Word: investor
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Dates: during 2000-2009
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...they wouldn't otherwise have contemplated. "Researchers are shameless in colluding with the drug companies in a lot of their shenanigans," says Angell from her home in Cambridge, Massachusetts - and for her that's the most demoralizing part of the mess. "In a sense drug companies are doing what investor-owned companies do - they're trying to maximize profits." But the medical profession, she says, "has fiduciary responsibilities to the public and it's letting its greed get in the way (of meeting them...
...Still, a growing number of developers nationwide are increasingly working "anti-investor clauses" and other "flip-buster" weapons into their sales contracts. Many now demand that buyers pledge in writing that they'll actually occupy the home they buy (or at least disclose whether the unit will be a primary or secondary residence or merely an investment). Others, like Robins, limit the number of units a person can purchase in any one development; and some, like StarPointe Properties of Arizona, are requiring investors to close on (and take title to) the property they're buying. Hilton and Meritage, as well...
...Investors counter that the flip-busting measures are a violation of free-market practices and a worrisome, if not illegal, form of real estate discrimination. The enforceability of anti-investor clauses is still in question, but Hilton says Meritage's attorneys have assured him that his company's pending cases against investors "will stand up," and no investor has yet filed a suit against the anti-investor measures. In the meantime, it appears the investors may have trouble erasing an image, fair or not, as the bad guys of this housing boom...
...Jefferson, whose New Orleans and Washington homes and offices, as well as his car, were raided by the FBI at the beginning of the month. Jefferson is the target of a long-running FBI sting operation investigating whether the Louisiana Democrat pocketed hundreds of thousands of dollars of an investor's money in a business deal involving a high-tech company. Jefferson allegedly promised to use his congressional influence to get government contracts for the firm. Jefferson's lawyer told the Washington Post he is confident his client "did not pocket any money...
...Rising interest rates rise make borrowing money less attractive, leaving fewer buyers in the market. Barring some cataclysmic event that prompts emergency government action to rescue the economy, economists don't expect interest rates to decline any time soon. As Phyllis Rockower, home-investor and founder of the Real Estate Club of Los Angeles, says, "The easy money is over...