Woman Wants Possessions Back After Bank Repossessed Wrong House

“Barnett, who had been away from the house for about two weeks, said she had to crawl through the window of her own house in order to get in after she used her own key that did not work.  Some of the items in her house had been hauled away, others were sold, given away and trashed.  It turns out the bank sent someone to repossess the house located across the street from Barnett’s house, but by mistake broke into hers instead. She called the McArthur Police about the incident, but weeks later, the chief announced the case was closed. She presented the bank president with an $18,000 estimate to replace the losses, but he refused to pay.”

http://www.10tv.com/content/stories/2013/07/22/athens-county-woman-wants-possessions-back-after-bank-tried-to-repossess-wrong-house.html

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Federal Government Consummates Theft of “Camp Zoe” in Missouri

“Rush Limbaugh’s net worth is estimated to be in excess of $400 million, and his annual income more $30 million. He owns several homes and a number of private aircraft. He was certainly a ripe target for prosecution and ‘asset forfeiture’ – or he would have been, had he been a commoner like Jimmy Tebeau, rather than the politically connected grandson of retired federal Judge Rush Hudson Limbaugh Sr., whose name is affixed to the courthouse where the entertainer’s cousin consummated the theft of Tebeau’s business and property.”

http://www.republicmagazine.com/news/federal-government-consummates-theft-of-camp-zoe-in-missouri.html

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John Paulson: Rationale for owning gold is valid

“CNBC’s Carl Quintanilla speaks to John Paulson, founder and president of Paulson & Co., about his firm’s investments, and his level of concern about the Fed’s monetary policy. ‘Although the Fed has printed a lot of money, to date there is little inflation,’ he says in discussing the gold market.”

http://video.cnbc.com/gallery/?video=3000183690

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FEMA caught using old flood map data that cost homeowners untold extra insurance premiums

“From Maine to Oregon, local floodplain managers say FEMA’s recent flood maps – which dictate the premiums that 5.5 million Americans pay for flood insurance – have often been built using outdated, inaccurate data. Homeowners, in turn, have to bear the cost of fixing FEMA’s mistakes.  It’s unclear exactly how many new maps FEMA has issued in recent years are at least partly based on older data. While FEMA’s website allows anybody to look-up flood maps for their areas, the agency’s maps don’t show the age of the underlying data.  Congress has actually cut map funding by more than half since 2010, from $221 million down to $100 million this year.”

http://www.rawstory.com/rs/2013/07/18/fema-caught-using-old-data-for-new-flood-maps-that-cost-homeowners-untold-sums-in-extra-insurance-premiums/

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New York house flipping nets $40,000 average profit

“Looking for a quick $40,000? Consider joining the rapidly growing legion of New York-area home flippers. The average gross profit on a home owned for less than six months and sold in the first half of 2013 in the New York City, Long Island and Northern New Jersey area was $39,458, according to a report released July 19 by real estate analytics firm RealtyTrac. Based on gross profit percentage (10 percent), RealtyTrac found the local market to be the nation’s 14th best for profitable home flipping. The practice is on the rise across the country.”

http://www.newsday.com/classifieds/real-estate/real-li-1.812034/new-york-house-flipping-nets-40-000-average-profit-1.5727671

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15 Houses in Detroit You Can Buy for Less Than $500

“Don’t ever think that a combination of central bank stop and go money printing combined with suffocating government regulations can’t push us back into the Stone Age. Detroit today reminds me in many ways of the Bronx in the 1980s. The details of the government destruction causing interventions are a little bit different, but the results are the same.”

http://www.economicpolicyjournal.com/2013/07/15-houses-in-detroit-you-can-buy-for.html

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SF Bay Area House Sales Plunge in June (Month-over-Month AND Year-over-Year)

“What’s most alarming about this is that ‘June’ existing sales are actually from ‘contracts and price decisions’ made in April and May when rates were at HISTORIC LOWS. This tells me the market — underpinned for 18 months by investors and ‘distressed supply’ — was already exhausted before the historic rate ‘surge’.   Historic, artificially low rates for so long filled so much pent-up demand, pulled so much demand forward, and caused institutional investors to buy so much blindly that years of housing market activity was shoved through the eye of a needle.”

http://mhanson.com/archives/1386

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Housing’s Mini-Bubble Has Popped.

“Mortgage rates are up. Mortgage applications are down.  New home permits are down. New home construction is down. Not a little down. ‘Falling off the burning trestle’ down.  Bernanke did it. Let us not forget this after he retires next February. Bernanke did it. When the bad news on housing is on the evening news, recall once again: Bernanke did it. With QE3 pouring $40 billion of newly counterfeited money a month into Fannie/Freddie, and mortgage rates rising from 3.35% to 4.6% in two months, let us sing the chorus: Bernanke did it.”

http://teapartyeconomist.com/2013/07/18/housings-mini-bubble-has-popped/

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Now Available for You to Buy: America’s Most Expensive Home, $190 Million

“The Greenwich, CT house has 12  bedrooms and comes with 50 acre of grounds. The house is currently owned by timber industrialist John Rudey, reports the UK’s MailOnline.  The estate once belonged to Harriet Lauder Greenway, whose father went into business with steel magnate Andrew Carnegie.  The three story property was built in 1896 and still has speaking tubes from pre-electricity days and sleeping porches used to cool off before the invention of air conditioning as well as an elaborate solarium.  There is 15,000 feet of living space.”

http://www.economicpolicyjournal.com/2013/07/now-available-for-you-to-buy-americas.html

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Gold Diverging From Fine Wine as Bullion Investors Lose Faith

“The Liv-ex Fine Wine 100 Index (LIVX100) tripled in the past 10 years and gold advanced fourfold. The wine gauge rose 5.9 percent this year as bullion slid 17 percent. The Wine Investment Fund, which manages about $50 million of assets, expects the Liv-ex gauge to rise by about another 7.6 percent by the end of December. Demand for gold, wine and other alternative assets gained in the past several years as equities retreated and bond yields tumbled to record lows as central banks printed money on an unprecedented scale. Gold held through exchange-traded products exceeded all but two of the world’s central-bank reserves.”

http://www.bloomberg.com/news/2013-05-29/gold-diverging-from-fine-wine-as-bullion-investors-lose-faith.html

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