Luxury home builder Toll Brothers reports third quarter loss

Toll Brothers, one of the US’s largest builder of luxury homes reported a net loss of $472.3 million, a substantial increase compared to Q3 2008, where the company lost $29.3 million. This brings the total losses for 2009 so far to $644.4 million, bringing their net debt-to-capital ratio down to 14.5% from 18% at the […]

Candy & Candy sued by Mexican bank

Los Angeles luxury condos

Luxury property developers,  Christian and Nick Candy, have hit the news once again, and are being sued by Grupo Financiero Inbursa, a Mexican banking conglomerate owned by Carlos Slim. The lawsuit was filed in New York State court in Manhattan yesterday. The 11 page complaint alleges that CPC group, Christian Candy’s property development firm, has […]

Luxury Real Estate News Roundup 07/06

The Great Recession and the Real Estate Bubble Between 2000 and 2006, the real estate market was booming due in large part to easy mortgage terms. Countless people bought into the market driving prices up and spurring major new home construction. In late 2006 the market crashed. Borrowers began to default on loans they could […]

Luxury News from around the World

Melville House retains "Scotland's Most Expensive Foreclosure" Title

Luxury home construction in Brooklyn at a standstill; luxury home foreclosures attract the vultures, Russia’s luxury goods market dies a quick death; Luxury property portfolio goes to Auction in South Africa and Noho Square is sold at 66% off. As luxury home construction comes to a standstill in Brooklyn, owners are finding themselves living in […]

Luxury Real Estate – Over Supply and Bad Banks

Royal Bank of Scotland HQ

The luxury real estate market is beginning to fully feel the effects of the global downturn, with yet more bad news coming from the financial services sector and over-supply becoming a major issue. Bad Banks The financial services sector continues to supply bad news. I know I keep harping on about this, but until we […]