Word: condo
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...evacuees, the constitutionality of assistance matters far less than the assistance itself. The day before Katrina hit, Albert and Anne Betz moved with Jane Todd, 10, and Owen, 7, out of soon-to-be drowned Pass Christian, Miss., and into a condo in Sandestin, Fla. Back home, Anne had taught at the children's private Episcopal school, but the couple heard that the best schools near Sandestin were public and were happy with the one to which their kids were assigned. Within days, however, Anne received a letter from the Walton County School District stating that the onslaught of evacuees...
...different styles. There are limitations in hand drawn. In CG you can do things that are much more complicated." But some still thought the very notion of a change sacrilegious. To abandon the grand old style for 3-D would be like tearing down Chartres to put up a condo...
...Investment homes," as they're often called, used to represent a fraction of U.S. housing sales, but according to the National Association of Realtors they made up almost a quarter of home purchases last year. It's one reason why U.S. home prices have lept 50% since the 1990s (condo prices have risen 57%) and why fewer than an estimated fifth of Californians can afford a median-priced home in their state. Developers complain that when investors snatch up units pre-construction and then sell them off before the sodded grass is even put down, it essentially means the developer...
...sole purpose of quickly selling it off for a profit, usually before construction is completed and often without even taking title to it. But Bianchi, a real estate broker and co-owner of Paradise Properties in West Palm Beach, Fla., who says he may soon flip a luxury condo himself, admits that his convictions about the practice are being tested in today's housing-price boom when homes in his area of Florida are jumping 35% a year. "Flipping," says Bianchi, "is turning into a negative phenomenon. In reality, it's pushing the market up too fast...
...What's also at stake, say the developers, is the status of the "home" as something more than a commodity as instantly tradable as pork-belly futures. When the prime purpose of a house or condo becomes hedging instead of living, they argue, it eventually loses the cachet of residential and community stability that keeps property values strong in the long term. "If there is no sincere interest or care about the actual use of the property," says Robins, "it won't be worth that much over time. It jeopardizes the market." In an exchange this month on the Inman...