Real estate industry
Australian building giant Meriton's large apartment block development in western Sydney has been halted due to environmental concerns surrounding contaminated soils. The Construction Forestry Mining Energy Union (CFMEU) claims that up to 100 construction workers have been stood down from the site at Rhodes, in Sydney's
Real estate industry
Beverly Hills-based Shapell Industries, a parent company of S&S Construction and Shapell Homes, has maintained profitability despite the severe housing market downturn. Contrary to other developers that have filed for bankruptcy or ceased operations, Shapell has continued to build and sell homes, with evidence of a robust market
Real estate industry
Industry bodies NAREDCO, CREDAI, and FICCI have submitted a pre-budget memorandum to the Housing and Urban Poverty Alleviation Ministry, urging the government to reintroduce section 80IB (10) of the Income Tax Act for the housing sector. This move would grant 100% tax exemption on income from housing projects with a
Real estate industry
Seniors in Australia are increasingly turning to reverse mortgages to boost their income, pay off debts, and fund home renovations, according to a study by Royal Bank of Scotland (RBS) and Deloitte. The study of 425 retirees found that 32% of funds from reverse mortgages were used to repair and
Real estate industry
Front Porch, a non-profit provider of senior living communities, was recognized for its commitment to creating innovative and vibrant communities for older adults. The 2009 National Association of Home Builders (NAHB) 50+ Housing Council honored Front Porch with nine awards, including four Gold and five Silver awards, for its design,
Real estate industry
The tax system in the United States provides a significant subsidy to homeowners through the mortgage interest deduction and other tax benefits. The total subsidy is estimated to be around $110 billion, with the majority coming from the deductibility of mortgage interest. However, the subsidy is not evenly distributed among
Real estate industry
Fitch, a leading credit rating agency, has downgraded the credit ratings of Indian real estate developer Purvankara Projects and its debt program due to the challenging housing environment and financial constraints faced by the company. The rating was downgraded by one notch, with the long-term debt being revised to '
Real estate industry
The Board of Investments (BoI) has approved P4.634 billion worth of projects, primarily focused on low-cost mass housing developments, a sector that continues to receive tax and fiscal incentives from the government. The approved projects include five housing projects and one furniture export project, showcasing the government's
Real estate industry
The housing bubble's impact on the US economy can be attributed to the significant increase in mortgage equity withdrawal, which allowed homeowners to borrow against their rising home equity. According to a recent academic paper by Atif Mian and Amir Sufi, homeowners extracted an average of 25 to
Real estate industry
The Australian government has made a crucial move to bolster the real estate market by extending the boosted first home buyers grant, which was set to expire on June 30. The decision will see the grant continue to provide up to $7,000 for new homes and $3,500 for
Real estate industry
A recent release from the Australian Bureau of Statistics (ABS) indicates that the housing sector is showing signs of improvement, with a rise in residential building approvals in March. However, this growth is still mostly driven by green shoots, which, although promising, are not yet enough to signal a full
Real estate industry
As one of the first cities to be hit hard by the real estate collapse, Sacramento's housing market is now showing tentative signs of recovery. With sales up 45% from last year and the backlog of inventory diminishing, indications of progress are evident in other hard-hit areas such
