize some of the latest home sales data for the Savannah area. Single-family home sales were essentially flat compared to a year ago, but inventories are shrinking because of a decreased pace of…
New construction is typically a driver of economic recoveries, but the combination of tighter credit because of the financial crisis and the massive overhang of existing homes — we built too many plus saw many others become distressed — could not be countered by any conventional, or politically acceptable, policy moves.
S&P/Case-Shiller is the most followed home price index these days, but CoreLogic’s Home Price Index is a really important one that provides slightly more up-to-date information. From today’s release: Excluding distressed sales, month-over-month prices increased 0.7 percent in February from…
Highly recommended for those with a stake in housing: the NYT’s Where Housing Once Boomed, Recovery Lags From the piece: The official statistics say that the national economy has been growing for almost three years, and that Maryland is growing…
If you’re interested in the cultural and financial ramifications of the housing bust, this Q&A with Robert Shiller (of Case-Shiller) is absolutely worth a watch. He notes that we could be in a long Japan-like slump and that we could…
