The middle-income housing projects Stuyvesant Town and Peter Cooper Village sit on an 80-acre patch of Lower Manhattan. In 2006, they came to epitomize the lunatic excess of the housing boom when their 11,232 apartments sold for $5.4 billion. They were bought at a competitive auction by Tishman Speyer Properties and BlackRock Realty.
The government-controlled mortgage giant Fannie Mae, which needed a $116 billion federal bailout after the housing bubble burst in 2007, said Tuesday that it earned a record $7.6 billion in fourth-quarter 2012 and $17.2 billion for the year.
When fortunes rise in the housing industry — as they currently are — it tends to lift sales for other businesses, too. Home construction, sales and prices are all improving. And according to many analysts, the market is gaining steam.
For nearly two decades, Scott Gillis has owned his own moving company, Great Scott Moving in Hyattsville, Md. Moving high season is just around the corner, which means Gillis is hiring.