My curiosity piqued by an article in today’s Wall Street Journal, I surfed the Web and found a website for a luxury housing development under construction now in … Iraq.
Pictured here is what seems to be an artist’s conception of the development’s mall.
Admittedly, Iraq is not at the top of most Americans’ lists for second home purchases. But the website is worth a look anyway. (And a listen: the theme from “Chariots of Fire” is playing.) For what it’s worth, it’s in Erbil in Kurdistan, which is the safest part of Iraq.
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.