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Search results for "condos" ...

  • Condo Takeover

    This “Condo Takeover” series looks at what happened to Florida condos after the real estate crash in 2008-9. [] []
  • Chicago Takes on Bad Developers, With Mixed Results

    Some Chicago neighborhoods face a troubling conundrum. Thousands of condominiums that were built during the "housing boom" are "proving to be poorly built." Leaks and electrical issues are only a couple of the problems homeowners are facing. In an effort to help the homeowners, the city of Chicago filed lawsuits against the condo developers. The effort has backfired. Many developers have fled the country, which leaves the homeowners with thousands of dollars in repairs that are needed to fix the code violations.
  • Maxwell Street: The New Moneymakers

    This series spotlights the redevelopment of Chicago’s Maxwell Street Market and found a number of surprising details. These details reveal that the housing available for the poor, the poor are unable to afford and most of the housing goes to those who are well-connected and well-off. Also, with help from City Hall, the developers with political connections end up making large profits.
  • Moldy Metropolis: Homeowners Struggle with Leaky Concrete

    Poorly built condominiums and the homeowners are now seeing the consequences of the poor construction. The condominiums have severe mold problems, which is a result from using a material called split-free concrete block. The story reveals the lack of building inspection since the blocks should be built without leaks and inspected for leaks. Furthermore, if the homeowners complain to the city, they are held accountable for the code violation.
  • An Educated Guest: Parents purchase homes for kids at college to save on costly campus housing

    Many college students and their parents are saving money on room and board. To do this, they are buying off-campus houses and condos for the students to live in. Many might think this is more expensive, but the answer is it's less expensive than on-campus housing. It is less expensive because after buying these houses and condos, they can sell them and receive a profit off the sale instead of wasting money and never receiving a return.
  • A Staggering Swindle

    A real estate scam involving rented identities to purchase properties could cost the U.S. taxpayers millions. 81 bogus condos face foreclosure thanks to the scam artist Jim McConville.
  • The Real Estate Meltdown

    "Did Appraisers Juice the Market?" showed how appraisers overstated home values. Using disciplinary records and interviews, Shanklin and McClure found appraisers who exaggerated condo sizes, appraised homes without seeing them and stated that condos were worth the $240,000 sales price even though the price was padded with $40,000 of incentives. The "Subprime Mess" package was based on more than 2 million records and showed how unconventional loans moved from low-income, inner city neighborhoods to the burgeoning suburbs. "How Investors Helped Overheat the Market" explored the role of investors in Central Florida's real estate meltdown by analyzing hundreds of data records and found that sales of non owner-occupied homes grew from 25 percent of all local residential sales in 2002 to 70 percent in 2006.
  • Dumping Grounds?; Just Moving On; Six More Years

    "The Chicago Housing Authority will spend $1.6 billion on its 'Plan for Transformation'- a 10-year urban reform plan to destroy and tear-down more than 38,000 units of high-rise public housing and rebuild vibrant condo-style mixed-income housing in its place. Yet seven years into the plan, the authority has only built 1,600 replacement units of a promised 6,000 in mixed-income condos."
  • Senators Ski Cup

    Inside Edition reports that "For years, the House and Senate have been under public pressure to toughen the rules governing valuable gifts and travel they are allowed to receive from businesses, special interests and their lobbyists... So when producer Stewart Harris and correspondent Steve Wilson learned details about the Senators Ski Cup (charity event) held January 13-16, 1994 in Park City, Utah, they pack their bags and headed off for a first-hand look. ... documented first-class travel and accommodations offered to the nine senators who were the guests of 34 corporate sponsors...slopeside condos and chalets paid for with funds from sponsors..."

    KMSP-TV (Minneapolis) details how one man used dozens of phony corporations to assume mortgages from townhomes and condos, netted $50,000 a month renting out homes and ignoring mortgage payments; original owners were liable for mortgages when banks foreclosed, Nov. 13 - 15, 1990.