News

US Treasury Department to Track Anonymous Buyers in Luxury Real Estate

The US Treasury Department has rolled out a program in New York and Miami that will closely monitor all-cash purchases of luxury apartments. The said program requires the identification of anonymous buyers involved in transactions about $3 million. Title insurance companies are now obligated to track down the name of their buyers and submit the information to a database that the Treasury Department will make available to law enforcement.

Global Milestone Reached: There are Now Officially 100 Supertall Skyscrapers in the World

The Council on Tall Buildings and Urban Habitat officially confirmed 432 Park Avenue as the 100th supertall building in the world when the 1,396-foot tall condo tower sold its first unit meeting the council's "partially occupiable" criteria.

Foreclosures Fall to Lowest Level Since 2007, Says CoreLogic

"After peaking at 3.6% in January 2011, the foreclosure rate currently stands at 1.2% - a remarkable improvement," said CoreLogic's Chief Economit Dr. Frank Nothaft. "While there are still pockets of areas with high foreclosure activity, 30 states have foreclosure rates below the national average which is evidence of the solid improvement."
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