Word: booming
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...until the financial crisis hit in 2008, threatened a cherished pillar of urban policy - affordable housing, which has long been regarded as essential for maintaining vibrant diversity in our cities. The victims are among the huge numbers of Americans (estimated at close to 100 million before the latest housing boom promoting homeownership) who rent their primary residences - poor, working-class and even middle-class folks - who have been overshadowed in the deluge of media coverage of the debacle in single-family housing. (Affordable housing refers to that costing no more than a third of a family's income...
...catastrophe and was amazed at the speed of physical and economic recovery. In Dujiangyan, the largest city in the quake zone, the rubble and tent cities had disappeared. The jumble of debris was replaced by piles of new bricks, lumber and other construction materials. There was a building boom across the region, and dozens of temporary villages were erected to house the 5 million people who were rendered homeless by the quake. The prefab housing was made out of blue aluminum siding lined with Styrofoam insulation. It had concrete floors and was arranged in neat rows in flat spots...
...contemporary Philippine artists such as Geraldine Javier, Winner Jumalon and Benedicto Cabrera are being sold with increasing frequency and success at auctions and galleries in Hong Kong, Singapore, London and New York City. Mok Kim Chuan, the head of Southeast Asian art at Sotheby's, calls it a nascent boom with room to run. "It took 20 years for Indonesian art to grow to where it is now in the market," he says. "The Philippines has only just started...
...residential real estate bust has been a slow-motion wreck too. (It started in 2006!) But the commercial meltdown will take even longer for two main reasons. One is that while commercial real estate lenders certainly got sloppy during the boom, they didn't go utterly crazy the way their residential peers did. Commercial lenders still demanded down payments and evidence of income. They didn't factor in a 40% decline in prices or the worst economic downturn in 70 years. The housing bust preceded and precipitated the recession. The commercial bust is an aftereffect. (See 25 people to blame...
...easy to conclude that Dubai and its real estate developers crossed it when they planned the newly opened Burj Khalifa, which, at 2,717 ft. (828 m), is by far the tallest building in the world. Since the skyscraper was planned, the tiny emirate's go-go boom has stalled, and its real estate bubble popped. But there's another way to look at the Burj Khalifa--which you can do on a clear day from 60 miles (100 km) away. The building supplanted an unlovely tower in Taipei as the world's tallest. Its closest competitors are also...