Austerity

Millions spent to begin razing of 7,000 abandoned properties in Dayton

"Kevin Powell, the city’s acting manager of housing inspection, says officials plan to use $5.2 million to raze 475 abandoned properties by the end of September. The city knocked down 1,172 abandoned structures - single-family homes, strip malls, multi-unit buildings, commercial properties etc. — between 2009 and 2012, using money that included $8 million in federal funds. The average cost for a demolition, which includes asbestos removal, is $11,000. Abandon properties have a negative impact on the city’s tax collection, which are used to remove abandon properties and pay for other city services. 'It’s a complete circle that keeps eating upon itself,' Powell said." Continue reading →

Continue ReadingMillions spent to begin razing of 7,000 abandoned properties in Dayton

Manufacturing of Zeppelins temporarily shut down sausage makers in World War I

"According to a new documentary, the quantity of cow intestines used in manufacturing the airships was so enormous – and the military appetite for the dirigibles so strong – that the making of sausages was temporarily outlawed in Germany and allied or occupied parts of Austria, Poland and northern France. With the guts from more than 250,000 cows needed to produce the bags that held the hydrogen gas in each Zeppelin, the German war machine had to choose between long-range bombing and wurst. It chose the former." Continue reading →

Continue ReadingManufacturing of Zeppelins temporarily shut down sausage makers in World War I

NASA begins selling shuttle launch platforms

"Nasa is selling three huge mobile platforms used to launch the Apollo moon missions and the space shuttle – adding to the list of historic facilities and equipments it wants private industry to take over, including a shuttle launchpad and its landing runway. The massive steel structures – 7.6 metres high (25ft) 49 by 41 metres on top – were originally built in 1967 for the Apollo moon programme’s Saturn rockets, then modified for the space shuttles, which flew from 1981 until 2011. The Kennedy Space Centre launchpad has attracted competing bids from the Amazon founder Jeff Bezos and Elon Musk, co-founder of Paypal and chief executive of electric car company Tesla Motors." Continue reading →

Continue ReadingNASA begins selling shuttle launch platforms

Needy EU Nations Woo Chinese Home Buyers to Ease Slump

"Cyprus, Greece and Portugal are providing resident permits to foreign buyers, while Spain is about to adopt a similar measure. The chance to purchase a home at depressed prices in southern Europe and gain what’s known as a golden visa is mostly being sold to Chinese investors, according to brokers. Southern Europe is the latest target for rich Chinese homebuyers, who have been snapping up properties from Vancouver to London since 2010 as their wealth swells and China’s government steps up a three-year campaign to cool home prices there. The number of millionaires in China rose 4 percent from the previous 12 months to 2.8 million." Continue reading →

Continue ReadingNeedy EU Nations Woo Chinese Home Buyers to Ease Slump

Spanish banks’ bad loan ratio rises to record in June

"The overall bad debt ratio for Spanish banks was up from 11.2 percent in May and has been steadily increasing since a drop-off at the end of last year when rescued lenders transferred toxic property assets to Spain's so-called bad bank. Spanish lenders' earnings were gutted last year by steep government-enforced provisions on properties and loans to developers, in the wake of a 2008 real estate crash. Those unable to cope were bailed-out with European funds, and most of their real estate loans were transferred to a government-backed bad bank." Continue reading →

Continue ReadingSpanish banks’ bad loan ratio rises to record in June

NYC goes Tokyo: Micro apartments proposed as solution to overcrowding

"Tiny — and affordable — modular living spaces could soon become the latest real estate craze in the highly crowded city of New York. Fifty-five micro apartments are being constructed in Manhattan to test whether New Yorkers are willing to follow the example of Tokyo and Mumbai. According to Bloomberg News, micro apartments at the new 'My Micro NY' building will be only 250 to 370 square feet. Rents will range from $939 to $1,873. Currently, the average monthly rent for a studio is more than $2,000." Continue reading →

Continue ReadingNYC goes Tokyo: Micro apartments proposed as solution to overcrowding

Artist Gregory Kloehn turns $1,000 dumpster into tiny home

"There’s nothing trashy about Gregory Kloehn’s Brooklyn pied-a-terre: a live-in dumpster that sleeps two with ease, hosts impromptu barbecue parties and sports its own sundeck. In a nation where the average home is 2,600 square feet (241 square meters), tiny houses are fetching more attention, not least from aging baby boomers looking to downsize in their retirement years. 'There are more builders. There are more people seeking to live in tiny houses,' Mitchell told AFP by telephone. There would be even more tiny homes, he said, if if local zoning regulations and housing codes were not so restrictive." Continue reading →

Continue ReadingArtist Gregory Kloehn turns $1,000 dumpster into tiny home

Unemployed Spaniards rush to play slaves in Ridley Scott’s ‘Exodus’ film

"Thousands of Spaniards in the depressed southern region of Andalusia are queueing up to play the role of slaves in film-maker Ridley Scott’s Biblical epic 'Exodus', hoping for a way out of unemployment. In a region with unemployment at 35 percent, the prospect of work as an extra with a daily wage of 80 euros ($107) has sparked a rush in Almeria where casting is being held for the story of Moses and the Jewish exodus to the promised land. Some 10,000 people turned up at a casting call in the city of Almeria, and another 5,000 in the nearby town of Pechina, one of the casting organisers said." Continue reading →

Continue ReadingUnemployed Spaniards rush to play slaves in Ridley Scott’s ‘Exodus’ film

Greek teen’s death after argument with bus ticket inspector sparks anti-austerity protests

"The incident quickly touched a nerve in Greece, where the government is using increasingly tough methods to collect revenue under pressure from its international lenders to fix its finances. About 300 people, among them anti-bailout groups, marched to the cemetery where Kanaoutis’s funeral was held on Friday evening. After the service, dozens of youths pelted riot police with stones near the spot where he died. Protesters smashed the windows of a bus in the area and scrawled 'Murderers' in red paint on the windshield. 'Kanaoutis died because he didn’t have a ticket worth 1.20 euros ($1.59),' said the main opposition Syriza party in a statement." Continue reading →

Continue ReadingGreek teen’s death after argument with bus ticket inspector sparks anti-austerity protests

Greek police report riot at immigrant detention camp

"Riot police were dispatched on Saturday to put down a riot at Greece’s main migrant detention camp where detainees hurled stones at officers and set fire to their living quarters, authorities said. Television footage showed fires blazing at the Amygdaleza detention camp outside Athens, where some 1,200 mainly Asian migrants are kept under police guard. Amygdaleza is one of several detention camps set up since last year to assist in the repatriation of thousands of undocumented migrants. The police spokesman said rioting began when the detainees were told that their maximum stay in the camp would be extended to 18 months from a year previously." Continue reading →

Continue ReadingGreek police report riot at immigrant detention camp