Kenya's Middle-Class Home-Buying Boom
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NAIROBI -- One recent Sunday, Paul Abeno, a mid-level computer sales executive, shuffled through aisles of brass cabinet pulls, colored tiles and tiny glass-encased models of three-bedroom homes landscaped with paper trees. He stared through the glass at Baobab Village.
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Kenya's seaside city Mombasa - and the nation's biggest industry - have taken a big hit after last month's riots swept the country
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Housing starts have been very high relative to the number of homes that builders are trying to sell.
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Kenyans face challenges as they play catch-up in the global explosion of outsourcing, an industry that India and other countries have turned into major job generators.
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Business & money: Packs blamed for drop in number of four-bedroom homes on market.
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The investment signaled the intense interest these days in companies providing services to the growing middle class of Russia.
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Not everyone has suffered from the current housing slump. Exceptions include entrepreneurs with deep experience in real estate and those who have carved out a special niche.
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ALBANY, N.Y. -- A four-bedroom, 1-bath colonial for only a $450 monthly mortgage payment? How can you go wrong? Lots of ways. Fair housing advocates say the first-time buyer of that $85,000 Syracuse, N.Y., home lost out in one of the many forms of &quot;house flipping,&quot; or the fast resale of property at high profits.
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The squeeze on home buyers' finances is highlighted by TUC and the Royal Institution of Chartered Surveyors reports.
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A growing middle class, cognizant of its fresh prosperity, shares readily with victims of the tsunami.
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Mortgage lending data show a sharp increase in the use of higher-priced ÂnonprimeÂ mortgages for home purchases in 2005 over a year earlier.
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By some measures, fewer people are managing to stay in the middle class.
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Foreclosures were once the turf of the  most aggressive investors, but these days ordinary home buyers  can hunt for fire-sale house prices on a wealth of Internet  sites.
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New figures suggest buying to let - a phenomenon of the housing boom - could be waning.
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Rising homeownership and higher-income households have helped U.S. remodeling spending reach new highs, a study by Harvard University found.
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Comment is free: George Monbiot: The middle classes congratulate themselves on going green, then carry on buying and flying as much as before.
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Homeowners increased their mortgage borrowing by almost $600 billion in the last quarter of 2006, an annual pace of 6.4 percent.