Real estate

Asset Prices and Wealth Inequality

Published by Anonymous (not verified) on Thu, 09/08/2018 - 4:25pm in

How asset prices have driven the evolution of US wealth inequality over the last 70 years.

Bill Black: Pre-Crisis “4506-T Studies” Showed Massive Fraud in Liar’s Loans; Fed Ignored Warning, DoJ Refused to Target Implicated Banksters

Yet another proof that the authorities were given evidence of widespread mortgage fraud before the crisis and chose to do nothing about it.

Bill Black: Mankiw Whiffs on “Learning the Right Lessons from the Financial Crisis”

Published by Anonymous (not verified) on Wed, 01/08/2018 - 3:58pm in

Bill Black debunks a book that tries to relitigate the crisis by denying that Lehman was insolvent.

Jared Kushner’s Worthless Peace Deal for the Palestinians

Jared Kushner is proving to be every bit a bumptious, arrogrant braggart as his father-in-law, Donald Trump. Trump boasts that every deal or bill he’s going to pass will be absolutely wonderful, pushing them in the most superlative tones. So did Kushner about two weeks ago, when he declared that he was going to make a peace deal with the Palestinians. This was going to be great for the Israelis, and great for the Palestinians. He was not, however, going to spoil it by including the Palestinian leader, Mahmoud Abbas, in the negotiations.

I don’t know what kind of deal he finalised, but I doubt is has any value to the Palestinians themselves. If memory serves me right, Kushner is one of the leaders of the Jewish National Fund in America. This is the Israeli organisation, which owns 97 per cent of the land in Israel, which is very much reserved for Israelis and definitely not for Palestinians.

And even if he isn’t connected to that organisation, Kushner is a real estate developer in Israel, who specialises in buying up Palestinian land and developing Israeli settlements, businesses and homes in the Occupied Territories.

The last peace deal the Israelis made with the Palestinians in the 1990s, according to Joe Sacco’s Palestine, did precious little to benefit the Palestinians. They were given an independent authority, but the occupation and its brutalities and injustices continued, as did the constrution and expansion of the illegal settlements. Kushner’s peace deal sounds exactly the same, with the exception that he doesn’t trust the Palestinian leader himself to agree to it. Perhaps the real reason he want to cut Abbas out of the negotiations was because the Palestinian leader may have been a bit too wise to what Kushner would try.

This looks like another insubstantial peace process, where Kushner, America and the Israelis will offer scraps or tokens, while making sure that the indigenous people of Israel will continue to have their lands seized, their schools closed, their homes bulldozed, water fouled, and themselves shot and persecuted as part of the Israelis’ long campaign of ethnic cleansing against them.

Why Are There So Many Unsheltered Homeless People in California?

Published by Anonymous (not verified) on Fri, 15/06/2018 - 5:41pm in

Try guessing why San Francisco has encampments of homeless people....

How Chinese Investors Inflate Housing Markets in the US, Canada, and Australia, as Governments Try to Stem the Tide

Published by Anonymous (not verified) on Fri, 08/06/2018 - 11:55pm in

How Chinese money is distorting home prices in major cities around the world, and how local authorities are starting to intervene.

Planners Decide On “Siberian Mining City” Look For Sydney

Published by Anonymous (not verified) on Wed, 23/05/2018 - 8:38am in

Planning NSW and Australia’s biggest property developers have announced their new plan for Sydney, with a motif based upon the thriving mining metropolises of the Siberian tundra.

“The look we’re going for is one we call Novosibirsk with ibises,” said Kyle Woodstain, the Minister For Packing People In Like Pringles Chips In A Can. “I don’t normally have much time for the godless communists but you’ve got to hand it to them when it came to creating joyless windswept communities filled with juvenile delinquents and roving gangs of feral cats.”

“We’ve deliberately designed Sydney in a way that will create thousands of jobs,” said the planning consultant Philippa Corinthian. “Admittedly most of these jobs will involve scraping red smears off the sides of buildings that used to be pedestrians before random gusts of wind picked them up and slammed them into the walls.”

Fresh from a fact finding tour of Omsk, Krasnoyarsk and Norilsk, the town planners raved about the possibilities of bulldozing all residences that contain a grain of charm and replacing them with barren courtyards, cheerless roundabouts and gardens full of spiky leaved shrubbery.

“Sydney has a space problem and one way to solve that is to deprive children of sunlight so they grow up smaller,” said property developer Hamish Espieff. “Look, have you ever seen an unhappy sardine? No, me either.”

Peter Green

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Warren Buffett’s Mortgage Companies Engage in Alleged Discrimination Against Minority Borrowers, Violating Fair Housing Act

Published by Anonymous (not verified) on Tue, 08/05/2018 - 5:53pm in

An investigative report suggests that Berkshire Hathaway's mortgage lending operation discriminates against minority borrowers.

Gimme Shelter Q1 2018 Update: Rents and House Prices All at or Near New Extremes

Published by Anonymous (not verified) on Sat, 05/05/2018 - 5:27pm in

Why buying a house looks to be a better deal than renting, even at today's nosebleed prices.

Trump’s Triangle Fire

Published by Anonymous (not verified) on Sat, 28/04/2018 - 2:25am in

The blaze that killed a Trump Tower resident in early April recalls a long of history of developers and corporations putting profit over safety—an ethos that informs not only Trump’s business but his presidency.