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Blackstone’s new real estate play: the rent-to-buy market
When Frank Sledge took out a mortgage on the eve of the 2008-09 recession, he set off a series of personal disasters that ended in bankruptcy, foreclosure and ejection from his Florida home. Unable to obtain another loan, Sledge thought the door to home ownership had slammed shut. But then a company backed by Wall Street investors made him an enticing offer: it would buy a house of his choice and rent it to him, with the promise that he could purchase the property for a fixed price if he came up with the money within five years. “I thought the value of the house would go up,” says Sledge,…
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ANALYSIS-China’s property woes put prestige global projects in play
By Marc Jones, Tommy Wilkes LONDON, Oct 31 (Reuters) – China’s property sector woes could spell trouble for status mega-assignments in London, New York, Sydney and other top towns as the developers driving them scramble for money. Although China Evergrande Group’s struggles have dominated the disaster, the hazard to multi-trillion dollar world wide assets markets stems from some of its rivals that have spent the previous ten years competing to construct ever taller and grander skyscrapers. Shanghai-dependent Greenland Holdings, which breaches as lots of of China’s personal debt “pink strains” as Evergrande, has just crafted Sydney’s right here tallest residential tower, has options to do the identical in London spirelondon.com…
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