WSJ.com: Developments
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Ritz-Carlton Exits (Woebegone) Lake Las Vegas
On the shores of woebegone Lake Las Vegas, Ritz-Carlton Hotel Co. LLC and the hotel’s owner, lender Deutsche Bank AG, this week set May 2 as the 349-room hotel’s last day of operations. Continuing to run the hotel, which opened in 2003, was “no longer economically viable,” said a Deutsche Bank spokesman.
FHA Loan Defaults Surpass 9%
Officials at the Federal Housing Administration take every opportunity they can to assure the public that the agency is weathering the housing downturn just fine.
Talking ?Aboot? Canada?s Housing Bubble
In the U.S. we're still mucking around at the bottom of the crash (or the false bottom), but in Canada recovery has been so rapid that some there are worrying about (aboot?) a bubble.
Pay Borrowers to Pay Their Mortgage?
How do you get borrowers to avoid walking away from homes that are deeply underwater without encouraging more to follow by writing down principal balances? One idea: Pay them to keep paying their mortgage.
Mortgage Bankers Mum on How They Fixed Their Own Mortgage Woes
Is the Mortgage Bankers Association embarrassed by the way it resolved its own mortgage mess? In any case, officials of the trade group are refusing to provide details on that question.
4Kids Entertainment CEO Purchases Madoff Penthouse
Toy magnate Alfred R. Kahn has bought Bernard Madoff’s Manhattan penthouse, according to a person familiar with the deal.
Hedge Funder Battles to Keep Park Ave. Rent at $380
A Manhattan hedge funder is fighting to hang on to what has to be the best rent in the city: $380/month for a Park Avenue duplex.
Trouble on South Beach: Achenbaums Sue Over Gansevoort Hotel
Miami vice, indeed. The strife at the trendy Gansevoort South Hotel on Miami’s South Beach continues.
Manhattan Skyscraper Proves a Tough Sell for SL Green
The would-be buyer of a major interest in a $500 million Manhattan skyscraper has sued the seller, SL Green Realty Corp. alleging breach of contract.
Madoff?s Penthouse Goes Into Contract
Bernard Madoff's Manhattan penthouse has gone into contract for an undisclosed price. It was originally listed for $9.9 million in September and later was cut to $8.9 million.
