A Whiter Shade of Pale

The Signal - Santa Clarita Valley News - Shades of beige: "Homeowner's associations have sprung up rapidly since 1970, said Evan McKenzie, an associate professor of political science at the University of Illinois at Chicago.

In 1960, there were fewer than 500 HOAs. Today, there are about 300,000, McKenzie said.

McKenzie said he could spend days talking about problems with HOAs, but one of the biggest is how residential governments have changed the cultural landscape by invading residents' personal space.

'Nobody wants to live under a nitpicky level of government,' McKenzie said. 'HOAs manage an aspect of peoples lives that have always been private.'"
----------
Thanks to Shu Bartholomew for locating this one. Where is Procol Harum when you need them? (I think my cultural reference may be lost on the younger set, but can I get an amen here?)

FT.com: US Public Pensions Face $2 Trillion Deficit | Benzinga.com

FT.com: US Public Pensions Face $2 Trillion Deficit | Benzinga.com: "Much like we were early citing the coming fiscal disaster that are state budgets [Dec 16, 2007: California in a State of Fiscal Emergency - Coming to a Theater Near You] so will be early to the disaster that is the US public pension system. As we clearly now see, there is no political will to make hard decisions that alienate any of the potential voting public. So, much like the state (and city) budget crisis, I expect the nation to continue to kick the can, doling out pensions we cannot afford to the public worker - until we run into a wall at 180 mph. And then your grandchildren will be asked to foot the bill 'in the public interest' or 'to keep the system stable' or 'this is what we promised'. And when the bill for Medicare comes due sometime later in the decade - perhaps when it starts eating up 20%+ of all US GDP - we'll hear the same thing. At some point there will be no extra sources to borrow from, so Federal Reserve Chief Geithner? Summers? will be printing new US pesos at a rate that makes Ben Bernanke's quantitative easing look like child's play. It's all the same pattern - played over and over, just in different future liability accounts."
-------------------
You can read the details of what is coming toward us at light speed.

U of Illinois President Ikenberry: ‘we may in fact have to do some layoffs’ | The Daily Illini

Ikenberry: ‘we may in fact have to do some layoffs’ | The Daily Illini: "DI: What is the worse case scenario for the University right now for the budget crisis? Will there be any consolidation or layoffs in any academic or administrative units?

SI: Yes, there will be."
-----------
Oh, yes. There will be. The state of Illinois is insolvent, and there has been no adult supervision for the state legislature, in the form of a sane and honest governor, since...who knows when...12 years? First the crook Ryan, then the crook and lunatic Blagojevich, and now the airhead do-gooder Quinn. The state is now in the process of destroying the University of Illinois system. And I am not exaggerating. The situation will be so bad in a few months that entire departments will be eliminated and faculty positions along with them. You can say what you want about rebuilding, but there is no chance of this state ever (in the remotely forseeable future) being able to get out from under its existing obligations to fund rebuilding of the U of I. To take only one crisis, the State of Illinois has systematically, over many years, underfunded its public pension plans in the amount of $80 billion dollars.

Eighty. Billion. Dollars.

And despite not making those payments, and despite not paying the U of I $400 billion dollars, and despite not paying doctors and social service agencies and despite ignoring crumbling infrastructure, and a host of other such bogus and shortsighted money-saving policies...the State of Illinois is running a budget deficit this year of $13 billion.

So, once this system is reduced to a shadow of itself, which will have happened by a year from now, there will never be the resources to restore it. It would take a national economic boom the likes of which this country hasn't seen since 1946. And even if there were such a time (which I think would be possible to envision only after smoking a big fat bag of crack), the U of I's reputation will have been wrecked in the academic hiring market forever. If you were a first-rate job candidate, and you were on the market a few years from now, would you go to a university that has just gone through radical downsizing of departments and now promises that, don't worry, your job is safe?

Here's the irony--our tuition revenues are up, and our enrollments are up, and to all appearances the institution is thriving, as long as you don't know about the fiscal nightmare that is unfolding.

Libertarian paradise emerging in post-earthquake Haiti

Lynch mobs turn on looters amid Haiti aid crisis - Times Online: "Six days after the Port-au-Prince earthquake large areas of the city remain untouched by the global aid effort as bottlenecks continue to clog the airport and looting threatens to descend into wholesale violence."
----------
I would be interested in hearing the libertarian perspective on why, when Haiti's government collapsed along with the government buildings, people didn't immediately begin ordering their affairs with voluntary and efficient contracts. Instead, with no government and a long delay before external aid appears, Haiti is offering a good look at Thomas Hobbes' vision of life in a state of nature: "solitary, poor, nasty, brutish, and short."

This is also a good lesson for the survivalist wingnuts who can't wait for the the US to collapse so they can grab their bugout bag and a .223 and machete-hack their way through the marauding gangs to a patch of open land where they will set up a homestead and live off venison and home grown mung beans. Good luck with that.

Foreclosure Expert: The Worst is Yet to Come - Foreclosure filings reach nearly 3 million in 2009, record high | foreclosure, shutters, million - Local News - The Star Online : The Newspaper of Cleveland County

Foreclosure Expert: The Worst is Yet to Come - Foreclosure filings reach nearly 3 million in 2009, record high | foreclosure, shutters, million - Local News - The Star Online : The Newspaper of Cleveland County: "Some of those mortgages are simply walking away from homes because the outstanding principal on the mortgage is higher than the home’s value. Adding to the problem are mortgage companies, which also walk away from homes because of back taxes, lawyers’ fees and homeowners’ association fees.
“The problem is working its way up in income levels,” said Gardner.
Overall, he expects the number of foreclosures to increase at least until 2012 as they extend into wealthier neighborhoods, targetting professionals such as doctors, accountants and lawyers, he said.
And because of that Gardner has a simple message for consumers: The worst is yet to come."
-----------
I think he's right. Thanks to Fred Pilot for this depressing but true perspective.

Columbia Association cuts gym towels from budget - baltimoresun.com

Columbia Association cuts gym towels from budget - baltimoresun.com: "Members of the Columbia Association's three gyms can wave their free towels goodbye starting Nov. 1, the result of an austere budget proposed for the next two years that would also reduce employee pay raises but leave residents' property lien fees unchanged"
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The horror. The horror.
Thanks to Fred Pilot for this sign of the apocalypse.

Joe Biden update: He meets on transparency today. But the meeting is closed | Top of the Ticket | Los Angeles Times

Joe Biden update: He meets on transparency today. But the meeting is closed | Top of the Ticket | Los Angeles Times
Between Obama's people singing the praises of Guantanamo (maybe a future condo for Haitian refugees?) and Biden morphing into Dick Cheney with secret transparency meetings, the Irony Meter is headed for the red line.

For my part, I wish I were blogging from an undisclosed location. However, I am at home. Full disclosure.

FOXNews.com - U.S. Preparing for Potential New Wave of Haitians Fleeing North

FOXNews.com - U.S. Preparing for Potential New Wave of Haitians Fleeing North: "A top military official told reporters on Thursday that his department is hoping to prevent a mass exodus of Haitians by working 'very aggressively' to 'mitigate their tragedy,' particularly through major relief efforts.

'We've got a lot of work to do, and we're securing and getting those relief efforts in there,' said Gen. Douglas Fraser, commander of U.S. Southern Command. 'That's what we're going to continue to do, and that's the best way we can reduce the aspect of people wanting to leave the island.'

If those efforts fail and Haitians do try to flee, several 'options are on the table,' one official said.

Among the options being considered is use of part of the U.S. naval base at Guantanamo Bay, Cuba."
------------------
oh, the irony. Obama has been screaming about closing Gitmo for two years. And now...maybe it comes in handy for him. If they can't use Gitmo, they either turn back these poor people to anarchy, dysentery, and possible starvation...or let them move to Miami.

HOA demand restrictions in federal buyout

The Galveston County Daily News: "GALVESTON — Some West End homeowners, worried about the city’s plans for beach-front properties acquired through a federal buyout program, want the city to restrict what it does with the newly public land in their neighborhoods. As part of its agreement to buy 64 hurricane-damaged houses under the Hazard Mitigation Grant Program, the city asked those property owners to obtain releases from the homeowners associations so the city wouldn’t have to pay association fees or follow deed restrictions. Homeowners associations typically have some legal authority through deed covenants over how property is used. However, some homeowners associations are refusing to release the properties until the city agrees to leave the land as open space, City Attorney Susie Green said.

Although the federal government allows it, neighbors don’t want the city to transform the properties into camping sites, public bathrooms or unpaved parking lots, she said."
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And of course the city council isn't interested in being dictated to by a bunch of HOA directors. Thanks to Bill Davis for this fascinating story.

Internet Argument Techniques | Cracked.com

Internet Argument Techniques | Cracked.com
If you can find anything funnier than this, please tell me what it is.

Obama staffer wants ‘cognitive infiltration’ of 9/11 conspiracy groups | Raw Story

Obama staffer wants ‘cognitive infiltration’ of 9/11 conspiracy groups | Raw Story: "In a 2008 academic paper, President Barack Obama's appointee to head the Office of Information and Regulatory Affairs advocated 'cognitive infiltration' of groups that advocate 'conspiracy theories' like the ones surrounding 9/11."
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Coming to a blog near you?

Coakley cites GOP ‘stalkers’ in D.C. dust-up - BostonHerald.com

Coakley cites GOP ‘stalkers’ in D.C. dust-up - BostonHerald.com: "Bay State Attorney General Martha Coakley blamed GOP “stalkers” today for triggering tensions outside a Washington, D.C., fund-raiser last night where a Weekly Standard reporter said he was roughed up by a Coakley campaign volunteer."
-------
Great spin by the Boston Herald. Her (Democrat) staffer shoves a reporter to the ground. What's the headline? It's the fault of the Republican Party. That's what the (Democrat) candidate says, so that's the angle.

Cash for saving energy? California considers this and first statewide green building code - Green House - USATODAY.com

Cash for saving energy? California considers this and first statewide green building code - Green House - USATODAY.com: "California, long a trendsetter for eco-friendly living, is breaking ground again this week. It's set, as early as today, to adopt the nation's first statewide green building code, which environmentalists say is not tough enough, and is also considering paying residents to cut their energy use."
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California is indeed a trend setter. If the trend is going broke. And now they are adding yet more government-imposed limitations on the construction industry in the middle of the worst housing market collapse in 70 years.

5 Cities Where Homes Aren't Selling - Yahoo! Real Estate

5 Cities Where Homes Aren't Selling - Yahoo! Real Estate
Las Vegas, Phoenix, Tampa, Miami, and...where else? Motown. This is based on decline in prices and time on market. All these places except Detroit are CID Central.
Thanks to Fred Fischer for this link.

California Creditors Dread IOUs With Aid Plea Failing (Update3) - Bloomberg.com

California Creditors Dread IOUs With Aid Plea Failing (Update3) - Bloomberg.com: "California’s hopes are fading for federal help in closing a projected $19.9 billion deficit that has caused the lowest-rated state’s borrowing costs to rise 24 percent since September.

“We recognize they have enormous problems,” David Axelrod, senior adviser to President Barack Obama, said in an interview. “But we can’t solve all of those problems from Washington.”"
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Yes. And there isn't any cavalry riding to the rescue of California, Illinois, New York, New Jersey, Michigan, or any other insolvent state. Thanks to Fred Pilot for the update.

HOA Wants Police Precinct - Detroit Local News Story - WDIV Detroit

Neighborhood Wants Police Precinct - Detroit Local News Story - WDIV Detroit: "Residents in the Jefferson-Chalmers area said they deal with break-ins and gunshots daily.

'We need a police station in our area, that would help. That's the first step,' said resident James Jackson.

The Jefferson-Chalmers Homeowners Association is pushing for its own police precinct, which residents said will hopefully stand right in the heart of the neighborhood"
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Thanks to Fred Pilot for this story about an HOA that is turning to local government for help. They are leveraging their organizational capacities and numbers. But all the libertarians tell us that HOAs are better than cities. Go figure.

Rotten stinking foreclosure in Galvestion

The Galveston County Daily News: "GALVESTON — A West End property owner is suing Bank of America Corp., asserting its agents mistakenly seized a vacation house he owns free and clear, then changed the locks and shut the power off, resulting in the smelly spoiling of about 75 pounds of salmon and halibut from an Alaska fishing trip and other damages."
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Another grabby bank. Not yours.

White House opens door to money talks with financially strapped states | D.C. Now | Los Angeles Times

White House opens door to money talks with financially strapped states | D.C. Now | Los Angeles Times: "Facing criticism about how healthcare overhaul will hurt already financially strapped states, the White House today left the door open for working with state leaders to deal with their problems.

California Gov. Arnold Schwarzenegger has been leading the charge to get more federal funds for his state, hoping to fill a $19.9-billion hole. The governor argues that California should get $6.9 billion from the federal government."
-------------
It seems that some governors are ticked off that Nebraska got a big pot of Medicare money as part of Obama, Inc., buying Nebraska Senator Ben Nelson's vote. Now the White House is willing to "talk" about doing the same for everybody else. And if they give money to California, don't they have to copy that all around as well? There are 50 of these little hungry mouths to feed, and 2/3 of them are in rocky financial shape.

Thanks to Fred Pilot for this LA Times link.

Neighborly ties survive even when HOAs rule

Neighborly ties survive even when HOAs rule: "John Kolodziej did not care if his neighborhood had a homeowners association when he moved to Glendale's 80th Lane more than a decade ago.

But now he is glad that his neighbors dropped their restrictions and let the HOA die. He finds them to be more neighborly."
--------------
But the article claims a study shows associations don't kill the sense of community.

State of the states? Broke and going broker

State of the states? Broke and going broker: "As of December, the National Conference of State Legislatures fiscal survey found: “Thirty-six states already report another round of gaps since FY 2010 began. The total now hit $28.2 billion, and the fiscal year for most states doesn’t end until June.” They already are in the hole despite raising taxes, cutting spending, squandering “rainy day” funds and using federal debt and accounting tricks to close $146 billion in cumulative budget gaps.

Those shortfalls pale against the lurid reality of unfunded promises to retirees, deferred public works projects and years of accounting tricks hiding true deficits.

Compounding all that is the fact that $248 billion in federal American Recovery and Reinvestment Act funds stop Dec. 31, halfway through most states’ fiscal years."
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Remember how the housing market was obviously going to crash, and a few people were predicting it but the mainstream media didn't bother to cover it until it happened? Well, now a few people are saying that most of the states are in major financial trouble. And what do the media giants have to say about it? Very little. They talk about their own states finances, but not the bigger picture, which is that most of the state governments will have to radically raise taxes or radically cut spending in the next 12 months.

Foreclosure filings on a roll in coastal North Carolina | StarNewsOnline.com | Star News | Wilmington, NC

Foreclosure filings on a roll in coastal North Carolina | StarNewsOnline.com | Star News | Wilmington, NC: "Figures from the N.C. Administrative Office of the Courts compiled by the N.C. Justice Center show foreclosure filings last year rose in 67 of North Carolina’s 100 counties, reaching a record of 63,341."
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Thanks to Cynthia Stephens for this link.

The Volokh Conspiracy » Blog Archive » Underfunded Public Pensions as “Stranded” Costs? Two Trillion Dollars?

The Volokh Conspiracy » Blog Archive » Underfunded Public Pensions as “Stranded” Costs? Two Trillion Dollars?: "Two trillion dollars? One question about these obligations is whether taxpayers will stick around to pay them, or instead will vote with their feet. (“Vote with their feet” is something that has been discussed in various ways at VC — as an aspect of a federal system and states with their own laws.) Many of these pension obligations have been incurred by municipalities and others by states, and in some cases the obligations are intertwined. But what happens if voters-taxpayers move out?"
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What, indeed?

Matthew Yglesias » The Looming Public Pension Disaster

Matthew Yglesias » The Looming Public Pension Disaster: "High up on my list of sources of national doom that people don’t talk about enough is the looming fiasco in pensions for state and local public employees. For obvious reasons, no governor or mayor wants to raise taxes or cut spending to give public employees a raise. But a public employee strike is also bad politics. So you can promise people generous amounts of money in the future via a defined benefit pension plan, and kick the can down the road."
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This is going to be a train wreck.

The Way We Live Now - Walk Away From Your Mortgage! - NYTimes.com

The Way We Live Now - Walk Away From Your Mortgage! - NYTimes.com: "Time was, Americans would do anything to pay their mortgage — forgo a new car or a vacation, even put a younger family member to work. But the housing collapse left 10.7 million families owing more than their homes are worth. So some of them are making a calculated decision to hang onto their money and let their homes go. Is this irresponsible?"
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You be the judge.

Mesa offers classes on how to run, live in HOAs

Mesa offers classes on how to run, live in HOAs: "THIS IS THE CITY'S CONCERN?

Yes. Mesa keeps track of homeowners associations in the city and currently has 412 of them on file. The Neighborhood Services Department regularly works to connect them with city resources and help them deal with their particular challenges."
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Six sessions at ten bucks each, and Nirvana is just around the corner.

Let that process server in!

Condo Law: "In this time of increasing foreclosure lawsuits, many communities are likely to see a new visitor at their gates-the process server!"
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So no call-aheads from the front gate so the deadbeat can flee.

Fannie Mae Launches 'Special Approval' Designation to Support Florida Condo Market

Fannie Mae Launches 'Special Approval' Designation to Support Florida Condo Market: "Fannie Mae (NYSE: FNM) announced today that it is undertaking a comprehensive review of hundreds of condominium projects in the state of Florida in an effort to allow additional projects to become Fannie Mae-eligible through a new 'Special Approval' designation."
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That's because Fannie Mae killed the Miami condo market when they stiffened up their eligibility requirements a while back. Now they are going to discover all sorts of exceptions that allow these sales to go through. Then lots of people who have no job will be able to buy condos--just like before summer of 2008! Won't that be great! Just kidding. The US government would never do a thing like that.

State Bar Persecution of 70 yr old Jailed Attorney Richard Fine: Full Disclosure Network(R) TV Series -- WASHINGTON, Jan. 7 /PRNewswire-USNewswire/ --

State Bar Persecution of 70 yr old Jailed Attorney Richard Fine: Full Disclosure Network(R) TV Series -- WASHINGTON, Jan. 7 /PRNewswire-USNewswire/ --
This is a press release about what appears to be a nasty situation--I don't know who did what to whom, but it looks ugly.

Somali Pirates Diversify Activities With Savvy Real Estate Investments - Somali pirates - io9

Somali Pirates Diversify Activities With Savvy Real Estate Investments - Somali pirates - io9
Kenya is their favorite country for investment purposes.

Awesome economic recovery rockets ahead

AP: 2009 bankruptcies total 1.4 million, up 32 pct - Yahoo! News

2010 Furlough Announcement

2010 Furlough Announcement
The University of Illinois has told us that all administrators and faculty are now being furloughed. Four days without pay.

In the press, it is business as usual. Will Lovie Smith be fired as coach of the Bears? Rod Blagojevich will be on Donald Trump's show! But while the press and the sheeple go about their business, the State of Illinois is following Michigan and California into the fiscal toilet. The state isn't paying doctors. It isn't even sending agencies like the U of I the funds the legislature appropriated for them. The state is tens of billions in arrears to the state employee pension funds.

As the President of the U of I says:
"...we now face a cash crisis
triggered by the state’s financial situation which is grim
and worsening. The state budget is out of balance with a
backlog of unpaid bills nearing $5 billion and short-term
borrowing covering roughly a comparable amount. The
state’s credit rating has been recently downgraded and
among the 50 states only California is worse."


Only California is worse. But with the government we have here in Illinois, no doubt we can plunge below the Golden State in short order.

Vegas Court Shooter Johnny Lee Wicks Set Condo on Fire Before Deadly Attack - ABC News

Vegas Court Shooter Johnny Lee Wicks Set Condo on Fire Before Deadly Attack - ABC News: "Friends and family told ABC News that Johnny Lee Wicks, 66, was so upset that his monthly Social Security check was being reduced that he set fire to his home in a gated retirement community around 5 a.m. Monday."
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Then he went to the courthouse with a shotgun and opened fire.

Change of Subject: Time to get serious about prison terms

Change of Subject: Time to get serious about prison terms
In which reliably liberal columnist Eric Zorn finally figures out what prisons are for. He has spent more ink crusading against prosecutors and police than anybody on the Tribune staff--but the Derrick King case (see below) set him off.

Chicago justice system--a farce in action

LiveLeak.com - VIOLENT ATTACK SHATTERS LIVES,but attacker released early
Here is the Chicago "justice" system in action. In August 2008, Derrick King, a homeless piece of garbage living at the Pacific Garden Mission (1458 S. Canal St., Chicago) and his bum companion, Joyce Burgess, demanded cigarettes from a couple leaving a convenience store at Wabash and Roosevelt in downtown Chicago. The couple turned them down. King and Burgess attacked them. King kicked out most of her teeth and left her with brain damage. Read the details if you can stand it. She will never fully recover, physically or emotionally.

His sentence? Three years in prison for robbery. Apparently these two maggots stole a Blackberry after the attack. The sentence is a joke to begin with. It should have been more like 30 years instead of three. That is the Chicago judiciary for you.

But it gets worse. Our liberal Democrat, soft-touch, nice-guy governor, Pat Quinn, authorized an early release program called the "Meritorious Good Time Program" for 1700 convicts. King was one of them. He spent 13 months in the Cook County Jail while his case dragged on in the Chicago court system. Then he copped a plea, went into prison to start his 3 year joke sentence on October 6, 2009, and was released on October 20, 2009, two weeks later. Quinn and his flacks claim that no violent offenders were released under this program. Right. Keep lying.

But it gets even worse. The day King was released, October 20, 2009, he did the same thing again. He accosted a woman, demanded cigarettes, was told no, and then attacked her, saying, "Remember the couple who got beat real bad for not giving a cigarette? That was me!"

He's back in jail again.

There are violent, angry homeless people demanding money all around the Chicago downtown area. They know the system is a big farce and are not the least bit afraid of it. Why should they be? Yet we can't carry guns or any other significant weapon to protect ourselves from them.

World freezes into a popsicle as global warming proceeds apace

As Britain told to expect snow for 'next 10 days', how is the rest of the world is coping with this Arctic weather? | Mail Online: "...as Britain struggles to cope with the freezing weather conditions, other countries throughout the world are also finding themselves in the same predicament."
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This weekend it was about zero to 5 above in the morning here in Lake County, IL. On Friday and Saturday we just froze all day but yesterday it warmed up to 15 or so. Can we have some global warming, please?

Mortgage Modifications Are Seen as Adding to Housing Woes - NYTimes.com

Mortgage Modifications Are Seen as Adding to Housing Woes - NYTimes.com: "The Obama administration’s $75 billion program to protect homeowners from foreclosure has been widely pronounced a disappointment, and some economists and real estate experts now contend it has done more harm than good."
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The housing and financial markets collapsed because millions of people bought homes they couldn't afford. Obama & Co. decided the fix for that was to keep people in homes they couldn't afford for a few months longer. It was never a fix to begin with. It was just delaying the inevitable, which in turn is prolonging the recession that Obama & Co. say is over.

SSRN-Terms of Use by Mark Lemley

SSRN-Terms of Use by Mark Lemley: "Ten years ago, courts required affirmative evidence of agreement to form a contract. No court had enforced a shrinkwrap license, much less treated a unilateral statement of preferences as a binding agreement. Today, by contrast, it seems widely (though not universally) accepted that if you write a document and call it a contract, courts will enforce it as a contract even if no one agrees to it."
-----
New law review article that talks about the increasing use of standardized adhesion "contracts."

Home prices are flat for second month in a row -- latimes.com

Home prices are flat for second month in a row -- latimes.com: "Home prices were flat for the second month in a row, according to a closely watched national index, indicating that the nascent housing recovery may be losing some steam. Brisk sales fueled by low interest rates, inexpensive properties and a popular tax credit for first-time buyers helped bolster home prices this summer. Now many experts expect some of that activity to slow down."
--------------
In other words, the "nascent housing recovery" never existed. Banks have been dumping their foreclosed properties and the feds are keeping interest rates very low and handing out borrowed money. That isn't a recovery.

New Restrictions Quickly Added for Air Passengers - NYTimes.com

New Restrictions Quickly Added for Air Passengers - NYTimes.com: "The government was vague about the steps it was taking, saying that it wanted the security experience to be “unpredictable” and that passengers would not find the same measures at every airport — a prospect that may upset airlines and travelers alike."
---------------
The man who did this was so obviously dangerous that his own father had warned the US Embassy about him. He was on a list of people known to have terrorist connections. He had been going to places like Yemen, where the bomb was built by some Al Qaeda maniac (so the stories say at this point). But he had a US visa and hopped on a plane that was to land in Detroit--except that he tried to blow it up with explosives in his underwear.

So--what does the government learn from this huge security failure? Don't let anybody get out of their seat or hold anything in their lap for the last hour of the flight.

This nation is being run by idiots. No other conclusion is possible.

biggest-losers-where-americans-are-not-moving: Personal Finance News from Yahoo! Finance

biggest-losers-where-americans-are-not-moving: Personal Finance News from Yahoo! Finance
Biggest population loser: California, followed by New York, Michigan, Illinois, and Ohio.

The War Over California - Ross Douthat Blog - NYTimes.com

The War Over California - Ross Douthat Blog - NYTimes.com: "The argument about what went wrong with California is really an argument about the future of America. To the right, the Golden State’s ongoing crisis is a case study in liberal failure: A big-spending state that lived far beyond its means, and let its public-policy priorities be dictated by the appetites of liberal interest groups instead of the common good. To the left, it’s a case study in how a malign nexus of conservative intransigence and institutional sclerosis can thwart good governance. The problem in California isn’t the spending, liberals argue: It’s the supermajority requirements that prevent a liberal majority from raising the taxes necessary to pay for it."
-----------------
Why do people think California is the only state going under? Illinois isn't far behind California. Neither are New Jersey, New York, Michigan, Ohio, and a few others. If you take them all together, I think some common factors are obvious:

1. Federal unfunded mandates in education, health, and other social services can be devastating to state and local governments that have to serve a large low-income population.
2. States with powerful public employee unions have been forced into assuming crippling pension and health care burdens.
3. The major sources of revenue relied upon by state and local governments are political dynamite. Property taxation has been a source of voter revolt for 30 years. Sales tax increases drive business elsewhere and in any event these revenues decline in recession. And just begin the conversation about increasing state income tax and watch the fireworks.
4. And the neat little privatization and special district gimmicks that state and local governments have been using--CIDs, TIFs, SIDS, SADS, BIDs, etc.--are proving to be short term wonders and long term problems.

The recession made things worse, but a whole lot of states were already in big, big structural trouble.

Recession Slows Growth of Population in Sun Belt - NYTimes.com

Recession Slows Growth of Population in Sun Belt - NYTimes.com: "States in the South and the West that grew by exceptional leaps and bounds during the real estate boom of just a few years ago are now experiencing sharply slower growth in population, the Census Bureau said Wednesday."
-------------
May as well stay put here in the snow belt, says I.

Seven-year-old caught ploughing in Germany - Yahoo! News

Seven-year-old caught ploughing in Germany - Yahoo! News: "BERLIN (AFP) – A seven-year-old boy was stopped by police in northern Germany while trying to plough snow with a front loader he borrowed from his parents' business, authorities said."
-------------------
See what happens when you try to take a little initiative?

Ancient Homeowner Association Rules | Arts & Culture | Smithsonian Magazine

Ancient Homeowner Association Rules | Arts & Culture | Smithsonian Magazine: "In the interests of achieving a pleasing harmony and a clene appearance for the community, the colour of the exterior of each abode shall not be changed without leve. If leve be granted, the abode may then be peynted only with one of the following colours: riverbed clay grey, cow dung brown or farm field burnt umber."
---------
Thanks to Shu for locating this fascinating piece of ancient urban archaeology.

State can no longer leave colleges in 'crisis mode' :: CHICAGO SUN-TIMES :: Commentary

State can no longer leave colleges in 'crisis mode' :: CHICAGO SUN-TIMES :: Commentary: "Here are some of the numbers: The state is in arrears $445 million to the University of Illinois system, $125 million to Southern Illinois University, $37 million to Northern Illinois University and $28 million to Western Illinois University. The state's other universities are in similar straits.

As a short-term solution, the universities have imposed hiring freezes, used up reserves and delayed paying vendors. They are considering furloughs and layoffs. At WIU, President Al Goldfarb said the school has even postponed repairing an elevator in the university's library to help save enough money to meet the payroll.

'All of the state's universities are in crisis mode right now,' said SIU President Glenn Poshard."
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I keep hearing all this Obama/Democratic Party rhetoric about how the recession is over and the recovery is under way. This is just one example of many institutions in this society that are in an untenable position. It isn't a temporary thing. It is a structural thing. And the same can be said of many, many cities and counties and even states.

School Board sues lawmaker over rent :: CHICAGO SUN-TIMES :: Education

School Board sues lawmaker over rent :: CHICAGO SUN-TIMES :: Education: "State Rep. Monique Davis (D-Chicago) has been occupying a rent-free Chicago Board of Education building for seven years and owes more than $500,000 in rent, leaseholder taxes and penalties on it, a new report by the schools inspector general indicated Monday."
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What a surprise to see that "(D-Chicago)" thing after her name.

Small-business bankruptcies rise 81% in California -- latimes.com

Small-business bankruptcies rise 81% in California -- latimes.com: "As credit lines have shrunk and consumers have cut back on spending, thousands of small businesses have closed their doors over the last year. The plight of struggling firms has been aggravated by the reluctance of banks to lend money, said Brian Headd, an economist at the Small Business Administration's office of advocacy.

'While bankruptcies are up, overall, small-business closures are up even more,' Headd said."
-----------------
But this article starts off with the party line about how the rest of the economy is "stabilizing." I just don't see it. Government budgets at all levels are in terrible shape. The stimulus created a small improvement in unemployment, but when that wears off, what then? You can't get the economy going by borrowing money from the Chinese to fix potholes.

Left To Die: Did Off-Duty NYC EMTs Refuse To Help? - wcbstv.com

Left To Die: Did Off-Duty NYC EMTs Refuse To Help? - wcbstv.com: "Dead is 25-year-old Eutisha Rennix, who was six months pregnant. She was a cashier at a bakery in downtown Brooklyn, near the fire department's headquarters. The victim's family said Eutisha Rennix suffered shortness of breath and collapsed with two off-duty EMTs in the store buying breakfast. 'After she collapsed they asked for help. They were told, call it in … because they were on a break. They got their bagels and coffee and left,' Cynthia Rennix said."
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Your stimulus package dollars at work.

Las Vegas Woman Victim of Foreclosure Mistake - Las Vegas Now

Las Vegas Woman Victim of Foreclosure Mistake - Las Vegas Now: "As Mauck walks around her now empty condo, she can't help but remember how things used to look. Every room in the home is empty and Mauck says the reason is a mistake of address numbers. Her address is 1157, which is close to 1156, a condo that is in foreclosure."
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They "trashed out" the wrong condo--meaning "the Brenkus Team of Keller and Williams Realty" threw away every single thing she owned. And now of course they are disputing her claim concerning how much they owe her, and won't talk to the press about it.

10 Housing Markets Where Prices Have Gone Up - Yahoo! Real Estate

10 Housing Markets Where Prices Have Gone Up - Yahoo! Real Estate: "The ten metro areas that enjoyed the greatest home-price increases over the past year (through June 30, 2009) largely missed the housing boom and didn't indulge in subprime-lending excesses.

With no boom, these cities had no need to bust. Instead, their housing markets have plugged along at 4% annual price appreciation, below the national average of 6% annually between 1968 and 2008, according to the National Association of Realtors. Most of these areas are relatively small, with populations less than 200,000."
----------------
Texarkana, here I come. Not.

Sacramento's fast-tracking of projects hits snag - Sacramento News - Local and Breaking Sacramento News | Sacramento Bee

Sacramento's fast-tracking of projects hits snag - Sacramento News - Local and Breaking Sacramento News | Sacramento Bee: "Underfunded cities and counties have struggled to keep up with demand for residential and commercial inspections and plan reviews. And owners of large projects have long chafed at too much oversight and burdensome delays.

That conflict helped produce the city's fast-track program. And while the idea of green-lighting some makeovers with only verbal authority alarmed some people, the plan's backers said the program did not compromise public safety or work quality."
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Oh, no. Of course not. Perish the thought.

A power struggle in Carson -- latimes.com

A power struggle in Carson -- latimes.com: "Southern California churns with homeowner association disputes, but the one that has consumed a sprawling complex of town homes in Carson is in a whole different stratosphere -- disputed elections, a city official threatened with arrest and armed guards stationed at the association headquarters. Even the Boys and Girls Club got caught in the middle."
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Thanks to Fred Pilot for this link to another example of HOA dysfunction.

Top 7 insane homeowners association rules - THE WEEK

Top 7 insane homeowners association rules - THE WEEK
You know HOA madness has made the big time when you start getting lists like this. Thanks to Fred Pilot for the link.

And once again--has the industry begun to get the picture yet? Let me spell it out: you have lost the public relations war.

Jack Lalanne recovering after surgery

WBBM 780 - Chicago's #1 source for local news, traffic and weather - Jack Lalanne recovering after surgery: "Fitness pioneer Jack LaLanne is recovering from heart valve surgery at his home in Morro Bay.

LaLanne's publicist, Ariel Hankin, said Tuesday that the 95-year-old underwent the procedure at a Los Angeles hospital on Dec. 8.

Hankin says that before the surgery LaLanne told his family, 'I can't die, it would wreck my image.'

The weightlifting guru is doing fine and expected to make a full recovery."
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Go, Jack. You're good for another 95 years now.

10 Real Houses Inspired by Cartoons - Oddee.com

10 Real Houses Inspired by Cartoons - Oddee.com
I want the hobbit house. And note that none of these could have been built with an HOA around.

Man accused of choking neighbor over Christmas lights - NBC-2.com WBBH News for Fort Myers, Cape Coral & Naples, Florida

Man accused of choking neighbor over Christmas lights - NBC-2.com WBBH News for Fort Myers, Cape Coral & Naples, Florida: "BOKEELIA: The president of a local homeowners association says he was choked by one of his neighbors after a disagreement over Christmas lights Monday. Lee County sheriff's deputies responded to 16958 Captains Drive after 67-year-old Robert Dale Burkett reported that he'd been assaulted. Burkett says he told the neighbor, who has not been named, that he and his wife weren't following the rules regarding Christmas lights."
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As Bing Crosby sang, "I'm dreaming of...CHOKING MY HOA PRESIDENT!!"

Thanks to Fred Pilot. Ho ho ho.

Old race restrictive covenant surfaces

NAACP: Homeowners group discriminatory - UPI.com: "The state and local NAACP filed a complaint in 2007 with the Charlotte-Mecklenburg Community Relations Committee for posting a sample deed that contained an almost-100-year-old clause stating that 'people of the Caucasian race only' could own or live in a Myers Park house, the Charlotte Observer reported Tuesday."
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These old covenants are still around. From the 1880s to the 1940s they were commonplace, so plenty of old associations have them, even though they have been unenforceable since 1948. Thanks to Fred Pilot for the link.

FOXNews.com - Not So Private Property?: Clean Water Restoration Act Raises Fears of Land Grab

FOXNews.com - Not So Private Property?: Clean Water Restoration Act Raises Fears of Land Grab: "The Clean Water Restoration Act currently pending in the U.S. Senate could reach to control even a 'seasonal puddle' on private property.

Eleven senators and 17 representatives in the U.S. House have sent a letter to Majority Leader Harry Reid and Speaker Nancy Pelosi blasting the measure as one of the boldest property grab attempts of all time.

This bill is described by opponents as a sweeping overhaul of the Clean Water Act that could threaten both physical land and jobs by wiping out some farmers entirely."
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The EPA has jurisdiction over "navigable" waters. This bill removes the word "navigable." You know that puddle in your back yard?

D.C. vouchers on life support - washingtonpost.com

D.C. vouchers on life support - washingtonpost.com: "IT IS DISTRESSINGLY clear that congressional leaders never really meant it when they said there would be a fair hearing to determine the future of the District's federally funded school voucher program. How else to explain language tucked away in the mammoth omnibus spending bill that would effectively kill the Washington Opportunity Scholarship Program?"
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The teachers unions are the only critics of this program. And Dick Durbin (Ambulance Chaser-IL) is probably the Senator who let this happen.

Canada freezes as snow storm strands thousands - ABC News (Australian Broadcasting Corporation)

Canada freezes as snow storm strands thousands - ABC News (Australian Broadcasting Corporation): "People in the north-central part of the Canadian province of Ontario are digging out after one of the worst snow storms on record.

Some areas north of Toronto received as much as 100 centimetres of snow over the past three days."
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Global warming strikes again.

U.S. To Pay $3.4 Billion to Settle Native American Suit - Law Blog - WSJ

U.S. To Pay $3.4 Billion to Settle Native American Suit - Law Blog - WSJ
Another voting bloc locked up for the Demcocrats for 2010. And it cost only $3.4 billion of our money.

Dan Walters: A two-tier California is now reality - Sacramento Politics - California Politics | Sacramento Bee

Dan Walters: A two-tier California is now reality - Sacramento Politics - California Politics | Sacramento Bee: "The most graphic statistical evidence of California's two-tier economy, however, is found in a new study released by the United Ways of California. It found that 30 percent of California households lack enough income to cover 'bare-bones living expenses.'"
--------------
Fred Pilot sent this along. I am one of the people who talked about a two-tier society, way back in the mid 1980s. But I always figured the top tier would include the people living in private communities. Now it looks as though it isn't that simple--many of the casualties in the current recession are living in CIDs.

Dems to lift debt ceiling by $1.8 trillion, fear 2010 backlash - - POLITICO.com

Dems to lift debt ceiling by $1.8 trillion, fear 2010 backlash - - POLITICO.com
The federal government is broke and going broker. At least a dozen states are insolvent--probably more. There are cities filing for bankruptcy. Can you imagine what the Republican Party could do with the issue of lunatic government borrowing and spending if they had some cohesion and leadership? But instead we have people talking about a Palin-Beck ticket in 2012 and yammering about gay marriage and every other social issue under the sun. Unbelievable.

Public Policy Polling: Obama's December Standing

Public Policy Polling: Obama's December Standing: "Perhaps the greatest measure of Obama's declining support is that just 50% of voters now say they prefer having him as President to George W. Bush, with 44% saying they'd rather have his predecessor. Given the horrendous approval ratings Bush showed during his final term that's somewhat of a surprise and an indication that voters are increasingly placing the blame on Obama for the country's difficulties instead of giving him space because of the tough situation he inherited."
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Now, that has to hurt.

Glocester farmer, evicted in foreclosure, seeks to compel care for animals | Rhode Island news | projo.com | The Providence Journal

Glocester farmer, evicted in foreclosure, seeks to compel care for animals | Rhode Island news | projo.com | The Providence Journal: "The evicted owner of Bonniedale Farms, upset with the way 136 animals on his farm have been treated since he was forced off the property Monday by Wells Fargo Bank, plans to go before a Superior Court judge Wednesday to get a restraining order to force the bank or its agents to provide food, water and care for the animals left behind."
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What an awful situation. Thanks to Mystery Reader for bringing it to our attention.

Cantor Introduces Flag Resolution Into U.S. House - wtvr

Cantor Introduces Flag Resolution Into U.S. House - wtvr: "WASHINGTON, D.C. - The U.S. House of Representatives is reviewing a resolution that would allow all Congressional Medal of Honor recipients to properly display the flag on their property at all times."
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Courtesy of Republican Eric Cantor, the latest salvo in the Barfoot affair. Thanks to Fred Pilot for this update.

Homeowner Explains 'Hitler' Graffiti - Orlando News Story - WKMG Orlando

Homeowner Explains 'Hitler' Graffiti - Orlando News Story - WKMG Orlando: "The messages she spray-painted in large red letters on her home, located at 430 Emerald Drive, said, 'Hitler would be a welcome neighbor here. Stop the harassment to my family.' Another message said 'Merry Xmas.'

Jones told Local 6 News partner Florida Today on Tuesday afternoon that she had been mocked by her neighbors and humiliated at meetings, all because she failed to pay the $120 monthly homeowners association fee."
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You would think that by now the lawyers and property managers who advise these associations would have the big picture, but it seems that some people still don't get it. Let me spell it out: your Titanic seems to have hit the iceberg of public opinion. I don't think rearranging the deck chairs will help at this point.

Much Of Upper Midwest Gets Slammed In Snowstorm - cbs2chicago.com

Much Of Upper Midwest Gets Slammed In Snowstorm - cbs2chicago.com: "The first major winter snowstorm of the season made life miserable throughout much of the Upper Midwest and the governor of Wisconsin has already declared a state of emergency."
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Last night I was driving the twins to indoor soccer and piano lessons in a snowstorm, and this morning I spent an hour and a half shoveling. It is still snowing. I hope the weather is nice in Copenhagen.

Federal Officials From HUD Accuse Condo Association Of Discriminating Against Kids - wbztv.com

Federal Officials From HUD Accuse Condo Association Of Discriminating Against Kids - wbztv.com: "The kids are no longer allowed in common areas at the Stonecleave Condos, only a small area on the edge of the complex. It's unfair and kids say its a bad rule.

'We go from house to house or stay in one house. So you gotta stay in one house and watch a movie,' says Tyler, Tracey's 15-year-old son.

Now the US department of Housing is stepping in saying its discrimination against families with kids to charge them a ten dollar fine every time they use the common grassy areas or ride their bikes. A judge will hear the case and could award damages."
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It's bad for the grass, you see. The people who make rules like this must be hatching out of pods.

Homeowners association drops legal action against Colonel - NBC12 News, Weather Sports, Traffic, and Programming Guide for Richmond, VA |

Homeowners association drops legal action against Colonel -
This is a great day for everybody who has spoken out against violations of civil liberties by homeowners associations. This went all the way to the White House. Finally, at long last, the HOA bullies went up against the wrong guy--Col. Van T. Barfoot--and lost. Let's hope that the message went out to all the baskethead control freaks and file-churning lawyers who are tyrannizing home owners all over the nation that the country and its policy-makers finally, at long last, see the big picture.

Col. Barfoot gets White House support | Richmond Times-Dispatch

Col. Barfoot gets White House support | Richmond Times-Dispatch: "I think its silly to think that somebody that's done that couldn't have a flagpole,' said Gibbs, the White House press secretary, referring to Barfoot's service in three wars."
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This HOA is taking a ferocious beating in the national press. Latest shot comes from President Obama's press secretary. Anybody with an ounce of common sense would make a public announcement that in view of this man's service to his country, they are letting him keep the flagpole. But if they had an ounce of common sense they never would have gone after him in the first place.

Thanks to George Staropoli for this follow-up link.

Why Won't They Serve?

Why Won't They Serve?: "It seems that I am increasingly a prophet of doom. But really, if owners are unwilling to govern themselves then condominiums are merely apartments, and if they are unwilling to make the contributions that must be made for a community association to survive, then they must be willing to surrender their ownership interests and be renters. This is a housing crisis as serious as the present economic one, and it may be worse, because the crisis in community association government is not likely to end in a year or two."
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A missive from attorney Tyler Berding--thanks to Fred Pilot for flagging it.

Man arrested for trespassing on his own land | Duluth News Tribune | Duluth, Minnesota

Man arrested for trespassing on his own land | Duluth News Tribune | Duluth, Minnesota
Including being threatened with a taser and handcuffed. All over a disputed utility easement.

NJ woman who dodged foreclosure locked out of home

NJ woman who dodged foreclosure locked out of home: "A New Jersey woman returned home from Thanksgiving with family to find the locks changed days after she avoided foreclosure.

Bank of America says it made a mistake."
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Happy Thanksgiving from B of A!

7 Insane True Stories Behind the World's Most WTF Houses | Cracked.com

7 Insane True Stories Behind the World's Most WTF Houses | Cracked.com
As they say--"a house says a lot about a person...maybe that they just forgot to take their medication."

Another flag incident draws conservative ire

HHenrico Medal of Honor winner, 90, ordered to remove flagpole


"I hate these people!"

"These people would be great in the concentration camps, wouldn't they?"

"These cowards on the board of directors--I wonder where they fought?"
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Thus spake conservative radio fire-breather Mark Levin, tonight, regarding a Medal of Honor winner whose HOA board won't let him have a flagpole.

"Col. Van T. Barfoot, a local Medal of Honor winner, is under the gun from his Henrico County community's homeowner association.

In a five-paragraph letter to Barfoot that he received yesterday, Barfoot is being ordered to remove a flagpole from his yard. The decorated veteran of three wars, now 90 years old, raises the American flag every morning on the pole, then lowers and folds the flag at dusk each day in a three-corner military fashion."

Elizabeth Warren: America Without a Middle Class

Elizabeth Warren: America Without a Middle Class: "While the middle class has been caught in an economic vise, the financial industry that was supposed to serve them has prospered at their expense. Consumer banking -- selling debt to middle class families -- has been a gold mine. Boring banking has given way to creative banking, and the industry has generated tens of billions of dollars annually in fees made possible by deceptive and dangerous terms buried in the fine print of opaque, incomprehensible, and largely unregulated contracts."
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Yes. We know about contracts like that, don't we?

Florida condo owners fear continued foreclosure crisis, want banks to step up - Condos and HOAs – Living with rules

Florida condo owners fear continued foreclosure crisis, want banks to step up - Condos and HOAs – Living with rules: "About 68 percent of owners polled said they have seen an increase in units and homes falling into delinquency of 60 days or more. And 63 percent apparently fear more financial pain caused by Florida requirements for safety upgrades and retrofits, including fire alarm installations."

Another one of those isolated instances...

Condo management company loses BBB accreditation while being sued for theft, mismanagement: "The Better Business Bureau has cancelled the accreditation of Cincinnati’s ORP Realty Management Company today after the company failed to respond to a contract dispute complaint. This is only the latest problem for the beleaguered company as tenants of an East Walnut Hills condominium filed a civil suit last week against ORP, its President Steven Sykes Valentino and Vice President Michelle Banks alleging the firm stole $215,000 from the condominium association’s bank account."

The first web page: August 1991

The World Wide Web project
Did you ever see the first web page ever posted? This is it. It was made by Tim Berners-Lee.

Report Cites Shortfall in Key A.I.G. Business - NYTimes.com

Report Cites Shortfall in Key A.I.G. Business - NYTimes.com: "An independent analysis of whether the insurance industry has been setting aside enough money to pay its claims estimates that the American International Group has a shortfall of $11.9 billion in its property and casualty business."
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And we, the taxpayers, now have a substantial interest in AIGs solvency because we bailed them out and want our money back...don't we? But the word was that the company was fine except for that crazy derivatives/credit default swap business. And now they say, "Well, and except for the property and casualty business." Say what? Is that supposed to be just a sideline or something? Sounds like insurance to me.

So that's why "the debate is over"!

Investors.com - The CRU's Criminal Conspiracy: "Jones and his ilk even went so far as to seek suppression of contrarian evidence in those much beloved 'peer-reviewed' journals. When Climate Research published a skeptic's paper, Jones demanded the journal 'rid itself of this troublesome editor.'

Regarding another set of Gore disbelievers, Jones assured Dr. Mann, 'I can't see either of these papers being in the next IPCC report. Kevin and I will keep them out somehow — even if we have to redefine what the peer-reviewed literature is!'"

NCOC: Civic Health Index Finds America in the Midst of Civic Foreclosure

NCOC: Civic Health Index Finds America in the Midst of Civic Foreclosure: "The survey’s results reflect the hard choices Americans have made during the downturn, with 72 percent of respondents saying they have cut back on time engaged in civic participation, which includes time spent volunteering, participating in groups or performing other civic activities in their communities."
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Thanks to Fred Pilot for this link to a study that suggests even more bad news for the nation's HOAs and condo associations. They have a hard time finding volunteers even when the economy is good.

Climategate: The dog ate my data

Climate change data dumped - Times Online: "The data were gathered from weather stations around the world and then adjusted to take account of variables in the way they were collected. The revised figures were kept, but the originals — stored on paper and magnetic tape — were dumped to save space when the CRU moved to a new building"
---------------
Right. And all those emails about not letting anybody outside their little closed circle see the data?

Experts have beef with Daley on TIF :: CHICAGO SUN-TIMES :: Metro & Tri-State

Experts have beef with Daley on TIF :: CHICAGO SUN-TIMES :: Metro & Tri-State: "According to the city's own figures, nearly $500 million a year is diverted from the regular pool of property tax money heading toward Chicago schools, libraries parks, police, etc., into the obscure TIF funds, which are designed to promote development in “blighted” areas.

Daley’s TIF program is controversial because in addition to “blighted” areas on the West Side and other economically challenged areas, the mayor has used a novel definition of “blighted” to include parts of booming downtown."
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Yes--Daley uses TIF districts to divert tax money from the schools and other general government expenditures into the places where his crooked friends are building things. Then he lies about it to the local press. Then he gets re-elected. That's been the pattern so far.

Norman Radow, Hired to Clean Up Real Estate Messes - NYTimes.com

Norman Radow, Hired to Clean Up Real Estate Messes - NYTimes.com: "As founder of Radco Development Solutions, Mr. Radow is on the firing line in the continuing battle over failed residential real estate deals. Banks hire him to resurrect developments gone awry, particularly those half-empty condominium towers and gated communities that sprang up like weeds during the boom and are now in foreclosure."
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Maybe a TV series? "WORKOUT ARTIST!"

The battle at Bridgewater

The battle at Bridgewater: "WESLEY CHAPEL - As he tries to rehabilitate his struggling neighborhood, Mark Spector, president of the Bridgewater homeowners association, has taken a 'zero tolerance' approach toward people who break his community's rules."
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They even hired a PR firm. But how do you sell that zero tolerance policy to prospective buyers? That's an unpleasant prospect for most people.

HOA foreclosures high in Myrtle Beach area as dues fall behind - Local - TheSunNews.com

HOA foreclosures high in Myrtle Beach area as dues fall behind - Local - TheSunNews.com: "John Fritzsch knew he was behind on his payments to his homeowners association, but he was still floored when he learned those late payments had led the association to foreclose on his condominium in Myrtle Beach.

'It wasn't something that I expected,' he said, adding that he didn't know the association had the power to foreclose on him.

Fritzsch, of Brick, N.J., was diagnosed with multiple sclerosis after buying the condo in 2005, a setback that forced him to stop working and that brought mounds of medical bills - which made him fallbehind on his HOA payments."
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The foreclosures are mounting, and we are not at the peak yet.

$300 dues hike too much, say Twin Lakes Golf & Country Club residents | Federal Way - The News Tribune | Seattle-Tacoma News, Weather, Sports, Jobs, Homes and Cars | South Pu

$300 dues hike too much, say Twin Lakes Golf & Country Club residents | Federal Way - The News Tribune | Seattle-Tacoma News, Weather, Sports, Jobs, Homes and Cars | South Pu: "“If something doesn’t change at the golf club, we won’t be in operation a year from now,” said Jimme Schneider, president of Twin Lakes Golf & Country Club’s board of trustees."
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Yes, and this is the choice that is facing thousands of condos and hoas across the nation. It will get much, much worse in the years to come.

Menifee extends traffic enforcement to private roads in gated community | Inland News | PE.com | Southern California News | News for Inland Southern California

Menifee extends traffic enforcement to private roads in gated community : "Enforcing traffic laws for the 2 miles of roadway inside the Tierra Shores tract should not take a substantial toll on the city's law enforcement resources, McElvain said.

'There's probably thousands of miles of road in the city of Menifee. It probably won't be much of an impact,' he said.

But if city officials were to extend traffic enforcement to all the private communities in Menifee, that could start to affect the Sheriff's Department's ability to effectively cover the 48-square-mile city."
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Thanks to Fred Pilot for yet another example of the HOA getting built into the structure of local government.

Allowing contractors' signs in their yards can save homeowners money - The Denver Post

Allowing contractors' signs in their yards can save homeowners money - The Denver Post: "Ever wondered how much of a discount your neighbor is getting from his roofer by allowing him to put a sign advertising the company on the front lawn for months on end?

Turns out it can be significant. Then again, sometimes there's nothing in it for the owner except a fight with the homeowners association."
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Why yes, of course. The entire neighborhood would turn into Tobacco Road if home owners were allowed to have signs showing who they hired to improve their property.

U.S. Mortgage Delinquencies Reach a Record High - NYTimes.com

U.S. Mortgage Delinquencies Reach a Record High - NYTimes.com: "The combined percentage of those in foreclosure as well as delinquent homeowners is 14.41 percent, or about one in seven mortgage holders. Mortgages with problems are concentrated in four states: California, Florida, Arizona and Nevada. One in four people with mortgages in Florida is behind in payments.

Some of the delinquent homeowners are scrambling and will eventually catch up on their payments. But many others will slide into foreclosure. The percentage of loans in foreclosure on Sept. 30 was 4.47 percent, up from 2.97 percent last year."
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Let's see. What do CA, FL, AZ, and NV have in common? Lots of sun. What else? Oh, yes. These are states where CIDs have been the predominant form of new housing in recent years. So that means the foreclosures to come will place even heavier burdens on the remaining owners in all those condo associations and HOAs.

Unemployment rates by county

Hit the play button and watch the recession unfold

UIC News - University prepares for cuts in state funds

UIC News - University prepares for cuts in state funds: "As of Nov. 2, the university has billed the state for $317 million of its appropriation, but has only received about $400,000."
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And that's why we are now about to get hit with a budget rescission to the tune of $45 million. That's coming out of the budget we had for this year, which is well underway.

The state of Illinois is a fiscal basket case, and so are at least nine other states. I am not aware of any other time in memory when government budgets at all levels--federal, state, and local--have been so far out of balance. There is no pocket to get the money from. Governments are insolvent and the taxpayers are already economically stressed to the max.

YouTube - Lindsey Graham Destroys Eric Holder

YouTube - Lindsey Graham Destroys Eric Holder
How can Holder be unable to answer these simple questions? It seems that the Administration has not thought through any aspect of their decision to try enemy combatants in civilian court.

City Room™ - Business - Condo Owners Struggle to Salvage an Almost-Empty Building

City Room™ - Business - Condo Owners Struggle to Salvage an Almost-Empty Building This is the story that accompanies the WBEZ radio broadcast I just did with attorney Mark Pearlstein and Illinois State Representative Harry Osterman. There is also a link to the full story by Ashley Gross of this disastrous situation at the condo in question.

It is good to see that at least somebody is paying attention to this situation. I think the whole program was excellent, including the call from Brian White of the Lakeside Community Development Corporation, where they are trying to help out these associations and their owners. Listen to the whole thing and please comment.

WBEZ, 91.5 fm, chicago

I'll be on at 9am today, on the 8/48 show, talking about how the recession has hit condos and HOAs. Attorney Mark Pearlstein is scheduled to be there as well. It will be archived as a podcast and I'll link to it.

Fines for too-tall grass could rise to $1,000 a day in Jupiter

Fines for too-tall grass could rise to $1,000 a day in Jupiter: "JUPITER — An overgrown lawn could cost a homeowner $1,000 a day.

A plan to quadruple the penalty from the current maximum of $250 per day for a first violation is scheduled for consideration at Tuesday night's town council meeting.

A repeat violation by the same person would be boosted to $5,000 a day maximum from $500 per day."
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This is so outrageous even the HOAs are objecting to it.

The worst is yet to come: Unemployed Americans should hunker down for more job losses

The worst is yet to come: Unemployed Americans should hunker down for more job losses: "As a result of these terribly weak labor markets, we can expect weak recovery of consumption and economic growth; larger budget deficits; greater delinquencies in residential and commercial real estate and greater fall in home and commercial real estate prices; greater losses for banks and financial institutions on residential and commercial real estate mortgages, and in credit cards, auto loans and student loans and thus a greater rate of failures of banks; and greater protectionist pressures."
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Thus spake Nouriel Roubini, aka Dr. Doom.

Administration to Propose Federal Oversight of Subways, Report Says - FOXNews.com

Administration to Propose Federal Oversight of Subways, Report Says - FOXNews.com: "In the wake of last summer's deadly Metro crash in Washington, D.C., the Obama administration reportedly plans to propose that subway and light-rail systems across the country fall under federal oversight.

The pitch comes as the administration moves to increase regulation over the financial, auto, health care and industrial sectors."
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I keep hearing from leftists that the Obama administration is disappointing because they aren't going far enough to the left. How's this?