Real-Estate News: Housing Gloom Lifts in Detroit Suburbs ...

Here is a look at real-estate news from Wednesday’s WSJ, including the Property Report:

Housing Gloom Lifts in Detroit Suburbs: Just outside bankrupt Detroit, where thousands of homes are being sold this week at auction for as little as $500, real estate is hot again.

Former Miami Beach Hospital Is Going Condo: A South Florida developer is converting a closed Miami Beach hospital into a condominium, the latest example of an obsolete hospital property being brought back to health as a residential project.

Real-Estate Pioneer Loses Its Touch:Vornado loses $250 million on an investment in J.C. Penney.

Italy Attracts Real-Estate Investors From Abroad: Foreign investors are showing a growing appetite for Italian commercial real estate, a sign that the gradual improvement of the European economy is being felt in some of the Continent’s weaker property markets.

Dubai Launches New Real-Estate Boom: Despite thousands of vacant apartments in Dubai, developers are moving ahead with billions of dollars in new projects.

Carlyle Jumps Into Niche Space:Carlyle Group, a private-equity firm that has interests in everything from an oil refinery to a vitamin maker, is adding trailer parks to its portfolio.

Home Builders Cite Waning Confidence: U.S. home builders are feeling less confident about the sector’s rebound amid worsening housing affordability and the high-stakes fiscal standoff in Washington.

House of the Day: The historical home featured in the movie ‘The Big Chill’ has original 19th-century detailing and an expansive waterfront view.

 

Source: http://blogs.wsj.com/developments/2013/10/16/real-estate-news-housing-gloom-lifts-in-detroit-suburbs/
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