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U.S. real estate companies said on Monday they were trying to assess the damage that last week’s earthquake and tsunami may have inflicted on the hotels, warehouses and outlet centers they own in Japan.
The companies, including four real estate investment trusts (REITs), are expected to incur some property damage from the disaster. With a highly dense population in one of the world’s wealthiest countries, Japan is a favorite among U.S. real estate investors. Get the full story »
More Americans purchased new homes in November, though not enough to signal better times are ahead for the battered housing industry.
Sales of new homes rose 5.5 percent last month to a seasonally adjusted annual rate of 290,000 units, the Commerce Department reported Thursday. That’s less than half the rate that economists consider healthy. And the increase follows an October sales pace that nearly matched the lowest level in 47 years. Get the full story »
