For Richer or Poorer -- The Year in Money
Dec. 28, 2006 — -- The American economic landscape shifted drastically this year.
The Dow Jones industrial average broke 12,000; gas prices hovered above $3 before dropping again; and the housing boom finally went bust.
"Nightline" takes another look at these stories and more in "The Year in Money."
Watch "Nightline" tonight at 11:35.
We start by looking back at three huge moneymakers who made their mark in the overlap between real estate and the Internet.
One of the Web's best secrets is not a secret anymore! Started as a simple online community, Craigslist.org is now considered one of the Top 10 Web sites in the world.
Many of us know and use this Web site -- you can search for apartments, sell furniture, or perhaps even find true love -- but not many know that there is an actual "Craig" behind the list.
We introduce you to the former IBM employee, a self-professed nerd who started the multimillion-dollar site.
We also take you to Costa Rica to the home of online gaming mogul Calvin Ayre, whose Web site, Bodog.com, now boasts billions of dollars in wagers, while avoiding U.S. gambling laws by operating through other countries.
And then on to real estate mogul Michael Shvo, who came to New York with $3,000 in his pocket and turned himself into "the real estate assassin."
Shvo has found a new niche in the Big Apple by selling apartments that are truly designer, both inside and out. That's right -- Giorgio Armani doesn't just do suits anymore, he does bathrooms, too! His properties are being bought by the world's wealthy and elite.
Some, however, were not as fortunate in 2006. "Nightline" examined some of the biggest housing scams of the year, talking to the people who were sold bogus investment schemes and a dream -- and were left with nothing.
