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2008/10/29

Real Estate Update

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The Wall Street Journal Real Estate

October 29, 2008 -- 9:30 a.m. EDT

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Trump's tallest construction project, a 92-story Chicago skyscraper, is facing challenges as loans come due.

http://online.wsj.com/article/SB122523704293478077.html?mod=djemRealEstate

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When will housing's sickening slide stop? Don't despair - economists forecast that home prices will bottom out as early as the middle of next year. June Fletcher advises on what's to come.

http://online.wsj.com/article/SB122522301876377101.html?mod=djemRealEstate

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The S&P/Case-Shiller home-price indexes, a closely watched gauge of U.S. home prices, showed prices in August in 20 major metropolitan areas dropped 16.6% from the prior year and 1% from July. - Sortable Chart: Home Prices, by Metro Area - Video: The Outlook for U.S. Home Prices

http://online.wsj.com/article/SB122519826778275869.html?mod=djemRealEstate

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GM wants to unlock its equity in the five Renaissance Center towers it owns in Detroit.

http://online.wsj.com/article/SB122523360218877781.html?mod=djemRealEstate

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The two board members who took top executive posts at General Growth this week will likely inspire confidence from lenders, say analysts.

http://online.wsj.com/article/SB122523855916178213.html?mod=djemRealEstate

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Grand Investment faces a construction-financing deadline on its multibillion-dollar downtown Los Angeles project, but the New York developer has won a confidence boost in the form of fresh equity from South Korea.

http://online.wsj.com/article/SB122523261946177761.html?mod=djemRealEstate

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Lower home prices are luring buyers back into the U.S. housing market, but foreclosures and the weak economy may keep a downward pressure on prices.

http://online.wsj.com/article/SB122514834086373809.html?mod=djemRealEstate

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Debt-laden mall owner General Growth has replaced CEO John Bucksbaum and President Robert Michaels and put three Las Vegas malls on the market.

http://online.wsj.com/article/SB122511099246271725.html?mod=djemRealEstate

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New-home sales increased by 2.7% last month as inventories declined and builders slashed prices to their lowest level in four years. - Econ: FOMC Returns to Scene of the Crime

http://online.wsj.com/article/SB122511538802571805.html?mod=djemRealEstate

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Existing-home sales have built a bottom, while new-home sales haven't stopped drilling their way to the center of the earth.

http://online.wsj.com/article/SB122506412444070429.html?mod=djemRealEstate

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