Word: hugeness
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...foreclosed duplexes, then developing town houses and branching into condo conversions as the market went nuts. He soon built a statewide empire with 300 employees, including a staff priest who blessed his projects. He bought a waterfront mansion in Coral Gables, a fleet of classic cars, a Ferretti yacht, huge collections of fine wine, Cuban art and luxury watches. Just last year he spent $80,000 on an antique billiard table...
Keep the cell phone on, Paul. In some Miami high-rises, the foreclosure rate is as high as 1 in 4, and owners who still own are getting nailed with huge condo fees to make up for the lost revenue. Florida banks repossessed 620% more property last year than in 2006, and they're starting to unload nonperforming real estate loans for as low as 30¢ on the dollar. Miami topped a recent list of America's worst housing markets, just ahead of Orlando, with Tampa fourth. From 20% to 40% of the speculators who waited on lines...
...stretch of marshland border creates a difficult environment for Iraqi troops to operate, some officials say drug trafficking is on the rise. "Until now, the border forces do not have the capability to control the border," says police commander General Saad Ali Harbia in Maysan's capital, Amara. "A huge amount of drugs heading for the Gulf countries pass through Amara." He says the smuggling problem has only increased since the start of the war in 2003, "because the American forces don't control the border." Agence France Presse reported last week that drug-trafficking arrests in Amara...
...first-time home buyer in the U.K. these days, "getting a mortgage is like winning the lottery." That's an inevitable reaction to a slowing economy and the worldwide financial squeeze triggered by the U.S. subprime debacle. What nobody can predict with certainty is whether there are any huge financial risks still lurking undetected; in the aftermath of the subprime crisis it turns out that many banks underestimated the risks posed by the often-arcane financial instruments they were trading. European banks themselves say that most of the bad news is already out, and some - including Barclays...
...plan] demands huge efficiency gains from our current operations, aims at continuous improvement above and beyond our stated goals, does not make any convenient exemptions and, most importantly, includes future growth," Hunter said. "This means that if the University wants to grow, it will have to build extremely efficient buildings and take responsibility for any remaining emissions with reductions elsewhere on campus or high-quality offsets...