Word: buyer
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Dates: during 2000-2009
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...visit, I saw little evidence that video pirates were running scared. Vendors openly hawked copies of recent Hollywood hits along with popular films from India's film industry, Bollywood. Many of the covers featured misspellings - Judd Apatow's Knicked Up, anyone? - but at $3 each, it's still a buyer's market...
Such thinking clearly resonates with millions of people in their 40s, 50s and 60s who are keeping the second-home market alive. Last year, even as sales of primary residences fell, vacation-home sales rose nearly 5%, says the National Association of Realtors. The typical buyer of a vacation home was 44; a third of those people said they plan to move to the home full time later...
...foreclosure process, so as default rates soar, more are willing to negotiate with real estate agents representing a bid that's technically too low. (Short sales are becoming so commonplace that Beitler added a chapter about them in the upcoming second edition of his book.) The downside, from a buyer's perspective, is that even after a bank agrees to consider a short sale, it might taken months to respond to a specific offer...
...Ancient Street is for the casual fossil buyer, of course; Chinese moguls and Western collectors head instead for dealers like Wang Facai (literally meaning "fortune"), whose store called Rare Stones, carries no precious jewels, just some dusty Ming vases (likely fakes) and cheap fish fossils scattered on the shelves. The bulky Wang, in a muscle T-shirt, glances around before beckoning me into one of two back rooms. From a secret closet behind a mirror, he pulls out a slab of rock which contains the profile of a half bird, half dinosaur, Confuciusornis sanctus, whose discovery in 1994 helped scientists...
Back in Colorado, people are reacting. This summer, three laws went into effect that, among other things, require anyone selling a home loan to make a reasonable inquiry into the buyer's ability to repay it. In recent years, as a growing percentage of loans have been generated by brokers rather than the banks that ultimately owned the mortgages, best interests have been at odds: brokers can make more money with higher-rate loans, even if buyers qualify for a better deal. And that doesn't even touch the lending arms of home builders, which come with their own special...