Today’s real estate stories of relevance:
Cendant Corp see lower earnings in Q4 – Associated Press by way of Crain’s Business Daily. The lower earnings aren’t the result of any softening in the real estate market, but due to weakness in their online international travel business (they plan on splitting up into four separate companies over the coming year, by the way).
Architectural Theft Adds Insult To Injury in Old New Orleans – by Christopher Cooper, The Wall Street Journal Online. Disturbing news out of New Orleans, although not as important as people being homeless and without power, of course.
Three months after Hurricane Katrina, much of New Orleans is still without electricity, and miles of its historic neighborhoods are virtually deserted. Tens of thousands of unoccupied homes, their doors kicked in by rescue teams, are standing unsecured in thinly patrolled neighborhoods.
In this environment, police say they have begun to see evidence of architectural pilfering, and they suspect out-of-state work crews are the source of much of the looting.
Preservationists worry that this is the beginning of an epidemic, and blame local salvage shops for buying stolen items and reselling them to out-of-staters.
Historically strong home sales predicted for 2006 – courtesy of Realtor.org. The National Association of Realtors