L.A. seeing more people living out of their cars: "Amid the foreclosure crisis and the shaky economy, some California cities are seeing an increase in the number of people living out of their cars, vans or RVs. Acting on complaints from homeowners, the Los Angeles City Council got tough earlier this year by forbidding nearly all overnight parking in residential neighborhoods such as South Brentwood. But some people are just crowding into other parts of the city, including the seaside community of Venice, where dozens of rusty, dilapidated campers can be seen lined up outside neat single-family homes. The stench of urine emanates from a few of the vehicles, and some residents say they have seen human waste left behind."
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Looking on the bright side, living in your car solves two problems at once. You don't need to pay for a house, and you don't need to buy gas.
Monday, June 23, 2008
Report: US housing slump a prelude to recession
Report: US housing slump a prelude to recession: "NEW YORK (AP) - A bottom to the housing slump is nowhere in sight and, if history is any guide, a recession is mostly likely lurking around the corner, an academic study showed Monday.
Harvard University's Joint Center for Housing Studies painted a bleak picture of the current housing downturn, pegging it as possibly being 'the worst in a generation' in its 'The State of the Nation's Housing 2008' report."
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That good news just keeps on coming. How about that part about the bottom of the housing slump being "nowhere in sight"?
Harvard University's Joint Center for Housing Studies painted a bleak picture of the current housing downturn, pegging it as possibly being 'the worst in a generation' in its 'The State of the Nation's Housing 2008' report."
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That good news just keeps on coming. How about that part about the bottom of the housing slump being "nowhere in sight"?
Sunday, June 22, 2008
HOA fees go unpaid
HOA fees go unpaid: "Despite its crisp appearance, including lavish water fountains and well-kept greens, the Villages at Rancho El Dorado Homeowners Association in Maricopa struggles to pay its bills.
Like several HOAs across the state, more than 30 percent of its residents skipped out on paying their mandatory membership fees, a result of the subprime mortgage crisis and looming foreclosures."
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The stories on unpaid HOA and condo fees are piling up. The collections and foreclosure lawyers are busy. How long before we start reading about bankrupt HOAs? Thanks to Fred Pilot for the link
Like several HOAs across the state, more than 30 percent of its residents skipped out on paying their mandatory membership fees, a result of the subprime mortgage crisis and looming foreclosures."
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The stories on unpaid HOA and condo fees are piling up. The collections and foreclosure lawyers are busy. How long before we start reading about bankrupt HOAs? Thanks to Fred Pilot for the link
Saturday, June 21, 2008
News: Leisure World residents win legal battle for openness : "Last week, the four-year ordeal was brought to an end when California Fourth District Appellate Court ruled in favor of the seven residents in a countersuit Golden Rain filed against them. The decision reaffirmed a lower court ruling that the GRF is indeed a common interest development so it must follow state rules on governing associations, such as homeowner's associations. State law requires that financial records of these associations must be made available to residents."
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I get so tired of hearing all the free marketers and industry flacks talking about how HOAs are local democracies. What kind of democracy requires you to spend four years suing them in order to see how your own money is being spent? And what kind of democracy is it when you, the owner, have to vote without knowing what is going on? Congratulations to these 16 folks who fought for transparency. People are getting stonewalled all over the country by HOAs who come up with all sort of absurd excuses and obstructionist arguments for not living up to legally mandated disclosure obligations.
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I get so tired of hearing all the free marketers and industry flacks talking about how HOAs are local democracies. What kind of democracy requires you to spend four years suing them in order to see how your own money is being spent? And what kind of democracy is it when you, the owner, have to vote without knowing what is going on? Congratulations to these 16 folks who fought for transparency. People are getting stonewalled all over the country by HOAs who come up with all sort of absurd excuses and obstructionist arguments for not living up to legally mandated disclosure obligations.
Condo Company Unwraps Plan For Clothing-Optional Pool
Condo Company Unwraps Plan For Clothing-Optional Pool: "COUNTRYWAY -- Swimmers will have the option of wearing nothing at all at the Arbors at Branch Creek, a complex of 390 homes that landed on the idea to help move units in a down market. One pool is being set aside for nude swimmers, sunbathers and hot tubbers, said Christine Pirkle, director of sales with the Web site for the project's developers."
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The naked truth is that when you strip this idea to its bare essentials, it is nothing nude. I mean new.
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The naked truth is that when you strip this idea to its bare essentials, it is nothing nude. I mean new.
The Gated Community « Cindy Thornton Fine Art
The Gated Community « Cindy Thornton Fine Art
Check out this painting.
Check out this painting.
Friday, June 20, 2008
Pat Dollard | Young Americans | Blog Archive » Woman in Conflict With Homeowner’s Association Puts Up Confederate Flag
This sort of thing backfires. To some people the stars and bars symbolizes a rebellious spirit and a link to the southern past, but to a lot of other people it stands for the defense of slavery and Jim Crow laws. Maybe she should fly a different flag, like the one that says, "Don't Tread On Me."
update:
As a commenter notes, she is claiming that the monthly fees she has been paying have not been going to an HOA, because (she says) there is no HOA and no CC&R enforcement. If I understand this lady correctly, the flag (to her) is meant to protest the "redneck" lifestyle that she believes is allowed due to the lack of covenant enforcement. She didn't mean it in a historic sense, but to convey that her neighborhood was too rednecky for her taste--as in, "This neighborhood is turning into the kind of place where people would fly the confederate flag." She also has a toilet on the front lawn and some anti-redneck signs. Whether there is an association, or a defunct association, or a golf club or whatever, I do not know, but flying that flag sure takes it from a neighborhood dispute to a more political level. In political science we call that enlarging the scope of the conflict. That doesn't always pay off.
This sort of thing backfires. To some people the stars and bars symbolizes a rebellious spirit and a link to the southern past, but to a lot of other people it stands for the defense of slavery and Jim Crow laws. Maybe she should fly a different flag, like the one that says, "Don't Tread On Me."
update:
As a commenter notes, she is claiming that the monthly fees she has been paying have not been going to an HOA, because (she says) there is no HOA and no CC&R enforcement. If I understand this lady correctly, the flag (to her) is meant to protest the "redneck" lifestyle that she believes is allowed due to the lack of covenant enforcement. She didn't mean it in a historic sense, but to convey that her neighborhood was too rednecky for her taste--as in, "This neighborhood is turning into the kind of place where people would fly the confederate flag." She also has a toilet on the front lawn and some anti-redneck signs. Whether there is an association, or a defunct association, or a golf club or whatever, I do not know, but flying that flag sure takes it from a neighborhood dispute to a more political level. In political science we call that enlarging the scope of the conflict. That doesn't always pay off.
The Frederick News-Post Online - Frederick County Maryland Daily Newspaper
The Frederick News-Post Online - Frederick County Maryland Daily Newspaper: "“JILL,” A GAITHERSBURG HOMEOWNER, DOESN’T WANT HER REAL NAME USED IN THIS STORY. You see, for several years “Jill” has been willfully violating her Montgomery Village Association homeowners rules: She hangs laundry to dry on her backyard clothesline."
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Add clotheslines to the list of things that make sense that HOAs fine you for doing. Along with lawns that don't need water, solar panels, home businesses, gardens, satellite dishes (now covered by federal law), pickup trucks, and questioning authority.
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Add clotheslines to the list of things that make sense that HOAs fine you for doing. Along with lawns that don't need water, solar panels, home businesses, gardens, satellite dishes (now covered by federal law), pickup trucks, and questioning authority.
islandpacket.com | How will the area clean up in the event of a hurricane?
Hilton Head to do hurricane cleanup for gated communities: "Hilton Head Island town officials decided last year they would be solely responsible for debris management in the cleanup effort after a hurricane. The decision ended a confusing system that involved duplicated efforts by the town, county government and each of the gated communities. The policy makes the town responsible for clearing all private roads, including ones in gated communities, and the dirt roads still found in many native islander areas. About 70 percent of residents live in gated communities. Previously, the state, county and town all were responsible for clearing their own roads, while gated communities and residents along private roads were left to fend for themselves."
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With 70% of the population living in gated communities, the line between private and public priorities tends to get a little blurred.
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With 70% of the population living in gated communities, the line between private and public priorities tends to get a little blurred.
First lakeside gated community for Saudi Arabia
First lakeside gated community for Saudi Arabia
Lake? Saudi Arabia? What's wrong with this picture.
Oh, and it will have 11 mosques.
Lake? Saudi Arabia? What's wrong with this picture.
Oh, and it will have 11 mosques.
MySA.com: Gardening
MySA.com: Gardening: "We're just days away from water restrictions, and that means watering your lawn a lot less.
So what do you do if your Homeowner's Association requires you to keep a green lawn?"
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Well, I guess you choose between between being fined by the City of San Antonio for violating the water restrictions, or being fined by your HOA for not keeping your lawn green. (Fred Pilot sent this link.)
So what do you do if your Homeowner's Association requires you to keep a green lawn?"
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Well, I guess you choose between between being fined by the City of San Antonio for violating the water restrictions, or being fined by your HOA for not keeping your lawn green. (Fred Pilot sent this link.)
Court: mentally ill defendant can't be own lawyer - Yahoo! News
Court: mentally ill defendant can't be own lawyer - Yahoo! News: "WASHINGTON (Reuters) - Mentally ill criminal defendants who have been found competent to stand trial can be denied the right to represent themselves, the U.S. Supreme Court ruled on Thursday."
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Once I prosecuted a crazy man who insisted on representing himself. The offense was trespassing. He was living on somebody else's land and had built himself a shack complete with the treasures he accumulated by rummaging through trash. His defense was, "God owns the land." The jury was out 8 minutes. A few months later another prosecutor got the same defendant and same defense. Result: 5 minutes to guilty verdict. My record stood for a while, anyway.
This Supreme Court ruling is sensible because crazy people can't represent themselves effectively and the courtroom becomes even more of a loony bin than usual. Of course, it raises the question of what constitutes being competent to stand trial, but to crazy to be your own lawyer. If you are too crazy to represent yourself, how can you be competent to assist your attorney in your own defense? And is there any risk of a judge disallowing a certain type of defense by saying you must be crazy and forcing you to have an attorney, even though you as the defendant want to present it that way?
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Once I prosecuted a crazy man who insisted on representing himself. The offense was trespassing. He was living on somebody else's land and had built himself a shack complete with the treasures he accumulated by rummaging through trash. His defense was, "God owns the land." The jury was out 8 minutes. A few months later another prosecutor got the same defendant and same defense. Result: 5 minutes to guilty verdict. My record stood for a while, anyway.
This Supreme Court ruling is sensible because crazy people can't represent themselves effectively and the courtroom becomes even more of a loony bin than usual. Of course, it raises the question of what constitutes being competent to stand trial, but to crazy to be your own lawyer. If you are too crazy to represent yourself, how can you be competent to assist your attorney in your own defense? And is there any risk of a judge disallowing a certain type of defense by saying you must be crazy and forcing you to have an attorney, even though you as the defendant want to present it that way?
My Way News - White House threatens veto of foreclosure rescue
My Way News - White House threatens veto of foreclosure rescue: "WASHINGTON (AP) - A broad bipartisan coalition supporting a massive foreclosure rescue beat back GOP efforts to gut it Thursday, defying a White House veto threat and quashing a bid to make it victim to revelations about two senators' VIP mortgages. Administration officials said they oppose the inclusion of $4 billion in the measure to help states buy and rehabilitate foreclosed properties, and a plan to have government-sponsored mortgage giants Fannie Mae (FNM) and Freddie Mac (FRE) pay for the rescue. They announced those and other objections as two GOP senators said they would try to block the package until a committee can investigate how much Countrywide Financial Corp. (CFC) and other lenders stand to gain from it."
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I don't know why, but for some reason whenever I see the words "broad bipartisan coalition" my skin crawls and I reach back to see if my wallet is still there.
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I don't know why, but for some reason whenever I see the words "broad bipartisan coalition" my skin crawls and I reach back to see if my wallet is still there.
Thursday, June 19, 2008
MyFox Tampa Bay | Homeowner's fees leading to foreclosures: "AMPA - Attorney Bob Tankel's day revolves around foreclosures. His inbox is full of cases needing his attention, but he doesn't work for a bank. Tankel's carved out a thriving business working for homeowner's associations - handling delinquencies involving unpaid fees that can lead to foreclosure. 'I feel people don't understand the implications or ramifications of not paying their fees,' Tankel said. For homeowners barely able to pay their mortgages, the HOA fees - usually more than two hundred dollars a month - are often the first bill left unpaid. That's when the homeowner's association brings in Tankel to begin the foreclosure process."
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The HOA foreclosure lawyers are doing great now, because as the article notes, when people are in financial trouble, "HOA fee...are often the first bill left unpaid." And, as the article further explains, these lawyers move as fast as possible toward foreclosure so they can get there before the mortgage company does. How about this comment: "I'm sending out a thousand certified letters a month," Tankel estimated. "And that includes demands, 45-day letters, and lien letters." And this is just one lawyer from the Tampa area. Think about what is going on all over the country.
Yet another reason why people need to think very, very carefully before buying a unit in an HOA or condo development...
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The HOA foreclosure lawyers are doing great now, because as the article notes, when people are in financial trouble, "HOA fee...are often the first bill left unpaid." And, as the article further explains, these lawyers move as fast as possible toward foreclosure so they can get there before the mortgage company does. How about this comment: "I'm sending out a thousand certified letters a month," Tankel estimated. "And that includes demands, 45-day letters, and lien letters." And this is just one lawyer from the Tampa area. Think about what is going on all over the country.
Yet another reason why people need to think very, very carefully before buying a unit in an HOA or condo development...
Wednesday, June 18, 2008
boortz.com: Nealz Nuze Today's Nuze
boortz.com: Neal Boortz opines on HOA leadership: "As I've said many times before .. Condo and Homeowner's associations are the scourge of our land. You will usually find two types of people serving on these boards: (1) People who wielded power during their work years, and miss it; or, (2) People who have never had power before in their lives and get absolutely drunk on it. Oh ... I know there are exceptions. I'm very lucky to experience a really good condo association at my Florida home. In spite of that ... I think that we need to get their attention, and one way to do this would be to select one association at random every year or so, and --- on pay-per-view TV --- execute them."
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Not to put too fine a point on it, or anything.
Thanks to Rick Black, of Marietta, GA, who sent this link.
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Not to put too fine a point on it, or anything.
Thanks to Rick Black, of Marietta, GA, who sent this link.
Facebook 'dipping' craze irks pool owners - Telegraph: "Teenagers are using internet satellite images to spot outdoor swimming pools before meeting for late-night dips. The new craze, known as “dipping”, involves people using pictures from Google Earth to identify homes that have large outdoor pools. Once a venue is found, the youngsters use social networking sites including Facebook and Bebo to meet for impromptu swims and pool parties. Police said some residents have woken up to find youngsters using their pools. Others have come home from work to find their pools full of beer cans."
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Young whippersnappers.
Property Owners Association Act webcast and summary | VARbuzz
Property Owners Association Act webcast and summary | VARbuzz
This goes to a summary of the act and a blog post announcing a Friday webcast to explain the new Virginia law.
This goes to a summary of the act and a blog post announcing a Friday webcast to explain the new Virginia law.
EconPolice
EconPolice: Critical analysis of "American Murder Mystery": "In short, while we have not demonstrated in our initial analysis that Section 8 rentals are definitively not causing increased criminal activity, we certainly have shown the evidence as presented in the Atlantic article falls far short of doing so. Furthermore, the hypothesis presented in the article is a dangerous premise to dangle in front of the public with such non-existent evidence, as it lends a supposed veneer of scientific support to the notion that the federal Section 8 program I exporting crime, and thus potentially creating public resistance to the program for simply no valid reason."
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Thanks to John Kroger for sending this link. I linked to the Atlantic piece below. The author of this rebuttal finds fault with their analysis, but he doesn't claim to have disproved the article's central claim, nor does he offer an alternative explanation for the increase in crime.
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Thanks to John Kroger for sending this link. I linked to the Atlantic piece below. The author of this rebuttal finds fault with their analysis, but he doesn't claim to have disproved the article's central claim, nor does he offer an alternative explanation for the increase in crime.
Tuesday, June 17, 2008
ABC News: 'Neighborhood' Gun Tied to Girl's Death
ABC News: 'Neighborhood' Gun Tied to Girl's Death: "A teenager is expected to plead not guilty today to charges that he shot and killed a 10-year-old girl with a 'community gun' that he allegedly claims was shared by 'everyone in the neighborhood.'"
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Apparently the virtues and savings of common ownership have at last trickled down as far as possible without dripping through the floor.
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Apparently the virtues and savings of common ownership have at last trickled down as far as possible without dripping through the floor.
Thousands in Orlando want Shaq to help with mortgages -- OrlandoSentinel.com
Thousands in Orlando want Shaq to help with mortgages -- OrlandoSentinel.com: "A week after Shaquille O'Neal told the Orlando Sentinel that he's working on a plan to rescue Central Floridians facing foreclosure, he has learned just how widespread the problem is. 'He has two or three thousand e-mails,' said Curtis Cooper, an Orlando Realtor and mortgage broker working with O'Neal on the project. 'There have been a lot of calls from talk shows and radio shows.'"
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Maybe he wants to reconsider that offer now.
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Maybe he wants to reconsider that offer now.
Life is solitary in unfinished subdivisions | ajc.com
Life is solitary in unfinished subdivisions | ajc.com: "One of just two residents in what was to be a 105-home development, the 54-year-old information technology manager strolls down lonely streets past silt fences, weedy lots, nearly 20 vacant homes and a sign cheerily announcing that a pool and cabana are 'Coming Soon!'
But his community lifestyle isn't without upsides. Three he mentions: Attractive housing. Lots of peace and quiet. And a female friend who has sunbathed topless on his back deck."
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Sounds like fun. Hope the two residents enjoy paying the six-figure special assessment that may be lying in wait like a puff adder.
But his community lifestyle isn't without upsides. Three he mentions: Attractive housing. Lots of peace and quiet. And a female friend who has sunbathed topless on his back deck."
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Sounds like fun. Hope the two residents enjoy paying the six-figure special assessment that may be lying in wait like a puff adder.
Gardening in the city | csmonitor.com
Gardening in the city | csmonitor.com: "However, these front yard gardens are not without controversy, as neighbors and homeowner’s associations may oppose them saying the vegetable gardens detract from the general appearance of the neighborhood."
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No doubt. After all, the entire development has to look the same or all human life as we know it will come to an end.
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No doubt. After all, the entire development has to look the same or all human life as we know it will come to an end.
NBC2 News Online - Foreclosures: 'It's a nightmare across the board'
NBC2 News Online - Foreclosures: 'It's a nightmare across the board': "LEE COUNTY: The number of foreclosures in Lee County is up 350-percent for the first five months of the year. Now, the crisis is proving painful for more than just delinquent homeowners. NBC2 found out why people who can afford to keep their home are also paying the price. Less than a year ago, Lisa Norman bought a condo in the Terraces at Riverwalk. Now her neighbors are becoming scarce and she's feeling the hit. She just received a $500 bill out of the blue from her homeowner's association. 'I can't afford it. It's not in my budget,' said Norman. She has until August 15 to come up with the money. A section in the association's contract allows for 'special assessments' for unexpected events. The homeowner's association says the high number of foreclosures falls into that category. Homeowners were not paying their fees and the association was left with the bills for things like water, lawn maintenance, and keeping the pool in good shape."
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I think this situation is going to snowball, as the threat of insolvency goes from owners to HOAs to local governments.
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I think this situation is going to snowball, as the threat of insolvency goes from owners to HOAs to local governments.
Chicago TIFS: Find out what 150 mayoral slush funds look like | Chicago News, Politics, Culture and Commentary - WindyCitizen.com
Chicago TIFS: Find out what 150 mayoral slush funds look like | Chicago News, Politics, Culture and Commentary - WindyCitizen.com
Tax Increment Financing Districts, or TIFs, are special taxing districts used to spur redevelopment of "blighted" areas. Redevelopment leads to increased property tax revenues. If the area is a TIF, that increase does not go into the general tax coffers. It goes to the city, but is used to pay back the developer for building the new infrastructure that went along with the redevelopment and otherwise serve as a "mayoral slush fund," as the article says. The result is that the school districts and other taxing bodies get nothing for 23 years, even though the TIF may greatly increase the burdens on taxpayers to those bodies.
As with every aspect of government in Chicago, it is nearly impossible to get accurate information on how this particular device is being used. But this article says that 30% of the land area of Chicago is now in TIFs. Makes life interesting for the other 70% when tax time comes.
Tax Increment Financing Districts, or TIFs, are special taxing districts used to spur redevelopment of "blighted" areas. Redevelopment leads to increased property tax revenues. If the area is a TIF, that increase does not go into the general tax coffers. It goes to the city, but is used to pay back the developer for building the new infrastructure that went along with the redevelopment and otherwise serve as a "mayoral slush fund," as the article says. The result is that the school districts and other taxing bodies get nothing for 23 years, even though the TIF may greatly increase the burdens on taxpayers to those bodies.
As with every aspect of government in Chicago, it is nearly impossible to get accurate information on how this particular device is being used. But this article says that 30% of the land area of Chicago is now in TIFs. Makes life interesting for the other 70% when tax time comes.
FOXNews.com - More Iowa Towns Brace for Flooding Along Mississippi River - Local News | News Articles | National News | US News
FOXNews.com - More Iowa Towns Brace for Flooding Along Mississippi River: "OAKVILLE, Iowa — As some of Iowa's flooded towns began cleaning up, others braced for new flooding risks, particularly in southeastern Iowa along the Mississippi River."
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You mean the citizens of Iowa (and Wisconsin and Illinois and Indiana) are actually doing something to mitigate the damage from impending flooding? How strange. They must be those bitter small-town folks Obama was talking about. Don't they realize that they are supposed to act like helpless victims?
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You mean the citizens of Iowa (and Wisconsin and Illinois and Indiana) are actually doing something to mitigate the damage from impending flooding? How strange. They must be those bitter small-town folks Obama was talking about. Don't they realize that they are supposed to act like helpless victims?
Monday, June 16, 2008
More Than 60,000 Bees Removed From North Carolina Man’s Home : "North Carolina man says his house was so overrun with bees that the walls ooze honey."
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This would make a good Abbott and Costello routine:
"Honey?"
"That's right. It's coming out of the walls."
"I said, Honey?"
"I said, that's right. Coming out of the walls."
"Hey, Honey! I'm talking to you."
"It isn't hay. It's honey."
Is America's suburban dream collapsing into a nightmare? - CNN.com
Is America's suburban dream collapsing into a nightmare? - CNN.com: "Recent market research indicates that up to 40 percent of households surveyed in selected metropolitan areas want to live in walkable urban areas, said Leinberger. The desire is also substantiated by real estate prices for urban residential space, which are 40 to 200 percent higher than in traditional suburban neighborhoods -- this price variation can be found both in cities and small communities equipped with walkable infrastructure, he said.
The result is an oversupply of depreciating suburban housing and a pent-up demand for walkable urban space, which is unlikely to be met for a number of years. That's mainly, according to Leinberger, because the built environment changes very slowly; and also because governmental policies and zoning laws are largely prohibitive to the construction of complicated high-density developments.
But as the market catches up to the demand for more mixed use communities, the United States could see a notable structural transformation in the way its population lives -- Arthur C. Nelson, director of Virginia Tech's Metropolitan Institute, estimates, for example, that half of the real-estate development built by 2025 will not have existed in 2000.
Yet Nelson also estimates that in 2025 there will be a surplus of 22 million large-lot homes that will not be left vacant in a suburban wasteland"
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Fred Pilot sent this cheerful piece about how the American suburban dream died. Again.
The result is an oversupply of depreciating suburban housing and a pent-up demand for walkable urban space, which is unlikely to be met for a number of years. That's mainly, according to Leinberger, because the built environment changes very slowly; and also because governmental policies and zoning laws are largely prohibitive to the construction of complicated high-density developments.
But as the market catches up to the demand for more mixed use communities, the United States could see a notable structural transformation in the way its population lives -- Arthur C. Nelson, director of Virginia Tech's Metropolitan Institute, estimates, for example, that half of the real-estate development built by 2025 will not have existed in 2000.
Yet Nelson also estimates that in 2025 there will be a surplus of 22 million large-lot homes that will not be left vacant in a suburban wasteland"
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Fred Pilot sent this cheerful piece about how the American suburban dream died. Again.
Illinois pension debt worst in nation - Rockford, IL - Rockford Register Star
Illinois pension debt worst in nation - Rockford, IL - Rockford Register Star: "The state’s pension debt will exceed $44 billion this summer, increasing at a rate of about $120 per second, according to Gov. Rod Blagojevich’s administration. The debt already tops $42 billion — enough to give every one of Illinois’ 12.8 million residents a check of $3,300 or buy 937,000 Cadillacs at $45,000 a pop.
The combination of debt in terms of both money and percentage gives Illinois the infamous distinction of having the nation’s worst pension problem, according to an Associated Press review of records and interviews with experts. And there’s no solution in sight."
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The problems that HOAs and condo associations are starting to have with finances are coming at a bad time, because a number of state and local governments are in trouble. Illinois is a fiscal basket case. When the bozos in Springfield do the annual budget Kibuki play, they speak in terms of a $2 billion or $3 billion dollar deficit that they have to cover. They ignore the fact that they have systematically refused to make their full payments to the five state employee pension funds for about 20 years running. Now the pension debt is $44 BILLION.. And climbing.
Not to mention the fact that private pension plans are hurting. And the baby boomers start to hit retirement age in 2011, which is only 3 years away.
Oh--and the generation that is supposed to keep Social Security alive for us is convinced that the human face looks great with five pounds of metal stuck through it.
The combination of debt in terms of both money and percentage gives Illinois the infamous distinction of having the nation’s worst pension problem, according to an Associated Press review of records and interviews with experts. And there’s no solution in sight."
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The problems that HOAs and condo associations are starting to have with finances are coming at a bad time, because a number of state and local governments are in trouble. Illinois is a fiscal basket case. When the bozos in Springfield do the annual budget Kibuki play, they speak in terms of a $2 billion or $3 billion dollar deficit that they have to cover. They ignore the fact that they have systematically refused to make their full payments to the five state employee pension funds for about 20 years running. Now the pension debt is $44 BILLION.. And climbing.
Not to mention the fact that private pension plans are hurting. And the baby boomers start to hit retirement age in 2011, which is only 3 years away.
Oh--and the generation that is supposed to keep Social Security alive for us is convinced that the human face looks great with five pounds of metal stuck through it.
Sunday, June 15, 2008
American Murder Mystery
American Murder Mystery: "While crime rates in large cities stayed flat, homicide rates in many midsize cities (with populations of between 500,000 and 1 million) began increasing, sometimes by as much as 20percent a year. In 2006, the Police Executive Research Forum, a national police group surveying cities from coast to coast, concluded in a report called “A Gathering Storm” that this might represent “the front end … of an epidemic of violence not seen for years.” The leaders of the group, which is made up of police chiefs and sheriffs, theorized about what might be spurring the latest crime wave: the spread of gangs, the masses of offenders coming out of prison, methamphetamines. But mostly they puzzled over the bleak new landscape. According to FBI data, America’s most dangerous spots are now places where Martin Scorsese would never think of staging a shoot-out—Florence, South Carolina; Charlotte-Mecklenburg, North Carolina; Kansas City, Missouri; Reading, Pennsylvania; Orlando, Florida; Memphis, Tennessee."
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Fred Pilot sent this along. The author suggests that the problem is caused by dispersal of former public housing tenants who are now using Section 8 vouchers to move from big city projects to smaller cities and suburbs.
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Fred Pilot sent this along. The author suggests that the problem is caused by dispersal of former public housing tenants who are now using Section 8 vouchers to move from big city projects to smaller cities and suburbs.
Towns push sex offender limits - The Boston Globe
Towns push sex offender limits - The Boston Globe: "...this spring, Weymouth joined a growing number of communities across the Commonwealth by banning Level 3 sex offenders - those deemed most likely to re-offend - from living within 1,500 feet of any school, park, daycare center, or recreational facility. And in doing so, Weymouth officials not only made it almost impossible for Level 3 sex offenders to live in town, they managed to stoke fears in other communities that predators, unwelcome in Weymouth, may be headed their way."
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Another town that wants to become a gated community. I guess one town at a time all the places sex offenders can live will disappear until there is only one town left, and all of them will be there. Kind of like musical chairs. What unlucky community will be home to all the nation's sex offenders? I figure it will have to be someplace with an appropriate name, like Toad Suck, Arkansas.
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Another town that wants to become a gated community. I guess one town at a time all the places sex offenders can live will disappear until there is only one town left, and all of them will be there. Kind of like musical chairs. What unlucky community will be home to all the nation's sex offenders? I figure it will have to be someplace with an appropriate name, like Toad Suck, Arkansas.
Saturday, June 14, 2008
Police checkpoint at Rolling Meadows apartment complex gets mixed reviews -- chicagotribune.com
Police checkpoint at Rolling Meadows apartment complex gets mixed reviews -- chicagotribune.com: "An aging Rolling Meadows apartment complex became a closed community of sorts this week when police blocked off every entrance but one, placing two officers there for eight hours a day and stopping all vehicle traffic coming in."
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Mystery Reader sent this along. I saw this in the Tribune but thought I was reading The Onion.
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Mystery Reader sent this along. I saw this in the Tribune but thought I was reading The Onion.
Business - Home Front: Remodeling projects still thrive, but with smaller size and cost - sacbee.com
Sacramento Bee: HOA sues hero Chuck Yeager: "[Famed test pilot and American legend Chuck] Yeager is being sued by his homeowners association, Pocket-area Park River Oak Estates, which claims he owes $12,000 in back association dues and fees. The suit, filed last month in Sacramento Superior Court, alleges that Yeager and his wife, Victoria Scott Yeager, have owned two condo units since 1998 and have not paid monthly dues for four years. Dues in the gated community are $240 per lot and cover costs of maintenance, repairs, security, landscaping and lighting.
A statement from the Yeagers says the lawsuit 'has no merit and is frivolous.'"
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Thanks to Fred Pilot for this link. This HOA had better be careful. They may end up getting accidentally strafed by an F-18.
A statement from the Yeagers says the lawsuit 'has no merit and is frivolous.'"
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Thanks to Fred Pilot for this link. This HOA had better be careful. They may end up getting accidentally strafed by an F-18.
Thursday, June 12, 2008
Police look to ban daggers following deadly stabbing spree in Akihabara - Mainichi Daily News: "The National Police Agency (NPA) is set to draft a bill to amend the Firearms and Swords Control Law to recognize daggers as illegal swords.
The current law restricts the possession of swords with a blade 15 centimeters or longer. However, the dagger that Tomohiro Kato, 25, used in the stabbing rampage had a 13-centimeter blade and is not subject to restrictions under the law.
NPA officials said daggers are highly lethal weapons and are hardly necessary in people's daily lives."
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Governments seem to look constantly for excuses to render citizens helpless and dependent on government itself for sustenance, safety, community, and anything else they can find. One nutball goes crazy with a dagger and stabs people. Government response: ban possession of daggers. Here in the US we get the same reflex over firearms. Two simple facts: 1) people will always find ways to kill each other, so that problem is insoluble, and 2) governments will always try to seize as much power over people as they can, so they will never stop using the fantasy of a murder-free world as an excuse to disarm us. The result is that we can't protect ourselves from bad guys, so we are expected to rely on the government for that. They will never, ever, be able to do it, but they will become very powerful by virtue of the false promise of eventual success.
FOXNews.com - Flooding Hits Historic 500-Year Levels in Iowa : "The National Weather Service called flooding in Cedar Rapids, Iowa, a 'historic hydrologic event' Thursday as the swollen river poured over its banks at 500-year flood levels, forcing the evacuation of nearly 4,000 homes."
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In Wisconsin, Lake Delton rose so high it broke through its barriers and drained entirely into the Wisconsin River (the photo above is where the lake used to be). The former lake is now a mud flat, leaving the Wisconsin Dells tourist season in shreds just as it was about to start. Plenty of business are going to be ruined. Here in Lake County, IL, we are awaiting an imminent storm, coming on top of the ones that already inundated the area. But that is nothing compared to Iowa, where they are about to float away. After the waters recede people will start to assess the damage and call the insurance company. I wonder how many condo buildings and HOA properties are in trouble.
Mega-mansions are L.A.'s really big show - Los Angeles Times: "Unaffected by the economic woes besetting the masses, the super-rich are going on creating palace-like complexes. One builder says he knows of 20 houses of at least 20,000 square feet in the works."
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As Marie Antionette said, "Let them eat cake."
Well, I for one am greatly relieved to hear that our betters are still able to construct their mansions. I would be heartbroken to learn that they were forced to live in squalor with less than 20,000 square feet at their disposal. I have that much room, if I include the street in front of my house and the park behind it.
Wednesday, June 11, 2008
When NIMBY's attack...
MyFox Washington DC | Plan to Give Bethesda House to Homeless Family Nixed: "ROCKVILLE, Md. (AP) -- The Montgomery County Council has voted to demolish a house located on future parkland, rather than allow a needy family to live in it.
Residents of Bethesda's Hillmead neighborhood had bitterly fought the plan to house a homeless family on the property."
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Sounds like a NIMBY situation.
Residents of Bethesda's Hillmead neighborhood had bitterly fought the plan to house a homeless family on the property."
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Sounds like a NIMBY situation.
Tuesday, June 10, 2008
Who dropped the ball? - Las Vegas Sun: "Banks and other mortgage lenders are turning out to be lousy neighbors. Foreclosed homes featuring brown lawns and fetid swimming pools litter the Las Vegas Valley because the lenders that hold title have failed to keep the properties up.
The epidemic is especially acute in neighborhoods regulated by homeowners associations, whose rules require property owners to maintain their properties. Enforcement of those rules is another matter, however."
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Thanks to Monica Caruso and Fred Pilot who both sent me this. I say hold onto your hat, because this is going to be a long and difficult ride for HOA and condo owners.
Update: Fred Pilot sent a comment to this post that I am taking the liberty of cutting and pasting here in the hope that more people will see it and respond:
"Who dropped the ball? I agree with the macroeconomic analysis that nobody in particular but everyone did. The housing market was fueled by irrational exuberance and its cousin, easy terms and conditions and minimal if any underwriting by the mortgage and financial markets that purchased the underlying mortgage obligations.
"Privately governed HOAs since they tend to have much smaller property tax bases than municipalities and counties will have a far more difficult time than the latter riding out this severe market correction to wring out the excesses of cheap and easy mortgages.
"The supporters and defenders of local government privatization don't seem to understand that in addition to lacking constitutional checks and balances on their exercise of power since they are not political subdivisions of the state, privately governed HOAs also lack sufficient fiscal (and political) economies of scale to easily sustain these kinds of inevitable market cycles. At some point, the fiscal pressures can become so great that the HOA also becomes unviable as a governing entity since no one desires to govern an entity that is effectively bankrupt."
The epidemic is especially acute in neighborhoods regulated by homeowners associations, whose rules require property owners to maintain their properties. Enforcement of those rules is another matter, however."
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Thanks to Monica Caruso and Fred Pilot who both sent me this. I say hold onto your hat, because this is going to be a long and difficult ride for HOA and condo owners.
Update: Fred Pilot sent a comment to this post that I am taking the liberty of cutting and pasting here in the hope that more people will see it and respond:
"Who dropped the ball? I agree with the macroeconomic analysis that nobody in particular but everyone did. The housing market was fueled by irrational exuberance and its cousin, easy terms and conditions and minimal if any underwriting by the mortgage and financial markets that purchased the underlying mortgage obligations.
"Privately governed HOAs since they tend to have much smaller property tax bases than municipalities and counties will have a far more difficult time than the latter riding out this severe market correction to wring out the excesses of cheap and easy mortgages.
"The supporters and defenders of local government privatization don't seem to understand that in addition to lacking constitutional checks and balances on their exercise of power since they are not political subdivisions of the state, privately governed HOAs also lack sufficient fiscal (and political) economies of scale to easily sustain these kinds of inevitable market cycles. At some point, the fiscal pressures can become so great that the HOA also becomes unviable as a governing entity since no one desires to govern an entity that is effectively bankrupt."
Fishers, Fierce Predators, Make a Home in the Suburbs - NYTimes.com: "Sinewy, with bushy tails and beady eyes, fishers weigh 5 to 15 pounds and live on land and in trees. They are mainly carnivorous, typically eating squirrels, mice, voles and other small animals, as well as nuts and seeds. Fishers are also one of the porcupine’s few enemies, killing it by attacking its snout and flipping it on its back.
“Fishers are pretty vicious,” said Michelle Johnson, the animal control officer in West Greenwich.
The fisher belongs to the mustelid family, which includes weasels, otters and wolverines. It has the aggressive, carnivorous temperament of a wolverine and can climb trees like a marten. Like weasels, a fisher will kill multiple animals at a time in a confined space. Fishers are nocturnal and not easily spotted."
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These things are nasty. They can drive a bear away from his dinner. On top of the mortgage meltdown, this is obviously one of the last signs of the Apocalypse.
Sunday, June 08, 2008
Friday, June 06, 2008
Is the DC checkpoint plan unconstitutional
The Volokh Conspiracy -Orin Kerr says...: "It turns out that there's a fairly specific Fourth Amendment law of automobile checkpoints, and that we can look to those cases to see how the DC law fits in. My bottom line: I think the DC checkpoint plan is pretty clearly unconstitutional."
Wednesday, June 04, 2008
DCist: Police to Seal Off D.C. Neighborhoods: "Can you say Police State? The Examiner has the scoop on a controversial new program announced today that would create so-called 'Neighborhood Safety Zones' which would serve to partially seal off certain parts of the city. D.C. Police would set-up checkpoints in targeted areas, demand to see ID and refuse admittance to people who don't live there, work there or have a “legitimate reason” to be there."
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You have to admit it--there is something to this idea that municipalities are trying to emulate gated communities.
Report: Ed McMahon's home faces foreclosure - CNN.com
Report: Ed McMahon's home faces foreclosure - CNN.com: "LOS ANGELES, California (CNN) -- The foreclosure problems sweeping the United States apparently have ensnared Ed McMahon, who is best known as Johnny Carson's sidekick on "The Tonight Show... The newspaper reported that ReconTrust, a division of Countrywide Financial, filed a notice of default related to a loan for McMahon's house in Los Angeles County Recorder's Court on Feb. 28. It said his house has been on the market for about two years.
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They say he's $644,000 behind on his mortgage payments. I guess that would lead a lender to start thinking about foreclosure.
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They say he's $644,000 behind on his mortgage payments. I guess that would lead a lender to start thinking about foreclosure.
Tuesday, June 03, 2008
L.A. Land : Los Angeles Times : In Escondido: Buy one (house), get one free.
L.A. Land : Los Angeles Times : In Escondido: Buy one (house), get one free.: "In a sign of how difficult it is to sell new homes in Southern California right now, a San Diego developer is offering a 'buy one, get one free' deal, pairing million-dollar homes with less expensive homes."
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Pretty soon they'll be giving you a free house as an inducement to buy a tank of gas.
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Pretty soon they'll be giving you a free house as an inducement to buy a tank of gas.
Man loses home over $580 - UPI.com
Man loses home over $580 - UPI.com: "TAMPA, Fla., June 2 (UPI) -- A Florida man who fell behind on dues to his homeowners association because of illness lost his house in foreclosure over a debt of $580.
Gregory Green said the board of directors of The Glen at River Ridge near Tampa showed little compassion when they voted to foreclose on his property, the Tampa Tribune reported Monday.
While Green's case appears extreme, attorneys say many Florida homeowners are losing their homes over a few hundred dollars in delinquent homeowner assessments."
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Here is yet another example of this thing the industry keeps telling us doesn't really happen. Fred Pilot sent me the link.
Gregory Green said the board of directors of The Glen at River Ridge near Tampa showed little compassion when they voted to foreclose on his property, the Tampa Tribune reported Monday.
While Green's case appears extreme, attorneys say many Florida homeowners are losing their homes over a few hundred dollars in delinquent homeowner assessments."
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Here is yet another example of this thing the industry keeps telling us doesn't really happen. Fred Pilot sent me the link.
Thursday, May 29, 2008
New York town repeals ban on clotheslines - Yahoo! News: "The Southampton Town board has lifted a ban on clotheslines that had stood since 2002, when some homeowners complained the laundry on their neighbors' lawns was making the town look shabby."
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Fred Pilot sent this link. I guess for this town saving the galaxy comes before anti-hillbilly laws.
Wednesday, May 28, 2008
FT.com / World - US home prices fall at record pace
FT.com / World - US home prices fall at record pace: "The gloom enveloping the US housing market intensified on Tuesday as home prices dropped at the fastest annual rate since records began 20 years ago.
The Standard & Poor’s/Case Shiller national house price index fell 14.1 per cent in the first quarter of this year, compared with the same period a year earlier, a decline that threatens to delay any recovery in the broader economy."
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That's a masterpiece of understatement.
The Standard & Poor’s/Case Shiller national house price index fell 14.1 per cent in the first quarter of this year, compared with the same period a year earlier, a decline that threatens to delay any recovery in the broader economy."
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That's a masterpiece of understatement.
Tuesday, May 27, 2008
Skipped dues crunch home associations - USATODAY.com
Skipped dues crunch home associations - USATODAY.com: "AVONDALE, Ariz. — A modest housing tract, set amid pecan trees here in suburban Phoenix, faces big problems: About 40% of its homeowners aren't paying their association fees, leaving neighbors with higher assessments and reduced services"
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Thanks to Fred Pilot for this link to yet another story on HOAs taking a hit due to owners not paying assessments. CAI's Frank Rathbun is quoted as saying, "It's happening all over. It's a national problem."
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Thanks to Fred Pilot for this link to yet another story on HOAs taking a hit due to owners not paying assessments. CAI's Frank Rathbun is quoted as saying, "It's happening all over. It's a national problem."
Saturday, May 24, 2008
BBC NEWS | Programmes | From Our Own Correspondent | Local concerns over Indian utopia
BBC NEWS: Local concerns over Indian utopia: "Auroville sounds like a throwback to the 60s, advocating no rules and leaders and promising peace and harmony, but Rachel Wright hears claims of exploitation and abuse at the southern Indian community."
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Utopia never turns out to be as utopian as advertised.
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Utopia never turns out to be as utopian as advertised.
Great Wall of Fleetwood: Man builds 16ft garden wall in protest at neighbour's sun terrace ... and now it's a tourist attraction | Mail Online
Great Wall of Fleetwood: Man builds 16ft garden wall in protest at neighbour's sun terrace ... and now it's a tourist attraction | Mail Online: "After spending two months building a sun terrace on the kitchen roof of their seaside home, Dennis and Sandra Hawes settled down to enjoy the view. But not for long. Next-door neighbour Charles Hart was disgruntled that he was not consulted about the terrace, which overlooked his garden. So he decided to exact revenge - and built what is known locally as the Great Wall of Fleetwood. The view from the terrace is now obstructed by a barrier 16ft high and 26ft long between the properties in the Lancashire former fishing port. The wall has caused so much controversy that it has even become a tourist attraction, with taxi drivers pointing it out to their passengers."
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Complete with photo of very high wall and very ticked off man.
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Complete with photo of very high wall and very ticked off man.
Another HOA in decline?
News: Lawsuit pitting homeowners against subdivision manager | homeowners, kanan, plantation : TheMonitor.com: "The upscale gated community has fallen on hard times since its heady beginnings in the 1980s as a country club subdivision with streets named for characters and places in Gone with the Wind.
At the back, decrepit trailers and garden-sized shacks house families, and pricier houses are surrounded by tall weeds."
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Fred Pilot sent this link about another HOA that seems to be in decline.
At the back, decrepit trailers and garden-sized shacks house families, and pricier houses are surrounded by tall weeds."
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Fred Pilot sent this link about another HOA that seems to be in decline.
Tuesday, May 20, 2008
Canton Council proposes jail time for tall grass
Canton Council proposes jail time for tall grass: "For residents tired of that overgrown lot that resembles a minijungle next door, the city wants to help by trying to put high-grass violators behind bars.
City Council wants to beef up its existing high-grass and weeds law by making a second offense a fourth-degree misdemeanor, which is punishable by a fine of up to $250 and up to 30 days in jail."
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I guess the HOAs and condo associations may as well surrender. They can't top this.
City Council wants to beef up its existing high-grass and weeds law by making a second offense a fourth-degree misdemeanor, which is punishable by a fine of up to $250 and up to 30 days in jail."
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I guess the HOAs and condo associations may as well surrender. They can't top this.
Thursday, May 15, 2008
Reflections on recent posts
If you look over the recent posts here, you can see that the situation facing homeowners is troubling on a number of fronts.
1. Credit is tight, property values are weak, and it is harder than at any time in the recent past to borrow money or sell--at least, for a lot of people.
2. Owners who are in financial trouble with their homes aren't paying assessments, and neither are the banks when they foreclose. That means associations are hurting financially. That in turn means the solvent owners have to pay for those who are not paying.
3. And the falling property values are reducing municipal tax revenues, which is hitting municipalities and of course school districts and other units of local government.
4. The tax resistance of the average voter has to be at an all-time high. That means voters who have to approve tax increases (due to tax cap legislation in many states) will not want to bail out local governments through tax increases.
5. But we are in an election year where the Democrats figure to win big across the board, due to Bush having thoroughly discredited the Republican party. It looks like there will be gains for the Democrats in the House and Senate and in many state legislatures, and the presidential race currently favors the Democrats (although that could change quickly). The Dems in Congress, and of course Obama, have a host of costly programs in mind that will require substantial federal tax increases. Increasing taxes in the middle of an economic slowdown is bad medicine, but the voters have nothing to say about it after Election Day. If the Dems want to do it, that's that.
6. The cost of college education is going up, up, and up. So is the cost of health care. And I could go on. But pay is not going up, up, and up.
What does this all add up to? I realize the economy will turn around at some point, but the next three or four years or so should be interesting to say the least.
I think we are going to see increased conflict over taxing and spending at the local government level. I think the solvency of CIDs is going to become an issue (I have been predicting this for a long time, but now it is on the horizon). And I expect all sorts of demands for state and federal assistance for public and private local governments. But my guess is that the home-owning middle class is going to be expected to solve its own problems for the most part. As a member of that group, I'm not entirely happy with that conclusion, so please show me where I'm wrong.
If you look over the recent posts here, you can see that the situation facing homeowners is troubling on a number of fronts.
1. Credit is tight, property values are weak, and it is harder than at any time in the recent past to borrow money or sell--at least, for a lot of people.
2. Owners who are in financial trouble with their homes aren't paying assessments, and neither are the banks when they foreclose. That means associations are hurting financially. That in turn means the solvent owners have to pay for those who are not paying.
3. And the falling property values are reducing municipal tax revenues, which is hitting municipalities and of course school districts and other units of local government.
4. The tax resistance of the average voter has to be at an all-time high. That means voters who have to approve tax increases (due to tax cap legislation in many states) will not want to bail out local governments through tax increases.
5. But we are in an election year where the Democrats figure to win big across the board, due to Bush having thoroughly discredited the Republican party. It looks like there will be gains for the Democrats in the House and Senate and in many state legislatures, and the presidential race currently favors the Democrats (although that could change quickly). The Dems in Congress, and of course Obama, have a host of costly programs in mind that will require substantial federal tax increases. Increasing taxes in the middle of an economic slowdown is bad medicine, but the voters have nothing to say about it after Election Day. If the Dems want to do it, that's that.
6. The cost of college education is going up, up, and up. So is the cost of health care. And I could go on. But pay is not going up, up, and up.
What does this all add up to? I realize the economy will turn around at some point, but the next three or four years or so should be interesting to say the least.
I think we are going to see increased conflict over taxing and spending at the local government level. I think the solvency of CIDs is going to become an issue (I have been predicting this for a long time, but now it is on the horizon). And I expect all sorts of demands for state and federal assistance for public and private local governments. But my guess is that the home-owning middle class is going to be expected to solve its own problems for the most part. As a member of that group, I'm not entirely happy with that conclusion, so please show me where I'm wrong.
Wednesday, May 14, 2008
The Associated Press: U. of Okla. freshman, 19, elected mayor of Muskogee
The Associated Press: U. of Okla. freshman, 19, elected mayor of Muskogee: "MUSKOGEE, Okla. (AP) — A 19-year-old freshman at the University of Oklahoma was elected mayor Tuesday of Muskogee, a city of 38,000 in the northeastern part of the state. With all precincts reporting, John Tyler Hammons won with 70 percent of the vote over former Mayor Hershel Ray McBride, said Muskogee County Election Board Secretary Bill Bull."
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"I'm proud to be the Mayor of Muskogee,
A place where little kids can have their say.
We all ride our skateboards down at the courthouse,
And chug Red Bull while we listen to Green Day."
--with apologies to Merle Haggard
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"I'm proud to be the Mayor of Muskogee,
A place where little kids can have their say.
We all ride our skateboards down at the courthouse,
And chug Red Bull while we listen to Green Day."
--with apologies to Merle Haggard
Foreclosures filing set record in April, RealtyTrac says - May. 14, 2008
Foreclosures filing set record in April, RealtyTrac says - May. 14, 2008: "NEW YORK (CNNMoney.com) -- U.S. foreclosure filings reached a record high in April, rising almost 65% over the previous year and putting municipalities at risk by cutting into the value of taxed property, according to a study released Wednesday."
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The ripples continue to spread. Foreclosures are hurting CIDs and now municipalities, along with mortgage companies.
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The ripples continue to spread. Foreclosures are hurting CIDs and now municipalities, along with mortgage companies.
Tuesday, May 13, 2008
As Dues Dry Up, The Neighbors Pay - WSJ.com
As Dues Dry Up, The Neighbors Pay - WSJ.com: "Here's another consequence of the troubled housing market: Some homeowners associations are running low on cash."
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The problem is that for quite some time before people default on their mortgages and get foreclosed on, they stop paying assessments. After foreclosure banks usually don't pay the association either.
Nice to see the Wall Street Journal taking note of this problem that I have been writing about for quite a while now. The people who hate associations may think this is great, but it will hit owners. Why? Because of owner A doesn't pay, owners B-Z have to pay instead. That applies all the way up to association bankruptcy, appointment of a receiver, to infinity, and beyond.
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The problem is that for quite some time before people default on their mortgages and get foreclosed on, they stop paying assessments. After foreclosure banks usually don't pay the association either.
Nice to see the Wall Street Journal taking note of this problem that I have been writing about for quite a while now. The people who hate associations may think this is great, but it will hit owners. Why? Because of owner A doesn't pay, owners B-Z have to pay instead. That applies all the way up to association bankruptcy, appointment of a receiver, to infinity, and beyond.
Wednesday, May 07, 2008
Vallejo Votes For Bankruptcy - Politics News Story - KNTV | San Francisco
Vallejo Votes For Bankruptcy - Politics News Story - KNTV | San Francisco: "After nearly five hours, the Vallejo City Council voted unanimously late Tuesday night to file Chapter 9 bankruptcy protection. The city faces a $16 million deficit in the 2008-2009 budget starting July 1 and unsuccessfully negotiated with its police, firefighter and electrical workers unions for contract concessions through 2012. Public safety salaries comprise 74 percent of the city's general fund budget...Vallejo joins a small number of municipalities that have declared bankruptcy should officials decide it's their only option. Orange County declared bankruptcy in the 1990s after then-Treasurer Robert L. Citron borrowed hundreds of millions of dollars while speculating in high-risk securities investments that depended on low interest rates. The county lost $1.64 billion. Desert Hot Springs also filed for bankruptcy in 2001."
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Local governments are under considerable pressure these days. Nobody wants to pay taxes, the federal government is dumping responsibilities (unfunded mandates) on them, people move around like crazy, and the housing finance meltdown is still making big ripples.
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Local governments are under considerable pressure these days. Nobody wants to pay taxes, the federal government is dumping responsibilities (unfunded mandates) on them, people move around like crazy, and the housing finance meltdown is still making big ripples.
Backyard pizza oven cooks up trouble with community ban -- OrlandoSentinel.com
Backyard pizza oven cooks up trouble with community ban -- OrlandoSentinel.com: "An east Orange County man is using a law designed to encourage modern energy-saving devices to save his old-world backyard pizza oven.
The Waterford Lakes homeowners association told Gary Dobis the oven had to go because it breaks the community's ban on accessory structures. The group sued him in January."
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Thanks to Beth Young for this link. Check out the photo of this awesome oven.
The Waterford Lakes homeowners association told Gary Dobis the oven had to go because it breaks the community's ban on accessory structures. The group sued him in January."
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Thanks to Beth Young for this link. Check out the photo of this awesome oven.
Father who flew Jolly Roger for daughter's birthday prosecuted by council | the Daily Mail
AAARRRR, matey! Father who flew Jolly Roger for daughter's birthday prosecuted by council | the Daily Mail: "One particular pirate prop was a must for David Waterman as he organised a themed party for his daughter's birthday.
With cutlass-wielding youngsters running around in eye patches, he thought, a Jolly Roger flag would add the perfect finishing touch - and he duly hung the Skull and Crossbones from the side of the family home.
Unfortunately the local council didn't see the jolly side and Mr Waterman has been threatened with prosecution unless he removes the 5ft by 3ft banner."
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Flag banning: it's not just for HOAs anymore.
With cutlass-wielding youngsters running around in eye patches, he thought, a Jolly Roger flag would add the perfect finishing touch - and he duly hung the Skull and Crossbones from the side of the family home.
Unfortunately the local council didn't see the jolly side and Mr Waterman has been threatened with prosecution unless he removes the 5ft by 3ft banner."
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Flag banning: it's not just for HOAs anymore.
Confirmed! Bureaucrats have no sense of humor, funny stop signs nixed - Autoblog
Oak Lawn, IL, comes up with a creative policy that the Illinois Dept. of Transportation sadly decides to rain on.
Tuesday, May 06, 2008
The Housing Crisis Is Over - WSJ.com
The Housing Crisis Is Over - WSJ.com: "The dire headlines coming fast and furious in the financial and popular press suggest that the housing crisis is intensifying. Yet it is very likely that April 2008 will mark the bottom of the U.S. housing market. Yes, the housing market is bottoming right now.
How can this be? For starters, a bottom does not mean that prices are about to return to the heady days of 2005. That probably won't happen for another 15 years. It just means that the trend is no longer getting worse, which is the critical factor."
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I hope this writer has it figured out, but there are isn't one housing market. There are many different geographical areas and within each there are sub-markets for different types of housing and price ranges. It may be that we have hit bottom in the aggregate, but is that true of the entire Sun Belt?
How can this be? For starters, a bottom does not mean that prices are about to return to the heady days of 2005. That probably won't happen for another 15 years. It just means that the trend is no longer getting worse, which is the critical factor."
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I hope this writer has it figured out, but there are isn't one housing market. There are many different geographical areas and within each there are sub-markets for different types of housing and price ranges. It may be that we have hit bottom in the aggregate, but is that true of the entire Sun Belt?
CCTV boom has failed to slash crime, say police | UK news | The Guardian
CCTV boom has failed to slash crime, say police | UK news | The GuardianMassive investment in CCTV cameras to prevent crime in the UK has failed to have a significant impact, despite billions of pounds spent on the new technology, a senior police officer piloting a new database has warned. Only 3% of street robberies in London were solved using CCTV images, despite the fact that Britain has more security cameras than any other country in Europe.
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That seems counter-intuitive, but if you look at the recommendations from Scotland Yard, the problem may be related to difficulty in identifying people on the videos.
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That seems counter-intuitive, but if you look at the recommendations from Scotland Yard, the problem may be related to difficulty in identifying people on the videos.
Friday, May 02, 2008
BBC NEWS | UK | UK Politics | Johnson wins London mayoral race
BBC NEWS | UK | UK Politics | Johnson wins London mayoral race
Boris Johnson has won the race to become the next mayor of London - ending Ken Livingstone's eight-year reign at City Hall.
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It is high time that "Red Ken" was sent packing. The last place you want a raving Socialist is as the mayor of a big city. Better to stick them in the national legislature where they can't do so much harm (see Bernie Sanders, D-People's Republic of Vermont) and where they might contribute a good idea every now and then (Red Bernie hasn't done that yet, but where there is life, there is hope).
Boris Johnson has won the race to become the next mayor of London - ending Ken Livingstone's eight-year reign at City Hall.
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It is high time that "Red Ken" was sent packing. The last place you want a raving Socialist is as the mayor of a big city. Better to stick them in the national legislature where they can't do so much harm (see Bernie Sanders, D-People's Republic of Vermont) and where they might contribute a good idea every now and then (Red Bernie hasn't done that yet, but where there is life, there is hope).
Need to deal with water needs crucial
Need to deal with water needs crucial: "Two parched years - punctuated by the driest spring in at least 150 years - could force districts across California to ration water this summer as policymakers and scientists grow increasingly concerned that the state is on the verge of a long-term drought. State water officials reported Thursday that the Sierra Nevada snowpack, the source of a huge portion of California's water supply, was only 67 percent of normal, due in part to historically low rainfall in March and April. With many reservoirs at well-below-average levels from the previous winter and a federal ruling limiting water pumped from the Sacramento-San Joaquin River Delta, the new data added a dimension to a crisis already complicated by crumbling infrastructure, surging population and environmental concerns."
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Much of the recent residential construction in California has been in these bizarre CIDs in the desert--Palmdale, Lancaster, and points east that are even more arid. These places are too far from employment for any rational human to commute from, but people have been buying them anyway and driving four hours per day. The theory apparently was that they were going to get rich on housing appreciation. Now the housing market is in the tank. Gas prices are going through the roof. And on top of that, the water supply is vanishing. At what point to people get the basic point that it isn't wise to build, much less buy, housing in such remote and desolate locations?
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Much of the recent residential construction in California has been in these bizarre CIDs in the desert--Palmdale, Lancaster, and points east that are even more arid. These places are too far from employment for any rational human to commute from, but people have been buying them anyway and driving four hours per day. The theory apparently was that they were going to get rich on housing appreciation. Now the housing market is in the tank. Gas prices are going through the roof. And on top of that, the water supply is vanishing. At what point to people get the basic point that it isn't wise to build, much less buy, housing in such remote and desolate locations?
Wednesday, April 30, 2008
wcbstv.com - New Jersey Lawmakers Consider Tax On Fast Food
wcbstv.com - New Jersey Lawmakers Consider Tax On Fast Food: "WINDSOR, N.J. (CBS) ― The sputtering economy has caused an increase in prices of many staples including gasoline, rice, ice cream, even beer. Now some lawmakers in New Jersey are considering taking food taxes a step further and install a proverbial 'sin' tax on fast food."
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That would hit lower income people pretty hard, because they spend a higher percentage of their income on food generally and fast food in particular. Add that to the taxes on cigarettes and alcohol and the state lottery (of course New Jersey has one: "Give Your Dreams a Chance!"), and you have some pretty regressive taxes that liberals like, I guess.
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That would hit lower income people pretty hard, because they spend a higher percentage of their income on food generally and fast food in particular. Add that to the taxes on cigarettes and alcohol and the state lottery (of course New Jersey has one: "Give Your Dreams a Chance!"), and you have some pretty regressive taxes that liberals like, I guess.
L.A. Land : Los Angeles Times : Disappearing now: $6 trillion in housing wealth
L.A. Land : Los Angeles Times : Disappearing now: $6 trillion in housing wealth: "A Washington think tank is warning that housing prices are falling at an accelerating level,destroying wealth at a pace that will cost the average homeowner $85,000 in lost wealth this year alone."
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You know, if you lose $6 trillion here, and $6 trillion there, pretty soon it starts to add up.
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You know, if you lose $6 trillion here, and $6 trillion there, pretty soon it starts to add up.
Happy farewell to 'boom' times -- baltimoresun.com
Happy farewell to 'boom' times -- baltimoresun.com: "For more than two years, the thundering booms and the blinding flashes that lit up the sky over a Baltimore County parking lot at all hours of the night mystified and infuriated the bleary-eyed residents of a high-end condominium tower next door, who could not figure out what the devil was making such a racket, or why."
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The photo shows Galdalf casting out demons or something. But the problem was a condo resident shooting fireworks out his window for giggles.
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The photo shows Galdalf casting out demons or something. But the problem was a condo resident shooting fireworks out his window for giggles.
Monday, April 28, 2008
Weekend America: Foreclosure Behind Las Vegas Gates
Weekend America: Foreclosure Behind Las Vegas Gates: "Just recently in Las Vegas, there was a perfect storm of booming home construction, some unscrupulous lending practices and lots of housing speculation by first-time investors. That's added up to some of the nation's highest foreclosure rates. It's easy to find those neighborhoods hit the hardest by the real estate crisis -- just look for the nicest communities surrounded by brick walls and elegant wrought-iron gates."
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Fred Pilot sent this link. The ripples keep on spreading.
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Fred Pilot sent this link. The ripples keep on spreading.
San Mateo Daily News
Smoldering Dispute: San Mateo Daily News: "Susie Parano, 55, and Jane Clusin, her friend and fellow Brittan Heights condominium complex resident, took their smoking complaints to their homeowners' association last week by submitting a petition against allowing residents to smoke inside their units and on their balconies and patios. The two women said the petition forwarded to the homeowners' association board on Wednesday was signed by about half of the residents in the more than 400-unit complex. However, the board did not take any action. Parano lost a small claims case against the homeowners' association last November in which she sought $7,500 in damages that she said was caused by her downstairs neighbor Oleg Gitin's smoking. The small claims judge did not give a reason for her ruling. The San Carlos City Council has also been reluctant to intervene with a Belmont-style smoking ban."
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Thanks to Kimberley Cane for this item. Smoking is a huge issue in condos these days. These owners seem to have tried everything.
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Thanks to Kimberley Cane for this item. Smoking is a huge issue in condos these days. These owners seem to have tried everything.
Real Estate | New state law requires condo associations to report money set aside for long-term maintenance | Seattle Times Newspaper
Real Estate | New state law requires condo associations to report money set aside for long-term maintenance | Seattle Times Newspaper: "Attention, condominium shoppers: Washington soon will become one of a half-dozen states requiring condo associations to provide a financial-wellness check that can predict whether the place is a potential money pit.
The check, called a reserve study, estimates how much money an association must set aside to pay for expensive long-term maintenance, such as repaving a parking lot, replacing a roof or rebuilding rotting decks."
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It is astounding to contemplate that over 40 states don't require reserve studies to be done. Imagine it--nearly all associations have no specific data to support their assessment levels. Too high? Too low? Nobody really knows.
The check, called a reserve study, estimates how much money an association must set aside to pay for expensive long-term maintenance, such as repaving a parking lot, replacing a roof or rebuilding rotting decks."
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It is astounding to contemplate that over 40 states don't require reserve studies to be done. Imagine it--nearly all associations have no specific data to support their assessment levels. Too high? Too low? Nobody really knows.
Saturday, April 26, 2008
cbs4.com - Condo Assessments Can Be A Scourge To A Homeowner: "FT. LAUDERDALE (CBS4) ― A raging dispute over condo association fees boiled over into an armed standoff Thursday afternoon in Pompano Beach that ended when the Broward Sheriff's Office SWAT team opened fire on a man who had taken two office workers hostage."
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So now he can forget about paying that assessment. But it underscores how much stress these situations can create.
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So now he can forget about paying that assessment. But it underscores how much stress these situations can create.
Daily Herald | Associations need to face troubled times square on: "If you own a home in a townhouse or condominium association, or an HOA, or serve on the board, and you fail to take into consideration what could possibly befall you without careful planning, you could be facing a financial crisis that could cause property values to crash, in your community."
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Hey, this guy sounds like me. But actually it is Jordan Shifrin, one of the top community association practitioners in Illinois, or the nation for that matter.
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Hey, this guy sounds like me. But actually it is Jordan Shifrin, one of the top community association practitioners in Illinois, or the nation for that matter.
Food Crisis Starts Eclipsing Climate Change Worries | The New York Sun
Food Crisis Starts Eclipsing Climate Change Worries | The New York Sun: "With prices for rice, wheat, and corn soaring, food-related unrest has broken out in places such as Haiti, Indonesia, and Afghanistan. Several countries have blocked the export of grain. There is even talk that governments could fall if they cannot bring food costs down.
One factor being blamed for the price hikes is the use of government subsidies to promote the use of corn for ethanol production. An estimated 30% of America’s corn crop now goes to fuel, not food."
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I have learned over the years that there are few things more dangerous than a lot of people who are absolutely convinced that they are right and will brook no disagreement. As in "The debate is over" from Al Gore and the global warming mob. Here is what Al Gore said on his campaign web page back in 2000:
Vice President Al Gore maintains that “it’s well known that I’ve always supported ethanol. I have a consistent record of shoring up the farm safety net.” Gore, who as vice president cast a tie-breaking vote in 1994 against a proposal Senator Bill Bradley sponsored to cut tax incentives for ethanol fuel, adds that “I have not ducked when votes for ... agricultural interests were on the floor...Our administration’s goal is to triple the use of biomass technologies, ethanol, gasoline additives, plant-based textiles and other environmentally friendly products by 2010. This is just one of the exciting ways our efforts to protect the environment will begin to help America’s ailing farming economy.”
Now it turns out that burning food for fuel may be a bad idea. Where is Mr. Gore to explain why he was so wrong, and maybe to show a little humility about his other pronouncements on what we must do to stave off the disaster he predicts? I am concerned about the environment, too, but I also realize that there is a whole lot nobody knows and we had better not start adopting radical solutions until we are sure of the outcomes.
One factor being blamed for the price hikes is the use of government subsidies to promote the use of corn for ethanol production. An estimated 30% of America’s corn crop now goes to fuel, not food."
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I have learned over the years that there are few things more dangerous than a lot of people who are absolutely convinced that they are right and will brook no disagreement. As in "The debate is over" from Al Gore and the global warming mob. Here is what Al Gore said on his campaign web page back in 2000:
Vice President Al Gore maintains that “it’s well known that I’ve always supported ethanol. I have a consistent record of shoring up the farm safety net.” Gore, who as vice president cast a tie-breaking vote in 1994 against a proposal Senator Bill Bradley sponsored to cut tax incentives for ethanol fuel, adds that “I have not ducked when votes for ... agricultural interests were on the floor...Our administration’s goal is to triple the use of biomass technologies, ethanol, gasoline additives, plant-based textiles and other environmentally friendly products by 2010. This is just one of the exciting ways our efforts to protect the environment will begin to help America’s ailing farming economy.”
Now it turns out that burning food for fuel may be a bad idea. Where is Mr. Gore to explain why he was so wrong, and maybe to show a little humility about his other pronouncements on what we must do to stave off the disaster he predicts? I am concerned about the environment, too, but I also realize that there is a whole lot nobody knows and we had better not start adopting radical solutions until we are sure of the outcomes.
cbs2.com - Countrywide CEO Made $132M In 2007 Pay, Stock Sale
cbs2.com - Countrywide CEO Made $132M In 2007 Pay, Stock Sale: "CALABASAS, Calif. (AP) ― A securities filing shows Countrywide Financial Corp. CEO Angelo Mozilo earned some $10.8 million in total compensation and cashed out $121.5 million in stock options last year. The compensation disclosed in the Securities and Exchange Commission filing released Thursday represents an 80 percent cut from the 70-year-old's total pay in 2006 of about $51 million. The Calabasas-based company reported a yearly loss in 2007 of $704 million amid the nationwide mortgage market meltdown. It agreed in January to be acquired by Bank of America Corp. for $4.1 billion in stock. The SEC has been scrutinizing the timing of Mozilo's stock sales. Mozilo has said he's cooperating with the inquiry and has denied making any improper trades."
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I don't usually get on the evil corporate executive hobbyhorse, but it seems to me that when a company loses a bazillion dollars and gets bought out, the CEO may not deserve to get fabulously wealthy in the very same year. I keep hearing about how great a job the free market does of setting prices for goods, services and labor, but I don't see the relationship between results and rewards here.
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I don't usually get on the evil corporate executive hobbyhorse, but it seems to me that when a company loses a bazillion dollars and gets bought out, the CEO may not deserve to get fabulously wealthy in the very same year. I keep hearing about how great a job the free market does of setting prices for goods, services and labor, but I don't see the relationship between results and rewards here.
Friday, April 25, 2008
4 Investigates: Floodwalls stuffed with newspaper? | News for New Orleans, Louisiana | Local News | WWLTV.com | News for New Orleans, Louisiana
We're from the federal government, and we're here to help you: New Orleans floodwalls stuffed with newspaper? : "“It's like putting a Band-Aid on the hole of a gas tank of an airplane,” the resident said.
Instead of an airplane, it's a floodwall, and instead of a Band-Aid, the witness says two years ago, he saw the contractor filling the expansion joint or opening between the floodwalls with newspaper.
“The whole length of the wall was stuffed with newspaper.”"
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This is how the feds show New Orleans that they really, really, care?
Instead of an airplane, it's a floodwall, and instead of a Band-Aid, the witness says two years ago, he saw the contractor filling the expansion joint or opening between the floodwalls with newspaper.
“The whole length of the wall was stuffed with newspaper.”"
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This is how the feds show New Orleans that they really, really, care?
Humans lived in tiny, separate bands for 100,000 years
Humans lived in tiny, separate bands for 100,000 years: "Human beings for 100,000 years lived in tiny, separate groups, facing harsh conditions that brought them to the brink of extinction, before they reunited and populated the world, genetic researchers have said."
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Let's see...tiny, separate bands. Check. Facing harsh conditions. Check. So far it sounds like either a lot of HOAs or Chicago's sports teams.
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Let's see...tiny, separate bands. Check. Facing harsh conditions. Check. So far it sounds like either a lot of HOAs or Chicago's sports teams.
Why the next mortgage crisis may be worse. - By Mark Gimein - Slate Magazine
Why the next mortgage crisis may be worse. - By Mark Gimein - Slate Magazine: "Unfortunately, the crisis in California is going to get much worse, and there is no bailout that will solve it. Why? Because if the first stage of the foreclosure crisis was about people who could not afford their mortgages, the next stage will be about people who have every reason not even to try to pay their mortgages."
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His argument is that prices are collapsing big time, and tens of thousands of people who had ARMs with little or nothing down will be upside down on their mortgages by far more than any government bailout can cure, and with no equity to protect anyway. The only rational option open to them is to walk away.
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His argument is that prices are collapsing big time, and tens of thousands of people who had ARMs with little or nothing down will be upside down on their mortgages by far more than any government bailout can cure, and with no equity to protect anyway. The only rational option open to them is to walk away.
Wednesday, April 23, 2008
Condominium controversy: Mundy Township couple sue their condo association over $30,000 lien involved in Web site debate - The Flint Journal Online News - Michigan Newspaper - MLive.com
Condominium controversy: Mundy Township couple sue their condo association over $30,000 lien involved in Web site debate - The Flint Journal Online News - Michigan Newspaper - MLive.com: "MUNDY TOWNSHIP, Michigan -- When a judge dismissed a condominium association's lawsuit against a condo-owning couple for starting a Web site related to the association, the pair hoped their trouble was over.
Instead, the Lake Park Village Condominium Association has slapped a $30,000 lien on James and Helen Cunningham's home -- including the attorney's fees the association paid to sue the couple.
The Cunninghams now face possible foreclosure on their condo."
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That will teach those homeowners to beat the association in court. Good grief.
Instead, the Lake Park Village Condominium Association has slapped a $30,000 lien on James and Helen Cunningham's home -- including the attorney's fees the association paid to sue the couple.
The Cunninghams now face possible foreclosure on their condo."
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That will teach those homeowners to beat the association in court. Good grief.
The Orillia Packet & Times - Ontario, CA
The Orillia Packet & Times - Ontario, CA: Community association granted party status: "A group of homeowners objecting to the scale of a proposed high-rise condominium project at Orchard Point on Lake Simcoe has been granted full party status before the Ontario Municipal Board.
That means the Orchard Point Community Association, which represents 40 to 50 people, will be able to fully participate in the legal proceeding with the ability to cross-examine, call witnesses and make submissions."
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Interesting variation on local ordinances in Canada.
That means the Orchard Point Community Association, which represents 40 to 50 people, will be able to fully participate in the legal proceeding with the ability to cross-examine, call witnesses and make submissions."
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Interesting variation on local ordinances in Canada.
Tuesday, April 22, 2008
TorontoSun.com - Canada- Ban lifted on drying laundry outside
TorontoSun.com - Canada- Ban lifted on drying laundry outside: "It's time to get over any hang ups with clotheslines.
Ontario will outlaw clothesline bans by this summer to encourage citizens to use the environmentally friendly option when doing laundry.
'We want you to feel comfortable, wherever you happen to live in the province of Ontario, to put up a clothesline and to let mother nature, let the wind and the sun, dry your clothing,' Premier Dalton McGuinty said yesterday.
Homeowners would no longer be subject to municipal bylaws or homebuilder agreements that ban the lines."
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Ontario hangs HOAs out to dry.
Ontario will outlaw clothesline bans by this summer to encourage citizens to use the environmentally friendly option when doing laundry.
'We want you to feel comfortable, wherever you happen to live in the province of Ontario, to put up a clothesline and to let mother nature, let the wind and the sun, dry your clothing,' Premier Dalton McGuinty said yesterday.
Homeowners would no longer be subject to municipal bylaws or homebuilder agreements that ban the lines."
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Ontario hangs HOAs out to dry.
Monday, April 21, 2008
Bloomberg.com: Worldwide
Bloomberg.com: Worldwide: "April 21 (Bloomberg) -- Bank of America Corp., the second- largest U.S. bank, said profit dropped for a third straight quarter as the company set aside $6.01 billion for bad loans.
First-quarter net income declined 77 percent to $1.21 billion from $5.26 billion a year earlier, the Charlotte, North Carolina-based bank said today in a statement. The results fell short of analysts' estimates and sent the bank's stock down as much as 3 percent in New York trading."
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This bad news just keeps on coming. Where is the bottom?
First-quarter net income declined 77 percent to $1.21 billion from $5.26 billion a year earlier, the Charlotte, North Carolina-based bank said today in a statement. The results fell short of analysts' estimates and sent the bank's stock down as much as 3 percent in New York trading."
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This bad news just keeps on coming. Where is the bottom?
Friday, April 18, 2008
New York Times Company Posts Loss - New York Times
New York Times Company Posts Loss - New York Times: "The New York Times Company, the parent of The New York Times, posted a $335,000 loss in the first quarter — one of the worst periods the company and the newspaper industry have seen — falling far short of both analysts’ expectations and its $23.9 million profit in the quarter a year earlier."
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Newspapers are in trouble. Competition from the internet is one reason. You can get tons of news, tailored to your interests and viewpoints, for free.
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Newspapers are in trouble. Competition from the internet is one reason. You can get tons of news, tailored to your interests and viewpoints, for free.
Foreclosed properties stiffing homeowner, condo associations
Foreclosed properties stiffing homeowner, condo associations: "An ironic twist on the foreclosure problem: What if the banks that repossess all those houses and condos for non-payment are none-too-strict about making their homeowner and condo association payments?
That seems to be a widespread problem in Florida, according to a survey of associations released this week. Here's a snippet:
Nearly two-thirds of survey participants said that banks and mortgage lenders now holding title to the foreclosed units or homes currently are not meeting their legal obligation to pay fees or other assessments owing to the association"
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So I guess the association has to foreclose on the bank that foreclosed on the owner?
That seems to be a widespread problem in Florida, according to a survey of associations released this week. Here's a snippet:
Nearly two-thirds of survey participants said that banks and mortgage lenders now holding title to the foreclosed units or homes currently are not meeting their legal obligation to pay fees or other assessments owing to the association"
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So I guess the association has to foreclose on the bank that foreclosed on the owner?
globeandmail.com: Vancouver transit riders tasered for not paying fares
globeandmail.com: Vancouver transit riders tasered for not paying fares: "VANCOUVER — The country's only armed transit police have been tasering passengers who try to avoid paying fares.
According to documents provided in response to a Freedom of Information request, police patrolling public transit in the Metro Vancouver area have used tasers 10 times in the past 18 months, including five occasions when victims had been accosted for riding free."
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Ouch.
According to documents provided in response to a Freedom of Information request, police patrolling public transit in the Metro Vancouver area have used tasers 10 times in the past 18 months, including five occasions when victims had been accosted for riding free."
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Ouch.
My Way News - 5.4 earthquake rocks Illinois; felt 450 miles away: "WEST SALEM, Ill. (AP) - A 5.4 magnitude earthquake that appeared to rival the strongest recorded in the region rocked people up to 450 miles away early Friday, surprising residents unaccustomed to such a powerful Midwest temblor.
The quake just before 4:37 a.m. was centered six miles from West Salem, Ill., and 66 miles from Evansville, Ind. It was felt in such distant cities as Chicago, Cincinnati, Milwaukee, and Des Moines, Iowa, 450 miles northwest of the epicenter, but there were no early reports of injuries or significant damage."
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This woke me up. At first I thought wind was rocking the house, but then I realized it must be an earthquake. I've been through quite a number of these in California so I just went back to sleep. None of the kids even woke up. But for the Chicago area, this is quite an event.
The quake just before 4:37 a.m. was centered six miles from West Salem, Ill., and 66 miles from Evansville, Ind. It was felt in such distant cities as Chicago, Cincinnati, Milwaukee, and Des Moines, Iowa, 450 miles northwest of the epicenter, but there were no early reports of injuries or significant damage."
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This woke me up. At first I thought wind was rocking the house, but then I realized it must be an earthquake. I've been through quite a number of these in California so I just went back to sleep. None of the kids even woke up. But for the Chicago area, this is quite an event.
Wednesday, April 16, 2008
Senate OKs sweeping property insurance changes -- South Florida Sun-Sentinel.com
Senate OKs sweeping property insurance changes -- South Florida Sun-Sentinel.com
I like this bill, but it looks like it won't pass in the House. Insurance coverage is very important to community associations and owners. If the coverage isn't there when you need it, a whole chain of horrible events ensues.
I like this bill, but it looks like it won't pass in the House. Insurance coverage is very important to community associations and owners. If the coverage isn't there when you need it, a whole chain of horrible events ensues.
Tuesday, April 15, 2008
Huge state quake predicted within 30 years
Huge state quake predicted within 30 years: "(04-14) 11:32 PDT SAN FRANCISCO -- A strong and deadly earthquake is virtually certain to strike on one of California's major seismic faults within the next 30 years, scientists said Monday in the first official forecast of statewide earthquake probabilities. They calculated the probability at more than 99 percent that one or more of the major faults in the state will rupture and trigger a quake with a magnitude of at least 6.7. An even more damaging quake with a magnitude of 7.5 or larger, the earthquake scientists said, is at least 46 percent likely to hit on one of California's active fault systems within the next three decades. It probably would strike in the southern part of the state, the scientists warned."
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I guess anything that is left after the foreclosure epidemic passes will be cast into the sea by The Big One. The Ventura earthquake damaged a lot of CID units, especially condo buildings, and led to lawsuits among insurers, contractors, and associations. It is hard to envision what would happen if another major disaster hit CID housing in its weakened state, with numerous owners not paying assessments and property values falling.
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I guess anything that is left after the foreclosure epidemic passes will be cast into the sea by The Big One. The Ventura earthquake damaged a lot of CID units, especially condo buildings, and led to lawsuits among insurers, contractors, and associations. It is hard to envision what would happen if another major disaster hit CID housing in its weakened state, with numerous owners not paying assessments and property values falling.
Punditry | Professor Bainbridge
Punditry | Professor Bainbridge on Barack Obama: Is he a Marxist?
Law prof Stephen Bainbridge on how far to left is Obama?
Law prof Stephen Bainbridge on how far to left is Obama?
Monday, April 14, 2008
As other staples soar, potatoes break new ground | Reuters
As other staples soar, potatoes break new ground | Reuters
I was thinking that if some of these rust belt cities like Youngstown (see below) decide to clear away the burned out houses maybe they could use the land to plant potatoes. Just a thought.
I suppose setting up a factory on that land is out of the question. After all, China has such an advantage, being so much closer to the US market. China is a mere 7,000 miles or so away. How can a distant province like Youngstown, Ohio, possibly compete for sales in the American heartland?
Meaning that maybe there is a better way to revive the local economy than knocking down houses, asking people to move out, and making more open space.
I was thinking that if some of these rust belt cities like Youngstown (see below) decide to clear away the burned out houses maybe they could use the land to plant potatoes. Just a thought.
I suppose setting up a factory on that land is out of the question. After all, China has such an advantage, being so much closer to the US market. China is a mere 7,000 miles or so away. How can a distant province like Youngstown, Ohio, possibly compete for sales in the American heartland?
Meaning that maybe there is a better way to revive the local economy than knocking down houses, asking people to move out, and making more open space.
U.S. housing collapse spreads overseas - International Herald Tribune
U.S. housing collapse spreads overseas - International Herald Tribune: "The collapse of the housing bubble in the United States is mutating into a global phenomenon, with real estate prices down from the Irish countryside and the Spanish coast to Baltic seaports and even in parts of India."
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I wonder if common interest housing in other nations will have the same revenue issues that are now hitting many US CIDs. Here everything ultimately depends on the individual owners. Even though CIDs are quasi-public entities, the cost is entirely privatized. Elsewhere, maybe the state will step up to keep these things solvent.
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I wonder if common interest housing in other nations will have the same revenue issues that are now hitting many US CIDs. Here everything ultimately depends on the individual owners. Even though CIDs are quasi-public entities, the cost is entirely privatized. Elsewhere, maybe the state will step up to keep these things solvent.
The incredible shrinking city - Apr. 14, 2008: "YOUNGSTOWN, Ohio (CNNMoney.com) -- Youngstown, Ohio, has seen its population shrink by more than half over the past 40 years, leaving behind huge swaths of empty homes, streets and neighborhoods. Now, in a radical move, the city - which has suffered since the steel industry left town and jobs dried up - is bulldozing abandoned buildings, tearing up blighted streets and converting entire blocks into open green spaces. More than 1,000 structures have been demolished so far. Under the initiative, dubbed Plan 2010, city officials are also monitoring thinly-populated blocks. When only one or two occupied homes remain, the city offers incentives - up to $50,000 in grants - for those home owners to move, so that the entire area can be razed. The city will save by cutting back on services like garbage pick-ups and street lighting in deserted areas."
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Kind of a strange twist on eminent domain...I have never heard of a city paying people to move out so they can plow the house under. It is a sad situation. The foreclosure tsunami was the last straw. Read down and you will see that other rust belt cities are sending delegations to learn the Path of Wisdom as laid down by the Elders of Youngstown.
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Kind of a strange twist on eminent domain...I have never heard of a city paying people to move out so they can plow the house under. It is a sad situation. The foreclosure tsunami was the last straw. Read down and you will see that other rust belt cities are sending delegations to learn the Path of Wisdom as laid down by the Elders of Youngstown.
Sunday, April 13, 2008
Spindle could be yours for just $150,000 :: CHICAGO SUN-TIMES :: Metro & Tri-State
Spindle could be yours for just $150,000 :: CHICAGO SUN-TIMES :: Metro & Tri-StateBerwyn's Spindle -- the west suburban skewer of cars made famous in the movie "Wayne's World" -- is for sale. Last summer, the company that operates the shopping plaza where the Spindle has stood since 1989 said the sculpture needed to be removed, in part to make room for a new Walgreens.
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This is totally bogus, dude. That spindle is one of the few cool things about the west side suburbs. I used to go to that mall all the time when we lived in Oak Park. Sigh.
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This is totally bogus, dude. That spindle is one of the few cool things about the west side suburbs. I used to go to that mall all the time when we lived in Oak Park. Sigh.
Tuesday, April 08, 2008
Bloomberg.com: Exclusive
Bloomberg.com: Exclusive: Concerns about the big bank holding companies: "April 8 (Bloomberg) -- Bank holding companies including Citigroup Inc., Bank of America Corp. and Wells Fargo & Co. have the thinnest safety cushion against losses in seven years. The margin may erode further in coming weeks. Credit ratings on $704 billion of bonds have been cut this year following the collapse of the U.S. housing market. Sheila Bair, chairman of the Federal Deposit Insurance Corp., said last week that the downgrades may compromise bank capital ratios enough that some of the largest institutions will no longer be considered well capitalized. Falling below a regulatory benchmark that is intended to maintain a minimum level of capital to protect depositors against losses would subject banks to more scrutiny from regulators than they have ever experienced. ``This is a nightmare for the country,'' said William Isaac, who was chairman of the FDIC from 1981 to 1985. Banks will ``raise what capital they can, then they'll slow down their growth and stop lending, and what should be a mild recession becomes a much more serious one.'' The biggest danger to the economy is that to preserve their ratios, banks will cut off the flow of credit, causing a decline in loans to companies and consumers."
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Can we panic yet?
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Can we panic yet?
MM08-11.pdf (application/pdf Object)
California Law Revision Commission comments on pending legislation
Here you will find CLRC's comments on AB 1921 and also the CID Bureau bill.
Here you will find CLRC's comments on AB 1921 and also the CID Bureau bill.
Monday, April 07, 2008
Comment from Brian Hebert, Executive Director of CLRC
Scroll or click down to where I posted a link to California A.B. 1921and go the comments, and you will find a lengthy comment from Brian Hebert in which he responds to some of Donie Vanitzian's main points. I appreciate Brian taking the time to do this. I will follow his suggestion and post a link to the version of the bill he recommends.
Scroll or click down to where I posted a link to California A.B. 1921and go the comments, and you will find a lengthy comment from Brian Hebert in which he responds to some of Donie Vanitzian's main points. I appreciate Brian taking the time to do this. I will follow his suggestion and post a link to the version of the bill he recommends.
The Daily Times - www.delmarvanow.com - Salisbury, Md.
The Daily Times - www.delmarvanow.com - Salisbury, Md: Property manager pleads guilty.
OCEAN CITY — An Ocean City woman has pleaded guilty to stealing more than $19,000 from a homeowner's association she was hired to manage. Sixty-nine-year-old Marsha Renfrow was the manager and treasurer of the Sundowner Park Association from 1992-2006.
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Seems like the worse the economy gets the more property managers decide to rip off their clients.
OCEAN CITY — An Ocean City woman has pleaded guilty to stealing more than $19,000 from a homeowner's association she was hired to manage. Sixty-nine-year-old Marsha Renfrow was the manager and treasurer of the Sundowner Park Association from 1992-2006.
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Seems like the worse the economy gets the more property managers decide to rip off their clients.
Sunday, April 06, 2008
Police: Woman Stabs Husband During Fight Over Hot Dogs For Dinner - Orlando News Story - WKMG Orlando
Police: Woman Stabs Husband During Fight Over Hot Dogs For Dinner - Orlando News Story - WKMG Orlando: "RANGE COUNTY, Fla. -- A 28-year-old woman in Orange County stabbed her husband during a fight that sparked over having hot dogs for dinner, according to a sheriff's office report."
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I notice that this took place in Florida. Is there something in the water down there? Or maybe it's something in the hot dogs.
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I notice that this took place in Florida. Is there something in the water down there? Or maybe it's something in the hot dogs.
'Ruthlessness gene' discovered : Nature News
'Ruthlessness gene' discovered : Nature News: "Selfish dictators may owe their behaviour partly to their genes, according to a study that claims to have found a genetic link to ruthlessness. The study might help to explain the money-grabbing tendencies of those with a Machiavellian streak — from national dictators down to 'little Hitlers' found in workplaces the world over."
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I wonder what sorts of social roles these "little Hitlers" are attracted to? Probably positions where they can have power over people and can make their lives miserable, and where they have few if any checks on that power. Let's see...where might we find positions like that?
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I wonder what sorts of social roles these "little Hitlers" are attracted to? Probably positions where they can have power over people and can make their lives miserable, and where they have few if any checks on that power. Let's see...where might we find positions like that?
In Web World of 24/7 Stress, Writers Blog Till They Drop - New York Times
In Web World of 24/7 Stress, Writers Blog Till They Drop - New York Times: "A growing work force of home-office laborers and entrepreneurs, armed with computers and smartphones and wired to the hilt, are toiling under great physical and emotional stress created by the around-the-clock Internet economy that demands a constant stream of news and comment."
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Blogging for pay--the new indentured servitude. Apparently they are getting fat or skinny, can't sleep, have no social life, and drop dead from heart attacks. Could it be that living on Red Bull and Doritos and staring at a computer screen 20 hours every day is bad for you?
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Blogging for pay--the new indentured servitude. Apparently they are getting fat or skinny, can't sleep, have no social life, and drop dead from heart attacks. Could it be that living on Red Bull and Doritos and staring at a computer screen 20 hours every day is bad for you?
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