Did you know…
We celebrate Memorial Day as a day of remembrance for those who have died in our nation’s service. In contrast, Veterans Day honors all who have served. 1.1 million Americans have died in all the nation’s wars.
At Arlington National Cemetery, three unknown servicemen are buried at the Tomb of the Unknowns. Memorial Day [...]

Not a Boston condo topic, but still interesting …
From the WSJ: Recession Turns Malls Into Ghost Towns
One industry rule of thumb holds that any large, enclosed mall generating sales per square foot of $250 or less — the U.S. average is $381 — is in danger of failure. By that measure, Eastland is one [...]

We have a new winner for the biggest bank failure this year: Expect this debacle to cost the FDIC’s insurance fund $4.9 billion.
WSJ:
BankUnited’s failure is a stark reminder of how fragile many banks in the country remain. The U.S.’s 19 biggest banks this month performed better than expected on government “stress tests” and several large [...]

The Massachusetts unemployment rate increased to 8 percent in April from 7.7 percent in March, the state’s Executive Office of Labor and Workforce Development reported today.
The March rate was originally estimated at 7.8 percent, the office added.
The national unemployment rate climbed to 8.9 percent in April from 8.5 percent in March, the office said [...]

Today, The Warren Group released its latest foreclosure report which shows that the number of foreclosures dropped in April compared to a year ago and compared to March. Lenders also initiated fewer foreclosures.
Some good news for the state or is it just a blip?
Mortgage companies and banks had been holding back on pursuing foreclosures [...]

The construction company that built the luxury condo complex behind the Natick mall claims it is still owed $12.6 million for its work on the high-profile suburban project.
Dimeo Construction Co. said it has placed a lien on Nouvelle at Natick, the 215-unit condominium community owned by General Growth Properties, for unpaid building services, according to [...]

Congratulations to Premier Properties for being able to put 2 Avery St #32H under agreement for over $1,000,000. The last Ritz Tower condo to sell for over $1,000,000 was back in November 19, 2008.
That’s it the Boston housing slump must be over.
Looking to purchase a Boston Ritz condo?
Don’t wait too long there’s only a few [...]

From the Financial Times: BofA seeks to repay $45bn by end of year
Bank of America wants to pay back $45bn in bail-out funds by the end of the year, in a faster-than-expected move made possible by an accelerated programme to raise capital.
BofA is on track to raise more than $35bn in capital by [...]

The following is from a Wells Fargo Survey:
San Francisco — May 19, 2009
A Wells Fargo & Company (NYSE: WFC) quarterly survey found that nearly one in four homeowners (24 percent) do not have any savings to cover their living expenses should they lose their income. At the same time, anxiety over job stability increased significantly [...]

Since May 1, 2009, 288 Boston condos went under agreement. The least expensive was 81 Homes Street in Dorchester for $35,000.00. The most expensive, 128 Beacon Street that was listed for $4,495,000.
Out of the 288 Boston condos under agreement, eleven (11) were listed for over a $1,000,000.00:
Five (5) were in the Back Bay.
Four (4) were [...]