Real Estate

Housing Recovery in U.S. Set Back to 2010 With Market on `Life Support' A recovery in U.S. housing will have to wait at least until next year.

Morgan Stanley Hands Over Crescent to Barclays to Win Forgiveness of Loan Morgan Stanley agreed to hand over a real-estate business acquired in 2007 to Barclays Capital, ending the New York firm’s obligation on a $2 billion loan after taking almost $1 billion in losses.

D.R. Horton Slumps as Fourth-Quarter Loss Exceeds Analysts' Estimates D.R. Horton Inc., the second-largest U.S. homebuilder, dropped the most in more than a year after reporting a fourth-quarter loss that exceeded analysts’ estimates and saying the housing outlook remains difficult.

Santiago Watches Stalled Skyscraper for Clues to Chile's Economic Recovery Costanera Center sits half-finished at the heart of Santiago’s financial district, its exposed concrete and reinforcement bars contrasting with the glass-faced skyscrapers surrounding it. A banner at the silent, empty building site says “Icon of Latin American development.”

`Overvalued' U.K. Housing Market May Not Return to Peak Prices Until 2014 U.K. house prices will probably fall next year, and it may take until 2014 to return to the levels at the 2007 peak of the country’s biggest housing boom, according to a Bloomberg survey.

Fed Makes Monitoring Capital Adequacy Foremost Concern Amid Talk of Bubble Federal Reserve officials are stepping up scrutiny of the biggest U.S. banks to ensure the lenders can withstand a reversal of soaring global-asset prices, according to people with knowledge of the matter.

Bank of America Wins Bid to Appoint Receiver for Chicago's Mall Project Bank of America Corp. won a court bid to appoint a receiver for Chicago’s Block 37 shopping mall after the developer defaulted, taking control of one of the city’s largest projects.

Istithmar of Dubai May Lose Control of W Union Square Hotel in Auction Istithmar PJSC, the Dubai-based investment company, may lose control of the W New York Union Square hotel in Manhattan at a foreclosure auction next month by holders of the mezzanine debt on the property.

U.S. Commercial Property Sales Likely to Decline to $49 Billion This Year U.S. commercial real estate deals are likely to fall to $49 billion in 2009, the lowest in records going back to 2001, Real Capital Analytics Inc. said today.

U.K. Housing Registrations Rise in Sign `Worst May Be Over,' Builders Say U.K. new housing registrations rose to the highest level since July 2008 last month in a sign “the worst may be over” for construction companies, the National House Building Council said.