Tag Archives: Property/Assets/Rights

“Boomerang Foreclosures” Are Back As Bernanke’s Second Housing Bubble Begins To Pop

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“As the chart below shows, while California foreclosure activity is collapsing, things in other places are starting to indicate that the second housing bubble blown by Bernanke in 5 years, is finally starting to crack.  In other words, ignore the sad and very much artificial reality of California where the real estate market is no longer indicative of what happens in a free market, and instead keep a close eye on those states where all artificial attempts to crush foreclosure starts and completions have been used up, and where reality is about to come back with a bang.”

http://www.zerohedge.com/news/2013-02-14/boomerang-foreclosures-are-back-bernankes-second-housing-bubble-begins-pop

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Americans Are Tapping Their Homes For Cash Again

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“Nearly 11 million borrowers are underwater on their mortgages, owing more than their homes are worth, according to CoreLogic, and yet home equity lines of credit are suddenly on the rise again.  Blackwell pointed to increased consumer confidence, meaning borrowers now feel better about their ability to repay these loans. Both factors fueled a 19 percent jump in originations of home equity lines of credit at the end of last year, according to Equifax. In 2008, as housing was crashing, home equity line originations dropped 55 percent.  With home prices up 8 percent year-over-year in December, homeowners are regaining home equity at a fast clip.”

http://www.businessinsider.com/americans-are-tapping-home-equity-again-2013-2

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Housing Industry Hopes Obama Line Will Soften Mortgage Rule

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“U.S. Realtors and mortgage bankers say they hope President Barack Obama’s call for streamlined mortgage rules in his State of the Union speech will help them persuade regulators not to set a strict minimum down payment for home loans.  At issue is the so-called qualified residential mortgage rule, which six banking regulators including the Federal Deposit Insurance Corp. and the Federal Reserve are aiming to complete this year. The regulators drew protests in 2011 when they released a preliminary draft requiring lenders to keep a stake in mortgages with down payments of less than 20 percent and those issued to [debt-laden] borrowers.”

http://www.bloomberg.com/news/2013-02-13/housing-industry-pins-hopes-on-obama-to-soften-down-payment-rule.html

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The DEA Wants to Use a $37 Pot Sale to Seize a $1.5 Million Anaheim Building

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“As it happens, the building owners are the kind of clients whom defense attorneys love to represent: law-abiding citizens. Specifically, they are married, in their late middle age and from Irvine. The wife is a dentist; the husband a computer engineer who holds a government security clearance, which is why the latter asked to remain anonymous. Although he feels he has done nothing wrong, he explains, even being accused of allowing his property to be used to break the law is embarrassing to him.”

http://www.ocweekly.com/2013-02-07/news/anaheim-remedy-tree-ogden-memo-dea-kush-expo/full/

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America’s Housing “Recovery”: Wall St. Buying Homes to Rent Back to Their Former Owners

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“The Blackstone group, the biggest player in the new REO to rental market, has spent $2.5 billion in the last year purchasing 16,000 homes, a number that amounts to over $100 million per week. Property records show that many of the homes Blackstone has acquired in Fulton County over the last few months were purchased on the courthouse steps at the monthly foreclosure auction, or through short sales—when a lender agrees to accept less than the amount owed on a loan. The vast majority of these homes are not empty, but occupied by homeowners who fell behind during the great recession.”

http://www.alternet.org/occupy-wall-street/ugly-truth-about-americas-housing-recovery-its-wall-st-buying-homes-rent-back?paging=off

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Renters to thank for healthier housing market

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“Shares of the biggest U.S. builders including Lennar Homes (LEN) and Toll Brothers (TOL) have soared during the past year, but investors appear more excited about renters than a return of homeowners. To date, construction of multi-family units destined for the rental market rose by 150% over the two years ending in the third quarter of 2012. That’s by far higher than the 50% rise of newly constructed multi-family homes for sale, and a 30% increase of single-family starts also for sale, according to Capital Economics.”

http://finance.fortune.cnn.com/2013/02/12/housing-rentals/

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30-story building built in 15 days – Construction time lapse

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30-story building built in 15 days – Construction time lapse

“What can you accomplish in 360 hours?   The Chinese sustainable building company, Broad Group, has yet attempted another impossible feat, building a 30-story tall hotel prototype in 360 hours, after building a 15-story building in a week earlier in 2011.  You may ask why in a hurry, and is it safe? The statistics in the video can put you in good faith. Prefabricated modular buildings has many advantages over conventional buildings.”

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Greeks strip country for scrap cash

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“Train lines, bridges, cables and even cemeteries have all been targeted for scrap to feed a market driven by China and India.  Police now arrest an average of four metal thieves every day, compared to a few cases every month before the crisis started in late 2009. The profile of the metal thief is also changing, authorities say, from gypsies and immigrants living on the margins of society to mainstream Greeks who have fallen on hard times.  Athens’ nine-year-old light rail system has been a prime magnet for metal robbers, with at least five major disruptions reported in the past six months due to cable theft.”

http://www.express.co.uk/news/world/377030/Greeks-strip-country-for-scrap-cash

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Fannie To Allow Mortgage Walkaways by On-Time Borrowers

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“Fannie Mae (FNMA) and Freddie Mac will let some borrowers who kept up payments as their homes lost value erase their debts by giving up the properties, helping Americans escape underwater loans while adding to losses at the mortgage giants bailed out with $190 billion of taxpayer money. Non-delinquent borrowers with illness, job changes or other reasons they need to move will become eligible in March to apply for a so-called deed-in-lieu transaction that erases the shortfall between a property’s value and the size of its mortgage.”

http://www.bloomberg.com/news/2013-01-28/fannie-adds-bailout-for-underwaters-walkaways-mortgages.html

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Lithuania turns Google Street View on tax cheats

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“Lithuanian tax authorities said Thursday they would use the Baltic state’s recently launched Google Street View platform to track tax cheats by identifying the real value of property holdings.  ‘It will help ascertain which property is ‘hiding’ under the entry recorded in the real-estate register and provide a preliminary assessment of whether the value corresponds to the declared value,’ Lithuanian deputy state tax inspector Arturas Klerauskas told AFP.  Google Street View was launched in Lithuania a week ago, after Google overcame initial reluctance on the part of the authorities that stemmed from privacy and security concerns.”

http://www.rawstory.com/rs/2013/02/07/lithuania-turns-google-street-view-on-tax-cheats/

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