Word: overbuilt
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...office on Shanghai's famous Bund, and I half-jokingly told him I was a little nervous about my investment. Analysts' reports these days are full of tales about China's real estate bubble. Was it possible that the skeptics might be right - that Shanghai itself is already overbuilt, and the suburbs Guo is helping create are a bridge way too far? He looked at me as if I were from another planet, then smiled politely. "There is only one Shanghai in China," he said. "People want to come here from all over the country. People need good quality housing...
...Hearst people chose Foster, they knew they were getting an international star. Still, they might not have suspected he would give them the best building to appear in New York City in years. (It may also be a first sign of new hope for the city's beleaguered skyline, overbuilt with middling boxes. Major additions are now promised or under way from a long list of architects of Foster's caliber, including Frank Gehry, Fumihiko Maki, Renzo Piano and Richard Rogers.) What Foster has created is a 46-story notched glass tower covered with a webwork of triangles, called...
...office space available and under construction in the 22 largest U.S. cities has reached 318 million sq. ft., or about as much as 150 Empire State Buildings. The glut has rocked the real estate business and the financial system by sending rents and property values plummeting. "We have overbuilt in this country on an unprecedented scale," says J. McDonald Williams, managing partner of Trammell Crow, the largest U.S. developer...
TIME Are any markets overbuilt...
...convertible preferred stock in Williams. Buffett also cherry-picked a prize gas pipeline from Williams and another from distressed energy company Dynegy. These investments do not necessarily point to broad value in any particular industry. Level 3, for example, is an unusual play on the world's vastly overbuilt fiber-optic networks. Buffett believes Level 3 will be one of the few left standing in this area. But he's collecting 9% annual interest while he waits. The common stock is far more risky...