BBC World Service - Documentaries - Islands of security: "Gated communities are a form of living spreading widely in all continents, especially where the difference between rich and poor is greatest, but in South Africa with its history of apartheid and exclusion on racial grounds, the subject of privatisation of space and keeping people out is a particularly sensitive one."
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Saturday, July 11, 2009
Friday, July 10, 2009
Brown Manure, Not Green Shoots - Forbes.com
Brown Manure, Not Green Shoots - Forbes.com: "Essentially, the results today suggested that there are not as many green shoots. These green shoots, as I've argued, are mostly yellow weeds that may even turn into brown manure if a double-dip, W-shaped recession occurs in 2010-11...Home prices have already fallen from their peak by about 30%. Based on my analysis, they are going to fall by at least 40% from their peak, and more likely 45%, before they bottom out. They are still falling at an annualized rate of over 18%. That fall of at least 40%-45% percent of home prices from their peak is going to imply that about half of all households that have a mortgage--about 25 million of the 51 million that have mortgages--are going to be underwater with negative equity and will have a significant incentive to walk away from their homes."
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Nouriel Roubini, aka "Dr. Doom," weighs in with a hefty dose of pessimism about the latest economic statistics.
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Nouriel Roubini, aka "Dr. Doom," weighs in with a hefty dose of pessimism about the latest economic statistics.
Thursday, July 09, 2009
Mysterious tremors detected on San Andreas Fault
Mysterious tremors detected on San Andreas Fault: "LOS ANGELES (AP) - Scientists have detected a spike in underground rumblings on a section of California's San Andreas Fault that produced a magnitude-7.8 earthquake in 1857.
What these mysterious vibrations say about future earthquakes is far from certain. But some think the deep tremors suggest underground stress may be building up faster than expected and may indicate an increased risk of a major temblor."
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Oh, sure. That's just great. Now on top of everything else LA is baloney on a cold roll.
What these mysterious vibrations say about future earthquakes is far from certain. But some think the deep tremors suggest underground stress may be building up faster than expected and may indicate an increased risk of a major temblor."
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Oh, sure. That's just great. Now on top of everything else LA is baloney on a cold roll.
HOA Academy registration begins
HOA Academy registration begins: "The homeowners association academy is aimed at those serving as or aspiring to be HOA board members and employees of management companies."
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Fred Pilot sent this, with a note to check the comments--George Staropoli got in a kidney shot.
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Fred Pilot sent this, with a note to check the comments--George Staropoli got in a kidney shot.
The Rental Market Stinks Too - The Atlantic Business Channel
The Rental Market Stinks Too - The Atlantic Business Channel: "The vacancy rate for U.S. apartments hit a 22-year high in the second quarter as rising unemployment reduced demand during what is usually the peak leasing season."
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What next? Hamster and gerbil cage vacancy rates at an all-time high?
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What next? Hamster and gerbil cage vacancy rates at an all-time high?
6,000 Criminals Could Be Released From Stateville Prison In Joliet, Illinois By Governor Pat Quinn - cbs2chicago.com
6,000 Criminals Could Be Released From Stateville Prison In Joliet, Illinois By Governor Pat Quinn - cbs2chicago.com: "CHICAGO (CBS) ― Up to 10,000 convicted criminals could soon be released early from prisons across Illinois. It's all because of the state's budget mess. Gov. Pat Quinn says cutting those prisoners loose could save more than $100 million. But at what cost to you?"
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Is that a rhetorical question?
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Is that a rhetorical question?
USDA to oversee school snack food: Senate ag chair | Health | Reuters
USDA to oversee school snack food: Senate ag chair | Health | Reuters: "WASHINGTON (Reuters) - The U.S. Agriculture Department would be given the power to regulate all food sold in schools -- including vending machine snacks -- when Congress renews child nutrition programs, the chairman of the Senate Agriculture Committee said on Tuesday."
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All food sold in all schools. In the entire USA. Regulated by the federal government.
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All food sold in all schools. In the entire USA. Regulated by the federal government.
Michael Gerson - Obama's Health Reform Ship Flounders - washingtonpost.com
Michael Gerson - Obama's Health Reform Ship Flounders - washingtonpost.com: "Around midnight on April 15, 1912, there were a few minutes when Capt. Edward Smith of the Titanic realized his ship was going down -- six watertight compartments breached, less than two hours to float -- yet his passengers slept in happy ignorance. A historical fate hardened while most of the participants dreamed on.
The jobs report last week opened a long gash beneath the waterline of President Obama's legislative agenda. Few realize it, but a scramble for lifeboats is about to begin."
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This is one of the best leads to a story that I have ever read. I don't know if he is right, but it is a compelling metaphor. How do you top it? Maybe the Hindenburg.
The jobs report last week opened a long gash beneath the waterline of President Obama's legislative agenda. Few realize it, but a scramble for lifeboats is about to begin."
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This is one of the best leads to a story that I have ever read. I don't know if he is right, but it is a compelling metaphor. How do you top it? Maybe the Hindenburg.
The Association Movie
The Association Movie See below--this is Andrew Wahlquist's web site about "The Association."
Danny Pebbles Guide to Association Living
Danny Pebbles Guide to Association Living
Andrew Wahlquist is a Hollywood producer who has a screenplay called "The Association" that he is trying to raise money to produce. I have read it, and it is terrific. But in the meantime, he passed along this link to something that is well worth watching.
Andrew Wahlquist is a Hollywood producer who has a screenplay called "The Association" that he is trying to raise money to produce. I have read it, and it is terrific. But in the meantime, he passed along this link to something that is well worth watching.
Global warming marches on
Chicago has its coolest July 8 in 118 years -- chicagotribune.com: "For the 12th time this meteorological summer (since June 1), daytime highs failed to reach 70 degrees Wednesday. Only one other year in the past half century has hosted so many sub-70-degree days up to this point in a summer season -- 1969, when 14 such days occurred.
Wednesday's paltry 65-degree high at O'Hare International Airport (an early-May-level temperature and a reading 18 degrees below normal) was also the city's coolest July 8 high in 118 years -- since a 61-degree high on the date in 1891."
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Relatively speaking, we are freezing our butts off here.
Wednesday's paltry 65-degree high at O'Hare International Airport (an early-May-level temperature and a reading 18 degrees below normal) was also the city's coolest July 8 high in 118 years -- since a 61-degree high on the date in 1891."
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Relatively speaking, we are freezing our butts off here.
Wednesday, July 08, 2009
10 Things Your Real Estate Broker Won't Say at SmartMoney.com
10 Things Your Real Estate Broker Won't Say at SmartMoney.com
There is a #11, too: "This home is in an HOA."
There is a #11, too: "This home is in an HOA."
The Big Public Pension Squeeze
The Big Public Pension Squeeze: "The cost of public sector pensions is set to soar in coming years because the recent meltdown in the financial markets has worsened the health of systems that were already badly underfunded. Municipal and state governments across the country are struggling with massive budget shortfalls, leaving them in no position to fill the pension gap. As a result, public workers look likely to bear the burden through cutbacks in their salaries and benefits and increases in their pension contributions."
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True, but why did they have to interview Gray Davis?
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True, but why did they have to interview Gray Davis?
Offering a tiny apology | Change of Subject
Offering a tiny apology | Change of Subject: "The question looking forward is what excuse, what explanation, what apology the Democratic Party can offer voters for making such a mess of things yet again, even with the ostensibly rogue ex-governor out of the picture. Democrats asked the voters for power in Illinois. And the majority of voters -- including me, I should say -- said OK. The result reduced legislative Republicans to decorative-plant status. But with this power came full and admittedly awesome responsibility -- to address the impact of the nationwide economic crisis and balance the state budget in a time of declining revenues. This responsibility didn't exactly creep up on the Democrats. We all saw it coming.
What did the Democratic leadership do to address this admittedly knotty problem? They bickered. They hemmed. They hawed. They quailed at making decisions and taking ownership of decisions that will inevitably prove unpopular among some segments of the population. Eventually, they ran out the clock at the end of last month and forced an overtime session."
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This is an amazing confession by the Chicago Tribune's very liberal and ordinarily very partisan columnist, Eric Zorn. He lays the blame for Illinois' political-economic logjam squarely at the feet of the Illinois Democratic Party and particularly their chairman, House speaker Michael Madigan.
What did the Democratic leadership do to address this admittedly knotty problem? They bickered. They hemmed. They hawed. They quailed at making decisions and taking ownership of decisions that will inevitably prove unpopular among some segments of the population. Eventually, they ran out the clock at the end of last month and forced an overtime session."
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This is an amazing confession by the Chicago Tribune's very liberal and ordinarily very partisan columnist, Eric Zorn. He lays the blame for Illinois' political-economic logjam squarely at the feet of the Illinois Democratic Party and particularly their chairman, House speaker Michael Madigan.
President Obama debates himself on another stimulus
Bloomberg.com: Democrats split on stimulus as job losses mount, deficit soars: "President Barack Obama underscored the dilemma by addressing both sides of the argument. In an interview with ABC News yesterday, he said unemployment approaching 10 percent is something “we wrestle with constantly.” He added that spending more borrowed money is “potentially counterproductive.”"
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Stay tuned for the outcome of this debate.
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Stay tuned for the outcome of this debate.
OUC starts shutting down water, power in Veranda Park - OrlandoSentinel.com
OUC starts shutting down water, power in Veranda Park - OrlandoSentinel.com: "At noon today, the Orlando Utilities Commission turned off the water and power for the large fountain at the entrance to the Veranda Park town center in MetroWest Orlando as well as for the outdoor irrigation systems for the 30-acre property off of South Hiawassee Road.
This is the first step in a staggered shutdown of water and power in Veranda Park due to months of unpaid bills for seven Veranda accounts owned or controlled by developer Kevin Azzouz.
The unpaid accounts total more than $378,000 for the struggling project that was to become a second downtown Orlando."
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Thanks to Beth Young for this link. What a horrible situation.
This is the first step in a staggered shutdown of water and power in Veranda Park due to months of unpaid bills for seven Veranda accounts owned or controlled by developer Kevin Azzouz.
The unpaid accounts total more than $378,000 for the struggling project that was to become a second downtown Orlando."
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Thanks to Beth Young for this link. What a horrible situation.
Invasion of the condo squatters
Living with Rules: Community associations confront squatters - South Florida Sun-Sentinel.com: "Has a squatter moved into your community?
That's the case for The Circle Villa Condominium Association in Lauderhill. 'We have at least several unit-owner squatters and one renter squatter,' said Dorine Neal, president of the 96-unit condo association. 'The numbers are growing in this economy.'
As if cash-strapped community associations faced with foreclosures, delinquencies and non-paying owners didn't have enough to deal with, increasingly some are stuck with squatters."
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Foreclosed and abandoned units are being put to use, it seems.
That's the case for The Circle Villa Condominium Association in Lauderhill. 'We have at least several unit-owner squatters and one renter squatter,' said Dorine Neal, president of the 96-unit condo association. 'The numbers are growing in this economy.'
As if cash-strapped community associations faced with foreclosures, delinquencies and non-paying owners didn't have enough to deal with, increasingly some are stuck with squatters."
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Foreclosed and abandoned units are being put to use, it seems.
Residents call for new board amid accusations
Residents call for new board amid accusations: "Residents of the North Sherwood Forest Homeowners Association say some of its board and management have used money given to them for the nearby Intercounty Connector to hire an attorney to enforce alleged property violations. Some residents argue the association is enforcing measures that haven't been addressed due to community apathy.
Last year, the State Highway Administration gave about $520,000 to the HOA after the HOA sold some of its common land to the ICC. Since then, frustrated residents have voiced their concerns about the HOA's lack of regular, open meetings and say the HOA board has spent money without the approval of the entire board. The HOA is overseen by Greenbelt-based Williams Community Management."
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Last year, the State Highway Administration gave about $520,000 to the HOA after the HOA sold some of its common land to the ICC. Since then, frustrated residents have voiced their concerns about the HOA's lack of regular, open meetings and say the HOA board has spent money without the approval of the entire board. The HOA is overseen by Greenbelt-based Williams Community Management."
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Gallup Daily: State of the Nation
Gallup Daily: State of the Nation
This chart shows that dissatisfaction with the state of affairs in the US dropped from around 80% to 60% in the first four months of the Obama administration. People were swept up in the overall sense that "hope and change" were coming. But look what has happened since May. The level of dissatisfaction has gone back up steadily, and is now at 68%. This is not surprising, because unemployment has continued to climb, gas prices have gone back up, the housing market is still in the toilet, state and local budgets are horrifying, and people are worried about government debt and eventual tax increases. In other words, the hopey-changey laughing gas is blowing away in the wind of the recession.
The Democratic Party runs the national government, so it is time for them to show what they have to offer.
This chart shows that dissatisfaction with the state of affairs in the US dropped from around 80% to 60% in the first four months of the Obama administration. People were swept up in the overall sense that "hope and change" were coming. But look what has happened since May. The level of dissatisfaction has gone back up steadily, and is now at 68%. This is not surprising, because unemployment has continued to climb, gas prices have gone back up, the housing market is still in the toilet, state and local budgets are horrifying, and people are worried about government debt and eventual tax increases. In other words, the hopey-changey laughing gas is blowing away in the wind of the recession.
The Democratic Party runs the national government, so it is time for them to show what they have to offer.
No job, no money for Churchill - The Denver Post
No job, no money for Churchill - The Denver Post: "A judge has ruled that the University of Colorado doesn't have to give controversial former professor Ward Churchill his job back, even though a jury found he was improperly fired.
Churchill, who taught ethnic studies at CU's Boulder campus, lost his teaching position after an investigation found he had plagiarized and falsified scholarly work for years."
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While I value academic freedom, it seems to me that Churchill abused his tenured status in every way. He ends up with nothing to show for winning that lawsuit. One dollar from the jury, and nothing from the judge.
Churchill, who taught ethnic studies at CU's Boulder campus, lost his teaching position after an investigation found he had plagiarized and falsified scholarly work for years."
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While I value academic freedom, it seems to me that Churchill abused his tenured status in every way. He ends up with nothing to show for winning that lawsuit. One dollar from the jury, and nothing from the judge.
SCOUTING NY - www.scoutingny.com » The Last Phone Booth In New York City
SCOUTING NY - www.scoutingny.com » The Last Phone Booth In New York City: "There are only four phone booths left in Manhattan - and they’re all on West End Avenue. That’s it: four."
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Where will Superman change clothes now?
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Where will Superman change clothes now?
TheHill.com - Republican report puts blame for housing on Fannie, Freddie
TheHill.com - Republican report puts blame for housing on Fannie, Freddie: "“The housing bubble that burst in 2007 and led to a financial crisis can be traced back to the federal government intervention in the U.S. housing market intended to help provide home ownership opportunities for more Americans,” declares the first sentence of the GOP Oversight and Government Reform report.
The report tries to center debate on government involvement, rather than Wall Street."
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It seems to me that it is hard to separate the respective roles of public policy and private profit-taking in creating the collapse of the housing market. However, there is nothing wrong with the GOP trying to remind people that bad policies played a major role, because since the election all we have been hearing from DC is that corporate greed is the root of all our problems. We have a political economy, not a free market economy.
The report tries to center debate on government involvement, rather than Wall Street."
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It seems to me that it is hard to separate the respective roles of public policy and private profit-taking in creating the collapse of the housing market. However, there is nothing wrong with the GOP trying to remind people that bad policies played a major role, because since the election all we have been hearing from DC is that corporate greed is the root of all our problems. We have a political economy, not a free market economy.
Althouse: Look how silly the Russians made Obama look...
Althouse: Look how silly the Russians made Obama look...
Obama needs to invite the Rooskies to DC so he can get even. Challenge Medvedev to a game of one-on-one basketball, for example.
Obama needs to invite the Rooskies to DC so he can get even. Challenge Medvedev to a game of one-on-one basketball, for example.
Tuesday, July 07, 2009
U.S. mortgage fraud 'rampant' and growing-FBI | Markets | Bonds News | Reuters
U.S. mortgage fraud 'rampant' and growing-FBI | Markets | Bonds News | Reuters: "SAN FRANCISCO, July 7 (Reuters) - U.S. mortgage fraud reports jumped 36 percent last year as desperate homeowners and industry professionals tried to maintain their standard of living from the boom years, the FBI said on Tuesday.
Suspicious activity reports rose to 63,713 in fiscal year 2008, which ended last September, from 46,717 the year before. California and Florida, centers of the housing bust, had the highest numbers of suspicious reports as foreclosures jumped, the stock market dropped and credit dried up."
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If middle class home owners are ever going to organize themselves to influence public policy, this should be the time. If not, there will not be enough meat on their bones to bait a fish hook.
Suspicious activity reports rose to 63,713 in fiscal year 2008, which ended last September, from 46,717 the year before. California and Florida, centers of the housing bust, had the highest numbers of suspicious reports as foreclosures jumped, the stock market dropped and credit dried up."
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If middle class home owners are ever going to organize themselves to influence public policy, this should be the time. If not, there will not be enough meat on their bones to bait a fish hook.
Don't make light of this situation
Strike a light! Do religious zealots get any barmier than this?: "AN Orthodox Jewish couple are suing their neighbours in a block of Bournemouth flats over motion sensors which automatically turn on the lights in the communal hallway."
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Thanks to Mystery Reader for this fascinating link. You see, they aren't supposed to use electricity from Friday night to Saturday night, but the lights are triggered automatically by sensors when they step out their door. Thus, they have to choose between violating their religious tenets and staying indoors.
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Thanks to Mystery Reader for this fascinating link. You see, they aren't supposed to use electricity from Friday night to Saturday night, but the lights are triggered automatically by sensors when they step out their door. Thus, they have to choose between violating their religious tenets and staying indoors.
Private communities present problems for Pa. | PoconoRecord.com
Private communities present problems for Pa. | PoconoRecord.com: "Some Pennsylvania legislators believe some new rules for private communities are needed. Local representatives receive frequent calls from homeowners in private communities, often complaining about association fees and limited services.
While private community homeowners pay state taxes, state grants are not available to residents. Private associations are not eligible to apply for most state grants.
Although Monroe County state Rep. Mario Scavello, R-176, introduced House Bill 1068 this year, which would provide grants and funding for dams that are privately owned. 'These private lakes, God forbid there is a breach, the communities around them are going to have problems,' Scavello said.)
Homeowners in private associations pay municipal property taxes, but no municipal dollars are spent within the gates of a private community.
Another bill introduced by Scavello would allow homeowners in communities to deduct 75 percent of their annual association fees from their state income tax return. This would help offset the 'double taxation' community homeowners say they face."
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Thanks to Cynthia Stephens for this link about some pretty dramatic proposals in PA.
While private community homeowners pay state taxes, state grants are not available to residents. Private associations are not eligible to apply for most state grants.
Although Monroe County state Rep. Mario Scavello, R-176, introduced House Bill 1068 this year, which would provide grants and funding for dams that are privately owned. 'These private lakes, God forbid there is a breach, the communities around them are going to have problems,' Scavello said.)
Homeowners in private associations pay municipal property taxes, but no municipal dollars are spent within the gates of a private community.
Another bill introduced by Scavello would allow homeowners in communities to deduct 75 percent of their annual association fees from their state income tax return. This would help offset the 'double taxation' community homeowners say they face."
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Thanks to Cynthia Stephens for this link about some pretty dramatic proposals in PA.
Property associations struggle as owners miss payments | Jacksonville.com
Property associations struggle as owners miss payments | Jacksonville.com: "With the economy in an extended slump and real estate along with it, there's myriad reasons why a Jacksonville homeowner or condominium owner might not be able to pay his or her property owner's association fees.
People who have always kept up with their bills suddenly find themselves choosing which bills to pay and which to let slip. Homeowners and condominium associations are under the gun, too. They are bound by a residential community's covenants to fulfill their obligations for amenities, maintenance and services in common areas and various other things, and their budgets are designed to raise only what they need."
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We are still on the upswing of this problem.
People who have always kept up with their bills suddenly find themselves choosing which bills to pay and which to let slip. Homeowners and condominium associations are under the gun, too. They are bound by a residential community's covenants to fulfill their obligations for amenities, maintenance and services in common areas and various other things, and their budgets are designed to raise only what they need."
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We are still on the upswing of this problem.
Florida law protects homeowners who put in less-thirsty yards - OrlandoSentinel.com
Florida law protects homeowners who put in less-thirsty yards - OrlandoSentinel.com: "When state Sen. Carey Baker proposed a law encouraging Florida homeowners to get rid of thirsty grass, he had Dorothy Bombera in mind. The Venice retiree has steadily ripped out her lawn, making room for daisies, perennial peanuts, palms and other drought-resistant plants.
But not all of her neighbors found the new scenery attractive, and her homeowners association threatened to fine Bombera if she didn't re-create the old, conventional yard.
Last week, Baker's legislation was signed into law by Gov. Charlie Crist, and Bombera is now off the hook.'They were up to a $480 fine,' Bombera said of the homeowners association. 'I think that passing this was the most wonderful thing.'"
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So common sense prevailed.
But not all of her neighbors found the new scenery attractive, and her homeowners association threatened to fine Bombera if she didn't re-create the old, conventional yard.
Last week, Baker's legislation was signed into law by Gov. Charlie Crist, and Bombera is now off the hook.'They were up to a $480 fine,' Bombera said of the homeowners association. 'I think that passing this was the most wonderful thing.'"
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So common sense prevailed.
Skid row murder-for-hire plot leaves two dead, LAPD says | L.A. Now | Los Angeles Times
Skid row murder-for-hire plot leaves two dead, LAPD says | L.A. Now | Los Angeles Times: "Chow said Lamont Ward, 40, of Inglewood used Flores to hire another man, Richard Luna, to carry out the murder....Ward was arrested July 1 in Inglewood. Police said he was arrested while working as a security guard in an upscale gated community."
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Perhaps somewhat more intensive screening of potential employees is in order.
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Perhaps somewhat more intensive screening of potential employees is in order.
islandpacket.com | Commission OKs plan to get emergency workers into gated communities quickly
islandpacket.com | Commission OKs plan to get emergency workers into gated communities quickly: "New development standards requiring gated communities to install devices that would give ambulances and other emergency vehicles a quick way to open their gates received unanimous approval Monday at a meeting of the Beaufort County Planning Commission.
Gated communities lacking the emergency openers would have to install one within 18 months at their own expense."
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Gated communities lacking the emergency openers would have to install one within 18 months at their own expense."
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Woman Attacked While Emptying Trash in Gated Community - KTLA
Woman Attacked While Emptying Trash in Gated Community - KTLA: "LADERA RANCH - Police are looking for 2 men who attacked and robbed a woman in broad daylight in a gated community in Orange County.
It happened around 10:30 Saturday morning in Covenant Hills."
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Well. That's not the way these places are supposed to operate.
It happened around 10:30 Saturday morning in Covenant Hills."
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Well. That's not the way these places are supposed to operate.
HOA Legi-Slate: New Action Without Meeting Requirements in Effect
HOA Legi-Slate: New Action Without Meeting Requirements in Effect: "On May 14, 2009, Governor Ritter signed into law House Bill 09-1248 (HB 1248) which amends the Revised Colorado Nonprofit Corporation Act (Nonprofit Corporation Act) and addresses in Section 20 the ability and procedures that boards of associations must follow when taking action outside of a board meeting."
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From a blog post by Molly Foley-Healy.
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From a blog post by Molly Foley-Healy.
Florida Land Use Law: 1stDCA Totally Screws Up the Analysis in a Bert Harris Case – [but Probably Reaches the Right Result]
Florida Land Use Law: 1stDCA Totally Screws Up the Analysis in a Bert Harris Case – [but Probably Reaches the Right Result]: "The case involves the City of Jacksonville abandoning a public street to a private homeowner’s association- a process that is not the same as vacating the street. When the street was abandoned, the private HOA refused to allow and adjoining landowner access to it. The result of the HOA’s refusal to permit access was that the landowner was unable to proceed with an 8 lot subdivision of the adjoining land."
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Blog post on an interesting situation.
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Blog post on an interesting situation.
The Hook News Blog » Blog Archive » Comer canned: Homeowners oust missing treasurer
The Hook News Blog » Blog Archive » Comer canned: Homeowners oust missing treasurer: "“The behind-the-scenes view of this is that he staged this thing and ran off,” says Tommy Stafford of Nelson County Life, the first local publication to notice the identity of the missing man. “They can’t be 100 percent sure,” says Stafford, who has conferred with several top law enforcement officers, “but things are certainly looking that way.”
Comer, whose day job is the presidency of Glenmore Country Club and who also represents the developer of the neighborhood of over 700 homes, reportedly went missing shortly after 9:30am Wednesday, July 1. That, according to a press release from the homeowners association, was less than an hour before a meeting with two association board members to discuss “incomplete data made available to the auditor.”"
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Hmmmmm. Let's not jump to any conclusions, but the circumstantial evidence is...interesting.
Comer, whose day job is the presidency of Glenmore Country Club and who also represents the developer of the neighborhood of over 700 homes, reportedly went missing shortly after 9:30am Wednesday, July 1. That, according to a press release from the homeowners association, was less than an hour before a meeting with two association board members to discuss “incomplete data made available to the auditor.”"
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Hmmmmm. Let's not jump to any conclusions, but the circumstantial evidence is...interesting.
Fight for HOA reform continues after bill fails | News 8 | WFAA.com
Fight for HOA reform continues after bill fails | News 8 | WFAA.com: "'The issue isn’t going away,” said Rep. Burt Solomons.
The Carrollton Republican introduced legislation in the last session aimed at reining in HOAs. The bill failed to come up for a vote in the Senate.
“We intend to continue fighting,” he said. “It’s gotten out of control and it’s very hard to rein them in.”... Lawmakers say there are 30,000 homeowners associations in Texas, which has only 5,000 towns.
“You have entities that have more power than any city council,” Scott said. “More power than any city government with no checks, no balances, no accountability, no transparency, no openness.” "
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This is mainly about foreclosure reform, as I understand it, and that is probably going to remain a huge issue in TX and elsewhere for the foreseeable future.
The Carrollton Republican introduced legislation in the last session aimed at reining in HOAs. The bill failed to come up for a vote in the Senate.
“We intend to continue fighting,” he said. “It’s gotten out of control and it’s very hard to rein them in.”... Lawmakers say there are 30,000 homeowners associations in Texas, which has only 5,000 towns.
“You have entities that have more power than any city council,” Scott said. “More power than any city government with no checks, no balances, no accountability, no transparency, no openness.” "
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This is mainly about foreclosure reform, as I understand it, and that is probably going to remain a huge issue in TX and elsewhere for the foreseeable future.
Delinquencies on home-equity loans hit record - Los Angeles Times
Delinquencies on home-equity loans hit record - Los Angeles Times: "Late payments on home-equity loans rose to a record in the first quarter as 18 straight months of job losses and a slumping economy left more borrowers unable to pay their debts, the American Bankers Association reported.
Delinquencies on home-equity loans climbed to 3.52 percent of all accounts from 3.03 percent in the fourth quarter, and late payments on home-equity lines of credit climbed to a record 1.89 percent, the group reported today. An index of eight types of loans rose for a fourth straight quarter, to 3.23 percent from 3.22 percent in October through December, the group said."
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If the employment situation doesn't reverse itself pretty soon, this recession will set all-time records.
Delinquencies on home-equity loans climbed to 3.52 percent of all accounts from 3.03 percent in the fourth quarter, and late payments on home-equity lines of credit climbed to a record 1.89 percent, the group reported today. An index of eight types of loans rose for a fourth straight quarter, to 3.23 percent from 3.22 percent in October through December, the group said."
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If the employment situation doesn't reverse itself pretty soon, this recession will set all-time records.
U.S. Home Prices to Fall Through 2011’s First Quarter, PMI Says - Bloomberg.com
U.S. Home Prices to Fall Through 2011’s First Quarter, PMI Says - Bloomberg.com: "Thirty of the 50 biggest metropolitan areas have at least a 75 percent chance of lower prices through March 31, 2011, Walnut Creek, California-based PMI said in a report today. The decline is likely to spread to “all regions of the nation” from California, Florida, Nevada and Arizona, the states most affected by the housing slump, PMI said.
“The housing market has been hit by a demand shock of high unemployment and a supply shock of distressed foreclosure sales,” LaVaughn Henry, senior economist at PMI, the fourth- largest U.S. mortgage insurer, said in an interview."
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Can anybody say with a straight face that things are getting better?
“The housing market has been hit by a demand shock of high unemployment and a supply shock of distressed foreclosure sales,” LaVaughn Henry, senior economist at PMI, the fourth- largest U.S. mortgage insurer, said in an interview."
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Can anybody say with a straight face that things are getting better?
Big Banks Don't Want California's IOUs - WSJ.com
Big Banks Don't Want California's IOUs - WSJ.com: "A group of the biggest U.S. banks said they would stop accepting California's IOUs on Friday, adding pressure on the state to close its $26.3 billion annual budget gap."
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California funny money becomes basically useless in three days. Apparently some credit unions will keep accepting it, but that won't last.
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California funny money becomes basically useless in three days. Apparently some credit unions will keep accepting it, but that won't last.
Monday, July 06, 2009
Legal Bills Swayed Palin, Official Says - NYTimes.com
Legal Bills Swayed Palin, Official Says - NYTimes.com: "Lt. Gov. Sean Parnell of Alaska said Sunday that Gov. Sarah Palin’s decision to resign was largely prompted by the personal legal costs of the ethics investigations against her."
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Think about that. Palin may have given up her political career, at least for the foreseeable future, because of the costs of legal defense. Now imagine that you are a homeowner in a CID. You have to pay your own lawyer. The association draws on the resources of all the owners. This imbalance in legal representation is one of the main sources of association power.
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Think about that. Palin may have given up her political career, at least for the foreseeable future, because of the costs of legal defense. Now imagine that you are a homeowner in a CID. You have to pay your own lawyer. The association draws on the resources of all the owners. This imbalance in legal representation is one of the main sources of association power.
California’s Nightmare Will Kill Obamanomics: Kevin Hassett - Bloomberg.com
California’s Nightmare Will Kill Obamanomics: Kevin Hassett - Bloomberg.com: "The California morass has Democrats in Washington trembling. The reason is simple. If Obama’s health-care plan passes, then we may well end up paying for it with federal slips of paper worth less than California’s. Obama has bet everything on passing health care this year. The publicity surrounding the California debt fiasco almost assures his resounding defeat."
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California is running on $3 billion worth of IOUs for the month of July alone.
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California is running on $3 billion worth of IOUs for the month of July alone.
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