Could cougar be lurking near the Chicago Bears’ lair? - Lake County News-Sun
LAKE FOREST— There’s a lion stalking the fields not far from the home of the Chicago Bears, neighbors say.
At least three residents in Lake Forest have reported seeing what they think was a cougar or a mountain lion, in the last two weeks, said Phil Duncan, property manager for Conway Farms Homeowners Association, which is across the road from the Bears practice facility.
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This is turning into wild animal day.
Saturday, October 22, 2011
Real Estate | New rule a major condo headache | Seattle Times Newspaper
Real Estate | New rule a major condo headache | Seattle Times Newspaper
FHA says the rule changes it has adopted, which focus on project budgets, insurance and financial reserves, have been prudent and are designed to avert losses from delinquencies and foreclosures. But the agency confirms that thousands of condo projects have failed to obtain or apply for required recertifications under the new rules.
Out of approximately 25,000 condo projects nationwide with expiration dates for FHA eligibility between last December and Sept. 30 of this year, only 2,100 — just 8.4 percent — have been approved or recertified by the agency, according to Lemar Wooley, an agency spokesman.
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These rules force condo associations to collect assessments aggressively and fund reserves, among other things. There are many signs pointing to the same conclusion: many condo associations are in significant financial distress.
FHA says the rule changes it has adopted, which focus on project budgets, insurance and financial reserves, have been prudent and are designed to avert losses from delinquencies and foreclosures. But the agency confirms that thousands of condo projects have failed to obtain or apply for required recertifications under the new rules.
Out of approximately 25,000 condo projects nationwide with expiration dates for FHA eligibility between last December and Sept. 30 of this year, only 2,100 — just 8.4 percent — have been approved or recertified by the agency, according to Lemar Wooley, an agency spokesman.
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These rules force condo associations to collect assessments aggressively and fund reserves, among other things. There are many signs pointing to the same conclusion: many condo associations are in significant financial distress.
Gwyneth Williams's family sues homeowners' association after she's eaten by alligator | Mail Online
Gwyneth Williams's family sues homeowners' association after she's eaten by alligator | Mail Online
The family of an 83-year-old woman have sued a homeowners' association after she was killed by an alligator while swimming in a lagoon. Gwyneth Williams had been house-sitting for her daughter-in-law at their home in the swampy Savannah-area coastal development known as the Landings, Georgia. The pensioner had been walking near the subdivision's golf course in the evening when she was attacked by an 8ft alligator, which bit off both her hands and her right foot...The case at Georgia Supreme Court will hinge on whether the homeowners' association should be shielded from the lawsuit under a doctrine known as 'animals ferae naturae.'
Read more: http://www.dailymail.co.uk/news/article-2051296/Gwyneth-Williamss-family-sues-homeowners-association-shes-eaten-alligator.html#ixzz1bWzej8lR
Read more: http://www.dailymail.co.uk/news/article-2051296/Gwyneth-Williamss-family-sues-homeowners-association-shes-eaten-alligator.html#ixzz1bWzVWFp0
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Thanks to Fred Pilot for this link.
The family of an 83-year-old woman have sued a homeowners' association after she was killed by an alligator while swimming in a lagoon. Gwyneth Williams had been house-sitting for her daughter-in-law at their home in the swampy Savannah-area coastal development known as the Landings, Georgia. The pensioner had been walking near the subdivision's golf course in the evening when she was attacked by an 8ft alligator, which bit off both her hands and her right foot...The case at Georgia Supreme Court will hinge on whether the homeowners' association should be shielded from the lawsuit under a doctrine known as 'animals ferae naturae.'
Read more: http://www.dailymail.co.uk/news/article-2051296/Gwyneth-Williamss-family-sues-homeowners-association-shes-eaten-alligator.html#ixzz1bWzej8lR
Read more: http://www.dailymail.co.uk/news/article-2051296/Gwyneth-Williamss-family-sues-homeowners-association-shes-eaten-alligator.html#ixzz1bWzVWFp0
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Thanks to Fred Pilot for this link.
Thursday, October 20, 2011
California reportedly subpoenas BofA over toxic securities - latimes.com
California reportedly subpoenas BofA over toxic securities - latimes.com
Investigators with the state attorney general's office have subpoenaed Bank of America Corp. in connection with the sale and marketing of troubled mortgage-backed securities to California investors, according to a person familiar with the probe.
The state is trying to determine whether the bank and its Countrywide Financial subsidiary sold investments backed by risky mortgages to institutional and private investors in California under false pretenses, according to the person, who was not authorized to speak publicly and requested confidentiality.
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Gee...how could anybody suspect such a thing?
Investigators with the state attorney general's office have subpoenaed Bank of America Corp. in connection with the sale and marketing of troubled mortgage-backed securities to California investors, according to a person familiar with the probe.
The state is trying to determine whether the bank and its Countrywide Financial subsidiary sold investments backed by risky mortgages to institutional and private investors in California under false pretenses, according to the person, who was not authorized to speak publicly and requested confidentiality.
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Gee...how could anybody suspect such a thing?
UPDATE 2-US states near foreclosure deal with banks | Reuters
UPDATE 2-US states near foreclosure deal with banks | Reuters
Under the proposed terms of the settlement -- which could total $25 billion -- banks would get a broader relief from potential state civil lawsuits in exchange for refinancing underwater loans, those mortgages where borrowers owe more than their homes are worth, the sources said.
The deal could provide some relief to the battered U.S. housing market and clear up some uncertainty about banks' legal exposure that has been a drag on their shares.
Banks have been holding out on a multi-billion-dollar settlement because they wanted broader legal protection than state attorneys general were prepared to offer.
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Is anybody but me sick and tired of all the solicitude about these predatory banks and their precious stock prices? They plunged this economy into a depression. When are some of these bank CEOs going to be frog-marched down the steps and into a police car?
Under the proposed terms of the settlement -- which could total $25 billion -- banks would get a broader relief from potential state civil lawsuits in exchange for refinancing underwater loans, those mortgages where borrowers owe more than their homes are worth, the sources said.
The deal could provide some relief to the battered U.S. housing market and clear up some uncertainty about banks' legal exposure that has been a drag on their shares.
Banks have been holding out on a multi-billion-dollar settlement because they wanted broader legal protection than state attorneys general were prepared to offer.
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Is anybody but me sick and tired of all the solicitude about these predatory banks and their precious stock prices? They plunged this economy into a depression. When are some of these bank CEOs going to be frog-marched down the steps and into a police car?
Wednesday, October 19, 2011
The Volokh Conspiracy » A Real Live Violation of the Third Amendment
The Volokh Conspiracy » A Real Live Violation of the Third Amendment
The libertarian law profs at The Volokh Conspiracy have a story about the US military violating the Third Amendment (no quartering of troops in homes) during World War Two. Thanks to Mystery Reader for the link.
The libertarian law profs at The Volokh Conspiracy have a story about the US military violating the Third Amendment (no quartering of troops in homes) during World War Two. Thanks to Mystery Reader for the link.
Tuesday, October 18, 2011
Romney’s Foreclosure Plan: Faster Foreclosures | FDL News Desk
Romney’s Foreclosure Plan: Faster Foreclosures | FDL News Desk
Saith Lord Romney: "ROMNEY: Are there things that you can do to encourage housing. One is, don’t try and stop the foreclosure process. Let it run its course and hit the bottom, allow investors to buy homes, put renters in them, fix the homes up and let it turn around and come back up. The Obama Administration has slow-walked the foreclosure processes that have long existed, and as a result we still have a foreclosure overhang."
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Note that Lord Romney has not a word to say about the people who bought and live in those homes with their spouses and children. He is concerned about the Important People. That would be the "investors." This guy has zero compassion. People keep joking about him being animatronic, and I'm starting to wonder about that myself.
Saith Lord Romney: "ROMNEY: Are there things that you can do to encourage housing. One is, don’t try and stop the foreclosure process. Let it run its course and hit the bottom, allow investors to buy homes, put renters in them, fix the homes up and let it turn around and come back up. The Obama Administration has slow-walked the foreclosure processes that have long existed, and as a result we still have a foreclosure overhang."
-----------------
Note that Lord Romney has not a word to say about the people who bought and live in those homes with their spouses and children. He is concerned about the Important People. That would be the "investors." This guy has zero compassion. People keep joking about him being animatronic, and I'm starting to wonder about that myself.
House Prices and Birth Rates: The Impact of the Real Estate Market on the Decision to Have a Baby
House Prices and Birth Rates: The Impact of the Real Estate Market on the Decision to Have a Baby
Our estimates suggest that a 10 percent increase in house prices would lead to a 4 percent increase in births among home owners, and a roughly one percent decrease among non-owners. The net effect of house price changes on birth rates varies across demographic groups based on rates of home ownership. Our paper provides evidence that homeowners use some of their increased housing wealth, coming from increases in local area house prices, to fund their childbearing goals. More generally, the finding of a “home equity effect” demonstrates empirically that imperfect credit markets affect fertility timing.
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So then when the prices fall do people put their kids up for adoption?
Our estimates suggest that a 10 percent increase in house prices would lead to a 4 percent increase in births among home owners, and a roughly one percent decrease among non-owners. The net effect of house price changes on birth rates varies across demographic groups based on rates of home ownership. Our paper provides evidence that homeowners use some of their increased housing wealth, coming from increases in local area house prices, to fund their childbearing goals. More generally, the finding of a “home equity effect” demonstrates empirically that imperfect credit markets affect fertility timing.
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So then when the prices fall do people put their kids up for adoption?
Monday, October 17, 2011
Chicago's Great Migration: Blacks Leaving Historic Neighborhoods For Less Windy Cities
Chicago's Great Migration: Blacks Leaving Historic Neighborhoods For Less Windy Cities
Chicago has lost about 181,000 African Americans over the past decade, a drop of 17 percent. Many have fled to the Chicago suburbs. But to a greater extent, who is leaving and where they're going is difficult to determine, according to demographers. But Brookings Institute reports that these new migrants tend to be financially stable and more educated. Many are students, professionals or retirees.
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For decades, African-Americans were moving out of the rural South and into northern and western cities. Now there is a reverse migration of middle-class African-Americans to southern cities and suburbs, with the Atlanta area being especially popular. If this continues it will change the politics of all the the metro areas involved, on both ends.
Chicago has lost about 181,000 African Americans over the past decade, a drop of 17 percent. Many have fled to the Chicago suburbs. But to a greater extent, who is leaving and where they're going is difficult to determine, according to demographers. But Brookings Institute reports that these new migrants tend to be financially stable and more educated. Many are students, professionals or retirees.
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For decades, African-Americans were moving out of the rural South and into northern and western cities. Now there is a reverse migration of middle-class African-Americans to southern cities and suburbs, with the Atlanta area being especially popular. If this continues it will change the politics of all the the metro areas involved, on both ends.
Woman taps 'Occupy' protest to avoid foreclosure - US news - Life - msnbc.com
Woman taps 'Occupy' protest to avoid foreclosure - US news - Life - msnbc.com
“(The bank) kept saying we can’t do anything. Your case is closed,” said Gudiel. “Our stand was, ‘No, we’re not leaving. This is our home. We worked hard for it and we’re just not going to leave.’”
But instead of the anticipated confrontation, there was a dramatic reversal of fortune. Fanny Mae canceled the eviction notice and offered the Gudiels a loan modification that could enable them keep their home.
Why? Fannie Mae and loan servicer OneWest won’t discuss the case. But nonprofit advocates say a series of bold protests — with reinforcements from the “Occupy Wall Street” movement — and a spate of media interest put Rose in the limelight and forced the banks to back down.
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Interesting development, isn't it? There is so much blatant illegality going on with bank foreclosures and the phony "mortage rescue" solicitations that concerted political action is probably the most effective course of action. Few people can afford lawyers to force these institutions to obey the law.
“(The bank) kept saying we can’t do anything. Your case is closed,” said Gudiel. “Our stand was, ‘No, we’re not leaving. This is our home. We worked hard for it and we’re just not going to leave.’”
But instead of the anticipated confrontation, there was a dramatic reversal of fortune. Fanny Mae canceled the eviction notice and offered the Gudiels a loan modification that could enable them keep their home.
Why? Fannie Mae and loan servicer OneWest won’t discuss the case. But nonprofit advocates say a series of bold protests — with reinforcements from the “Occupy Wall Street” movement — and a spate of media interest put Rose in the limelight and forced the banks to back down.
----------------
Interesting development, isn't it? There is so much blatant illegality going on with bank foreclosures and the phony "mortage rescue" solicitations that concerted political action is probably the most effective course of action. Few people can afford lawyers to force these institutions to obey the law.
How California Was Diminished by 1978 Tax Revolt - Bloomberg
How California Was Diminished by 1978 Tax Revolt - Bloomberg
California voters approved Proposition 13 to rein in property taxes that had doubled in 10 years. More than three decades later, that rebellion has mortgaged the state’s future, saddling it with the nation’s highest debt and lowest credit rating.
The measure led to reductions that dropped per-student school spending from seventh to 29th nationally, prompted cities to pursue sprawling retail development to compensate for lost revenue, and pushed the state into budget gridlock, including a $705 million revenue shortfall announced Oct. 10, by requiring two-thirds approval for any tax increase.
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In 1978, conservatives told us that Proposition 13 would be the greatest thing that ever happened to California. Now the state's public institutions are disintegrating and maybe even Republicans will eventually come to understand how important public schools, colleges, parks, streets, highways, and other systems are to the functioning of an economy.
Thanks to Fred Pilot for the link.
California voters approved Proposition 13 to rein in property taxes that had doubled in 10 years. More than three decades later, that rebellion has mortgaged the state’s future, saddling it with the nation’s highest debt and lowest credit rating.
The measure led to reductions that dropped per-student school spending from seventh to 29th nationally, prompted cities to pursue sprawling retail development to compensate for lost revenue, and pushed the state into budget gridlock, including a $705 million revenue shortfall announced Oct. 10, by requiring two-thirds approval for any tax increase.
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In 1978, conservatives told us that Proposition 13 would be the greatest thing that ever happened to California. Now the state's public institutions are disintegrating and maybe even Republicans will eventually come to understand how important public schools, colleges, parks, streets, highways, and other systems are to the functioning of an economy.
Thanks to Fred Pilot for the link.
Sunday, October 16, 2011
"Broadband Blindness" trailer...starring Fred Pilot
Broadband Blindness
Chances are, your internet connection is running out of capacity. But what can you do? Maybe you’re happy right now. But with streaming Netflix and YouTube and photo album downloading, and...the list goes on...all of this is putting severe strains on the cable TV and telephone companies. Their answer is usually to throttle the network or charge you more for usage. And yet when they do, there’s no guarantee they’ll increase capacity to your home. End result? You’re screwed.
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Fred is interviewed in this film, and you can get a good sense of what the film is about right here.
Chances are, your internet connection is running out of capacity. But what can you do? Maybe you’re happy right now. But with streaming Netflix and YouTube and photo album downloading, and...the list goes on...all of this is putting severe strains on the cable TV and telephone companies. Their answer is usually to throttle the network or charge you more for usage. And yet when they do, there’s no guarantee they’ll increase capacity to your home. End result? You’re screwed.
----------------
Fred is interviewed in this film, and you can get a good sense of what the film is about right here.
Mexico’s newest export to US may be water
Mexico’s newest export to US may be water
Western states are looking south of the border for water to fill drinking glasses, flush toilets and sprinkle lawns, as four major U.S. water districts help plan one of two huge desalination plant proposals in Playas de Rosarito, about 15 miles south of San Diego. Combined, they would produce 150 million gallons a day, enough to supply more than 300,000 homes on both sides of the border.
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I gather that the plan is to put these desalination plants in Mexico so US corporations can avoid environmental regulations. On Fred Pilot's recommendation I just watched National Geographic's Collapse, a documentary on how and why our civilization may collapse. Just some light Sunday morning viewing. I have read a bunch of books about this, so it wasn't new material, but it is an excellent 90 minute summary of the situation we face. And of course we here in the US are busy debating evolution.
Western states are looking south of the border for water to fill drinking glasses, flush toilets and sprinkle lawns, as four major U.S. water districts help plan one of two huge desalination plant proposals in Playas de Rosarito, about 15 miles south of San Diego. Combined, they would produce 150 million gallons a day, enough to supply more than 300,000 homes on both sides of the border.
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I gather that the plan is to put these desalination plants in Mexico so US corporations can avoid environmental regulations. On Fred Pilot's recommendation I just watched National Geographic's Collapse, a documentary on how and why our civilization may collapse. Just some light Sunday morning viewing. I have read a bunch of books about this, so it wasn't new material, but it is an excellent 90 minute summary of the situation we face. And of course we here in the US are busy debating evolution.
Banks turn to demolition of foreclosed properties to ease housing-market pressures - The Washington Post
Banks turn to demolition of foreclosed properties to ease housing-market pressures - The Washington Post
The banks have even been footing the bill for the demolitions — as much as $7,500 a pop. Four years into the housing crisis, the ongoing expense of upkeep and taxes, along with costly code violations and the price of marketing the properties, has saddled banks with a heavy burden. It often has become cheaper to knock down decaying homes no one wants.
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Think about that.
The banks have even been footing the bill for the demolitions — as much as $7,500 a pop. Four years into the housing crisis, the ongoing expense of upkeep and taxes, along with costly code violations and the price of marketing the properties, has saddled banks with a heavy burden. It often has become cheaper to knock down decaying homes no one wants.
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Think about that.
‘Shadow inventory’ of homes could topple real-estate recovery - Business - MiamiHerald.com
‘Shadow inventory’ of homes could topple real-estate recovery - Business - MiamiHerald.com
Officially, there are 3.5 million homes for sale nationwide. But there are millions more lurking in the shadows — hidden neatly away on banks’ balance sheets, stalled in foreclosure court proceedings, or simply occupied by nonpaying owners as lenders wait months or years before taking action.
Read more: http://www.miamiherald.com/2011/10/15/v-fullstory/2456154/shadow-inventory-of-homes-could.html#ixzz1awa0ifi1
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Thanks to Fred Pilot for this link. This article documents what many people in the real estate industry are talking about among themselves. I spoke with one attorney Friday who said he thinks it will be seven years before housing prices start going up and construction of new homes takes off again. Check out the map that accompanies the article. It's perfect for Halloween--Attack of the Zombie Real Estate.
Officially, there are 3.5 million homes for sale nationwide. But there are millions more lurking in the shadows — hidden neatly away on banks’ balance sheets, stalled in foreclosure court proceedings, or simply occupied by nonpaying owners as lenders wait months or years before taking action.
Read more: http://www.miamiherald.com/2011/10/15/v-fullstory/2456154/shadow-inventory-of-homes-could.html#ixzz1awa0ifi1
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Thanks to Fred Pilot for this link. This article documents what many people in the real estate industry are talking about among themselves. I spoke with one attorney Friday who said he thinks it will be seven years before housing prices start going up and construction of new homes takes off again. Check out the map that accompanies the article. It's perfect for Halloween--Attack of the Zombie Real Estate.
Two charged with stealing Lawrence County bridge
Two charged with stealing Lawrence County bridge
Police said that Benjamin Arthur Jones, 24, and Alexander William Jones, 25, used a torch to tear apart the Covert's Crossing Bridge late last month or early this month. The bridge had been in North Beaver Township since at least the early 1900s and was worth an estimated $100,000.
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Read more: http://www.postgazette.com/pg/11288/1182400-100.stm#ixzz1awT3uddW
There's a headline you don't see every day. The thing is, our infrastructure is in such a state of disrepair that it's hard to see how anybody could make a buck by stealing it.
Police said that Benjamin Arthur Jones, 24, and Alexander William Jones, 25, used a torch to tear apart the Covert's Crossing Bridge late last month or early this month. The bridge had been in North Beaver Township since at least the early 1900s and was worth an estimated $100,000.
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Read more: http://www.postgazette.com/pg/11288/1182400-100.stm#ixzz1awT3uddW
There's a headline you don't see every day. The thing is, our infrastructure is in such a state of disrepair that it's hard to see how anybody could make a buck by stealing it.
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