Ups and downs in global real estate
Business Week with a couple of stories about highs and lows, ups and downs in global real estate.
Manhattan: prices down.
Manhattan apartment prices fell for a third consecutive quarter as Wall Street job losses drained demand and the decline in co-op and condominium values reached 21 percent since the market peak. Read more.
Dubai: buildings up and prices down.
Dubai renamed the world's tallest building in honor of the ruler of Abu Dhabi less than a month after receiving a $10 billion lifeline from the neighboring emirate that defused a financial crisis. The 200-story Burj Khalifa, or Khalifa Tower, was known until yesterday as Burj Dubai. Read more.
Maybe we can rename some of the banks after the financial celebrities who saved them during the financial crisis.
Doesn't BernankeBank have a nice ring to it. 