“Buyers of Lennar’s homes could receive a payment of up to $13,000 toward their student loans, as much as 3% of the home’s purchase price, from its subsidiary, Eagle Home Mortgage. The nation’s collective student debt stands at an all-time high of $1.34 trillion, according to the Federal Reserve Bank of New York.”
“Those kinds of bets have often paid off. Buyers who snapped up co-ops and office towers when New York was near bankruptcy in the 1970s made a killing. More recently, companies including Blackstone Group LP and other marquee names bought foreclosed homes after the 2008 financial crisis and are sitting on billions in potential gains. The cycle begins with small-time investors such as Schild, who’s bought more than 30 waterlogged houses for an average $175,000 apiece. Then Wall Street swoops in.”
“American Green is a cannabis company based in Arizona, but they just bought the small California town of Nipton, located in San Bernardino County, and plan to convert into a municipality with a cannabis theme. The company has a ‘state of the art’ cultivation facility in Arizona and also sells hemp-based CBD (cannabidiol) products online and works to develop cannabis apps. They just spent five million dollars to obtain Nipton and plan to spend another $2.5 million creating their cannabis tourist attraction over the next 18 months.”
Read more: http://theantimedia.org/cannabis-company-weed-town/
“Like all bubbles before it, this one will end in disaster. And that crisis could arrive much sooner than people think.”
Read more: https://www.caseyresearch.com/articles/canadas-banking-system-is-crashing-before-our-eyes
“70% of millennials in China and 46% of Mexican millennials own a home versus 35% of young adults in the U.S. Young people in China are benefiting from wage growth that is projected to outpace the rate of home price appreciation set last year. And the U.S. doesn’t just fall behind China — France (41%) also came out ahead. In the United Arab Emirates, only 26% of millennials own a home, and Australia does only slightly better at 28%. (The average millennial U.S. homeownership rate in a separate WalletHub study rested around 40%.)”
“In 2016, United Van Lines reported, New Jersey was the state with the most ‘outbound’ movers, followed by Illinois, New York and Connecticut. The top ten ‘inbound states’ included some with a higher tax burden, like #5 Vermont, but also Nevada and South Carolina, which rank #43 and #44, respectively.”
“Pay attention to how few workers are visible in any stage of production. There is no way that these techniques will not be adopted all over the world. Nobody is going to give China this kind of competitive edge. These techniques are going to be imitated. It means the end of today’s technology. Today’s technology is labor-intensive. This will not be true by 2030. The next step will be the adoption of these techniques for housing developments. The construction industry will work out the bugs in high-level projects. Then these techniques will be adopted by housing developers as the price of the tools continues to drop.”
Read more: http://teapartyeconomist.com/2017/03/11/chinese-hotel-6-days-to-build/
“Now, everyone calls them, ahem, ‘non-prime.’ A few subprime (excuse me — non-prime) mortgage bond offerings started trickling out in recent quarters. But the one that caught everyone’s attention came out earlier this month: 368 mortgages packaged into a bond with a total principal balance of nearly $162 million. Many of the senior executives who led those companies are back in today’s non-prime ball game, too — once again aiming to capitalize on today’s Fed-induced low mortgage rates and re-inflated housing bubble.”
http://thesovereigninvestor.com/us-economy/new-subprime-meltdown/
“A state water agency has proposed one of its largest fines ever — $4.6 million — against a Bay Area man for allegedly damaging an island by transforming it into a luxury sporting enclave for Silicon Valley executives. After purchasing the island in 2011, Sweeney sought to revive a decades-old duck hunting club at the island. He launched a kite-surfing outfit with marketing materials that tout its seclusion and convenience for Silicon Valley and Bay Area executives. The San Francisco Bay Conservation and Development Commission issued a cease-and-desist order on April 22, concluding that Sweeney and the club violated two state laws.”
http://www.latimes.com/local/lanow/la-me-ln-bay-area-island-fine-20160518-snap-story.html
“Denmark’s biggest mortgage bank says there’s a ‘real risk’ Copenhagen is heading into a property bubble. Property prices in Copenhagen have risen 40-60 percent since the middle of 2012, when the central bank first resorted to negative interest rates to defend the krone’s peg to the euro. The benchmark deposit rate has been minus 0.75 percent since February as Denmark’s currency war intensified, and most analysts surveyed by Bloomberg see negative rates lasting at least through 2017. The Danish regulator this month warned Danske Bank against pursuing a growth strategy in Sweden as the housing market there shows signs of imbalances.”