Powerful HOAs Leave Many Texans Feeling Homeless « CBS Dallas / Fort Worth

Powerful HOAs Leave Many Texans Feeling Homeless « CBS Dallas / Fort Worth

Fannie Mae had first-quarter profit, needs no new taxpayer funds - latimes.com

Fannie Mae had first-quarter profit, needs no new taxpayer funds - latimes.com

WASHINGTON — Fannie Mae on Wednesday reported a $2.7-billion profit for the first three months of the year and will not need new taxpayer money for the first time since the government seized the housing finance giant in 2008.


Fannie Mae said the improvement in its finances came from a slower decline in housing prices, a lower rate of homeowners behind on their payments and fewer foreclosed homes on the company's books.
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It's nice to see something that isn't entirely negative. I think that passes for semi-optimism.

The woman who lives in a shed: how London landlords are cashing in | Society | The Guardian

The woman who lives in a shed: how London landlords are cashing in | Society | The Guardian

Council finds people living in everything from massively overcrowded houses to a walk-in freezer – and the problem is getting worse...Converted sheds have become an increasingly mainstream – if illegal – part of the London property market. It's a logical development, given the explosion of property prices throughout the capital, and the huge shortage of supply. As central London becomes more expensive, people are pushed further out and rental prices even in Newham, which is the second most deprived borough in England and Wales, are rising fast.

Landlords are subdividing family homes into smaller and smaller units, haphazardly extending plumbing and electricity connections from the main properties into the garden sheds and garages, which they have no problem in renting out.

Newham's mayor, Sir Robin Wales, is dismayed. "It's big money. You get a few breeze blocks, sling up some crappy old shed in your back garden, and now you're making hundreds and hundreds of pounds a week. It doesn't take long for you to make a lot of money out of it, provided you are prepared to trade in human misery.

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Life under the virtuous austerity program of David Cameron is working out to be much like the Victorian Era. They are back in recession. If the Republicans take over the national government in November, we can look forward to the same.

Ecuador law would forgive debt on defaulted mortgages of first-time buyers - The Washington Post

Ecuador law would forgive debt on defaulted mortgages of first-time buyers - The Washington Post

QUITO, Ecuador — Ecuador’s legislature has passed legislation that would require banks to forgive any outstanding debt on mortgages for first-time home buyers of properties worth up to $146,000 if they default and forfeit a home.


The measure, aimed at discouraging a real estate bubble of the type that has caused so much pain in the United States and Europe, won praise from many Ecuadoreans on Wednesday. The country’s banking industry did not immediately comment.
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That makes Ecuador the leading edge of housing finance reform.

George Lucas pushes low-income housing option

George Lucas pushes low-income housing option

The Marin Community Foundation announced Tuesday that it is working with Lucasfilm to "explore options" for building affordable housing in the location where the movie mogul wanted to build a film studio until residents in an adjacent subdivision protested.

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I can see why "affordable" housing is needed there. Marin County homes are currently worth an average of $565,000.

PHOTOS: Wilbur the pig wins Texas HOA court battle | kens5.com San Antonio

PHOTOS: Wilbur the pig wins Texas HOA court battle | kens5.com San Antonio
The HOA says Wilbur is livestock. The family says he is a pet. The judge agrees with the family: Wilbur is a pet. I wonder if he asked, "But why does the pig have a wooden leg?" (IF you don't know that joke, it's easy to look up.)

Thanks to Fred Pilot for the link.

“The HOAX” is Plugged on ABC Channel 13 Las Vegas | The HOAX documentary

“The HOAX” is Plugged on ABC Channel 13 Las Vegas | The HOAX documentary
Yes, indeed it is. There is even a link on the Channel 13 website to the trailer for Rodney's film.

HOA board member's bad behavior catches up with him - www.ktnv.com

HOA board member's bad behavior catches up with him - www.ktnv.com

North Las Vegas, NV (KTNV) -- He's the man Contact 13 dubbed president of the HOA Hall of Shame.

And now, his reign may be coming to an end.

Chief Investigator Darcy Spears first broke this story in late 2010. Now, a year and a half later, the state is finally taking action against Joe Bitsky...The letter says the Real Estate Division has "obtained sufficient evidence to commence a disciplinary action... and intends to file a complaint for hearing before the Commission for Common Interest Communities." In the letter, the Autumn Chase board is accused of violating more than 16 state laws, including failing to audit HOA funds; failing to hold proper elections; and conducting financial transactions not in the association's interest and for their own personal gain such as using association money to install security cameras on their home....And as always, continue sending your nominations for the HOA Hall of Shame to 13investigates@ktnv.com.

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And check out this plug for Rodney Gray's new documentary:  "Bitsky's behavior and Contact 13's coverage of it has earned Autumn Chase and our own Darcy Spears a featured spot in a soon-to-be-released national documentary on HOAs. We've set up a link to the trailer.  To see it, just type links in the search box.."

Off the Grid : Eric Valli

Off the Grid : Eric Valli


"There are growing number of people 
who have decided to live light on the earth
to not be a part of problem anymore
I spent the last few years with four of them 
striving for harmony with nature 
in the most pristine corners of United States."
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These photos are just amazing. Take a look.

The homes of the future: Amazing pictures of sleek and stylish houses show next generation of American living | Mail Online

The homes of the future: Amazing pictures of sleek and stylish houses show next generation of American living | Mail Online
Isn't it interesting that whenever people talk about homes of the future or dream homes, the place is always unique and often designed to reflect the owner's interests or personality?  That is, when the owner is rich. When the owner is a working schmoe like most of us, s/he gets a place that is a testament to rigid uniformity.  Not only does look like everything else in the neighborhood--it comes with a set of rules that make it impossible for the owner to make any significant changes in the house's appearance, size, or function.  I guess individualized homes are a perquisite of the rich and famous. The rest of us are governed by the banking and investment system that requires fungible housing units, so they can be securitized and valued and maintained as little pieces of security for mortgage backed securities.

State lawmakers look to ease oversight on private prisons - CBS 5 - KPHO

State lawmakers look to ease oversight on private prisons - CBS 5 - KPHO

Two convicted killers and a third dangerous criminal broke out of a medium security private prison facility in Kingman Arizona in July 2010.

The escapees were eventually caught after a nationwide manhunt, but not before an Oklahoma couple was killed.

The escape and murders that followed raised some serious questions about private prison safety standards and whether new policies should be put in place to prevent prison breaks from happening again.

Two years later, Arizona lawmakers have decided to go in a different direction.

Buried in the $8.6 billion budget proposal passed at the state Capitol this week is a plan to "eliminate the requirement for a quality and cost review of private prison contracts."

It means there would no longer be an annual review of how private prisons operate.

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Great idea. Handle privatized prisons the same way they handle privatized neighborhoods: no oversight. That way, the private contractors can claim that privatization is a huge success. Maybe Zogby could do a quick poll...

Oh, and guess what the last study found:  "That study found that in some cases private prisons cost taxpayers more than state-run facilities."