Lagging condo sales could hurt housing market's recovery - cleveland.com

Lagging condo sales could hurt housing market's recovery - cleveland.com: "CLEVELAND, Ohio -- As the housing market tries to crawl back to health, lagging condominium sales could temper the recovery.

Sales of single-family homes have improved, but analysts say condos could continue to see slower sales and lower prices as developers struggle to fill empty buildings.

Even in Greater Cleveland, where the condo market is more stable than in many places, skittish banks are making it tougher to buy or build condos."
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Condos are always hit worst by recession, but in every previous recession, condos were a much smaller part of the market. A weak condo market has more impact on the economy now than ever before.

China schoolgirl aspires to be 'corrupt official':state media - Yahoo! News

China schoolgirl aspires to be 'corrupt official':state media - Yahoo! News: "'When I grow up I want to be an official,' said the girl, whose face was blurred to protect her identity.

'What kind of official?' the interviewer asked.

'A corrupt official because corrupt officials have a lot of things,' she replied."

50 things that are being killed by the internet - Telegraph

50 things that are being killed by the internet - Telegraph: "1) The art of polite disagreement
While the inane spats of YouTube commencers may not be representative, the internet has certainly sharpened the tone of debate. The most raucous sections of the blogworld seem incapable of accepting sincerely held differences of opinion; all opponents must have 'agendas'."
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Internet addiction center opens in US

Internet addiction center opens in US
"The center, called ReSTART, is somewhat ironically located near Redmond, headquarters of Microsoft and a world center of the computer industry. It opened in July and for $14,000 offers a 45-day program intended to help people wean themselves from pathological computer use, which can include obsessive use of video games, texting, Facebook, eBay, Twitter and any other time-killers brought courtesy of technology."
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I'll bet they have a killer web site.

House Sharing Becomes More Common With Down Economy | KPBS.org

House Sharing Becomes More Common With Down Economy | KPBS.org: "Faced with shrinking incomes and home values, more people are opening up their houses to strangers. We're talking about the modern boarding house, where homeowners rent out bedrooms in order to keep making the mortgage payment."
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Haven't these situations been fodder for more than a few horror movies? Thanks to Fred Pilot for this link.

Northwest Herald | Homeowners association how-to: What buyers should know before moving in

Northwest Herald | Homeowners association 
how-to: What buyers should know before moving in: "“This is an organization that can hold power over you and your home and can decide what you can do with your property,” McKenzie said. “They decide if you can have a flag pole, or a clothesline, or swing sets. If you are not comfortable with that, then don’t move into one of these.”"
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Thanks to Bill Davis for sending me this link.

Mortgages: Brooklyn Judge Rejects Improperly Documented Foreclosure Motions, Shocks Banking Industry

Mortgages: Brooklyn Judge Rejects Improperly Documented Foreclosure Motions, Shocks Banking Industry: "There's a judge in Brooklyn, NY, who has tossed out nearly half of the foreclosure cases brought before him over the past year, because the lenders have such messy paper trails that they can't prove ownership anymore."
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Thanks to Mystery Reader for this slice of life in Brooklyn. As the article says, the judge isn't using some arcane reading of the law. "He's just forcing lenders to follow the rules." Imagine that. Wouldn't it be nice if we had more judges forcing institutions--such as HOAs and condo associations--to follow the law?

Plecostomus fish cleaning pools in foreclosed homes

Something's fishy in Wellington |West Palm Beach News, South Florida
I have always liked these fish. They look like little dinosaurs.

Council Makes Plastic Flamingo Madison's Official Bird - Madison News Story - WISC Madison

Council Makes Plastic Flamingo Madison's Official Bird - Madison News Story - WISC Madison
This is also the symbol of the HOA activists. Does that mean they took over Madison, WI?

I have been abducted by aliens, says Japan's first lady - Asia, World - The Independent

I have been abducted by aliens, says Japan's first lady - Asia, World - The Independent: "Miyuki Hatoyama, wife of Japan's Prime Minister-elect, Yukio Hatoyama, is a lifestyle guru, a macrobiotics enthusiast, an author of cookery books, a retired actress, a divorcee, and a fearless clothes horse for garments of her own creation, including a skirt made from Hawaiian coffee sacks. But there is more, much more. She has travelled to the planet Venus. And she was once abducted by aliens."
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She seems remarkably well, considering all she has been through, don't you think?

Rodriguez sued for defaulting on real-estate deal - Big Ten - ESPN

Rodriguez sued for defaulting on real-estate deal - Big Ten - ESPN: "As if this week couldn't get worse for Michigan head coach Rich Rodriguez, there's this.

Annarbor.com reports that Rodriguez is being sued for defaulting on a loan he and four partners used to build a gated community of luxury condominiums near Virginia Tech's Lane Stadium in Blacksburg, Va. According to court records, Nexity Bank wants to collect $3,930,103.59 from Rodriguez and his partners, a sum that includes funds from a promissory note as well interest and late fees totaling approximately $300,000. The amount doesn't include attorney fees or court costs."

Curbed: Truffles Tribeca is Downtown's Newest Gated Community

Curbed: Truffles Tribeca is Downtown's Newest Gated Community: "Courtyard woe continues down in the unprotected wilds of North Tribeca, where anything goes these days. The residents of the new porcine penitentiary luxury rental complex charmingly labeled Truffles Tribeca have some added security at the perimeter of the complex's courtyard along Desbrosses Street. Could this be an homage to the old Newgate State Prison that once sat on the banks of the Hudson a few blocks to the north and did indeed employ some four-legged foodies to dispose of the garbage?"
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Quite a facade.

Farmer's Almanac predicts bitterly cold winter for parts of U.S. - CNN.com

Almanac predicts bitterly cold winter for parts of U.S. - CNN.com: "'A large area of numbingly cold temperatures will predominate from roughly east of the Continental Divide to west of the Appalachians. The coldest temperatures will be over the northern Great Lakes and the Upper Peninsula of Michigan.'"
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Argh. Here we are in August with night time temperatures in the 40s, and the forecast is for another bitter winter. I need to set some speaking gigs in warmer climates.

State Legislators In Now-Infamous Solitaire Photo Identified - Capitol Watch

State Legislators In Now-Infamous Solitaire Photo Identified - Capitol Watch: "On the left is Rep. Barbara Lambert, a freshman Democrat from Milford who won her first legislative election in November 2008. She replaced longtime Milford Democrat James Amann, who ended his legislative career as the House Speaker and is now running for governor against Republican M. Jodi Rell.

Lambert is playing spider solitaire in the photo, while Rep. Jack F. Hennessy, a Bridgeport Democrat who has served in Hartford since 2005, is playing regular solitaire."
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They are playing solitaire while the budget is debated.

Ex-property manager pleads guilty to grand theft : Local News : Ventura County Star

Ex-property manager pleads guilty to grand theft : Local News : Ventura County Star: "Daphne Ann Brenon, 53, will be sentenced Nov. 4. She is expected to be sentenced to four years and eight months in prison, according to Senior Deputy District Attorney Howard Wise.

Brenon was the property manager for Spanish Hills Homeowners Association of Camarillo from 1998 to 2004, Wise said. While in that position, Brenon stole more than $400,000 from the homeowners association by writing association checks to herself and her employer, Dahl Davis Property Management in Westlake Village, according to the district attorney’s office."
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Another isolated instance of misconduct.

Another round of "Guess that breed!"

Dog makes meal of NC deputy cruiser’s 4 tires | jacksonsun.com |
This contribution is from Fred Pilot.

Schwarzenegger to take prison fight to U.S. Supreme Court | Reuters

Schwarzenegger to take prison fight to U.S. Supreme Court | Reuters: "SAN FRANCISCO (Reuters) - California Gov. Arnold Schwarzenegger will appeal to the U.S. Supreme Court a federal court's order that the state reduce its prison population by 40,000 inmates, a spokesman said on Tuesday."
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Another boost for gun sales?

Oceans Could Absorb Much More CO2: Discovery News

Oceans Could Absorb Much More CO2: Discovery News: "Sept. 1, 2009 -- Earth's oceans are vast reservoirs of carbon dioxide (CO2) with the potential to control the pace of global warming.

It all hinges on the fate of marine 'snow' -- a constant sprinkle of carbon-rich bits that flutter down from the sea surface to the cold depths below. And according to a new study, the flurries could suck much more of the greenhouse gas out of the atmosphere than previously thought."
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But it's from that right-wing think tank, The Discovery Channel.

More San Francisco Bay Area homes sell for less than $60,000

More Bay Area homes sell for less than $60,000: "Condos for $20,000? Single-family homes for under $60,000? What is this, Detroit?

It's the topsy-turvy world of Bay Area real estate. Despite studies showing prices slowly rising overall, homes at the low end appear to be playing a game of limbo, flaunting prices comparable to what you'd pay for a car."
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I would have thought 20K would get you a hotel room for a month, but certainly not a condo. What a crazy market.

Climate Change Ups the Odds of Deadly Heat - Environmental Defense Fund

Climate Change Ups the Odds of Deadly Heat - Environmental Defense Fund: "Global warming doesn't just mean warmer weather. It also means we'll see more instances of extreme warm weather, often in the form of heat waves."
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For those who keep denying that environmentalists claim heat waves are evidence of global warming, take a look at this. I could supply any number of similar examples. Every time there is unusual heat anyplace in the world, out they come and say the same things. But of course when somebody like me points out examples of cool weather, suddenly the environmentalists say that such events prove nothing. Fine. I agree. But the point is that we should have one rule for everybody instead of a double standard. Perhaps the EDF and the rest of the fear-mongers could be consistent and shut up about heat waves.

Let's play, "Guess that breed!"

NC police: Dog chewed off baby's toes as mom slept

Chicago: August Ends With Near-Record Cold; Temperatures Close To 47-Degree Low - cbs2chicago.com

August Ends With Near-Record Cold; Temperatures Close To 47-Degree Low - cbs2chicago.com: "Usually, late August is time a when Chicagoans are thinking of hitting the beaches or lounging in the sidewalk cafes one last time, but this year, the temperatures have seemed more appropriate for Halloween.

The record low for Aug. 31 is 47 degrees, set in 1872. Overnight Sunday into Monday, the nippy readings were close, and in some areas even lower."
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It was cold all month, and 49 last night at O'Hare. As the article says, we had one day all month when it went into the 90s. We should be lying on the beach but we are wearing sweatshirts. No wonder so many people think global warming is a hoax. It may not be scientific, but when a mild summer is followed by a cold winter, and then you go into a cold summer, it's hard to convince people that we are cooking the planet.

Examiner Editorial: Why Democrats won’t cross trial lawyers | San Francisco Examiner

Examiner Editorial: Why Democrats won’t cross trial lawyers | San Francisco Examiner: "In the ranking by OpenSecrets.org of campaign contributions by the top 100 special interests during the past 20 years, the American Association for Justice — formerly the Association of Trial Lawyers of America — ranks sixth. The AAJ is trial lawyers’ Washington lobbying group, and 90 percent of its $30.7 million in contributions since 1989 went to Democrats."
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And as Howard Dean said, this is why the health care reform package will include zero limitations on medical malpractice lawsuits. Med mal tort reform would reduce the incentive to waste money on expensive tests and procedures (defensive medicine) and insurance premiums would go down for MDs.

Whenever this is pointed out, Democrats in Congress change the subject. Obama said in his talk to the AMA that he doesn't want it. It ought to be part of whatever Congress passes, but it won't. And there is exactly one reason. Lawyer money to Democrats.

The Associated Press: Agency that insures bank deposits may need help

The Associated Press: Agency that insures bank deposits may need help: "NEW YORK — The coffers of the Federal Deposit Insurance Corp. have been so depleted by the epidemic of collapsing financial institutions that analysts warn it could sink into the red by the end of this year."
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See below...

Banks 'Too Big to Fail' Have Grown Even Bigger - washingtonpost.com

Banks 'Too Big to Fail' Have Grown Even Bigger - washingtonpost.com: "Regulators' concerns are twofold: that consumers will wind up with fewer choices for services and that big banks will assume they always have the government's backing if things go wrong. That presumed guarantee means large companies could return to the risky behavior that led to the crisis if they figure federal officials will clean up their mess.

This problem, known as 'moral hazard,' is partly why government officials are keeping a tight rein on bailed-out banks -- monitoring executive pay, reviewing sales of major divisions -- and it is driving the Obama administration's efforts to create a new regulatory system to prevent another crisis. That plan would impose higher capital standards on large institutions and empower the government to take over a wide range of troubled financial firms to wind down their businesses in an orderly way."
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But who could have foreseen that shoveling vast quantities of government money into the nation's largest banks would make them bigger at the expense of smaller banks that had to ride out the crisis on their own? Well, everybody.

Sedalia, Missouri, school district recalls evolution-themed band shirts | News-Leader.com | Springfield News-Leader

Sedalia school district recalls evolution-themed shirts | News-Leader.com | Springfield News-Leader: "Designed with the help of band director Jordan Summers and assistant director Brian Kloppenburg, the light gray shirts feature an image of a monkey progressing through various stages of evolution until eventually becoming a human. Each figure holds a brass instrument that also evolves, illustrating the theme “Brass Evolutions.”

“I was disappointed with the image on the shirt,” said Sherry Melby, a band parent who teaches in the district. “I don’t think evolution should be associated with our school.”"
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Perhaps evolution did pass by Sedalia, Missouri, or at least some of its parents.

Commercial Real Estate Lurks as Next Potential Mortgage Crisis - WSJ.com

Commercial Real Estate Lurks as Next Potential Mortgage Crisis - WSJ.com: "Federal Reserve and Treasury officials are scrambling to prevent the commercial-real-estate sector from delivering a roundhouse punch to the U.S. economy just as it struggles to get up off the mat.

Their efforts could be undermined by a surge in foreclosures of commercial property carrying mortgages that were packaged and sold by Wall Street as bonds. Similar mortgage-backed securities created out of home loans played a big role in undoing that sector and triggering the global economic recession. Now the $700 billion of commercial-mortgage-backed securities outstanding are being tested for the first time by a massive downturn, and the outcome so far hasn't been pretty."
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I've posted on this before as a likely development, and now the vacancy rate and delinquency rate are way up.

Homeowners battle association for records

Homeowners battle association for records: "When homeowners suspect their neighborhood association of misusing their money, they ask to see the financial records. By law, homeowners associations must make their records available to all paying members.

It has never been that simple at Tampa Bay Golf & Country Club, so some homeowners are suing to get the records."
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It should never be necessary to sue your own association in order to see how your money is being spent.