Architectural icons are generally anointed by the public, and sometimes a long time after they are built. So why do developers think that they can create instant icons?
![[Design Within Reach]](http://s.wsj.net/public/resources/images/OB-CS069_potoma_A_20081120164807.jpg)
The moribund housing market, as well as a growing environmental consciousness, is spurring efforts to give homes a new look without starting over.
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These days, everything has a knock-on effect. Earlier in the week, an analyst report on the potential default of a couple of commercial-mortgage deals caused a big hit to the corresponding credit market. That, in turn, has caused a selloff in the stocks of REITs.
Fannie and Freddie suspend foreclosure sales and evictions on certain properties until January as it prepares for its loan-modification program. (Statements)
![[Walt Disney is starting construction this week on a family resort, rendered above, in Oahu, Hawaii]](http://s.wsj.net/public/resources/images/PR-AB200_BLUEPR_A_20081118141036.jpg)
High fuel prices, the bankruptcy filings of Aloha and ATA, and the nationwide slump in consumer confidence have slammed Hawaii's tourism industry.
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Some mortgage companies are slashing the amount that borrowers owe, deciding that a permanent cut in the loan balance may pay off if that helps teetering borrowers avoid foreclosure.
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Mall giant General Growth Properties has hired bankruptcy counsel while it negotiates with lenders for more time to restructure its $27 billion debt load.
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Indian property developer Unitech is set to sell properties to meet loan repayments and land payments over the next few months.
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The market for debt used to finance commercial real estate tumbled on worries about rising defaults for commercial mortgage-backed securities.
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![[Bank of America CEO Kenneth Lewis wants the U.S. to rely more on private-sector institutions for home mortgages. He spoke Tuesday at the Detroit Economic Club.]](http://s.wsj.net/public/resources/images/MI-AT576_FANFRE_A_20081118154445.jpg)
Debate is heating up on the future of Fannie Mae and Freddie Mac as they struggle with heavy losses and investors continue to shy away from their debt.
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Many European real-estate companies are not only disclosing weaker results but also announcing new business strategies designed to ride out the recession.
HSBC was one of the first big banks to signal a subprime-mortgage meltdown. Now, the bank's struggles show the next stage of the crisis: aiding borrowers.
![[Photo]](http://s.wsj.net/public/resources/images/MI-AT559_INVEST_A_20081117205124.jpg)
Investors holding securities backed by Countrywide mortgages are criticizing Bank of America's move to modify loans following a settlement.
![[Barack Obama]](http://s.wsj.net/public/resources/images/MI-AT507B_BAILH_A_20081116220814.jpg)
The bailout line keeps getting longer. First came the banks, then insurers and even card companies such as American Express. Now car makers hope for a turn. Where should it end?
Turmoil in the financial markets is buffeting some of the U.S. Federal Home Loan Banks, a prime source of funding for American banks.
![[hypo real estate]](http://s.wsj.net/public/resources/images/OB-CQ964_HypoRe_A_20081112040640.jpg)
Hypo Real Estate reported a larger-than-expected loss in the third-quarter and said its outlook for the remainder of the year and beyond looked grim.
—Columnist June Fletcher on home builders“Don't just consider the builder's financial staying power -- think about your own. If home prices fall while the project is being built out, are you prepared to hold on until the market recovers? ”
![[mouse house]](http://s.wsj.net/public/resources/images/OB-CS181_HT_112_A_20081121145819.jpg)
In default and underwater on 12 properties, a reader wonders if selling at a loss is any better than just walking away.
![[Private Properties]](http://s.wsj.net/public/resources/images/OB-CQ178_PrivPr_A_20081106144517.jpg)
Actor Kelsey Grammer has listed two houses in Los Angeles, Greg Norman's ex-wife is buying a Hamptons house, and more.
![[Relative Values: Outsize Kitchens]](http://s.wsj.net/public/resources/images/OB-CR277_rv5_A_20081113174209.jpg)
With the holidays approaching, these houses are equipped to nourish lots of hungry guests.
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AMB will suspend its dividend for the current quarter and cut it by nearly half for 2009.
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![[mouse house]](http://s.wsj.net/public/resources/images/OB-CS181_HT_112_A_20081121145819.jpg)
In default and underwater on 12 properties, a reader wonders if selling at a loss is any better than just walking away.
![[Relative Values: Off-Campus 'Crash Pads']](http://s.wsj.net/public/resources/images/OB-CS018_rvSeat_A_20081120123954.jpg)
As finals near, homes for lucky college students or helicopter parents.
![[A sold sign is displayed in the yard of a house in Clarksville, Tenn., in October.]](http://s.wsj.net/public/resources/images/OB-CS083_numguy_A_20081120182022.jpg)
The one point of widespread agreement in the real-estate industry: there is no single accurate index of home prices.
![[Private Properties]](http://s.wsj.net/public/resources/images/WK-AN716_privpr_A_20081119120919.jpg)
Michael Vick has cut the price of his luxury Atlanta home to $4.1 million, from $4.5 million, after a year on the market.
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