Consorcio ARA SAB Chairman German Ahumada Russek says the 2009 recession caused revenue at the Mexican homebuilder to stall. As the economy improves this year, he expects total sales will increase 10%. “There’s practically no inventory in Mexico City,” said Russek, chairman of the country’s third-largest homebuilder by market value. “People are definitely a lot more optimistic now that employment is recovering.”

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Former Fannie Mae employee gets 6 years in prison for making $1 million on shady foreclosure sales

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3d rendering of a row of luxury townhouses along a street

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