Across Corn Belt, Farmland Prices Keep Soaring

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“Farmers are carrying less debt than they were 30 years ago, and low interest rates are also a factor because they make it less costly for farmers to borrow. The federal crop insurance program also plays a role in keeping farmland prices high, by covering a majority of losses in revenue or crop yields.  Some lenders have reported that a number of farmers are taking out loans based on the current value of their land to take advantage of the farmland boom.  Fed officials and some real estate brokers said these buyers could be in trouble if interest rates rose and crop prices fell.”

http://www.nytimes.com/2012/10/23/us/across-corn-belt-farmland-prices-keep-soaring.html?hpw&pagewanted=all&_r=0

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Where the Big Players Are Buying Housing

“The Federal Reserve Bank of Atlanta has put out a very informative chart on where three big money players are buying houses, how much they are spending and a bit about their investment strategies.  Distressed sales are declining because these giants, and others, are picking up what is on the market.  The housing downturn is over. From the supply side prices will be pushed higher. If Bernanke’s new money printing gets into the system, prices will also be pushed higher from the demand side.”

http://www.economicpolicyjournal.com/2012/10/where-big-players-are-buying-housing.html

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Another Eurozone Country Bites The Dust

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“What’s unique in the collapsing housing bubble in Cyprus is a title-deed scandal of unimaginable proportions. And it has embroiled waves of foreign buyers.  The banks aren’t talking. And they aren’t writing down their assets to reflect the layers of mortgages that are worthless. Developers are going bust. The money they pocketed has disappeared. Expat homeowners who don’t hold title deeds are terrified of losing their homes, even if they paid cash. There are no legal processes in place to resolve this. Estimates of the missing money range from €3 to €6 billion—enough to take down all Cypriot banks.”

http://www.testosteronepit.com/home/2011/10/29/another-eurozone-country-bites-the-dust.html

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Coming: A “Medicare Tax” If You Sell Your Property

“The Medicare tax could pack a punch for certain investors. It is not a sales tax. And it won’t apply to home-sale gains excluded from income under current law. But it could affect investors with outsize gains or gains from the sale of a vacation home or investment property.  Determining whether you will be subject to the tax is no easy matter.  Here’s what we do know.  The new tax will hit individuals with more than $200,000 in adjusted gross income, and married couples with adjusted gross income above $250,000 ($125,000 for married taxpayers filing separately). These thresholds are not indexed for inflation.”

http://www.economicpolicyjournal.com/2012/10/coming-medicare-tax-if-you-sell-your.html

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Could you live in 150 square feet? Cities try out micro-housing

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“Despite a soft housing market nationwide, rents in some of America’s biggest cities are still beyond the means of many families and singles who both want and need to live downtown. So cities from San Francisco and Seattle to Chicago and New York have begun trials of ever-smaller efficiency apartments – dubbed micro-housing – in the hearts of their metropolises, proposing units as tiny as 150 square feet with monthly rents as low as $495.  Many other nations have proved that it is entirely possible to live in a more concentrated living environment – one that would be better for the planet, say proponents.”

http://www.csmonitor.com/USA/Politics/2012/0925/Could-you-live-in-150-square-feet-Cities-try-out-micro-housing

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FNN AU: Marc Faber ‘Optimistic Prediction 4 Central Bankers Fate’

“9/18/2012 – Great interview with Dr. Marc Faber , of Marc Faber LTD and Editor/Publisher of the Gloom, Boom and Doom Report. Australia Financial Radio.”

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The Bubble: film official trailer

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“Coming in Fall 2012, The Bubble asks the experts who predicted the current recession, ‘What happened and why?’ Diving deep into the true causes of the financial crisis, renowned economists, investors and business leaders explain what America is facing if we don’t learn from our past mistakes. The film poses the question: ‘Is the economy really improving or are we just blowing up another Bubble?'”

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Housing, Diminishing Returns and Opportunity Cost

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“The Fed’s goal is not to relieve debt-serfdom, it’s to enforce it. The entire purpose of the Fed’s policies is to ensure homeowners keep paying interest to banks for the rest of the lives, and to encourage those who are not yet debt-serfs to join the serfdom with a “cheap” mortgage.  How did that work out so far? 31% of all homeowners are under water, owing more than their house is worth.  1 out of 6 FHA insured loans is now delinquent. Yup, defaults are rising and the taxpayers will be bailing out the banks once again to the tune of tens of billions of dollars.”

http://charleshughsmith.blogspot.com/2012/09/housing-diminishing-returns-and.html

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QE3 – Pay Attention If You Are in the Real Estate Market

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“Watch to see how much the banks pass through to homeowners and property owners to see how fast and big the turn may be. Watch to see the inflow of funds from offshore. This is not only funds returning but investors around the world looking to exchange their dollars for tangible assets to protect themselves from debasement of the dollar denominated deposits and securities they hold. Watch to see what the renegotiation of federal tax policy and the reengineering of the federal budget in response to the ‘fiscal cliff’ do to reposition housing and real estate prices and cost of financing for an inflow looking for large accumulations.”

http://www.thedailybell.com/4323/Catherine-Austin-Fitts-QE3-Pay-Attention-If-You-Are-in-the-Real-Estate-Market

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Chick-fil-A to halt funding of anti-LGBT groups

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“A press release from The Civil Rights Agenda (TCRA) said that Chick-fil-A had confirmed to Chicago Alderman Proco ‘Joe’ Moreno that its nonprofit, the WinShape Foundation, would no longer donate money to anti-LGBT organizations.  TCRA noted that the company had clarified that groups like Focus on the Family and the National Organization for Marriage would cut off from future donations.  As a result of the new stance, Moreno has agreed to drop his efforts to block Chick-fil-A from opening a new restaurant in Chicago’s Northwest Side ward.”

http://www.rawstory.com/rs/2012/09/19/chick-fil-a-to-halt-funding-of-anti-lgbt-groups-report/

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