Roland Li

The West and the Middle East have long had a strained political relationship. But when it comes to architecture, a more fruitful partnership has emerged.

New York's condo market officially has a new champion. The record-breaking $88 million sale of a penthouse of 15 Central Park West appeared in city records Thursday, setting a new bar for the city's luxury market.

There were signs of improvement in U.S. housing data released in February, but warmer weather could have been as much of a factor as strengthening market fundamentals, according to industry experts.

Construction spending fell 0.1 percent in January compared to the previous month, the first drop since July, as the commercial and government sectors contracted, the U.S. Commerce Department said Thursday.

U.S. 30-year fixed rate mortgage rates fell to 3.90 percent in the week ending March 1, down from 3.95 percent in the prior week, according to Freddie Mac.

Like scorned lovers, Bank of America (NYSE:BAC) and Fannie Mae, the government-controlled mortgage giant, are having a very public falling out.

The Dow Jones Industrial Average crossed 13,000 at Tuesday's market close, while the S&P 500 rose above 1,370, but a bullish psychological impact could actually drag down the market in days to come.

The U.S. economy grew at a 3 percent annual rate in the fourth quarter, faster than originally estimated on unexpectedly strong business restocking, the Commerce Department said Wednesday.

A star-studded quartet of architecture critics discussed their craft on Monday night at the AIANY’s Center for Architecture in Manhattan, arguing for the vitality of buildings in modern life and the impact of criticism in a changing world.

U.S. home prices hit their lowest level since subprime mortgages began imploding in mid-2006, with 20 metro regions falling 3.9 percent in December compared to the prior year, according S&P/Case-Shiller Home Price Index data released Tuesday.

Even the world's most revered investor makes mistakes. Warren Buffett admitted he was dead wrong when he predicted a housing recovery last year in his annual letter to shareholders of Berkshire Hathaway, released over the weekend.

Wang Shu was selected to receive the 2012 Pritzker Prize, becoming the first Chinese to win architecture's highest honor, the Hyatt Foundation, sponsor of the prize, announced Monday.

Pending sales of U.S. homes rose by two percent in January from the previous month, according to the National Association of Realtors, beating expectations.

The S&P/Case-Shiller Housing Index is expected to show further price erosion throughout the country when figures are released on Feb. 28, according to analysts and housing experts.

January sales of new single-family homes in the U.S. declined 0.9 percent to a seasonally adjusted annual rate of 321,000, but December sales were revised upward, suggesting a nascent housing market recovery.

Ford Motor Co. (NYSE:F) opened its fourth automobile assembly plant Friday in China, as it seeks to expand its presence in the country.

Manhattan's venerable Plaza Hotel, site of a $48 million sale in 2011, has seen two more big deals to start off 2012. One of the building's penthouses, #PH2009, has been sold, according to StreetEasy. The deal hasn't closed yet, but the last asking price was $33.5 million.

Singer Lana Del Rey's Video Games has spawned a tribute from the Mushroom Kingdom.

Copper prices are expected to remain high in 2012 as China's economic growth boosts the metal's performance, according to Intierra Resource Intelligence,, a research firm.

U.S. 30-year fixed-rate mortgage rates rose to 3.95 percent in the week ending Feb. 23 from a record low of 3.87 in the previous week, Freddie Mac said.

The Federal Housing Finance Administration (FHFA), overseer of Fannie Mae and Freddie Mac, detailed a plan on Tuesday for the companies' uncertain futures, grappling with the challenges of political hostility, reluctant private investors and a fragile housing market.

T-Mobile USA Inc. asked regulators in a filing on Tuesday to block Verizon Wireless (NYSE:VZW)'s bid to buy airwaves from cable companies, arguing that the move would pose a clear threat to competition.

Actor Brad Pitt may soon have a new role: real estate developer. Croatian paper Jutarnji List reported that Pitt has partnered with businessman Danko Koncar and actor Rade Serbedzija to build a luxury waterfront resort in the Brijuni Islands in the Adriatic Sea.

Sales of existing U.S. homes rose 4.3 percent to 4.57 million in January, up from a revised 4.38 million in December, according to the National Assocation of Realtors, marking further improvement in the housing market as interest rates remained low and the job market saw gains.

Jeremy Lin, the rising New York Knicks star, will rent a condo at the W Downtown Hotel & Residences in Lower Manhattan in addition to his new apartment at Trump Tower in White Plains, N.Y.

A condo in the shimmering twin towers at 25 Columbus Circle in Manhattan has sold for $19.4 million, according to city records.

Real estate mogul Sam Zell's Equity Residential (NYSE:EQR) has raised its minimum bid for a 26.5 percent stake in the long-running battle for control of Archstone, owner of more than 70,000 U.S. apartment units. Earlier this week, the minimum bid was raised to $1.48 billion from $1.32 billion by Bank of America Corp. and Barclays Plc, which own the minority stake in the company. The banks also extended the deadline for Equity's option to buy the stake to April 19 from Feb. 19.

Howard Lutnick's BGC Partners Inc. (NASDAQ: BGCP) has agreed to buy the commercial real estate brokerage Grubb & Ellis Company (PINK:GRBE), which will file for Chapter 11 bankruptcy protection in the wake of declining revenue from the commercial real estate bust.

Stocks of gold and silver miners shot up on Tuesday as the price of the metals rose.