Here's a round up of this week's real estate news:
- Renters are getting less for their money in major cities during the housing crisis American Public Media reports that investors bought apartment buildings with the intention of making them into luxury units, but when they couldn't get low-income, low-rent tenants out right away they gave up and left buildings in disrepair.
-Real Living has merged with GMAC According to Inman, this means more expansion of Brookfield properties into the U.S.
-Property managers are having more problems with insurance claims and debt collection According to this Tribune article, the Institute of Real Estate Management's members are seeing more people try to find ways to get money out of their real estate than before.
- Chicago is behind on EnergyStar rated homes ZDNet reports that we didn't even make the top 20, and have fewer Energy Star rated homes than Oklahoma City. We need to get on that.
-Realtors reporting signs of improvement from tax credit Starting Point Realty has seen several buyers who otherwise would not have bought homes using the credit to get it done
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