Saturday, November 25, 2017

Malibu church to stop helping the homeless because city tells them it "lures the needy"

The United Methodist Church, one of many churches that provides food and help, has been offering free meals twice a week. But it said it was going to stop after being told the meal servicewas luring too many homeless people.
Dawn Randall, a member of the church, said it recently received an email from city officials. “Very succinctly, they claimed we are increasing homelessness,” she told CBS.
Malibu is a ritzy beach suburb north of Los Angeles. I guess the city wants the homeless to go back to East Third Street in downtown LA. 

South African gated communities socked for "draconian" practices

DURBAN - Property tycoon Niemesh Singh is prepared to fight the Mount Edgecombe Country Club Estate in the highest court should they appeal against a landmark high court judgment against gated estates.

On Friday, Singh successfully contested the “draconian rules”, including restrictions placed on the movement of domestic workers at the swish estate, in court this week. He said he was prepared for the “journey against arrogance”.

Residents were fined when their domestic workers were found walking on the pristine pathways, or when motorists failed to adhere to the 40km/h speed limit when driving on the estate’s roads.

Malaysian criminals operating from gated communities

JOHOR BARU, Nov 25 ― Datuk Nur Jazlan Mohamed revealed today that criminals are now operating from the safety of gated and guarded residential areas.
The deputy home minister said there have been cases of telephone scams, online gambling, human trafficking and also drug labs there since the police cannot go after them inside.


Wednesday, November 22, 2017

CondoGate: Is there a Scandal in your Community Association? - Realty Times

CondoGate: Is there a Scandal in your Community Association? - Realty Times

Attorney Benny Kass weighs in on a matter that people ask me about frequently.

Condos out, apartments in | Articles | News |

Condos out, apartments in | Articles | News |

"It was a golden age for condo conversions in the Chicago area in the 1980s and 90s, but the financial crash of 2008, changing demographics and a hot market for rental units has sent the pendulum swinging in the other direction. The real estate trend is now toward condo deconversions or bulk sales – where condo buildings are being converted back into rentals – also is taking place in Oak Park."

And in addition to a stronger market for rentals, the trend toward deconversion is driven by the failure of condo associations:  "The challenge we see now on the condo side are non-functioning condo associations," he said, adding that they often "don't have the money to pay for the work that's needed." Hess said CIC is in the early stages of determining whether to establish a fund to lend to these troubled condo associations."
Another interviewee, an attorney, pointed out other problems:  "Planek said tenants are steering away from condos in favor of rentals for a number of reasons: high taxes and assessments; increased desire for mobility; and lack of interest in being involved in condo associations."

Monday, November 20, 2017

Saudi Arabia Just Announced Plans to Build a Mega City That Will Cost $500 Billion - Bloomberg

Saudi Arabia Just Announced Plans to Build a Mega City That Will Cost $500 Billion - Bloomberg:

"Saudi Crown Prince Mohammed bin Salman announced plans to build a new city on the Red Sea coast, promising a lifestyle not available in today’s Saudi Arabia as he seeks to remake the kingdom in a time of dwindling resources. The prince said the city project, to be called “NEOM,” will operate independently from the “existing governmental framework” with investors consulted at every step during development. The project will be backed by more than $500 billion from the Saudi government, its sovereign wealth fund and local and international investors, according to a statement released on Tuesday at an international business conference in Riyadh."


The Saudi government is trying to diversity their economy as they plan for a post-oil world. They are using a $2 trillion (!) sovereign wealth fund to get involved in many investments, including infrastructure projects all over the world.