Word: condominiums
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America's skylines once stood as stirring symbols of progress and prosperity. Yet in many cities the glass-and-steel monuments have now come to represent wretched excess. During the past five years, U.S. developers have constructed a breathtaking surplus of office towers, condominium complexes and hotels. In Los Angeles, a rusting, 17-story framework of steel girders on Wilshire Boulevard has stood idle for three years because of collapsed condo prices. Denver's tallest building, the 56-story Republic Plaza office tower, is only half rented despite such amenities as a concierge, an Italian-marble lobby, a car wash...
...second shock to the real estate industry was the decline of the condominium market. Until only about a year ago, the U.S. was crazy for condos. More than 2.5 million units opened in a decade. But that produced a vast excess of supply, notably in California, Texas and Florida. Speculators who had bought condos in the hope of fast price appreciation saw the shakeout coming and dumped even more of them on the market. At the same time, demand was dampened by the maturing of baby boomers, many of whom now aspire to move from condos to split-level suburban...
...were only a matter of law, the public would not feel stranded. He killed her, after all. Roswell Gilbert, a 76-year-old retired electronics engineer living in a seaside condominium in Fort Lauderdale, Fla., considered murdering his wife Emily for at least a month before shooting her through the head with Luger as she sat on their couch. The Gilberts had been husband and wife for 51 years. They were married in 1934, the year after Calvin Coolidge died, the year after Prohibition was lifted, the year that Hank Aaron was born. At 73, Emily had Alzheimer's disease...
...dreams back to when such a scene would have been unimaginable: she, sharp as a tack, getting the better of him in an argument; he, strong as a bull, showing off by swinging her into the air--on a beach, perhaps, like the one in front of the condominium where old couples like themselves walk in careful slow motion at the water's edge. Since the case became a cause, photographs of the Gilberts have appeared on television, she in formal gown, he in tails; they, older, in a restaurant posing deadpan for a picture for no reason...
...that Kelly and Beth are in college, Gibson frequently ducks away for weekends with her husband at their South Carolina condominium or relaxes aboard a 50-ft. Chris-Craft yacht they keep in Palm Beach, Fla. Says she: "I am a wife, a mother, a girl and a corporate president. I like it that way and in that order." It seems to be a formula for success...