Real Estate News: Bernanke Says Low Rates Didn’t Fuel Bubble

Christie’s International Real Estate
Actor Mel Gibson has relisted his Costa Rica property for $29.8 million.

Here is a look at real-estate news in Friday’s WSJ:

Bernanke Says Low Rates Didn’t Fuel Housing Bubble: Federal Reserve Chairman Ben Bernanke cited several reasons Thursday to believe the central bank’s low-interest-rate policies in the early 2000s didn’t cause the recent housing bubble.

BofA Tests an Option to Foreclosure: Bank of America is launching a pilot program that will allow homeowners at risk of foreclosure to hand over deeds to their houses and sign leases that will let them rent the houses back from the bank at a market rate.

A Canyon Separates Foes in Grand Battle: A legal battle over eminent domain on an Indian reservation in Arizona is  testing the limits of business partnerships between tribes and non-Indians.

U.S. Battles Home Builder Over Pay Probe: The Labor Department has stepped up pressure on PulteGroup Inc. in what has become a nasty battle between the Michigan-based home builder and the Obama administration over an investigation into the housing industry’s pay practices.

Mortgage Costs Rise in Europe on Debt Woes: Banks in some of Europe’s most troubled economies have been steadily raising the rates they charge for mortgages, making it more expensive for citizens to buy homes or keep up their payments at a time when such countries desperately need people to spend.

New York:

Warehouse Collapse Kills Worker in Columbia Expansion: A nearly century-old warehouse that was being demolished to make way for Columbia University’s expansion into Harlem collapsed on Thursday, killing a construction worker and injuring two others, the city’s top buildings official said.

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