Tag Archives: Property/Assets/Rights

New York’s Crony Motivated Swipe Against the Sharing Economy

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“Nigel Warren, an East Village resident, was fined $2,400 for running an illegal hotel because he rented his bedroom out to a visitor for three days. He wasn’t operating a sleazy flophouse, and the entire transaction was markedly casual, but he was prosecuted nonetheless. Warren’s offending transaction took place through Airbnb, an online hostelling website. Airbnb works on a peer-to-peer structure, connecting people with extra space to people who can’t (or don’t want to) shell out for a regular hotel. One can’t help but suspect big hotel powers might be lurking behind a law that forbids short stays anywhere but in hotels.”

http://www.fee.org/the_freeman/detail/rent-my-flat-black-market-edition

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Eccentric Beijing resident builds rock villa atop apartment skyscraper

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“Neighbours have complained about China’s latest architectural oddity, which covers more than 1,000 square metres (10,000 square feet), saying they fear it could cause the structure to collapse on top of them, the Beijing Morning Post reported. Authorities have posted notices that the villa in the Haidian area in the west of the city is illegal, it added. Houses standing on top of multi-storey buildings are not unknown in China, where a rising property market is making land more and more expensive. A developer in central China built 25 luxury villas on top of a shopping mall, which became migrant workers’ residences after authorities declared them illegal.”

http://www.rawstory.com/rs/2013/08/12/eccentric-beijing-resident-builds-rock-villa-atop-apartment-skyscraper/

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Apartment tenants told they must get rid of their guns

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“Retired Marine Art Dorsch says his Second Amendment rights are in danger.  His apartment complex, the Oakwood Apartments in Castle Rock, sent out a notice telling all residents to get rid of their guns. The 77-year-old retired US Marine Corps veteran sent a newstip to 9Wants to Know saying he’s afraid he’ll be homeless if he doesn’t comply. The letter went out to residents on August 1 and says they have until October 1 to comply with updated ‘community policies.’  On page 2 is a brand new provision saying ‘firearms and weapons are prohibited.’ ‘I’m a hunter. I’m a licensed conceal and carry person,’ Dorsch said.”

http://www.9news.com/news/article/348974/339/Apartment-tenants-told-they-must-get-rid-of-guns

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America’s Fastest-Growing Cities Since The Recession

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“An analysis of post-2007 population trends by demographer Wendell Cox in the 111 U.S. metro areas with more than 200,000 residents reveals something both very different from the conventional wisdom and at the same time very familiar. Virtually all of the 20 that have added the most residents from 2007 to 2012 are in the Old Confederacy, the Intermountain West and suburbs of larger cities, notably in California. The lone exception to this pattern is No. 15 Portland. The bottom line: growth is still fastest in the Sun Belt, in suburban cities and lower-density, spread out municipalities.”

http://www.forbes.com/sites/joelkotkin/2013/06/18/americas-fastest-growing-cities-since-the-recession/

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Why Are Your Children Buying Houses for Ben Bernanke?

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“The Fed sells all those bonds to investors – who will, of course, want their money back, with interest.  So, where will the money for paying off those bonds come from? From taxes, of course.  When a government sells a bond, they are selling a right to their tax receipts. And that means your kids will be taxed to pay it all off.  The Fed will keep the houses, of course, but hidden behind paragraphs of confusing financial and accounting terminology.  Home ownership in America is falling off a cliff, as you can see in this graph. So, Mr. and Ms. America, get ready to meet your new landlords: Benny and the Banks.”

http://www.freemansperspective.com/ben-bernanke-buying-house/

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‘Eminent Domain for the People’ Leaves Wall Street Furious

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“Richmond became the first California city last week to move forward on a plan that has been floated by other California municipalities to ask big bank lenders to sell underwater mortgage loans at a discount to the city (if the owner consents), and seize those homes through eminent domain if the banks refuse. The city has committed to refinancing these homes for owners at their current value, not what is owed. City officials launched this process by sending letters in late July to 32 banks and other mortgage owners offering to buy 624 underwater mortgages at the price the homes are worth, not what the owners owe.”

https://www.commondreams.org/headline/2013/08/07-4

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How Fortunes Are Made In Frontier Markets: Interview With Harris Kupperman Part II

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“Getting your boots muddy in a frontier market can be immensely profitable. That is, if you get to a boomtown before boom times, there’s plenty of money to be made. As we learned yesterday, there’s huge profit potential in Mongolia — home to the recently started, world-class Oyu Tolgoi copper mine. ‘The way I’m thinking of playing this resource boom’ says Harris Kupperman, CEO of Mongolia Growth Group (MNGGF) ‘is through the consumer, and the best way to access the consumer is retail space on the main streets’.
Today we’ll continue our talk with Harris. He’ll explain how his group could make 9-18 times their money in Mongolian real estate.”

http://dailyresourcehunter.com/how-fortunes-are-made-in-frontier-markets-interview-with-harris-kupperman-part-ii/

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Anaheim & the Feds Use Civil Forfeiture to Subvert State Law

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“When IJ client Tony Jalali fled Iran in 1978, he came to America seeking protection of the rule of law, due process, and justice. He never would have imagined that 35 years later he would be battling in federal court to save the small Anaheim, Calif., office building that represents his family’s life savings.  Although Tony has never been charged with any crime, the federal government is attempting to use civil forfeiture to take his entire $1.5 million commercial building merely because he used to rent office space to a medical marijuana dispensary that was entirely legal under state law.”

http://ij.org/l-l-8-13-california-scheming

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Tax-Saving AB Trusts and New Estate Tax Rules

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“Under the old tax laws, each spouse had an estate tax exemption, but typically, the first spouse to die didn’t use his or her exemption. That’s because most spouses left everything to the survivor and bequests to a surviving spouse aren’t subject to estate tax. But the surviving spouse then owned all the couple’s assets; estate tax would be owed when the second spouse died. The portability provision (which became effective in 2011) lets the surviving spouse use any part of the total exemption — $10.24 million for deaths in 2012 — that isn’t used by the first spouse to die. So for most couples, there’s no need for an AB trust.”

http://www.nolo.com/legal-encyclopedia/tax-saving-ab-trusts-29621.html

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How the Vatican built a secret property empire using Mussolini’s millions

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“Behind a disguised offshore company structure, the church’s international portfolio has been built up over the years, using cash originally handed over by Mussolini in return for papal recognition of the Italian fascist regime in 1929. Since then the international value of Mussolini’s nest-egg has mounted until it now exceeds £500m. In 2006, at the height of the recent property bubble, the Vatican spent £15m of those funds to buy 30 St James’s Square. Other UK properties are at 168 New Bond Street and in the city of Coventry. It also owns blocks of flats in Paris and Switzerland.”

http://www.theguardian.com/world/2013/jan/21/vatican-secret-property-empire-mussolini

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