Tag Archives: Property/Assets/Rights

Obama Administration Demanding All Americans Must Have “Healthy Housing”

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“The Strategy for Action unifies, for the first time, federal action to advance healthy housing, demonstrating the connection between housing conditions and residents’ health. It also promotes strategies and methods intended to reduce in-home health hazards in a cost-effective manner.  ‘Thanks to unprecedented collaboration across the federal family and among our many partners, we now have a specific plan for action to address radon and other preventable hazards found in homes across the country. This is important progress,’ said EPA Administrator Lisa P. Jackson.”

http://freedomoutpost.com/2013/02/obama-administration-demanding-all-americans-must-have-healthy-housing/

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The Fed’s Asset-Inflation Machine

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“Winners on stocks or land holdings should happily accept their gains as the best to be expected in a very unsettled financial environment. But they should also remember the 2000s, when so many people thought their newfound riches were real and cashed them in for yet more debt, such as home-equity loans.   They later had a rude awakening. The ‘wealth illusion’ of asset inflation is seductive, which is why central banks in charge of a fiat currency and subject to no external disciplines so often drift in that direction. Politicians smile in satisfaction and powerful Washington lobbies cry for more.   But an economy built on an illusion is hardly a sound structure.”

http://online.wsj.com/article/SB10001424127887324445904578286252393164598.html

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Greek Finance Minister Gets Bullet In The Mail

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“Greece’s finance minister was sent a bullet and a death threat from a group protesting home foreclosures, police officials said on Monday, in the latest incident to raise fears of growing political violence.  The package was sent by a little-known group called ‘Cretan Revolution’, which warned the minister against any efforts to seize homes and evict homeowners, police sources said. The group sent similar letters to tax offices in Crete last week.”

http://www.zerohedge.com/news/2013-02-04/greek-finance-minister-gets-bullet-mail

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Who Was the Richest Person Ever?

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“The fabulously rich triumvir Marcus Crassus’s fortune was estimated around the year 50 BCE at some 200 million sesterces (HS). Crassus’s annual income could be estimated at 12 million HS.  Thus expressed, Crassus’s income was equal to the annual incomes of about 32,000 people, a crowd that would fill about half of the Colosseum. Let us fast-forward more closely to the present and apply the same reasoning to three American wealth icons: Andrew Carnegie, John D. Rockefeller and Bill Gates.”

http://www.economicpolicyjournal.com/2013/01/who-was-richest-person-ever.html

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Italy’s Berlusconi vows to refund money from unpopular tax

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“Former premier Silvio Berlusconi vowed Sunday to refund the money Italians have had to fork out for an unpopular property tax if his coalition wins this month’s elections.  Speaking at a rally in Milan, Berlusconi vowed to scrap the levy and refund the taxes paid on primary residences in 2012 ‘as compensation for an erroneous decision by the state’ — to the tune of some four billion euros ($5.5 billion).  ‘One should never touch the primary residence, which is the pillar on which families build,’ he said, asserting that the reintroduction of the tax had caused property values to plummet ‘by five to 20 percent’, and had led to a drop in home sales and construction.”

http://www.rawstory.com/rs/2013/02/03/italys-berlusconi-vows-to-refund-money-from-unpopular-tax/

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It Pays to Be a Bankster: Blankfein Buys $33 Million Hamptons Mansion

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“Goldman Sachs CEO Lloyd Blankfein has bought a seven-bedroom home in New York’s Hamptons that was listed for $32.5 million, a person with knowledge of the deal said, reports Bloomberg.  Blankfein took title to the property on Ocean Road in Bridgehampton in recent weeks, says Bloomberg. Property records reported by LexisNexis list the owner as ‘Fein, Blank.’  The home, with six full bathrooms, includes a tennis court, ‘sculpted gardens,’ a swimming pool, and ‘a winding driveway to a home of which dreams are made,’ says a real estate listing.”

http://www.economicpolicyjournal.com/2013/01/it-pays-to-be-bankster-blankfein-buys.html

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What Is Middle Class in Manhattan?

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“Manhattan is not like most places. Its 1.6 million residents hide in a forest of tall buildings, and even the city’s elite take the subway. Middle-class neighborhoods do not really exist in Manhattan — probably the only place in the United States where a $5.5 million condo with a teak closet and mother-of-pearl wall tile shares a block with a public housing project.  In a city like New York, where everything is superlative, who exactly is middle class? What kind of salary are we talking about? Where does a middle-class person live? And could the relentless rise in real estate prices push the middle class to extinction?”

http://www.cnbc.com/id/100393079

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Housing Prices Starting to Melt Up

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“Home prices may be starting to melt up. That means that fewer homeowners will have negative equity in their homes and more of them will have less of it. […] The median existing single-family home price rose 10.9% y/y during December, the best performance since January 2006. This is happening because the supply of existing homes available for sale dropped last month to the lowest since January 2001.”

http://www.economicpolicyjournal.com/2013/01/housing-prices-starting-to-melt-up.html

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One Thing Explains Why Home Prices Are Rising In Some Cities And Falling In Others

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“One key reason for the discrepancy is the legal process for foreclosing on a home, explains Bank of America Merrill Lynch’s Michelle Meyer.  ‘Broadly, states with a non-judicial process witnessed a sharper decline in home prices at the beginning of the downturn, but are currently enjoying price appreciation,’ said Meyer recently. ‘This is due to a more efficient disposition of delinquent supply, leaving lean inventory in many markets.  In contrast, states with a judicial process are still struggling to clear the pipeline of distressed loans. As a result, home prices in the Chicago and New York metro areas have continued to edge lower.'”

http://www.businessinsider.com/michelle-meyer-foreclosure-process-home-prices-2012-12

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The Echo Boom in Housing-Recovery Stocks

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“Speculative bubbles often produce an ‘echo boom’ a few years after the bubble has burst, as the cultural/institutional memories of the asset’s spectacular gains remain operative long after the initial boom/bust. Is the much-hyped housing recovery an organic, sustainable trend, or is it merely a speculation-driven echo boom that is doomed to fade?”

http://charleshughsmith.blogspot.com/2013/02/the-echo-boom-in-housing-recovery-stocks.html

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