Thursday, February 9, 2012

US foreclosures go sky-high: Iconic skyscraper in Georgia goes under the hammer for a lark as slumping economy continues to strangle property market

The Bank of America Plaza skyscraper in the state of Georgia, the tallest building in the southern US, is just another lamb to the slaughter after it was auctioned off for about half the amount it was worth five years ago.

Once the symbol of the area's booming commercial real-estate market, the tower now represents its widespread failure.

After the housing bubble burst, millions of homes have been foreclosed in the country. Read More