Real Estate

  Bloomberg Russia and Iran agreed to strengthen transport connections, including a potential railway link through Azerbaijan that would aim to grab a share of the cargo now being shipped through the Suez Canal. Russian President Vladimir Putin and his Iranian counterpart, Hassan Rouhani, discussed the plan during a rare joint visit to Azerbaijan on Monday. The fight against terrorism ...

  DETROIT / AP Ann and Oscar Mack had fallen behind on property taxes and knew they faced foreclosure on their home of 20 years. But they didn’t know their house on Maiden Street, in a blighted east side Detroit neighborhood, was already listed for auction. No one “let us know we were about to lose our house,” Ann Mack ...

  Bloomberg British Columbia’s decision to impose a 15 percent tax on foreign buyers to cool Vancouver’s scorching housing market is poised to derail more than 400 deals worth millions of dollars and may prompt calls for legal action. At least 427 deals are likely to collapse due to the new measure, according to Dan Morrison, president of the Real ...

  Bloomberg Even in the pre-crash era, when real estate prices were surging, nine-figure deals for properties seemed outlandish. Then beginning in 2015, with ultra-luxury sales on the decline and homes in the seven and eight figures languishing on the market for twice as long as the year before, as well as undergoing price cuts, their existence seemed futile. Yet, ...

  Bloomberg Shares in Chinese property developer Glorious Property Holdings Ltd. were suspended Monday in Hong Kong pending an announcement about a privatization bid by the company’s founder and controlling shareholder. Glorious Property requested a halt in trading at 9 a.m. local time ahead of an announcement “containing inside information in relation to a possible privatization by the controlling shareholder ...

  Bloomberg In late 2014, fledgling entrepreneur Josh Tetrick persuaded investors to plow $90 million into his vegan food startup Hampton Creek Inc. Tetrick had impressed leading Silicon Valley venture capital firms by getting his eggless Just Mayo product into Walmart, Kroger, Safeway, and other top US supermarkets within about three years of starting his company. What Tetrick and his ...

  Bloomberg Pete Pollinger and his wife, Julie, are relocating from Boca Raton to Melbourne, a city of about 70,000 on Florida’s Space Coast, named for its proximity to NASA rocket sites at Cape Canaveral and the Kennedy Space Center. They weren’t just hunting for a place to live. As they get ready to move this year, they’re also looking ...

  Bloomberg Evergrande Real Estate Group Ltd., controlled by billionaire Chairman Hui Ka Yan, paid 9.1 billion yuan ($1.4 billion) for a 4.68 percent stake in China Vanke Co., the competitor embroiled in an ownership tussle with a key shareholder. The Guangzhou-based developer bought Vanke’s Shenzhen-traded shares through a unit, it said in a filing to Hong Kong’s stock exchange ...

  Bloomberg New York’s condo slowdown is upending the market for one of the most coveted assets in tightly packed Manhattan: land. Sales of parcels for development are plummeting as builders, seeing signs that a once-hot property market is cooling, offer prices that sellers won’t agree to. Just 48 land deals were completed in the first half of 2016, compared ...

  Bloomberg For real estate developers such as Jeff Peterson, losing construction workers who can hang drywall, install plumbing and pour concrete in the San Francisco Bay area has become routine. “Guys are literally going to jobs and saying to the concrete crew, ‘Hey, what are you making per hour?’” said Peterson, a purchasing director at Trumark Cos., a San ...