The proposed financial bailout package being considered by lawmakers will come at a cost of as much as $700 billion.
To put it in perspective, using numbers from the U.S. Census, the $700 billion is equal to:

About $2,300 per American
About $6,000 per U.S. household
About 85 percent of the New York State economy
The combined economies of […]

September 18, 2008
Foreclosures: Trouble Tarnishes Paradise
In some of America’s wealthiest enclaves, the economic slowdown is putting multimillion-dollar mansions on the foreclosure list.
According to RealtyTrac, an online foreclosure marketing firm, “In this real estate cycle, no ZIP code, no neighborhood, was immune.”
The biggest drivers of problems in the mansion market were buyers who took out loans […]

The housing crisis is spreading to many luxury neighborhoods, as mansion-size defaults stun the industry. Robert Frank on who’s suffering, what places have been hit hardest — and who could be next.
By ROBERT FRANK
In 2003, Robert Provost snapped up a $2.5 million villa with its own boat dock in Sarasota, Fla. A finance chief for […]

 
Exotic properties can take chill out of winter
Colleen Biondi
For the Calgary Herald
Thursday, September 11, 2008
Calgarians have many options to choose from when it comes to selecting recreation property destinations.
And despite the economic uncertainty of many stateside venues, we remain drawn to southern climes which offer unique experiences or welcomed respite from the cold and snow […]