Monthly Archives: May 2009

How to Fix the U.S. Financial Crisis (Scientific American)

Jeffrey D. Sachs of Scientific American raises many interesting points about Note: This Sustainable.

Jeffery D. Sachs

Editor’s Note: This “Sustainable Developments ” column will be printed in the December 2008 issue of Scientific American.

Read the whole article

Interesting Housing News Links (May 07, 2009)

* Blackouts and Cascading Failures of the Global Markets (Jeffrey D. Sachs, Scientific American)

Editor’s Note: This is the extended version of the “Sustainable Developments” column from the January 2009 issue of Scientific American.

* Protesters disrupt foreclosure auctions in Sacramento (Jim Wasserman, Sacramento Bee)

Protesters disrupted several foreclosure auctions Tuesday on the Sacramento County Courthouse steps, winning a temporary cancellation of one and sending an unidentified auctioneer to the hospital with chest pains.

* Sympathetic Victims? (Gwen Moritz Editor’s Note) (Gwen Moritz, Arkansas Business)

Our recent story about people who invested tens and hundreds of thousands of dollars in stock peddled by Darrell Lainhart of Sherwood included several sympathetic victims: A woman who needs the $30,000 her husband invested because hes now in a nursing home with Alzheimers disease, a disabled veteran, a man who hoped to become a full-time missionary.

* Treasure Coast homes sales increase, but at lower prices (Paul Ivice, Jupiter Courier)

Realtor sales of existing homes in St. Lucie and Martin counties in March nearly mirrored statewide numbers, with a 27 percent increase in sales but a 30 percent drop in the median price compared with a year ago.

* Assessing the future of the Cal Neva Resort and Casino (Annie Flanzraich, N Lake Tahoe Bonanza)

Nev. Since the Cal Neva Resort, Spa and Casinos bidder-free, two-state auction earlier this month, more than 25 new interested investors have inquired about the hotel and casino, said Steve Sugarman, a spokesman for owner Canyon Capital Realty Advisors.

Continue reading

Interesting Housing News Links (May 06, 2009)

* Stocks surge as S&P 500 erases losses for the year (Gatehouse Media, The Independent)

* Is recession on the wane? (Jeannine Aversa, Courier-Journal)

* Subprime lobbyists in $370m battle (Edward Luce, The Financial Times)

* Senate moves toward easing mortgage terms (Anne Flaherty, Muscatine Journal)

* Editorial: Predatory lending bill needs to be refined (Gatehouse Media, Evening Times)

* View of the Day: Markets make feverish recovery (Kevin Gardiner, The Financial Times)

* Urban Policy (The Brian Lehrer Show: Wednesday, 29 April 2009) (Public Radio, WNYC)

* House prices have fallen by �45000 from peak Halifax says (Harry Wallop, Telegraph)

* Fed chief: Economy to revive in ’09 (Jeannine Aversa, Columbus Dispatch)

* L.I. POL TOOK CASH FOR CONTRACTS (Kieran Crowley, New York Post)

“Stress test” reportedly shows Wells Fargo needs more capital (Denver Post)

Here is today’s article from Denver Post.

Regulators have told Wells Fargo it may need to shore up its finances after government “stress tests” showed the bank would have trouble surviving a deeper recession.

Read the whole article

Interesting Housing News Links (May 06, 2009)

* In Bank Demolition Echoes of the Great Depression (Emily Friedlander, Wall Street Journal)

In an image that echoes scenes of the Great Depression, a Texas bank has just finished up demolishing 16 new and partially built houses it acquired in Southern California through foreclosure. The bank determined that wrecking the homes was more cost-effective than finishing and selling them.

* Report: Too many recyclables in city’s dump (Brian Nearing, Times Union)

Too much paper that ought to be recycled is winding up in the city’s Rapp Road dump, according to a consultant’s report.

* Paying flooding costs with no flood insurance (Brandi Hodges, KAIT)

With more rain on the way folks are wasting no time ripping out what the floods destroyed. For some, cleaning up could clean out their bank accounts. Some people who live along the flooded areas of Trumann have flood insurance but others do not. Insurance is available but it does come at a cost.

* Who really killed bankruptcy reform? (Emily.Flitter, American Banker)

The banking industry expressed grave fears over the mortgage cramdown legislation that failed in a Senate vote last week , but a post-mortem on the scene makes that anxiety seem a little overhyped. With so many different groups vying to kill the legislation, the vote last week was never a nail-biter.

* Police: New system will cut down on false alarms (Lee Mc Guire, KHOU)

Every day, Houston police respond to nearly 300 burglar and panic alarms. Each of those alarms takes two officers nearly an hour to deal with, and almost every one of those calls is false.

Continue reading

Interesting Housing News Links (May 05, 2009)

* Notices of Valuation in the mail (Peter Jones, Colorado Community Newspapers)

Arapahoe County property owners should be receiving their notices of valuation from the county soon and will have the opportunity to appeal their property values.

* Collect your water in a rain barrel (Carole Fader, Florida Times-Union)

Rainwater collection in rain barrels is one good way to help keep your garden, grass and wallet green, said Devon Ritch of Earth Works, a landscape and garden center on Jacksonville’s Southside.

Interesting Housing News Links (May 05, 2009)

* Collect your water in a rain barrel (Carole Fader, Florida Times-Union)

Rainwater collection in rain barrels is one good way to help keep your garden, grass and wallet green, said Devon Ritch of Earth Works, a landscape and garden center on Jacksonville’s Southside.