property

U.S. Construction Hits 37-Month High

"Ben Bernanke's mad money printing is making its impact. Analysis of October's construction spending patterns by the Associated General Contractors of America found ongoing building expenditures running at a $872 billion annual rate. That's up 9.6 percent in a year – and the highest level of activity in 37 months. Residential efforts ran especially strong: New single-family construction hit its highest mark since November 2008; multifamily construction hit a three-year high; and home improvements ran at a five-year high. This is all a Bernanke manipulated boom---next stop price inflation 2013." Continue reading →

Continue ReadingU.S. Construction Hits 37-Month High

China Will Build the Tallest Building In the World in Just 90 Days

"According to its engineers, this will be the tallest skyscraper in the world by the end of March of 2013. Its name is Sky City, and its 2,749 feet (838 meters) distributed in 220 floors will grow in just 90 days in Changsha city, by the Xiangjiang river. Ninety days! The skyscraper will be built in just 90 days at the unbelievable rate of five floors per day. They will be able to achieve this impossibly fast construction rate by using a prefabricated modular technology developed by Broad Sustainable Building, a company that has built 20 tall structures in China so far, including the that 30-story hotel." Continue reading →

Continue ReadingChina Will Build the Tallest Building In the World in Just 90 Days

Road is built around a house after elderly Chinese couple refuse to move

"Luo Baogen and his wife insist on living in the half-demolished building in the city of Wenling, in Zhejiang province, China because they believe that the relocation compensation offered by the government is not enough. Now the only building left standing, the five storey block is a strange sight as cars drive around it while the couple remain living inside. In the People's Republic of China, during most of the Communist era, private ownership of property was abolished, making it easy for residents to be moved on - but now the laws have been tightened up and it is illegal to demolish property by force without an agreement." Continue reading →

Continue ReadingRoad is built around a house after elderly Chinese couple refuse to move

Portuguese Residency For Non-EU Citizens

"On October 9 2012 the Portuguese government passed a new law that will enable investors from non-EU countries to gain residency if they either transfer one million or more euros in capital into Portugal, form a business that creates a minimum of 30 jobs, or purchase a property to the value of a minimum of €500,000. Dubbed the 'Golden Passport,' this new visa will allow non-EU citizens to receive a Portugal visa, permitting them to enter and stay in Portugal assuming at least one form of investment is undertaken for a minimum period of five years." Continue reading →

Continue ReadingPortuguese Residency For Non-EU Citizens

Spain considers automatic residency to foreign home buyers

"Spain may offer automatic residency to foreigners such as Chinese and Russians who buy homes in the country, aiming to help the ruined housing market, a government official said Monday. 'We have proposed to the other ministries that for residents who acquire a home in Spain for more than 160,000 euros ($205,000), that will automatically entail a residency permit,' said junior trade minister Jaime Garcia-Legaz. Prime Minister Mariano Rajoy later told a news conference that 'no decision' had yet been taken on formally launching the scheme, but said that Spain’s stock of unsold housing needed to be sold at 'reasonable prices'." Continue reading →

Continue ReadingSpain considers automatic residency to foreign home buyers

Detlev Schlichter: Some personal thoughts on surviving the monetary meltdown

"That government bonds are a safe investment can, of course, not be left a matter of simple opinion but has to be enshrined in the laws of the land, and the state’s rapidly expanding finance constabulary is already working on it. Via legislation and regulation, the state is busily building itself a captive investor base for its own debt. I fear that to a large degree this is even welcome by the asset management industry. In an unstable and increasingly uncertain world, being told what to buy lifts a great responsibility off one’s shoulders." Continue reading →

Continue ReadingDetlev Schlichter: Some personal thoughts on surviving the monetary meltdown

Spain halts evictions of vulnerable homeowners

"Spain announced Thursday a two-year halt to evictions of the most vulnerable home owners as a public outcry mounted over suicides linked to desperate people facing expulsion. The Spanish Banking Association announced Monday it was freezing mortgage-related evictions for two years in extreme cases. Savings banks, too, suspended expulsions while awaiting new government rules. Many people were shocked by two suicides in 15 days by indebted homeowners facing expulsion in Spain, where both banks and borrowers were hammered by a 2008 property crash." Continue reading →

Continue ReadingSpain halts evictions of vulnerable homeowners

FHA exhausts reserves, may need bailout

"The Federal Housing Administration has exhausted its reserves, forcing it to institute another round of measures to shore up its finances. The government agency's capital cushion plummeted to -$16.3 billion at the end of fiscal 2012, according to a study prepared annually by an independent actuary. FHA is scheduled to present the assessment, along with its annual report to Congress, on Friday. HUD is expected to announce Friday a series of changes designed to improve the agency's financial position." Continue reading →

Continue ReadingFHA exhausts reserves, may need bailout

Gov. Christie Threatens NJ Residents With Post-Storm Tax Hikes

"Hey, somebody has to pay for the police that enforced his price controls on gasoline. Gov. Chris Christie is warning New Jerseyans living in storm-wrecked towns that they're likely to see higher local property taxes to help pay for rebuilding. Christie, dressed in a suit and tie, said an exemption to the state's 2 percent tax cap law is emergencies like Sandy, which destroyed coastal towns, knocked out rail service and left 2.7 million households in the dark. While municipalities can expect federal reimbursement for most storm-related cleanup costs, residents will most likely foot the bill for rebuilding." Continue reading →

Continue ReadingGov. Christie Threatens NJ Residents With Post-Storm Tax Hikes

SWAT team brought in to evict homeowner

"A two-county SWAT team was sent to a home in Idaho Springs to evict a 63-year-old woman. SWAT team members with assault rifles were sent in because two dozen protestors joined 63-year-old Sahara Donahue. The protestors were part of a group called the Colorado Foreclosure Resistance Coalition, which is part of the Occupy movement." Continue reading →

Continue ReadingSWAT team brought in to evict homeowner