property news stories on Newser

Family Tells UN: We Own Machu Picchu

Neal Colgrass — Mon, 12 Sep 2011 16:05:30 CDT

Talk about a property dispute: A Peruvian family says it owns the land of the Machu Picchu ruins, and is taking the case to the United Nations. Seventy-year-old Edgar Echegaray Abril still has the sale deed showing that his family bought the land with gold in 1910. Yes, they sold...

For Sale: Entire Italian Village

Rob Quinn — Tue, 19 Apr 2011 06:06:49 CDT

For just $780,000, you could become signore of your own Italian village—albeit one without any villagers. An abandoned medieval village in the heart of one of Italy's biggest national parks has been put up for sale by the local council and an elderly man who owns some of...

11% of US Homes Vacant

Rob Quinn — Wed, 02 Feb 2011 02:40:27 CST

The latest census figures on the housing market make for grim reading for homeowners. Some 18.4 million homes are vacant—11% of the nation's housing supply—and home ownership rates are dropping rapidly, CNBC reports. Prices are down year-over-year in all 28 major metropolitan areas tracked by the Wall...

Chinese Farmer Fights Developers with Homemade Cannon

Rob Quinn — Thu, 10 Jun 2010 04:09:19 CDT

Land grabs by property developers in league with local governments are common in China. Yang Youye's solution isn't. The 56-year-old farmer has been using a homemade cannon fashioned from pipes, a wheelbarrow, and fireworks to fend off teams of thugs sent by developers, the Telegraph reports. "I only shot over...

Millions Considering Walking Away From Mortgages

Rob Quinn — Wed, 03 Feb 2010 04:56:23 CST

The long slide in property values has left huge numbers of homeowners considering just walking away from their mortgages. People start thinking about jumping ship when their home value falls below 75% of what they paid for it, according to new research. Over 5 million Americans are expected to be...

World's Priciest Apartment Sells for $56M

Jason Farago — Thu, 15 Oct 2009 05:50:35 CDT

A mainland Chinese buyer has purchased the most expensive apartment in the world, a duplex at the top of a Hong Kong highrise selling for $56.6 million. Hong Kong exited recession in the second quarter and its property market has rebounded strongly, although with prices up 30% this year...

Faux Owners Dress Up Luxury Homes for Sale

Rob Quinn — Sat, 25 Apr 2009 10:41:40 CDT

The slump at the top of the property market has been a bonus for people who can make a mansion look like a happy home but can't afford one of their own, reports the Wall Street Journal . Realtors stuck with empty luxury homes have been seeking the services of resident...

Foreclosures Soar 81%

Rob Quinn — Thu, 15 Jan 2009 06:05:03 CST

Foreclosures rocketed 81% in the US during 2008, affecting one of every 54 households in the nation, reports Reuters. A total of 3.2 million foreclosures were filed, according to research firm Realtytrac. The hardest-hit states were Nevada, Florida, Arizona, and California, the same states where property prices surged the...

No Charges for Texas Man Who Shot Neighbor's Burglars

Nick McMaster — Tue, 01 Jul 2008 14:59:04 CDT

A Texas grand jury’s decision to take no action against Joe Horn, who killed two burglars on his front lawn, has focused attention on the state’s “deadly force” laws, the Houston Chronicle reports. Horn’s life was not in danger until he confronted the thieves fleeing his neighbor’s house, but his...