For those in the real estate industry it has been a rough time. Teresa Giudice’s husbands construction company is in Chapter 7 bankruptcy and the family is having to liquidate their household to meet the creditors demands of 10.85 million dollars in debt.
For many of us in the real estate world, this is not an uncommon occurance as companies that held out in hopes of surviving the downturn are now going under on a regular basis.
This one is just going to be in the spotight of the Bravo network’s cameras.
“Real Housewives of New Jersey” star Teresa Giudice and her husband, Joe, are set to sell the contents of their 16-room, 10,000-square-foot Towaco mansion in a bankruptcy auction to take place at their home Aug. 22, reported Gawker.
Among the items up for bid will be a grand piano, two LCD TVs, a decorative urn, an antique pool table, a suit of armor, four chandeliers, a jet boat, a snowplow, framed paintings and numerous pieces of furniture, according to A.J. Willner Auctions, the company facilitating the auction. via The NY Daily News
Tom,
What to say? Nice post or a true post… situation is bad everywhere and with Europe market going down… it has become hell. Real estate market will take more time for now to show some improvement. Though, good thing is market has touched its lowest and will not go further down. For situation to improve in general market it may take some time… but for real estate market.. it needs atleast year or two to return back to where it was 2 year back.
Seems to be hitting all the housewives show members…all of the OC housewives seemed to be hit by it, since the majority are in real estate. If anyone is looking for a home in New Jersey or anywhere in the US I recommend trying http://homes.trovit.com
every one is affected by recession. and i guess teresa is one of the,. but it is not the end of the world. as long they are happy and the perseverance to survive is strong, together with great motivation, it will come back.