Real Estate

Matthew Perry downsized to an LA cottage in his final years

Beloved “Friends” star Matthew Perry left a lasting mark both on and off screen — and it turns out that in his final years, the actor was undergoing a major life transformation.

Perry, who passed away at the age of 54 this past weekend, had a rollercoaster ride of real-estate dealings that saw him trade sprawling mansions for a more modest cottage, just as he grappled with his demons and the quest for love.

As the world still mourns his loss, insiders have revealed that Perry was battling a profound sense of loneliness in the years leading up to his demise.

“He had a heart of gold and was doing his best to help others, but there was a loneliness there. He spent most of his days in his home and was very lonely,” a source shared.

In the summer of 2020, smack in the midst of the COVID-19 pandemic,

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Real Estate

China's economy will be hobbled for years by the real estate crisis

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world.


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CNN
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China’s robust growth, one of the fastest sustained expansions for a major economy in history, was propelled for decades by a housing boom fueled by a rising population and urbanization.

But the all-important property market, which has accounted for as much as 30% of the economy, fell into crisis more than two years ago after a government-led clampdown on developers’ borrowing.

Investment in real estate fell last year for the first time in a decade, and with no bailout from Beijing in sight, the property downturn is likely to drag on, posing a major threat to China’s growth prospects over the next three to five years.

“For China, the only way out of this [property] crisis is a slow

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Forec

SF rejected condo, Starbucks development years ago. Now it's back

A decade after the San Francisco Planning Commission rejected a Duboce Triangle condo development because of opposition to plans to put a Starbucks Coffee shop on the ground floor, the project is making a comeback.

And this time there will likely be no stopping it, thanks to a new state law that gives “ministerial” approval to housing developments on commercial corridors.

On July 12, developer Chris Foley filed an application to build a 20-unit mixed-use development at 2201 Market St. — 20 units over a Starbucks — becoming the first San Francisco property owner to use Assembly Bill 2011, a state law that went into effect July 1.

By enacting AB2011, the project at 2201 Market St. will not have to go through environmental review. It will not require Planning Commission approval. Nor will it have to receive the conditional-use authorization required for chains like Starbucks in many of the

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Real Estate

Buy Property in These 5 States To Be Rich in 5 Years

Countless millionaires built their fortunes from a single property, and you can too. But when choosing a state, remember that location is everything.

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“Investing in real estate has long been considered a reliable avenue for building wealth,” said Mike Qiu, owner of Good as Sold Homebuyers in Seattle. “While the real estate market can be unpredictable, certain states have consistently demonstrated promising potential for real estate investment. In the next five years, several states are expected to offer lucrative opportunities due to factors such as population growth, economic prosperity and favorable policies.”

If you’re looking for a place to start your journey to real estate wealth, the following five states should be at the top of your list.

Texas

Mark Severino, owner of Best Texas House

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Real Estate

China’s real estate slump predicted to last for years, threatening wider region

NANNING, CHINA – MAY 17, 2023 – A commercial residential property is seen in Nanning, South China’s Guangxi Zhuang autonomous region, May 17, 2023.

Future Publishing | Future Publishing | Getty Images

Weakness in China’s real estate sector could be a drag on the economy for years to come and could even impact countries in the wider region, Wall Street banks have warned.

“We see persistent weaknesses in the property sector, mainly related to lower-tier cities and private developer financing, and believe there appears no quick fix for them,” Goldman Sachs economists led by China economist Lisheng Wang said in a weekend note.

Goldman’s economists said the property market is expected to see an “L-shaped recovery” — defined as steep declines followed by a slow recovery rate.

“We only assume an ‘L-shaped’ recovery in the property sector in coming years,” they said.

Read more about China from CNBC

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