Word: localitis
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...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 suburban house, owned but never occupied by a coal magnate from Shanxi province. "How much does he want for it?" he asked a local real estate agent in late February. When told the answer was $735,000, Yang didn't blink. "I'd like to make an offer." (Read "Bubble Trouble: Why Real Estate Is China's Biggest Headache...
...Beijing, which is seeking to tighten credit growth generally, and property loans in particular. The latest budget report from the Ministry of Finance, released to coincide with the opening of the National People's Congress in Beijing on March 5, draws attention to debt levels being incurred by local governments forging headlong into massive infrastructural and development projects. Even as it was being distributed, Premier Wen Jiabao was telling NPC delegates that the authorities would slow both lending and new construction in 2010, and place additional curbs on speculative property investment. A mortgage discount for first-time property buyers - which...
...semblance of normality has returned to Marjah under the watchful presence of 15,000 NATO and Afghan forces. Even President Karzai, who seldom leaves his Kabul palace for fear of assassination, was emboldened to pay a flying visit to a local mosque on March 7. He listened while local elders scolded him over his choices of corrupt officials posted to Marjah and the civilian casualties caused by the NATO assault. They also demanded that he build schools and hospitals and provide jobs. "They had some very legitimate complaints - very, very legitimate," Karzai said soberly as he left the mosque. "They...
...must deliver good government to Marjah - something he has failed to do in Kabul - and quickly, or the drug syndicates will be back. Much of the burden will fall to dozens of Afghan officials who arrived on the back of the military offensive to set up a new local administration - McChrystal's so-called government in a box. It has not gotten off to a promising start, though. Abdul Zahir Aryan, the man picked to be the district chief of the new Marjah administration, has a far-from-stellar record. He left for Germany in 1989 and bounced between...
...with it have deferred dreams of a Gowanus renaissance, if not quashed them altogether. During the past decade, as the real estate boom drove New York housing prices higher and higher, there seemed to be no land in the city that couldn't somehow be salvaged. The city joined local activists to zero in on the Gowanus Canal, hoping it could become the anchor for a neighborhood renewal. Several developers announced plans to construct new apartments; Whole Foods, a harbinger of upward mobility, purchased a nearby parcel. In recent years, sightings of jellyfish, cormorants, bass and even a harp seal...