It's Friday desk clearing time for this blogger. "Harry Macklowe’s $2 billion-plus condo conversion of the former Irving Bank tower at One Wall Street has been a retail gift to Fidi — but its mostly unsold apartments look like a lump of coal for Macklowe. The snail’s-pace sales compelled one irreverent FiDi market-watcher to snark, 'They aren’t moving like tube socks at a street fair.' Early sales were so sluggish that Macklowe needed a $300 million 'inventory' loan from Deutsche Bank last year to cover the unsold apartments. Jonathan Miller, CEO of appraisal and research firm Miller Samuel, told The Post this week: 'While the area is a prime office-to-residential opportunity, the limited amount of sales above the $2 million threshold and the large discounts from ask seen in many sales suggest pricing is disconnected from what the market can absorb.'"

"Insurance continues to be top of mind for many Floridians, especially after a very active and destructive hurricane season. Gregory Buck, president of National Risk Experts, said many insurance companies had not allocated resources for those areas and had to make a shift. 'The problem is going forward we're seeing that there is a minimum of at least 14%, 15% that Citizens is saying that they're going to go up in 25%,' Buck said. He said many homeowners will also now have to buy flood insurance on top of that. 'So, therefore, the average homeowner's policy in Palm Beach County is about $13,000 and change. So that is a really hefty number. I mean, for many people, that's the size of a mortgage or more,' Buck said."

"A recent study revealed that rental rates in the Killeen-Temple area are more than $400 below the national average. This surprising statistic comes despite a surge in rental availability, presenting a unique scenario for the Central Texas housing market. Monica Sage, a 20-year veteran Central Texas realtor and owner and broker of Solvy Realty Group said that there are currently 465 available rentals listed on area MLS sites between Bell County and Copperas Cove, a stark contrast to the handful she's typically seen in the past. 'With it being so competitive, some of the landlords are reducing their prices, so they'll lease their houses first,' Sage said. 'It's not good for landlords right now. Going down on the rent and getting something coming in each month is better than nothing.'"

"Supplies of Viagra and visits to massage parlors for sexual favors were part of Monday’s startling testimony from Danny Solis, the former Chicago alderman grabbing center stage on his second day of testimony in the corruption trial of former Speaker of the House Michael Madigan. Solis also testified about his tangled financial affairs, the foreclosure on his home after his wife discovered he was having an affair and the gifts and campaign donations the FBI mole admitted to pocketing from developers and others trying to bribe him. Joined by co-defendant Michael McCain, Madigan watched on as Solis answered questions from a federal prosecutor."

"'Did you pay Mr. (Roberto) Caldero for the Viagra?' prosecutors asked Solis about Caldero, who a judge later sentenced to three years in prison for attempting to bribe Solis while he wore an FBI wire. 'No. I didn’t pay for the Viagra,' Solis testified, adding that he also did not pay for sexual encounters all allegedly arranged by Caldero. 'Why was it that,' assistant US attorney Diane MacArthur asked Solis, 'Mr. Caldero was willing to do these things for you? Whether it was the massages? Or the Viagra?' 'He wanted to influence me in his requests, too,' Solis answered. Prosecutors say requests for favors extended to Chicago’s Chinatown. Madigan allegedly met with Chinese developers looking to build in Solis’ ward."

"Real estate and construction dominate the list of top corruption concerns in B.C., according to a new poll. 65 per cent of British Columbians believe the real estate industry is vulnerable to corruption, while 43 per cent see the construction sector as vulnerable to corruption. These percentages were markedly higher in B.C. compared with other provinces, although the two industries remain significant concerns nationally as well. 'Examples in the construction industry centre around collusion and bribery, wherein municipal bids can be manipulated for certain firms, or seemingly competitive processes can be corrupted,' said the report from the Angus Reid Institute. 'In real estate, tens of billions of dollars are thought to be laundered every year. Both of these aforementioned industries are seen as susceptible to corruption by at least half in Canada.'"

"'Most Canadians perceive corruption is widespread in their country, with half the public believing it’s a significant cause of higher prices for shelter, groceries and other necessities. 'Canadians believe the corruption they see as common around them is also having an impact on this rising cost of living,' said the report. 'Half (50 per cent) believe illegal activities play ‘a big role’ in the rising costs of housing and food in their community, while one-third (35 per cent) believe it plays a role but a minor one.' Overwhelming percentages of respondents believe tax evasion (91 per cent), business corruption (90 per cent), political corruption (86 per cent) and money laundering (81 per cent) are 'common' or 'extremely common' in their province."

"Residents on an estate which has been flooded twice this year say their insurance premiums have 'quadrupled' and they are no longer covered for flooding. In October, 15 homes on Bates Avenue in Blyth, Northumberland, were hit for the second time in six months, in what residents have called 'a living nightmare.' Nick Tait, 24, said: 'We had insurance for the first claim in April but now no one will touch us.' Resident Kerry Forster said the family would not be back in their home in time for Christmas. 'The insurance is the main problem,' she said. 'We paid £140 last year and now it's nearly £900, which doesn't include flood protection. We'll find the money somewhere, but we're not protected against the biggest risk to our home.' Some residents have questioned whether houses should have been built on the site if it was at risk of flooding."

"The mismatch between property values and income levels, along with shifting generational trends, are among six key factors contributing to the surplus of unsold homes priced between RM300,000 and RM500,000 in the country. Other factors include high living costs, non-strategic locations, market oversupply and concerns about interest rates and bank lending policies. Property investment expert Dr Azizul Azli Ahmad explained that the trend of unsold homes is not a new issue, as it has persisted for several years."

"'I see the primary factor being the mismatch between price and income. For a home priced at RM300,000, the monthly repayment is approximately RM1,500, while for RM500,000, it is around RM2,500. 'This means that up to 30 per cent of their income goes toward housing costs, which is very burdensome. Ultimately, this has led to a surplus of homes in the market,' he told Sinar. According to Azizul, the second factor stemmed from high living costs, which prompted many to opt for renting over purchasing homes. 'Third, the non-strategic location. Developers observed significant demand for such homes in the past few years, leading to properties being built in various locations. Fourth, I consider market oversupply as a major factor. Many houses are built within the same price range. For example, when the government set the price for PR1MA homes at RM300,000, developers rushed to build homes within that range. The resulting competition led to an oversupply,' he explained."

"The prolonged slump in South Korea’s regional real estate markets has triggered a wave of bankruptcies among small and medium-sized construction firms. Even major mid-sized builders are reporting consecutive operating losses for the third quarter. The accumulation of unsold post-construction housing units compounds the challenges. As of the end of September, 83.3% (14,375 units) of unsold post-construction homes were concentrated in regional areas. 'Due to the real estate market polarization, unsold homes in regional areas will continue to pile up, and recovering the additional construction costs will remain a challenge,' said an official from a mid-sized construction firm. 'Performance will continue to be sluggish through next year.'"

"Rookie real estate agents expecting to strike it rich overnight were hit with a reality check by industry guru Tom Panos, who warned the first three years would make or break a career in the cut-throat industry. 'The first three years are going to be tough. It’s going to suck,' said Panos, an auctioneer on The Block and renowned real estate coach. Speaking to more than 100 local agents at a workshop hosted by the Gold Coast Bulletin, Panos said 60-plus hour working weeks were the norm for new agents, while establishing a strong personal brand was the key to success."

"Along with sharing a roadmap for newer agents, Panos revealed a bold strategy for sellers struggling to move properties in the current market. 'If you were to adjust the price of every one of those 35 listings by 10 per cent, you would make sales,' he said."