Word: homeness
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...effect on small businesses. "Credit conditions may be particularly tight for small businesses because their finances are, in many instances, very closely intertwined with the personal finances of their owners," she said. For example, the owner of a small business who also owns a house may see a lower home price weigh down the creditworthiness of his business. (See which businesses are bucking the recession...
...enough lending to go around. Part of that has to do with many small banks' capital constraints - money they would lend is still tied up in those real estate loans. Just as important, though, other places business owners have looked to for funding in recent years, like home-equity loans and credit lines from nonbank finance companies like CIT, aren't likely to bounce back to their former glory anytime soon...
...Orleans, Dr. Kristopher Kaliebe, an assistant professor at Louisiana State University who works with Drell, has telemed equipment set up in his home. Some of his time is spent videoconferencing with patients in a juvenile-detention center who have been diagnosed with such conditions as bipolar disorder, severe depression and posttraumatic stress disorder. "Once the conversation starts," he says, "the kids forget there's a screen between...
...threads his taxicab every day through the epic traffic jams in and around Shanghai, jabbering on his cell phone and muttering under his breath, Yang Jinyu seems an unlikely real estate mogul. But when the government asked him to move out of his central Shanghai home so that the land it was on could be sold for redevelopment, he took the compensation payment and bought an apartment on Shanghai's outskirts. Eight years later, after cleverly parlaying that first asset, the cabbie owns three apartments in the city and has his eyes on something bigger: a lovely five-bedroom, riverfront...
...among home buyers in China, is there a significant amount of debt financing. According to Patrick Chovanec, a professor at Beijing's Tsinghua University who studies the Chinese real estate sector, only about 50% of residential purchases are made using mortgages. The other half are paid for in full at the time of acquisition. (In the U.S., by contrast, over 90% of residential housing transactions are financed with mortgages.) One of the reasons for this is that, just like Yang, many Chinese have been moved out of formerly state-owned housing units in urban areas as part of redevelopment projects...