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Tip Freedomwat.ch Staff with Bitcoin
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Karen DeCoster Discusses Anarcho-Detroit
Tag Archives: Property/Assets/Rights
Mark Thornton on Skyscrapers in ‘Le Monde’
“In a feature from the business section entitled ‘Les villes chinoises veulent toutes leurs gratte-ciel géants,’ Le Monde takes note of the phenomenon that is the skyscraper-dense Chinese city, and specifically, the completion of Shanghai Tower, now one of the tallest buildings in Asia. Mark Thornton, economist at the Mises Institute in Auburn (United States), and author of research on the correlation between the race skyward and the advent of large crises, warns: ‘The construction of skyscrapers is a precursor to economic disorders’…’The skyscrapers are just one symptom of the government’s extravagant economic policies.'”
http://bastiat.mises.org/2013/08/mark-thornton-on-skyscrapers-in-le-monde/
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Learn Bobby Tay’s $2.7 Trillion Sigma Secret
“His company was so impressive to the Arabs that they sent Mr. Tay home with $100 million to invest in Singapore’s industrial-property market. Sabana is a shari’ah-compliant REIT, meaning it adheres to Islamic financial principles. That’s appealing to a large swath of the Middle East that is eager to find a place outside the U.S. and Europe to put money to work. Singapore is a natural destination because of the safety of the banking system and the surety of the legal system. In 2011, an estimated $2.7 trillion was looking for a shari’ah-compliant home, and with a shari’ah-compliant REIT kicking off a dividend of 10% at the time, well there was no question the Arabs would invest.”
http://sovereign-investor.com/2013/08/14/learn-bobby-tays-2-7-trillion-sigma-secret/
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Tip Freedomwat.ch Staff with Bitcoin
Swiss luxury home market turns downward
“The market for high-end homes is suffering from a lack of demand and too many properties for sale, French-language daily Le Matin reported this week. The Collins’ residence was just one example of luxury estates in the Lake Geneva area that are not fetching the prices sought by vendors. ‘The demand is less strong these last few months,’ Cyril Aellen, chairman of the Geneva real estate chamber, is quoted as saying by Le Matin. In the upscale Geneva municipality of Cologny, no fewer than 20 mansions are for sale. And Le Matin notes that the luxury market has faced a sharp slowdown in activity over the past 10 months.
http://www.thelocal.ch/20130820/market-for-luxury-swiss-homes-turns-downward
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Tip Freedomwat.ch Staff with Bitcoin
Needy EU Nations Woo Chinese Home Buyers to Ease Slump
“Cyprus, Greece and Portugal are providing resident permits to foreign buyers, while Spain is about to adopt a similar measure. The chance to purchase a home at depressed prices in southern Europe and gain what’s known as a golden visa is mostly being sold to Chinese investors, according to brokers. Southern Europe is the latest target for rich Chinese homebuyers, who have been snapping up properties from Vancouver to London since 2010 as their wealth swells and China’s government steps up a three-year campaign to cool home prices there. The number of millionaires in China rose 4 percent from the previous 12 months to 2.8 million.”
http://www.bloomberg.com/news/2013-08-21/needy-eu-nations-woo-chinese-home-buyers-to-ease-slump.html
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Mortgage Rates Are at Their Highest Levels in Two Years
“Who knew? With selling of bonds occurring both domestically and overseas, rates can climb for years.”
http://www.economicpolicyjournal.com/2013/08/mortgage-rates-are-at-their-highest.html
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Someone Is Lying
“Existing home sales beat expectations by the most since February 2010 surging 6.5% MoM to its highest SAAR level since March 2007. Sound right? Of course, this is defended by the ever-honest NAR by a sudden panic surge of buyers as rates rose. However, we just wonder how sustainable this is (given the chart below). Judging by the NAR’s history of revisionism, we suspect we know who is not telling the truth, the whole truth, and nothing but the truth. So all cash buyers? Pulling forward demand? Sustainable trend? You decide.”
http://www.zerohedge.com/news/2013-08-21/someone-lying
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The FED’s $500 Billion/Year Mortgage Subsidy Has Backfired
“Mortgage applications decreased 4.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 16, 2013. The Market Composite Index, a measure of mortgage loan application volume, decreased 4.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 5 percent compared with the previous week. The Refinance Index decreased 8 percent from the previous week. The Refinance Index has dropped 62.1 percent from the recent peak reached during the week of May 3, 2013.”
http://teapartyeconomist.com/2013/08/22/the-feds-500-billionyear-mortgage-subsidy-has-backfired/
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Tip Freedomwat.ch Staff with Bitcoin
Wells Fargo Lays Off Mortgage Workers. Why? Rising Rates.
“Wells Fargo & Co. ( WFC ), the fourth-largest bank in the U.S. by assets, will cut 2,300 mortgage-related jobs across the U.S. as higher interest rates slow down refinancing activity. Wells Fargo has reportedly provided a 60-day layoff notice to 2,300 employees in its home-lending unit based in Iowa as it braces for a further drop in demand for new mortgages. The San Francisco-based company had 274,300 employees at the end of the recent second quarter. Wells Fargo is the largest originator of home mortgages in the U.S. and under a federal program, has the mandate to originate, underwrite, and certify mortgages for FHA insurance.”
http://teapartyeconomist.com/2013/08/22/wells-fargo-lays-off-mortgage-workers-why-rising-rates/
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Pops In China’s Construction Bubble (But It’s Not Going To End)
“‘Government and banking industry sources familiar with the situation’ who ‘declined to be named due to the highly sensitive nature of the matter,’ have been spilling the beans to the South China Morning Post. The central government, they said, is considering an ‘unofficial economic stimulus’ to prop up key economies like Shanghai. On the quiet! For that purpose, Agricultural Bank of China, one of the state-owned megabanks, inked a deal to lend the city of Shanghai 250 billion yuan (about $41 billion) for a number of big construction projects, the sources said. The loan would amount to 12.5% of Shanghai’s 2012 GDP.”
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Tip Freedomwat.ch Staff with Bitcoin
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