Luxury homes in the news 09/10

The luxury real estate market continues to take a beating, despite the positive spin coming from certain quarters and these are a few headlines from around the world.

It looks as though the Barclays Center in Atlantic Yards is back on – although I doubt the planned 6,000-plus luxury condos will be built. And Ratner has left the announcement of the new plans so late that it makes a mockery of the whole process. To obtain the massive tax  advantages of being given tax-exempt bond status, construction needs to have started before the end of this year. And with several law suits in the air, plus more likely, I can’t see it somehow.

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