Having wrecked the American economy and political system by supporting policies that caused skyrocketing inequality and the erosion of the middle class, rich people are now looking for someplace else to live.
Tuesday, November 24, 2020
Rich Americans Are Increasingly Looking for Second Passport
Rich Americans Are Increasingly Looking for Second Passport
Thursday, October 15, 2020
New York coronavirus exodus fuels Maine real estate boom
New York coronavirus exodus fuels Maine real estate boom
"Prospective renters and buyers were desperate, according to brokers on the front lines. “People have called and said, ‘Get me any house in Maine,’ ” said Gwyneth Freeman of Better Homes & Gardens, The Masiello Group. A strong economy and low interest rates made 2019 a historically good year for Maine real estate, resulting in 40 percent less inventory in 2020. When frantic out-of-staters began looking to escape the pandemic, housing demand exceeded supply, pushing prices up and accounting for a large volume of closed sales."
------------
By gorey.
"Prospective renters and buyers were desperate, according to brokers on the front lines. “People have called and said, ‘Get me any house in Maine,’ ” said Gwyneth Freeman of Better Homes & Gardens, The Masiello Group. A strong economy and low interest rates made 2019 a historically good year for Maine real estate, resulting in 40 percent less inventory in 2020. When frantic out-of-staters began looking to escape the pandemic, housing demand exceeded supply, pushing prices up and accounting for a large volume of closed sales."
------------
By gorey.
Wednesday, October 14, 2020
Real estate prices are about to drop 10%
Real estate prices are about to drop 10%
"The wholesale disruption of COVID-19 is taking a toll on the real estate market. A new survey suggests that offices will remain under capacity for months, retail and hospitality will continue to struggle, and, despite some increases in single-family home values, real estate across the board will see its value fall around 10% next year. These are some of the main findings of “Emerging Trends in Real Estate 2021,” a new report from the Urban Land Institute and PwC."
--------------
I've been wondering whether or not the industry would start to get nervous about the impact of COVID on real estate markets and prices. Here's a large-scale study based on interviews with professionals that sees significant negative impacts, except perhaps in suburban residential property.
"The wholesale disruption of COVID-19 is taking a toll on the real estate market. A new survey suggests that offices will remain under capacity for months, retail and hospitality will continue to struggle, and, despite some increases in single-family home values, real estate across the board will see its value fall around 10% next year. These are some of the main findings of “Emerging Trends in Real Estate 2021,” a new report from the Urban Land Institute and PwC."
--------------
I've been wondering whether or not the industry would start to get nervous about the impact of COVID on real estate markets and prices. Here's a large-scale study based on interviews with professionals that sees significant negative impacts, except perhaps in suburban residential property.
Saturday, October 10, 2020
Inside the climate battle quietly raging about US homes | US news | The Guardian
Inside the climate battle quietly raging about US homes | US news | The Guardian
"On one side are the city and state officials trying to go greener, and on the other are real estate developers and the natural gas industry. The International Code Council, which like the World Series largely concerns Americans, met this week on updating the baseline codes that most states and cities adopt for new buildings. The council is reviewing about two dozen proposals that would, for example, require builders to install electrical outlets near gas stoves that may one day be replaced with electric ones; and to wire enough power to garages where people may one day want to plug in electric cars...With the stakes high, climate advocates last year launched a campaign to make sure that more climate-minded officials – the ones that set energy and environment rules, in addition to those who enforce code – were involved in the normally obscure process."
--------------------
The real estate development industry is accustomed to having veto power over major building code changes, which is why they are so freaked out over having people with more of an environmental orientation involved in making the rules.
"On one side are the city and state officials trying to go greener, and on the other are real estate developers and the natural gas industry. The International Code Council, which like the World Series largely concerns Americans, met this week on updating the baseline codes that most states and cities adopt for new buildings. The council is reviewing about two dozen proposals that would, for example, require builders to install electrical outlets near gas stoves that may one day be replaced with electric ones; and to wire enough power to garages where people may one day want to plug in electric cars...With the stakes high, climate advocates last year launched a campaign to make sure that more climate-minded officials – the ones that set energy and environment rules, in addition to those who enforce code – were involved in the normally obscure process."
--------------------
The real estate development industry is accustomed to having veto power over major building code changes, which is why they are so freaked out over having people with more of an environmental orientation involved in making the rules.
Monday, September 21, 2020
DOJ Designates New York City as an “Anarchist Jurisdiction” – NBC New York
DOJ Designates New York City as an “Anarchist Jurisdiction” – NBC New York
"New York City is one of three places that "have permitted violence and destruction of property to persist and have refused to undertake reasonable measures to counteract criminal activities," leading to its designation as an "anarchist jurisdiction," the Justice Department said Monday. Rather than idle words, the designation has potential financial consequences. President Trump issued a memo earlier this month directing the DOJ to identify jurisdictions that, in its view, were not enforcing the law appropriately. Designated cities could lose their federal funding. Trump's order gives the director of the Office of Management and Budget 30 days to issue guidance to federal agencies on restricting eligibility for federal grants for the cities on the DOJ list. Such grants make up a huge portion of NYC's already strapped annual budget -- more than $7 billion in fiscal 2021 alone, or 7.5% of the city's projected total revenue."
------------
The only anarchist jurisdiction in this country today is the White House.
"New York City is one of three places that "have permitted violence and destruction of property to persist and have refused to undertake reasonable measures to counteract criminal activities," leading to its designation as an "anarchist jurisdiction," the Justice Department said Monday. Rather than idle words, the designation has potential financial consequences. President Trump issued a memo earlier this month directing the DOJ to identify jurisdictions that, in its view, were not enforcing the law appropriately. Designated cities could lose their federal funding. Trump's order gives the director of the Office of Management and Budget 30 days to issue guidance to federal agencies on restricting eligibility for federal grants for the cities on the DOJ list. Such grants make up a huge portion of NYC's already strapped annual budget -- more than $7 billion in fiscal 2021 alone, or 7.5% of the city's projected total revenue."
------------
The only anarchist jurisdiction in this country today is the White House.
Wednesday, September 16, 2020
Placer County CA homeless people find a house in the suburbs | The Sacramento Bee
Placer County CA homeless people find a house in the suburbs | The Sacramento Bee
"As cities around the country struggle with a growing homeless population and few solutions beyond temporary homeless shelters or single-occupancy hotels, Placer County has been placing some of its homeless population on quiet suburban streets. It’s an attempt to fully integrate formerly homeless people into the community without the extreme costs of building permanent affordable housing...In interviews with The Bee, neighbors also said the existence of the home could threaten their property values, and that erratic behavior, loitering, drinking and smoking in public are unwelcome in their neighborhood.
But for the formerly homeless people who occupy the homes, they’ve found a new sense of comfort without the hassles of living in shelters, on church doorsteps, or the street."
---------------
Thanks to Fred Pilot for this link. This is a difficult issue for suburbanites, who tend to believe that they have moved away from social issues such as homelessness. But doing it this way is much less expensive than building new housing for the homeless: "The unique arrangement in Placer County contrasts starkly with the extraordinary per-person costs of developing new housing for homeless people in California. At the Capitol Park Hotel downtown, for example, development costs will reach more than $445,000 per unit for apartments that are tiny — about 250 square feet. With the program in Placer County, six people live in each of the four houses — purchased for about $600,000 each — a significantly lower per-person cost than new affordable housing developments."
"As cities around the country struggle with a growing homeless population and few solutions beyond temporary homeless shelters or single-occupancy hotels, Placer County has been placing some of its homeless population on quiet suburban streets. It’s an attempt to fully integrate formerly homeless people into the community without the extreme costs of building permanent affordable housing...In interviews with The Bee, neighbors also said the existence of the home could threaten their property values, and that erratic behavior, loitering, drinking and smoking in public are unwelcome in their neighborhood.
But for the formerly homeless people who occupy the homes, they’ve found a new sense of comfort without the hassles of living in shelters, on church doorsteps, or the street."
---------------
Thanks to Fred Pilot for this link. This is a difficult issue for suburbanites, who tend to believe that they have moved away from social issues such as homelessness. But doing it this way is much less expensive than building new housing for the homeless: "The unique arrangement in Placer County contrasts starkly with the extraordinary per-person costs of developing new housing for homeless people in California. At the Capitol Park Hotel downtown, for example, development costs will reach more than $445,000 per unit for apartments that are tiny — about 250 square feet. With the program in Placer County, six people live in each of the four houses — purchased for about $600,000 each — a significantly lower per-person cost than new affordable housing developments."
Wednesday, September 09, 2020
The Fed Now Owns Nearly One Third of All US Mortgages
The Fed Now Owns Nearly One Third of All US Mortgages
"The Fed has snapped up $1 trillion of mortgage bonds since March. It bought around $300 billion of the bonds in each of March and April, and since then has been buying about $100 billion a month. The Fed now owns almost a third of bonds backed by home loans in the U.S. Buying the securities has pushed mortgage rates lower, with the average 30-year rate falling to 2.91% as of last week from 3.3% in early February. Morgan Stanley analysts pointed out in late March that the buying was running at eight times the pace seen in prior episodes of Fed purchasing under programs known as quantitative easing."
------------
"The Fed has snapped up $1 trillion of mortgage bonds since March. It bought around $300 billion of the bonds in each of March and April, and since then has been buying about $100 billion a month. The Fed now owns almost a third of bonds backed by home loans in the U.S. Buying the securities has pushed mortgage rates lower, with the average 30-year rate falling to 2.91% as of last week from 3.3% in early February. Morgan Stanley analysts pointed out in late March that the buying was running at eight times the pace seen in prior episodes of Fed purchasing under programs known as quantitative easing."
------------
Wednesday, September 02, 2020
Californians are buying their own fire trucks on Craigslist - SFGate
Californians are buying their own fire trucks on Craigslist - SFGate
"One seller is hoping to get $15,000 for a 53-year-old Ford 150 fire truck. He confesses that he "was told the pump needed some seals," but suggests that "with these lightning complex fires going on, maybe you could use it." Over the last few years, as wildfires have become more common, there has also been a rise in a small but growing number of wealthy residents hiring private firefighting crews to watch over their acres. Cal Fire has discouraged attempts to defend one's own property during an evacuation order. “People don’t understand the veracity of these fires that we’ve been dealing with the last five or so years,” Cal Fire Fire Captain Scott McLean told SFGATE. “They’re very unpredictable and you can’t project what the fire’s going to do.”
------
The ultimate in privatization. You buy your own fire truck and hire your own firefighting crew.
"One seller is hoping to get $15,000 for a 53-year-old Ford 150 fire truck. He confesses that he "was told the pump needed some seals," but suggests that "with these lightning complex fires going on, maybe you could use it." Over the last few years, as wildfires have become more common, there has also been a rise in a small but growing number of wealthy residents hiring private firefighting crews to watch over their acres. Cal Fire has discouraged attempts to defend one's own property during an evacuation order. “People don’t understand the veracity of these fires that we’ve been dealing with the last five or so years,” Cal Fire Fire Captain Scott McLean told SFGATE. “They’re very unpredictable and you can’t project what the fire’s going to do.”
------
The ultimate in privatization. You buy your own fire truck and hire your own firefighting crew.
Monday, August 31, 2020
San Francisco Real Estate - Complicated Market Conditions - Compass
San Francisco Real Estate - Complicated Market Conditions - Compass
"As illustrated below, the San Francisco market currently reflects a variety of both positive and negative indicators. Among Bay Area markets, the city is seeing the softest recovery from the initial shelter-in-place plunge in activity in early spring, while some other counties - less expensive, more suburban or rural - are experiencing extremely high demand. (See table near the end of this report.) Within San Francisco itself, supply and demand conditions have diverged dramatically between house and condo markets, with the latter being far weaker and rapidly climbing into "buyer's market" territory."
--------------
Here is the report that the article I linked to below was based on. The market for condos is showing signs of weakness, which always seems to happen when a downturn in the real estate market begins. Condos are hit first. Does that mean that other parts of the real estate market will go down? Not necessarily, but we shall see. Some analysts think the suburban market for single family homes will benefit from the forces that are hurting the condo market. COVID, unemployment, civil unrest...
"As illustrated below, the San Francisco market currently reflects a variety of both positive and negative indicators. Among Bay Area markets, the city is seeing the softest recovery from the initial shelter-in-place plunge in activity in early spring, while some other counties - less expensive, more suburban or rural - are experiencing extremely high demand. (See table near the end of this report.) Within San Francisco itself, supply and demand conditions have diverged dramatically between house and condo markets, with the latter being far weaker and rapidly climbing into "buyer's market" territory."
--------------
Here is the report that the article I linked to below was based on. The market for condos is showing signs of weakness, which always seems to happen when a downturn in the real estate market begins. Condos are hit first. Does that mean that other parts of the real estate market will go down? Not necessarily, but we shall see. Some analysts think the suburban market for single family homes will benefit from the forces that are hurting the condo market. COVID, unemployment, civil unrest...
SF condo inventory spikes, with price reductions skyrocketing
SF condo inventory spikes, with price reductions skyrocketing
"As buyers become pickier and shelter in place orders exacerbate the need for private outdoor space, the San Francisco condo market has been beset by rising inventory and declining prices, according to new data compiled by Compass. The young people who would have been shopping for condos may be more likely to be impacted by layoffs, according to the report. There's also increasing demand outside of the city, with those staying showing a vast preference for single-family homes, which have not seen the same level of declining demand. "Within San Francisco itself, supply and demand conditions have diverged dramatically between house and condo markets, with the latter being far weaker and rapidly climbing into 'buyer's market' territory," according to the report."
-------------
Another data point supporting the notion that demand for center city real estate is beginning to drop, while demand for housing in the suburbs is going up.
"As buyers become pickier and shelter in place orders exacerbate the need for private outdoor space, the San Francisco condo market has been beset by rising inventory and declining prices, according to new data compiled by Compass. The young people who would have been shopping for condos may be more likely to be impacted by layoffs, according to the report. There's also increasing demand outside of the city, with those staying showing a vast preference for single-family homes, which have not seen the same level of declining demand. "Within San Francisco itself, supply and demand conditions have diverged dramatically between house and condo markets, with the latter being far weaker and rapidly climbing into 'buyer's market' territory," according to the report."
-------------
Another data point supporting the notion that demand for center city real estate is beginning to drop, while demand for housing in the suburbs is going up.
Tuesday, August 25, 2020
Late-Stage Delinquencies are Surging, Especially Those With FHA Loans
Late-Stage Delinquencies are Surging, Especially Those With FHA Loans
"The overall rate of loans 30 or more days past due increased during the second quarter to a seasonally adjusted 8.22 percent of all outstanding one-to-four-unit mortgages. This was up 386 basis points (bps) from the first quarter of the year and 369 bps year-over-year. MBA includes loans in forbearance in its delinquency numbers."
----------
Mortgage delinquencies are generally accompanied by not paying HOA and condo assessments, which is bad news. Banks can survive these situations a lot better than associations that operate on a shoestring budget and have no source of income but assessments.
"The overall rate of loans 30 or more days past due increased during the second quarter to a seasonally adjusted 8.22 percent of all outstanding one-to-four-unit mortgages. This was up 386 basis points (bps) from the first quarter of the year and 369 bps year-over-year. MBA includes loans in forbearance in its delinquency numbers."
----------
Mortgage delinquencies are generally accompanied by not paying HOA and condo assessments, which is bad news. Banks can survive these situations a lot better than associations that operate on a shoestring budget and have no source of income but assessments.
Sunday, August 23, 2020
Steve Bannon Arrested on Superyacht Owned by Chinese Billionaire – Robb Report
Steve Bannon Arrested on Superyacht Owned by Chinese Billionaire – Robb Report
"[Guo] Wengui, an exiled Chinese billionaire, has business ties to Bannon. He was not arrested yesterday, but there are warrants out for his arrest in Beijing, where authorities have accused Wengui of crimes including bribery, kidnapping, money laundering, fraud and rape. He fled to the U.S. in late 2014 and lives in self-imposed exile in Manhattan. He is also a member of President Trump’s Mar-A-Lago club in Florida."
----------
Guo Wengui is a great example of Privatopia. He is essentially stateless by choice, a citizen of nowhere who moves through a world of private institutions and private wealth, protecting his wealth from taxation and living above the civil and criminal laws of all nations. And here is Steve Bannon, Mr. Nationalism, the architect of Trump's nativist-themed campaign, palling around with him. The hypocrisy is pretty obvious. Most of Trump's anti-government, pro-privatization moves have been scams of some sort. Bannon's fake border wall-building fund raising was a scam. The effort to destroy the US Postal Service is another.
"[Guo] Wengui, an exiled Chinese billionaire, has business ties to Bannon. He was not arrested yesterday, but there are warrants out for his arrest in Beijing, where authorities have accused Wengui of crimes including bribery, kidnapping, money laundering, fraud and rape. He fled to the U.S. in late 2014 and lives in self-imposed exile in Manhattan. He is also a member of President Trump’s Mar-A-Lago club in Florida."
----------
Guo Wengui is a great example of Privatopia. He is essentially stateless by choice, a citizen of nowhere who moves through a world of private institutions and private wealth, protecting his wealth from taxation and living above the civil and criminal laws of all nations. And here is Steve Bannon, Mr. Nationalism, the architect of Trump's nativist-themed campaign, palling around with him. The hypocrisy is pretty obvious. Most of Trump's anti-government, pro-privatization moves have been scams of some sort. Bannon's fake border wall-building fund raising was a scam. The effort to destroy the US Postal Service is another.
Thursday, August 20, 2020
Urban Exiles Are Fueling a Suburban Housing Boom Across the U.S.
Urban Exiles Are Fueling a Suburban Housing Boom Across the U.S.
"In the Covid era, the single-family houses that are the stock in trade for Previti’s Frontier Communities are a hot commodity. Armed with the lowest mortgage rates in history, buyers are increasingly shunning urban centers, settling instead where they can live at a safe distance from their neighbors. “Is this the little runup before everything runs off the rails?” asks Previti, chief executive officer."
-----------------
I've seen a number of articles saying the same thing, but I'm holding off on believing it for another year or so. There are too many unknowns about COVID-19, the state of the economy, and the November election.
"In the Covid era, the single-family houses that are the stock in trade for Previti’s Frontier Communities are a hot commodity. Armed with the lowest mortgage rates in history, buyers are increasingly shunning urban centers, settling instead where they can live at a safe distance from their neighbors. “Is this the little runup before everything runs off the rails?” asks Previti, chief executive officer."
-----------------
I've seen a number of articles saying the same thing, but I'm holding off on believing it for another year or so. There are too many unknowns about COVID-19, the state of the economy, and the November election.
Monday, August 17, 2020
Top Consumer Home Features During Coronavirus - Realtor.com Economic Research
Top Consumer Home Features During Coronavirus - Realtor.com Economic Research
Some people, notably author Joel Kotkin, argue that COVID-19 is killing cities. I think it is too early to predict that people will move from cities to suburbs to avoid contagion. Pandemics are as old as humanity and so are cities, which are bigger than ever all over the world.
Some people, notably author Joel Kotkin, argue that COVID-19 is killing cities. I think it is too early to predict that people will move from cities to suburbs to avoid contagion. Pandemics are as old as humanity and so are cities, which are bigger than ever all over the world.
- "Consumers value quiet neighborhoods, outdoor spaces and proximity to grocery stores during pandemic
- Reflecting constraints of quarantines, consumers struggle with confinement, separation from family and friends, and elevated stress
- More space, updated kitchens and home gyms top list of desired changes for current homes
- Having more personal and family time ranks as top benefit of sheltering at home
- Wish list for next homes: bigger houses, more outdoor spaces and updated kitchens"
Tuesday, August 11, 2020
Fraud & Embezzlement – Community Associations Network
Fraud & Embezzlement – Community Associations Network
I lost track of all the fraud and embezzlement stories, but Community Associations Network has it all! Check it out.
I lost track of all the fraud and embezzlement stories, but Community Associations Network has it all! Check it out.
Condo Prices Falling at Trump International Hotel & Tower Chicago
Condo Prices Falling at Trump International Hotel & Tower Chicago
"Prices are down at the Trump International Hotel & Tower in Chicago. They’re down big-time. Hotel rooms in the 98-story building can be purchased for less than $200,000 these days, though real estate experts might caution you against pulling the trigger: After hotel management fees, taxes and interest on the loan, there likely wouldn’t be much rental income on the room, Gail Lissner managing director at Integra Realty Resources, told the Chicago Sun-Times."
--------------
Heartbreaking. Where's my tiny violin?
"Prices are down at the Trump International Hotel & Tower in Chicago. They’re down big-time. Hotel rooms in the 98-story building can be purchased for less than $200,000 these days, though real estate experts might caution you against pulling the trigger: After hotel management fees, taxes and interest on the loan, there likely wouldn’t be much rental income on the room, Gail Lissner managing director at Integra Realty Resources, told the Chicago Sun-Times."
--------------
Heartbreaking. Where's my tiny violin?
PCB woman arrested for allegedly defrauding condo associations
PCB woman arrested for allegedly defrauding condo associations
"PANAMA CITY, Fla. (WJHG) - The Bay County Sheriff’s Office announced Thursday the arrest of a Panama City Beach woman for allegedly defrauding several condo associations. Deputies say 52-year-old Lynn Price has been charged with Ongoing Scheme to Defraud in Excess of $50,000 for her alleged involvement. Bay County Sheriff’s officials say they were made aware of the possible theft back in May when $230,000 was removed from one local condo association’s bank account and deposited into a second association’s account. Deputies tell us the second association began reviewing their bank records and found that money had been removed from their account since at least 2017 by their association manager, Lynn Price."
-----------
A few years ago I tried to keep track of the condo association fraud stories but there were so many I gave up. If you live in a condo or HOA you need to be vigilant about where your money is going and who has access to it.
"PANAMA CITY, Fla. (WJHG) - The Bay County Sheriff’s Office announced Thursday the arrest of a Panama City Beach woman for allegedly defrauding several condo associations. Deputies say 52-year-old Lynn Price has been charged with Ongoing Scheme to Defraud in Excess of $50,000 for her alleged involvement. Bay County Sheriff’s officials say they were made aware of the possible theft back in May when $230,000 was removed from one local condo association’s bank account and deposited into a second association’s account. Deputies tell us the second association began reviewing their bank records and found that money had been removed from their account since at least 2017 by their association manager, Lynn Price."
-----------
A few years ago I tried to keep track of the condo association fraud stories but there were so many I gave up. If you live in a condo or HOA you need to be vigilant about where your money is going and who has access to it.
Monday, July 27, 2020
The Surprising Ways Race Remains a Factor in Mortgage Lending | realtor.com®
The Surprising Ways Race Remains a Factor in Mortgage Lending | realtor.com®
“There are many practices that lenders can engage in to accomplish the same thing as literal redlining," says Evan McKenzie, a political science professor at the University of Illinois at Chicago. "These are very hard to discover. They're practices in a bank that everyone knows they're doing. But it's not stated policy."
“There are many practices that lenders can engage in to accomplish the same thing as literal redlining," says Evan McKenzie, a political science professor at the University of Illinois at Chicago. "These are very hard to discover. They're practices in a bank that everyone knows they're doing. But it's not stated policy."
Friday, July 24, 2020
Will Trump Save the Suburbs By Cutting a Rule To Stop Discrimination? | realtor.com®
Will Trump Save the Suburbs By Cutting a Rule To Stop Discrimination? | realtor.com®
"Trump "is trying to win back the suburban vote by scaring them and claiming he is up against an opponent who wants to destroy the suburbs through racial and economic integration," says Evan McKenzie, a political science professor at the University of Illinois at Chicago. "He's invoking the idea of the suburbs of the past, that were uniformly white and prosperous."
"Trump "is trying to win back the suburban vote by scaring them and claiming he is up against an opponent who wants to destroy the suburbs through racial and economic integration," says Evan McKenzie, a political science professor at the University of Illinois at Chicago. "He's invoking the idea of the suburbs of the past, that were uniformly white and prosperous."
Sunday, July 19, 2020
What is the most private city in the world? | Cities | The Guardian
What is the most private city in the world? | Cities | The Guardian
"It is notoriously difficult to quantify and map the privatisation of space and place. Dubai, which must lay claim to being one of the most privatised cities in the world, is defined by its newness – and it is this newness which is generally an indicator of how private a place is likely to be. This is because today’s dominant economic model is reflected by high-security, privatised plazas which house shopping areas, conference centres and luxury apartments in an environment less reminiscent of the public realm than an airport lounge."
------------
This is from 2015, but it is fascinating.
"It is notoriously difficult to quantify and map the privatisation of space and place. Dubai, which must lay claim to being one of the most privatised cities in the world, is defined by its newness – and it is this newness which is generally an indicator of how private a place is likely to be. This is because today’s dominant economic model is reflected by high-security, privatised plazas which house shopping areas, conference centres and luxury apartments in an environment less reminiscent of the public realm than an airport lounge."
------------
This is from 2015, but it is fascinating.
Thursday, July 09, 2020
U.S. town creates local currency to boost coronavirus relief
U.S. town creates local currency to boost coronavirus relief
"Tucked away under lock and key in a former railroad depot turned small-town museum in the U.S. state of Washington, a wooden printing press cranked back to life to mint currency after nearly 90 dormant years. The end product: $25 wooden bills bearing the town's name - Tenino - with the words "COVID Relief" superimposed on the image of a bat and the Latin phrase "Habemus autem sub potestate" (We have it under control) printed in cursive. With the coronavirus pandemic plunging the United States into a recession, decimating small businesses and causing job losses across the country, some local governments are looking for innovative ways to help residents weather the storm. For Tenino, the answer was the revival of the local currency that had bolstered the town's economy in 1931 in the wake of the Great Depression."
-------------
"Tucked away under lock and key in a former railroad depot turned small-town museum in the U.S. state of Washington, a wooden printing press cranked back to life to mint currency after nearly 90 dormant years. The end product: $25 wooden bills bearing the town's name - Tenino - with the words "COVID Relief" superimposed on the image of a bat and the Latin phrase "Habemus autem sub potestate" (We have it under control) printed in cursive. With the coronavirus pandemic plunging the United States into a recession, decimating small businesses and causing job losses across the country, some local governments are looking for innovative ways to help residents weather the storm. For Tenino, the answer was the revival of the local currency that had bolstered the town's economy in 1931 in the wake of the Great Depression."
-------------
Wednesday, July 08, 2020
Real-estate developers refuse to change communities' plantation names
Real-estate developers refuse to change communities' plantation names
"Volusia and Flagler counties are home to several “plantation” communities. They include Halifax Plantation, Plantation Oaks of Ormond Beach and in Flagler, Sugar Mill Plantation and Plantation Bay. Flagler County is also home to Palm Coast Plantation as well as the Bulow Plantation manufactured home park. West Volusia is home to the DeBary Plantation golf course community. Developers of plantation communities in Volusia and Flagler counties said they were unaware of any public outcries locally to change the names of their developments. “It never even occurred to me that it was something that needed doing,” said Scott Vanacore of Vanacore Homes in Ormond Beach.
------------
Utterly clueless.
"Volusia and Flagler counties are home to several “plantation” communities. They include Halifax Plantation, Plantation Oaks of Ormond Beach and in Flagler, Sugar Mill Plantation and Plantation Bay. Flagler County is also home to Palm Coast Plantation as well as the Bulow Plantation manufactured home park. West Volusia is home to the DeBary Plantation golf course community. Developers of plantation communities in Volusia and Flagler counties said they were unaware of any public outcries locally to change the names of their developments. “It never even occurred to me that it was something that needed doing,” said Scott Vanacore of Vanacore Homes in Ormond Beach.
------------
Utterly clueless.
Tuesday, July 07, 2020
Inside the luxury nuclear bunker protecting the mega-rich from the apocalypse - CNET
Inside the luxury nuclear bunker protecting the mega-rich from the apocalypse - CNET
"A volcanic-ash scrubber, a decontamination room, a waterslide -- when it comes to surviving a nuclear apocalypse, the Survival Condo has everything you could need, at a price."
--------------
WTF is wrong with these people?
"A volcanic-ash scrubber, a decontamination room, a waterslide -- when it comes to surviving a nuclear apocalypse, the Survival Condo has everything you could need, at a price."
--------------
WTF is wrong with these people?
Monday, June 29, 2020
St. Louis couple pulls firearms on protesters cutting through their private street - CNN
St. Louis couple pulls firearms on protesters cutting through their private street - CNN
The private streets associations of St. Louis are early examples of HOAs. These two lawyers almost went full metal jacket on peaceful protesters who had the temerity to march down their private streets. The man of the house was interviewed about it and kept repeating "private property" over and over, as if they were magic words that entitled him to pull out his assault rifle.
The private streets associations of St. Louis are early examples of HOAs. These two lawyers almost went full metal jacket on peaceful protesters who had the temerity to march down their private streets. The man of the house was interviewed about it and kept repeating "private property" over and over, as if they were magic words that entitled him to pull out his assault rifle.
Wednesday, June 24, 2020
The £450 BILLION yacht: Concept for 200-yard-long mega-catamaran with a built in HARBOUR | Daily Mail Online
The £450 BILLION yacht: Concept for 200-yard-long mega-catamaran with a built in HARBOUR | Daily Mail Online
As wealth inequality explodes around the world, there is a class of super-rich people who live like villains in a James Bond movie. Their own private islands, yachts bigger than a football stadium, underground condo bunkers...sooner or later one of them will build a fortress inside a volcano.
As wealth inequality explodes around the world, there is a class of super-rich people who live like villains in a James Bond movie. Their own private islands, yachts bigger than a football stadium, underground condo bunkers...sooner or later one of them will build a fortress inside a volcano.
The arsenal in the hands of Wisconsin’s police - Wisconsin Examiner
The arsenal in the hands of Wisconsin’s police - Wisconsin Examiner
"[T]the 1033 Program has given Wisconsin law enforcement nearly 2,300 semi-automatic rifles, almost 200 .45 caliber pistols, an ACOG scope kit, 60 night vision sniper scopes and 42 mine resistant vehicles (commonly known as MRAPs). The MRAPs, carrying a sticker price between $495,000 and $733,000, were built to protect soldiers in Iraq and Afghanistan from improvised explosive devices, but now they sit in the garages of 39 police departments and sheriff’s offices around Wisconsin (Brown, Pierce and Polk Counties have each received two MRAPs through the program)...Most of the MRAPs, 29, are used by county sheriff’s offices, but the remaining 13 are in local police departments in cities as big as Eau Claire and Appleton or as small as Whitewater and Tomah. In Whitewater — a city with a population of 14,000 and a university with an undergraduate enrollment of 10,000 — there isn’t a dedicated grocery store. But in the city garage, the police have an MRAP."
-----------------
American policing is off the rails and everybody knows it except American police.
"[T]the 1033 Program has given Wisconsin law enforcement nearly 2,300 semi-automatic rifles, almost 200 .45 caliber pistols, an ACOG scope kit, 60 night vision sniper scopes and 42 mine resistant vehicles (commonly known as MRAPs). The MRAPs, carrying a sticker price between $495,000 and $733,000, were built to protect soldiers in Iraq and Afghanistan from improvised explosive devices, but now they sit in the garages of 39 police departments and sheriff’s offices around Wisconsin (Brown, Pierce and Polk Counties have each received two MRAPs through the program)...Most of the MRAPs, 29, are used by county sheriff’s offices, but the remaining 13 are in local police departments in cities as big as Eau Claire and Appleton or as small as Whitewater and Tomah. In Whitewater — a city with a population of 14,000 and a university with an undergraduate enrollment of 10,000 — there isn’t a dedicated grocery store. But in the city garage, the police have an MRAP."
-----------------
American policing is off the rails and everybody knows it except American police.
Saturday, June 20, 2020
The Pandemic is Making the Suburbs Even More Appealing - The Atlantic
The Pandemic is Making the Suburbs Even More Appealing - The Atlantic
"The pandemic will improve suburban life, perhaps in lasting ways."
-------------
Is the pandemic making suburban life more attractive? The big shutdown may change things permanently. If suburbanites can continue working from home, the agonizing car commute is no longer a factor. Lawns, outdoor grills, pools, parks, low density and low risk of infection--
"The pandemic will improve suburban life, perhaps in lasting ways."
-------------
Is the pandemic making suburban life more attractive? The big shutdown may change things permanently. If suburbanites can continue working from home, the agonizing car commute is no longer a factor. Lawns, outdoor grills, pools, parks, low density and low risk of infection--
Friday, June 19, 2020
How Racist Clauses in Housing Deeds Divided America | realtor.com®
How Racist Clauses in Housing Deeds Divided America | realtor.com®
"It's had a disastrous impact on African Americans," says Evan McKenzie, a political science professor at the University of Illinois at Chicago. "The symbolic statements that these covenants make is a national disgrace. It’s a legacy of shame.”
"It's had a disastrous impact on African Americans," says Evan McKenzie, a political science professor at the University of Illinois at Chicago. "The symbolic statements that these covenants make is a national disgrace. It’s a legacy of shame.”
Westchester County Family Says They Were Unfairly Targeted After Being Forced To Take Down Banner With MLK Quote – CBS New York
Westchester County Family Says They Were Unfairly Targeted After Being Forced To Take Down Banner With MLK Quote – CBS New York
"The banner reads, “Injustice anywhere is a threat to justice everywhere.” It used to hang over the Brown family’s bay window in Eastchester above several yard signs supporting the Black Lives Matter movement. “I had the big sign for a reason because this needs to be prominent. I want people to see this because this needs to stay in the forefront of everyone’s mind right now,” Avisia Brown said. The banner with the quote from Dr. Martin Luther King Jr. was up for nearly two weeks, the family says, until they happened to find a violation letter from the town in the dirt near their front steps."
-----------
The city should take a hard look at this decision, because they may run afoul of the US Supreme Court decision in Ladue v. Gilleo. Yard signs are protected by the First Amendment. There could be a legitimate "time, place, and manner" issue if the ordinance deals with size, placement, etc., rather than a total ban, but I think the city might be vulnerable to a First Amendment challenge.
"The banner reads, “Injustice anywhere is a threat to justice everywhere.” It used to hang over the Brown family’s bay window in Eastchester above several yard signs supporting the Black Lives Matter movement. “I had the big sign for a reason because this needs to be prominent. I want people to see this because this needs to stay in the forefront of everyone’s mind right now,” Avisia Brown said. The banner with the quote from Dr. Martin Luther King Jr. was up for nearly two weeks, the family says, until they happened to find a violation letter from the town in the dirt near their front steps."
-----------
The city should take a hard look at this decision, because they may run afoul of the US Supreme Court decision in Ladue v. Gilleo. Yard signs are protected by the First Amendment. There could be a legitimate "time, place, and manner" issue if the ordinance deals with size, placement, etc., rather than a total ban, but I think the city might be vulnerable to a First Amendment challenge.
Thursday, June 18, 2020
Coronavirus update: People flee cities to live in suburbs
Coronavirus update: People flee cities to live in suburbs
"If millennials once piled into the cities, fueling downtown renewal and growth, apparently they are now piling out. The stay-at-home orders brought on by coronavirus have more potential homebuyers looking for properties in the suburbs. Millennials are now the largest cohort of buyers. As the real estate market began to recover in May, home searches in suburban zip codes jumped 13%, according to realtor.com, one of the largest real estate listing websites. That doubled the pace of growth in urban areas...“This migration to the suburbs is not a new trend, but it has become more pronounced this spring,” said Javier Vivas, realtor.com director of economic research. “After several months of shelter-in-place orders, the desire to have more space and the potential for more people to work remotely are likely two of the factors contributing to the popularity of the burbs.”"
--------------
Several recent articles have said this is a trend. Time will tell, and so will progress toward a vaccine and treatments for COVID. But will there be lingering fears of dense urban life?
"If millennials once piled into the cities, fueling downtown renewal and growth, apparently they are now piling out. The stay-at-home orders brought on by coronavirus have more potential homebuyers looking for properties in the suburbs. Millennials are now the largest cohort of buyers. As the real estate market began to recover in May, home searches in suburban zip codes jumped 13%, according to realtor.com, one of the largest real estate listing websites. That doubled the pace of growth in urban areas...“This migration to the suburbs is not a new trend, but it has become more pronounced this spring,” said Javier Vivas, realtor.com director of economic research. “After several months of shelter-in-place orders, the desire to have more space and the potential for more people to work remotely are likely two of the factors contributing to the popularity of the burbs.”"
--------------
Several recent articles have said this is a trend. Time will tell, and so will progress toward a vaccine and treatments for COVID. But will there be lingering fears of dense urban life?
Tuesday, June 16, 2020
How Racist Clauses in Housing Deeds Divided America | realtor.com®
How Racist Clauses in Housing Deeds Divided America | realtor.com®
Detailed article on race restrictive covenants and the disastrous effects they have had on African-Americans. Includes quotes from me.
Detailed article on race restrictive covenants and the disastrous effects they have had on African-Americans. Includes quotes from me.
Monday, June 15, 2020
Tempers boil over as Democrats square off with Trump supporters at golf cart rally - Villages-News.com
Tempers boil over as Democrats square off with Trump supporters at golf cart rally - Villages-News.com
The Villages is a gigantic retirement community in Florida. Things got heated when anti-Trump demonstrators squared off against pro-Trump people in golf carts. Very heated.
The Villages is a gigantic retirement community in Florida. Things got heated when anti-Trump demonstrators squared off against pro-Trump people in golf carts. Very heated.
Luxury real estate demand surges in Aspen, Park City | Fox Business
Luxury real estate demand surges in Aspen, Park City | Fox Business
"“People have realized that you can work from home,” he said. “And the big question has become: where do you want to sequester with your family in the event that this ever happens again? And so I think people are looking for space and looking for areas where there’s a lot less density.”
-------------
Rich people have been seceding from America for a long time. Now COVID, civil disturbances, and the ability to work from anywhere are combining to accelerate that trend. Private communities are the option of choice for many of these folks.
"“People have realized that you can work from home,” he said. “And the big question has become: where do you want to sequester with your family in the event that this ever happens again? And so I think people are looking for space and looking for areas where there’s a lot less density.”
-------------
Rich people have been seceding from America for a long time. Now COVID, civil disturbances, and the ability to work from anywhere are combining to accelerate that trend. Private communities are the option of choice for many of these folks.
Friday, June 12, 2020
Illinois Articles – Community Associations Network
Illinois Articles – Community Associations Network
Associations in the Chicago area are trying to figure out how to handle many issues arising from the COVID pandemic that has hit Cook County harder than anywhere in the US outside the NYC metro area. There are some good articles here that address that.
Associations in the Chicago area are trying to figure out how to handle many issues arising from the COVID pandemic that has hit Cook County harder than anywhere in the US outside the NYC metro area. There are some good articles here that address that.
Tuesday, June 09, 2020
‘What Are We Going To Have Left In Our Community?’ Aldermen React with Panic, Sorrow to Unrest | Chicago News | WTTW
‘What Are We Going To Have Left In Our Community?’ Aldermen React with Panic, Sorrow to Unrest | Chicago News | WTTW
This phone conference with Mayor Lori Lightfoot and city council members apparently happened two days ago as of this writing, on June 3. It is pretty grim. There was looting all over Chicago and in a number of suburbs, including 30 miles away in Naperville. I live just outside the City of Chicago, in Oak Park. There was quite a bit of looting here. On the east side of Oak Park, which borders Chicago, several stores on Madison just east of Austin Blvd. are boarded up, as were a number of stores elsewhere in OP, including the Target way over on Harlem and even some stores in River Forest. But I think the looting and shooting have stopped.
This phone conference with Mayor Lori Lightfoot and city council members apparently happened two days ago as of this writing, on June 3. It is pretty grim. There was looting all over Chicago and in a number of suburbs, including 30 miles away in Naperville. I live just outside the City of Chicago, in Oak Park. There was quite a bit of looting here. On the east side of Oak Park, which borders Chicago, several stores on Madison just east of Austin Blvd. are boarded up, as were a number of stores elsewhere in OP, including the Target way over on Harlem and even some stores in River Forest. But I think the looting and shooting have stopped.
As U.S. Cities Crumble, Demand For Rural And Suburban Properties Is Soaring – End Of The American Dream
As U.S. Cities Crumble, Demand For Rural And Suburban Properties Is Soaring – End Of The American Dream
"The COVID-19 pandemic, a historic economic downturn and extremely violent riots in major cities all across America are fueling a sudden surge in interest in rural and suburban properties. This represents a major shift, because prior to 2020 we had seen a tremendous boom in real estate prices in large cities such as New York, San Francisco and Seattle."
"The COVID-19 pandemic, a historic economic downturn and extremely violent riots in major cities all across America are fueling a sudden surge in interest in rural and suburban properties. This represents a major shift, because prior to 2020 we had seen a tremendous boom in real estate prices in large cities such as New York, San Francisco and Seattle."
Thursday, June 04, 2020
Thursday, May 28, 2020
Which U.S. cities will best weather the pandemic? | Nuveen
Which U.S. cities will best weather the pandemic? | Nuveen
"Markets with a large exposure to newer non-cyclical industries such as information technology (San Jose), life science (Boston) and telecom (Dallas) are positioned to perform the best. Industries with a large exposure to cyclical industries such as tourism (New Orleans), hospitality (Las Vegas), energy (Oklahoma City) and retail (Miami) are positioned to perform the worst. The five most highly-ranked MSAs in our analysis are San Jose, Nashville, Raleigh, Washington, D.C. and Salt Lake City. In contrast, the five lowest-ranking are Detroit, Louisville, Buffalo, Oklahoma City and New Orleans."
"Markets with a large exposure to newer non-cyclical industries such as information technology (San Jose), life science (Boston) and telecom (Dallas) are positioned to perform the best. Industries with a large exposure to cyclical industries such as tourism (New Orleans), hospitality (Las Vegas), energy (Oklahoma City) and retail (Miami) are positioned to perform the worst. The five most highly-ranked MSAs in our analysis are San Jose, Nashville, Raleigh, Washington, D.C. and Salt Lake City. In contrast, the five lowest-ranking are Detroit, Louisville, Buffalo, Oklahoma City and New Orleans."
The Future is Public | Transnational Institute
The Future is Public | Transnational Institute
"Resistance to privatisation has turned into a powerful force for change. (Re)municipalisation refers to the reclaiming of public ownership of services as well as the creation of new public services. In recent years, our research has identified more than 1,400 successful (re)municipalisation cases involving more than 2,400 cities in 58 countries around the world."
-------
New report from the Transnational Institute about deprivatization.
"Resistance to privatisation has turned into a powerful force for change. (Re)municipalisation refers to the reclaiming of public ownership of services as well as the creation of new public services. In recent years, our research has identified more than 1,400 successful (re)municipalisation cases involving more than 2,400 cities in 58 countries around the world."
-------
New report from the Transnational Institute about deprivatization.
Chicago Condo DeConversions Coming Back
Chicago Condo DeConversions Coming Back
Thousands of affordable condo units have been turned into apartments by megabucks investment companies that are buying people out, getting 75% or 85% of the ownership interests, forcing the rest of the owners to sell, and "deconverting" the project.
Thousands of affordable condo units have been turned into apartments by megabucks investment companies that are buying people out, getting 75% or 85% of the ownership interests, forcing the rest of the owners to sell, and "deconverting" the project.
What homeowners associations should do when residents can’t pay during the pandemic - The Washington Post
What homeowners associations should do when residents can’t pay during the pandemic - The Washington Post
Unemployment is off the charts and, as in 2008, HOAs and condo associations are seeing more owners unable to pay their assessments. This article is about how to balance the association's need for revenue with the need to show some compassion and common sense.
Unemployment is off the charts and, as in 2008, HOAs and condo associations are seeing more owners unable to pay their assessments. This article is about how to balance the association's need for revenue with the need to show some compassion and common sense.
Subscribe to:
Posts (Atom)