News

Interest rate cuts boost new home lending in Australia

Housing finance figures for December 2011 reveal that the November and December official interest rate cuts had a positive impact on home buyer confidence and new home lending in Australia, according to the Housing Industry Association, the voice of Australia’s residential building industry.

NAR strongly oppose to elements of President Obama’s budget proposal

According to the latest National Association of Realtors president Moe Veissi’s statement, NAR is strongly opposed to elements of President Obama’s budget proposal

Empire State Building Owner Files for IPO

The new company, Empire State Realty Trust, is seeking up to $1 billion in funding for control of a dozen office buildings, including the Empire State Building, totaling 7.7 million square feet. It will trade under the symbol "ESB" and offer Class A common stock to the public. It will also have Class B stock with 50 votes per share. Anthony Malkin, scion of the real estate family, will be chairman and CEO of the new company.