foreclosure list

You've undoubtedly seen these or examine them. Glossy ads or four-color propagates in periodicals and magazines promising to show you all of the juicy information about successful real estate investing. And all you should do to learn every one of these real property investing surface encounters chuck russo secrets is to pay a rather high sum for a one-or two-day seminar.




Often these slick real estate investing seminars claim you could make intelligent, profitable real estate investments with zero money lower (except, of program, the hefty fee you purchase the class). Now, how appealing is in which? Make a profit from real property investments you made out of no money. Possible? Not probably.




Successful investment requires income. That's the character of any type of business or investment, especially real-estate investing. You put your money into a thing that you hope and plan is likely to make you more money.




Unfortunately too little newbies to the world of real-estate investing believe it's a magical form of business in which standard enterprise rules don't apply. Simply put, if you would like to stay in real estate investing for greater than, say, a evening or a couple of, then you will have to come up with money to make use of and make investments.




While it might be true that buying real-estate with no money down is simple, anyone that is even made a fundamental real estate investment (just like buying their very own home) is aware there's much more involved in property investing that will set you back money. For instance, what about any essential repairs?




So, the number 1 rule people not used to real property investing ought to remember would be to have available cash stores. Before you determine to actually carry out any real estate investing, save some funds. Having a little money in the bank when you start real est investing surface encounters chuck russo can help you make more profitable real estate investments in rental properties, for example.




When property investing within rental properties, you'll want in order to select just qualified tenants. If you have no cash flow when property investing in rental qualities, you may be pressured experience a much less qualified tenant because you need somebody to pay for you money to enable you to take care of repairs or lawyer fees.




For any type of real est investing, meaning local rental properties or perhaps properties you purchase to re-sell, having cash reserved can enable you to ask to get a higher cost. You can request a greater price from the owning a home because you surface encounters chuck russo won't feel financially strapped as you wait for an offer. You won't be backed into a corner and forced to accept just any offer because you desperately need the money.




Another downfall of several new to real estate investing will be, well, greed. Make the profit, yes, but will not become thus greedy that you simply ask regarding ridiculous rental or resale rates on many real estate investments.




Those a new comer to real estate investing must see real-estate investing being a business, NOT a hobby. Don't believe real est investing will make you rich overnight. What business does?




It will take about 6 months to figure out if real-estate investing in for you. If you have decided that, hey I enjoy this, then give yourself a few years to truly start earning profits. It typically takes at least five years being truly successful in real-estate investing.




Persistence may be the key to success in property investing. If you might have decided that property investing is for you, surface encounters chuck russo keep plugging away at it and the rewards will be greater than you imagined.

Socially responsible investments might be emotionally compelling investments, but do they necessarily have compelling financial returns?

The term "Impact Investing" has taken on many meanings in the past few years. I want to end the confusion and underscore that impact investing must by definition deliver impactful and compelling financial returns.

Impact investing has been labeled as a subset of socially responsible investing (SRI). But, it is not a subset of SRI.

The basic premise of socially responsible investing is to avoid investing in businesses that cause harm to the environment or society. Since SRI's approach to investing is narrow and passive, it is by definition often a niche investing strategy, which in many cases has delivered lukewarm returns.

SRIs don't necessarily impact an industry, impact investments necessarily do. Yet, many organizations still treat SRI and impact investing like synonyms - causing confusion.

For example, here is the definition of SRI from ecolife, a website that is an online guide to green living:

"Socially responsible investing is an investment strategy employed by individuals, corporations, and governments looking for ways to ensure their funds go to support socially responsible firms. The concept goes by names like sustainable investing, impact investing, community investing, ethical investing, and socially-conscious investing; it is a non-financial gauge that is used when selecting various investment options that takes into account factors such as environmental, social, and ethical values."

The reality is that some socially responsible investments can be impact investments, but not all impact investments are socially responsible investments. So, SRIs are really a subset of impact investing. According to the Monitor Institute's new report "impact investors want to move beyond 'socially responsible investment'."

All impact investments have the potential to move towards a new economy - an impact economy, not all SRIs will. In fact, most SRIs won't.

Why? Impact investing is socially responsible and must have compelling returns. Returns that make the professional investor consider it seriously as a critical piece in the portfolio. According to Dr. Arjuna Sittampalam, research associate with EDHEC-Risk Institute, "in other words, the investor makes an active decision to seek a social or developmental return alongside their financial return."

Since impact investments create compelling returns, they have a greater chance of attracting more serious professional investors than SRIs -- a necessity for creating worldwide social change and impact.

The Global Impact Investing Network (GIIN) defines impact investments as those that: "aim to solve social or environmental challenges while generating financial profit. Impact investing includes investments that range from producing a return of principal capital (capital preservation) to offering market-rate or even market-beating financial returns. Although impact investing could be categorized as a type of 'socially responsible investing,' it contrasts with negative screening, which focuses primarily on avoiding investments in 'bad' or 'harmful' companies - impact investors actively seek to place capital in businesses and funds that can harness the positive power of enterprise."

This definition is more on target with the real definition of impact investing, but to revise part of GIIN's definition: Impact investments only include investments that can offer market-rate or even market-beating financial returns.

So, my definition -- impact investing must achieve four significant goals:

1. Make an impact in solving a pressing problem of our time,

2. Generate compelling returns for investors,

3. Generate growth for economies, and

4. Generate prosperity for developed and developing nations.

An example is my own case-in-point. I founded SunEdison that created the power purchase agreement (PPA) model for the solar industry. This business model used net metering, streamlined interconnection standards, ways to connect to the grid, and actually provided a new solar power service to customers.

Investments in PPAs are delivering 7-12% unleveraged after tax returns. In today's financial environment; these are compelling returns given the low risks.

Plus, PPAs have lowered the use of fossil fuels to deliver electric energy; created thousands of jobs worldwide and are growing. They have impactful financial returns and impact a big problem.

According to the Monitor Institute's new report Investing for social and environmental impact: a design for catalyzing an emerging industry "it is certainly plausible that in the next five to 10 years investing for impact could grow to represent about 1 percent of estimated professionally managed global assets in 2008. That would create a market of approximately $500 billion. A market that size would create an important supplement to philanthropy, nearly doubling the amount given away in the U.S. alone today."

But that is only a start, a start to an "Impact Economy." To really make a difference - to leverage impact investing to create an impact economy, it must be larger. Some estimate that we need to invest over $1 trillion to combat issues like climate change, poverty, and lacking global health, to put the world back onto a stable more equitable footing.

So, let's put our money where the impact is. Stop selling impact investors short.

Jigar Shah is CEO of the Carbon War Room, a nonprofit that harnesses the power of entrepreneurs to implement market-driven solutions to climate change and create a post-carbon economy.

It is very difficult to determine the sex of a pigeon. I used to keep pigeons as a kid so I’m good at it.

There are three ways to do it:

1 – Check their reproductive organs

Pigeons genitalia all look the same (they have ‘cloaca‘) so you will have to cut them open to actually see their reproductive organs. Not a very efficient method.

2 – See who goes on top

There isn’t much variation in the sex life of a pigeon. Males go on top. No Kama Sutra here. Fortunately all they do is eat and, ehm, reproduce. You won’t have to wait very long to see that happen. But you do need 2 pigeons and some patience.

3 – Look at their faces

Yes, pigeons have faces just like humans.

It takes years to be able to read the face of a pigeon. I kept pigeons as a kid so I can tell the sex of any pigeon just by looking at their faces for few seconds. Just like with most humans. Humans have the added benefit of clothing, hair and breasts. But even without that a face looks feminine or masculine.

Investors try to look under all those feathers but up close all excel sheets look the same. They try to see who goes on top but then you would have to wait until the entrepreneur meets an actual client.

But once you have met enough starting entrepreneurs one look at someones face is usually enough. You know what you have got and who is a good bet and who isn’t.

Just like with pigeons.

This is a variation of post I published in 2007. Photo credit: Igor Stevanovic via Shutterstock.

foreclosure victims

Demand: fewer new households

Household creation depends on the state of the economy. The combination of high unemployment, weak wage and salary growth, and tight credit has led to a decline in household growth over the past few years. The two main surveys of household formation from the Census Bureau – the Housing Vacancy Survey and Current Population Survey – show that about 500,000 households were created annually over the past three years compared to an annual average of about 1.2 million during the first half of the decade (Figure 6). How can we explain such a notable drop in household formation?

Moving in with the folks

The obvious answer is to look at homeownership rates, which have tumbled to 66.9% from a peak of 69.2% in 4Q04. This translates to a loss of nearly 2.5 mn homeowners. Most of these homeowners became renters, which means they remain a household, but not all. As can be seen by the surge in the rental vacancy rate to 10.6%, it seems that there was not a perfect shift from homeowners to renters (Figure 7). This begs the question: what happened to these former households? There was doubling up among economically stressed households; in other words people moved in with friends or family. Many of these former homeowners were probably foreclosure victims (Figure 8).

As Figure 8 shows, household formation can also decline if there are fewer young households created to replace the aging homeowners. Given the nearly 10 point surge in the unemployment rate among 16 to 24 year olds from the trough to peak during this cycle, it seems like this was a considerable factor. A recent paper sponsored by the Research Institute for Housing America estimates that the probability of a young adult forming a household declines by 4% during a recession, and up to 10% if unemployed. In addition to the slowdown in “headship rates” domestically, there was a drop in household formation from immigration. According to the Office of Immigration Statistics at the Department of Homeland Security, the number of unauthorized immigrants decline by 1.0 million from 2007 to 2009 compared to a net gain of 1.3 million from 2005 to 2007.

Household growth to improve, but with a lag

Household formation will naturally pick up as the economy improves, but if our forecast for a sluggish recovery is realized, household growth will also be lackluster. The main factor influencing household growth will be the state of the labor market. The above-referenced paper finds that the unemployment rate must fall by 2pp from current levels to return to normal rates of household formation of about 1.2-1.4 million a year. We do not expect the unemployment rate to reach the mid-7% range until 2013, implying another two and a half years of sluggish household formation of about 800,000 a year. This is also when we expect the pace of foreclosures to slow notably, which means that fewer households will have to double-up.

Looking ahead to 2013 and beyond, we use forecasts from the Joint Center for Housing Studies at Harvard University. They present two possible trajectories for household growth: 1) an average of 1.48 million annually through 2020 assuming net immigration returns to the 2000-05 pace and headship rates at 2008 levels; and 2) an average of 1.25 million annually through 2020 assuming the same 2008 headship rates but slower immigration. We believe the latter is more likely and use this as our baseline forecast (Figure 9).

Renters will take market share

Although we expect household formation to start to improve in 2013, the homeownership rate should still fall further, suggesting that most of the gain in households will be due to an increase in renters. This is because there is still a considerable number of homeowners with mortgages in some stage of delinquency that are likely to end in foreclosure. Based on data from the Mortgage Bankers Association, there are about 5.5 mn seriously delinquent mortgages currently outstanding.

A recent paper by economists at the NY Federal Reserve (Haughwout, Andrew, Richard Peach, Joseph Tracy. “The Homeownership Gap”, Federal Reserve Bank of New York Current Issues in Economics and Finance, Volume 16, Number 5, May 2010) attempts to quantify the effective lower bound for the homeownership rate. They make the assumption that underwater borrowers (negative equity), who currently account for about a quarter of mortgage holders, will transition to renters over time. Subtracting these underwater borrowers yields an “effective homeownership rate” of 61.6% (Figure 10). This would be a record low in the data which goes back to 1965. We do not expect such a precipitous drop because not all underwater homeowners will become renters. Indeed, a recent study by Trulia.com and RealtyTrac found that 59% of respondents would not go into foreclosure simply because of negative equity. We believe it is more likely that the homeownership rate will bottom at 65%, returning to mid-1990s levels.

It is plainly obvious why the demand-side is so often ignored in polite conversation: it is the consumer-driven aspect of the house price variable, over which neither the Fed, nor the Treasury, nor the FHA has any authority, and which is a function purely of expectations of the future. Alas, those right now are lously and getting worse. We expect that Demand-side housing economics will take on progressively more importance in the future, as it becomes obvious that no amount of Supply-side tinkering will prevent another 20% drop in prices.

And speaking of Supply, this is also a critical factor, if much more prevalent in the daily media. Alas, that in itself does not make the problem any easier to resolve.

Two brothers have been charged with a widespread real estate fraud that provided them with a "lavish lifestyle," the San Diego County district attorney announced Tuesday.

David Zepeda, 57, and John Zepeda, 59, are charged with 104 felony counts that include identity theft, forgery, grand theft, rent skimming and conspiracy.  The brothers' scheme allegedly involved properties in several counties, more than 300 victims and losses of more than $1.5 million.

Investigators have seized items allegedly bought with the stolen funds, including silver coins, gold ounces, diamond bracelets, expensive watches and a Bentley automobile.

The scheme allegedly involved properties in foreclosure that the brothers acquired through phony quitclaims and forged deeds and then rented out. In other cases, the brothers allegedly convinced homeowners to transfer property to them as a way to avoid foreclosure.

"This is yet another example of the various types of foreclosure scams we continue to see in the county," said San Diego County Dist. Atty. Bonnie Dumanis.

-- Tony Perry in San Diego

Photo: Bentley seized during raid on brothers' residence in San Bernardino. Credit: San Diego County district attorney's office

eric seiger

Finally! <b>News</b> on When We&#39;ll See Terrence Malick&#39;s &#39;Tree of Life <b>...</b>

What's the best way to get an auteur to finish his long-awaited film? A deadline, of course! Everyone needs 'em, even (or especially) Terrence Malick,

<b>News</b> Roundup: Showtime Renews &#39;The Green Room,&#39; Casting Intel and More

Showtime has renewed its comedy series 'The Green Room with Paul Provenza' for a second season. According to Deadline Hollywood, production on the 6-

AMERICAblog <b>News</b>: Stop The Press

An NBC News spokesperson says: "Our policy is to cover news events as they take place, and report on them with context and perspective. The determination about what images are appropriate and will be broadcast will be made by NBC News ...

foreclosure agents

BR: Funny you say that — I referred to the NAR chief economist as Baghdad Bob in one of the “previously” links mentioned: Former NAR Economist David Lereah is a Jackass (January 6th, 2009)

Soylent Green Is People Says:



September 1st, 2010 at 11:11 am

If your stocked up on Insulin, try the ever sugary http://www.positiveonrealestate.com/ for your daily firehosing of rich, delicious Kool-Aid. You thought the NAR was hyper sunny. They’re simpletons compared to whomever runs this site.

You’ve been warned….

My .02c

Soylent Green Is People.

Soylent Green Is People Says:



September 1st, 2010 at 11:13 am

If you’re fully stocked with Insulin, try http://www.positiveonrealestate.com/ for a daily firehosing of rich, delicious Real Estate Kool-Aid. You think the NAR is hyper sunny? They’re simpletons compared to the people who run this site.

You’ve been fairly warned.

Soylent Green Is People.

ACS Says:



September 1st, 2010 at 11:32 am

How long before we reach Sanford’s step 12?

gavingunhold Says:



September 1st, 2010 at 11:45 am

I used to work at NAR. And I once time forwarded a blog post by Barry Ritholtz to Lawrence Yun, kind of just as a heads up. Lawrence was none too pleased. Heh.

JustinTheSkeptic Says:



September 1st, 2010 at 11:49 am

BR, you can continue with the “Bank Spin, Auto Company Spin, etc.” Take your pick….

rktbrkr Says:



September 1st, 2010 at 11:53 am

Take your pick…

“The manufacturing sector has maintained its momentum at least through August,” said Zach Pandl, an economist at Nomura Securities International Inc. in New York. The report “makes clear the economy is not slipping into recession any time but it’s still reasonable to be concerned about where we’re heading over the next three to six months.”

General Motors Co.’s sales fell 25 percent last month and trailed analysts’ estimates, as the U.S. auto industry headed for its worst August in 28 years.

GM said deliveries fell to 185,176 from 246,479 last August, when the U.S. government’s “cash for clunkers” incentive program boosted sales.

Soylent Green Is People Says:



September 1st, 2010 at 11:56 am

Regrets for the double post. The first one did not show so I rewrote it again. I confess to my foolishness.

machinehead Says:



September 1st, 2010 at 12:02 pm

Since the time I bought my first house, the cry of the Realtor(TM) has been, ‘Buy now, before prices go up!’

They are Permabulls, like many Wall Street brokers — not to be taken seriously. Pay them for transacting, not for their stuck-clock market predictions.

And — until proven otherwise — don’t regard them as professionals. That’s what the idiot NAR has accomplished — to deprofessionalize the image of a group which includes some very dedicated people. It took the NAR decades of hard work to break into the circus-clown limelight. Take a bow, bozos!

lalaland Says:



September 1st, 2010 at 12:07 pm

I doubt it’s the NAR’s fault that people expect their homes to appreciate 10% a year. Nobody really pays attention to them outside the statistics junkies I would wager. I blame exactly the kind of stupidity that has proven to be rampant across all sectors of the economy. Oh, and, you know – unrelated – it’s time to go watch Dick Fuld.

Mark Wolfinger Says:



September 1st, 2010 at 12:16 pm

The news media eat up those NAR reports.

Surely you have contacts at the big media to whom you can pass along this report with the hope that someone does the right thing.

http://blog.mdwoptions.com/options_for_rookies/

Expat Says:



September 1st, 2010 at 12:21 pm

There is no one thing to blame for all this. The NAR is not the cause of the bubble. Wall Street is the proximate facilitator but not really the cause. Washington was a complicit beneficiary but not the cause. Assholes who bought homes that cost more than three times their income are victims and perpetrators but not truly guilty of anything but stupidity and gullibility. Lereah, Yun, and the NAR are in the unfortunate position of being mouthpieces for this mass hysteria so they are singled out.

But in reality, Lereah is no worse than any US president or member of congress when it comes to huge, important lies. What about the pope or any priest with a pulpit? The hellfire and brimstone, homophobic racists on the Bible Belt circuit? Imams calling for jihad. Etc.

Personally, I think the NAR is guilty of high crimes and treason against the US, having done more damage to our country than any blind or diabetic islamic terrorist. And what do we try to do to islamic terrorists? And what should we do to all members of the NAR? Anyone? Anyone? Bueller?

How the Common Man Sees It Says:



September 1st, 2010 at 1:03 pm

What do they expect when they are always selling houses as investments and not places to live? In the investing world RE is the equivalent of the summer resort if we are talking timing. What I’m saying is that the owners of a summer resort know their product is only marketable a few months out of the year and that is what they target for.

Do you think the folks in the RE industry and/or the NAR want to be telling folks their ‘investment dream’ is only a great deal a few years out of many in the investment cycle? NO! That would put them out of business for years until the crowds came back every cyclical summer

That’s not gonna happen

d4winds Says:



September 1st, 2010 at 1:31 pm

Red pill HGTV sounds like a fabulous idea–to replace that NAR of the “financial” TV, CNBC.

Julia Chestnut Says:



September 1st, 2010 at 3:04 pm

The NAR are liars, and they aren’t even very good at it. Lawrence Yun is a laughing stock. The people who need to be strung up are the corporate media outlets that just take the press releases full of whoppers along the lines of “cotton candy cures cancer!!!!!!!!” and reprinting it along side what passes for “news.”

Industry shills are industry shills and always have been. What has changed is any semblance of concern for truthful and accurate reporting of statistics, facts, and trends. Statistics, facts, and trends are considered so malleable these days, no one worries about what conflicts of interests the spinners may have – they just care how little they have to rewrite it from the NAR’s website before press/broadcast time.

Despicable.

TomL Says:



September 1st, 2010 at 4:35 pm

Why is that *every* article written by or quoting a real estate professional includes the refrain “It’s never been a better time to buy.” ?

Reminds me of the warning how do you know a politician is lying…

loganagent Says:



September 1st, 2010 at 6:55 pm

It’s so true I recently had an experience where the local newspaper quoted me, after I said that our local market was going to decline, in my blog: http://loganrealestate.blogspot.com/2010/02/number-of-logan-homes-for-sale.html The local Board President came to me and told me not to speak with the media anymore. He said those in leadership had special “training” in how to handle media.

The ironic thing is that my market falling predictions came true. But we don’t want the public to know the truth do we.

philipat Says:



September 1st, 2010 at 8:37 pm

The “Blue Pill” being Viagra. Or, in other words the NAR is saying “Up yours”?!!

Very appropriate!

IrvineRenter Says:



September 1st, 2010 at 9:30 pm

I have beaten up on RE agents a couple times over the last year:

http://www.irvinehousingblog.com/blog/comments/realtors-treated-as-lackeys-and-maids-grovel-for-6/

and

http://www.irvinehousingblog.com/blog/comments/urgency-versus-reality-realtors-win-buyers-lose-14-jackson-irvine/

I totally agree with your assessment of the foolish way they operate. In fact, the growth of my side business as a broker is largely due to the fact that I refuse to spin BS the way they do.

BTW, thank you for the link yesterday. I greatly appreciate it, and I am flattered that you stop by and read my blog.

canoles Says:



September 2nd, 2010 at 8:36 am

“In other words, mislead the public with spin. Create false hope. Lie.” – Sir, that is NAR’s job as a trade association. Please name one trade association that does not do this.

BR: Funny you say that — I referred to the NAR chief economist as Baghdad Bob in one of the “previously” links mentioned: Former NAR Economist David Lereah is a Jackass (January 6th, 2009)

Soylent Green Is People Says:



September 1st, 2010 at 11:11 am

If your stocked up on Insulin, try the ever sugary http://www.positiveonrealestate.com/ for your daily firehosing of rich, delicious Kool-Aid. You thought the NAR was hyper sunny. They’re simpletons compared to whomever runs this site.

You’ve been warned….

My .02c

Soylent Green Is People.

Soylent Green Is People Says:



September 1st, 2010 at 11:13 am

If you’re fully stocked with Insulin, try http://www.positiveonrealestate.com/ for a daily firehosing of rich, delicious Real Estate Kool-Aid. You think the NAR is hyper sunny? They’re simpletons compared to the people who run this site.

You’ve been fairly warned.

Soylent Green Is People.

ACS Says:



September 1st, 2010 at 11:32 am

How long before we reach Sanford’s step 12?

gavingunhold Says:



September 1st, 2010 at 11:45 am

I used to work at NAR. And I once time forwarded a blog post by Barry Ritholtz to Lawrence Yun, kind of just as a heads up. Lawrence was none too pleased. Heh.

JustinTheSkeptic Says:



September 1st, 2010 at 11:49 am

BR, you can continue with the “Bank Spin, Auto Company Spin, etc.” Take your pick….

rktbrkr Says:



September 1st, 2010 at 11:53 am

Take your pick…

“The manufacturing sector has maintained its momentum at least through August,” said Zach Pandl, an economist at Nomura Securities International Inc. in New York. The report “makes clear the economy is not slipping into recession any time but it’s still reasonable to be concerned about where we’re heading over the next three to six months.”

General Motors Co.’s sales fell 25 percent last month and trailed analysts’ estimates, as the U.S. auto industry headed for its worst August in 28 years.

GM said deliveries fell to 185,176 from 246,479 last August, when the U.S. government’s “cash for clunkers” incentive program boosted sales.

Soylent Green Is People Says:



September 1st, 2010 at 11:56 am

Regrets for the double post. The first one did not show so I rewrote it again. I confess to my foolishness.

machinehead Says:



September 1st, 2010 at 12:02 pm

Since the time I bought my first house, the cry of the Realtor(TM) has been, ‘Buy now, before prices go up!’

They are Permabulls, like many Wall Street brokers — not to be taken seriously. Pay them for transacting, not for their stuck-clock market predictions.

And — until proven otherwise — don’t regard them as professionals. That’s what the idiot NAR has accomplished — to deprofessionalize the image of a group which includes some very dedicated people. It took the NAR decades of hard work to break into the circus-clown limelight. Take a bow, bozos!

lalaland Says:



September 1st, 2010 at 12:07 pm

I doubt it’s the NAR’s fault that people expect their homes to appreciate 10% a year. Nobody really pays attention to them outside the statistics junkies I would wager. I blame exactly the kind of stupidity that has proven to be rampant across all sectors of the economy. Oh, and, you know – unrelated – it’s time to go watch Dick Fuld.

Mark Wolfinger Says:



September 1st, 2010 at 12:16 pm

The news media eat up those NAR reports.

Surely you have contacts at the big media to whom you can pass along this report with the hope that someone does the right thing.

http://blog.mdwoptions.com/options_for_rookies/

Expat Says:



September 1st, 2010 at 12:21 pm

There is no one thing to blame for all this. The NAR is not the cause of the bubble. Wall Street is the proximate facilitator but not really the cause. Washington was a complicit beneficiary but not the cause. Assholes who bought homes that cost more than three times their income are victims and perpetrators but not truly guilty of anything but stupidity and gullibility. Lereah, Yun, and the NAR are in the unfortunate position of being mouthpieces for this mass hysteria so they are singled out.

But in reality, Lereah is no worse than any US president or member of congress when it comes to huge, important lies. What about the pope or any priest with a pulpit? The hellfire and brimstone, homophobic racists on the Bible Belt circuit? Imams calling for jihad. Etc.

Personally, I think the NAR is guilty of high crimes and treason against the US, having done more damage to our country than any blind or diabetic islamic terrorist. And what do we try to do to islamic terrorists? And what should we do to all members of the NAR? Anyone? Anyone? Bueller?

How the Common Man Sees It Says:



September 1st, 2010 at 1:03 pm

What do they expect when they are always selling houses as investments and not places to live? In the investing world RE is the equivalent of the summer resort if we are talking timing. What I’m saying is that the owners of a summer resort know their product is only marketable a few months out of the year and that is what they target for.

Do you think the folks in the RE industry and/or the NAR want to be telling folks their ‘investment dream’ is only a great deal a few years out of many in the investment cycle? NO! That would put them out of business for years until the crowds came back every cyclical summer

That’s not gonna happen

d4winds Says:



September 1st, 2010 at 1:31 pm

Red pill HGTV sounds like a fabulous idea–to replace that NAR of the “financial” TV, CNBC.

Julia Chestnut Says:



September 1st, 2010 at 3:04 pm

The NAR are liars, and they aren’t even very good at it. Lawrence Yun is a laughing stock. The people who need to be strung up are the corporate media outlets that just take the press releases full of whoppers along the lines of “cotton candy cures cancer!!!!!!!!” and reprinting it along side what passes for “news.”

Industry shills are industry shills and always have been. What has changed is any semblance of concern for truthful and accurate reporting of statistics, facts, and trends. Statistics, facts, and trends are considered so malleable these days, no one worries about what conflicts of interests the spinners may have – they just care how little they have to rewrite it from the NAR’s website before press/broadcast time.

Despicable.

TomL Says:



September 1st, 2010 at 4:35 pm

Why is that *every* article written by or quoting a real estate professional includes the refrain “It’s never been a better time to buy.” ?

Reminds me of the warning how do you know a politician is lying…

loganagent Says:



September 1st, 2010 at 6:55 pm

It’s so true I recently had an experience where the local newspaper quoted me, after I said that our local market was going to decline, in my blog: http://loganrealestate.blogspot.com/2010/02/number-of-logan-homes-for-sale.html The local Board President came to me and told me not to speak with the media anymore. He said those in leadership had special “training” in how to handle media.

The ironic thing is that my market falling predictions came true. But we don’t want the public to know the truth do we.

philipat Says:



September 1st, 2010 at 8:37 pm

The “Blue Pill” being Viagra. Or, in other words the NAR is saying “Up yours”?!!

Very appropriate!

IrvineRenter Says:



September 1st, 2010 at 9:30 pm

I have beaten up on RE agents a couple times over the last year:

http://www.irvinehousingblog.com/blog/comments/realtors-treated-as-lackeys-and-maids-grovel-for-6/

and

http://www.irvinehousingblog.com/blog/comments/urgency-versus-reality-realtors-win-buyers-lose-14-jackson-irvine/

I totally agree with your assessment of the foolish way they operate. In fact, the growth of my side business as a broker is largely due to the fact that I refuse to spin BS the way they do.

BTW, thank you for the link yesterday. I greatly appreciate it, and I am flattered that you stop by and read my blog.

canoles Says:



September 2nd, 2010 at 8:36 am

“In other words, mislead the public with spin. Create false hope. Lie.” – Sir, that is NAR’s job as a trade association. Please name one trade association that does not do this.

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Football Spy transfer <b>news</b> video: The latest on moves for Sol <b>...</b>

Sol Campbell, Javier Mascherano, Mario Balotelli and Manuel Almunia feature on today's Football Spy Show.

Robert Naiman: Defense <b>News</b>: War Supplemental Not Needed to Fund <b>...</b>

If the war supplemental is not approved this week, the troops will still be paid and the troops will still be fully supplied. There is no "emergency" requiring action this week.

Sony unveils 24mm F2, 35mm F1.8 and 85mm F2.8 Alpha lenses <b>...</b>

Sony unveils 24mm F2, 35mm F1.8 and 85mm F2.8 Alpha lenses: Sony has released three prime lenses for its Alpha SLR system. First up is the eagerly-awaited Carl Zeiss Distagon T* 24mm F2 SSM, which we saw in prototype form at PMA.

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Football Spy transfer <b>news</b> video: The latest on moves for Sol <b>...</b>

Sol Campbell, Javier Mascherano, Mario Balotelli and Manuel Almunia feature on today's Football Spy Show.

Robert Naiman: Defense <b>News</b>: War Supplemental Not Needed to Fund <b>...</b>

If the war supplemental is not approved this week, the troops will still be paid and the troops will still be fully supplied. There is no "emergency" requiring action this week.

Sony unveils 24mm F2, 35mm F1.8 and 85mm F2.8 Alpha lenses <b>...</b>

Sony unveils 24mm F2, 35mm F1.8 and 85mm F2.8 Alpha lenses: Sony has released three prime lenses for its Alpha SLR system. First up is the eagerly-awaited Carl Zeiss Distagon T* 24mm F2 SSM, which we saw in prototype form at PMA.

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Yet another sad story about the lack of compassion and empathy for our fellow Americans. We need a single payor, buy-in medicare, anything better than allowing "fully covered" illnesses bankrupt those we know and love.

www.congress.org to write or call our congress about the need for coverage. The insurance companies are making record profits while increasing co-pays of the ill person, this has got to stop now!

Lest anyone whine about people asking for help, there's no help unless you are POOR! Some people think medicaid kicks in for ill people - it doesn't unless you have $2000 or less including savings, 401k, DC's, no assets other than a home (in foreclosure for many), personal property and 1 car (the 2nd is counted and if over $2000 too bad for you) - everything else you might "have" is counted and you aren't eligible for any financial help!

Americans facing bankruptcy and foreclosure due to illness is nothing new and so few are willing to help for fear it may take away from "me and mine". This problem needs to be solved by our congress instituting a single payor, Medicare buy-in or something similar to prevent families of ill individuals from losing everything including their beloved family member.

The Senate showed strong support for the Dodd-Frank Wall Street Reform and Consumer Protection Act by passing it with a 60-39 vote. It will be sent to the White House where President Obama is expected to sign it into law next week.

This historic bill represents a principled effort to bring financial fairness to all Americans and to ensure that lending transactions be both honest and transparent. Any policy that protects those consumers who do not have the means to protect themselves is a step in the right direction.

Many urban communities in America today are in a state of emergency, requiring the highest and most urgent attention of the private and public sectors. Passing the Dodd-Frank Wall Street Reform and Consumer Protection Act opens the way for a system that oversees the practices of participants in the financial markets, rewarding those who conduct business in the spirit of honest free trade and holding accountable those who continue predatory and abusive practices.

Certain provisions of the bill go a long way toward addressing the needs of the roots of our economic tree. In particular, this bill effectively addresses the root causes of the predatory lending induced mortgage meltdown that ultimately triggered the global economic crisis.

We are relieved and grateful that the final conference report addresses the crucial issue of foreclosure prevention. While 2.5 million families have already lost their homes to foreclosure, well over 5 million more are in imminent danger of doing so, and potentially as many as 13 million could lose their homes before the end of this crisis if they do not get some kind of assistance.

Overall, homeowners in America will be much safer as a result of the new mortgage standards. More effective foreclosure prevention will not only help homeowners, but also will help stabilize the economy and contribute to a strong recovery.

Again, we very much appreciate the act of congressional leadership shown by passing this historic legislation.

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BP Confirms Lobbying UK Ahead of Lockerbie Bomber Abdel Baset al <b>...</b>

(July 15) -- Amid a new US furor over trading a terrorist for commercial considerations, BP confirmed today that it had lobbied the British government in late 2007 over a prisoner transfer agreement with Libya prior to the release of ...

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Opinion, News, Analysis, Videos and Polls.

openSUSE <b>News</b> » openSUSE 11.3 is here!

19 July: Birthday of openSUSE News; 21 July: German Wiki Team Meeting; 24 July: Hadoop Lab with openSUSE in Taiwan; 28 July: German Wiki Team Meeting; 28 July: openSUSE Project Meeting. Categories ...

foreclosure homes

Today, the National Council of La Raza (NCLR) launched a five-part weekly blog series titled Too Little to Save. Each installment will spotlight a family and describe their struggles with foreclosure. A recent study authored by NCLR and the Center for Community Capital at the University of North Carolina found that family bonds were profoundly distressed by this ordeal.

We are deeply concerned about what will come of this foreclosure generation and what it means for the nation if families continue to lose their homes. The following is the story of the Nogales family.

On the west coast of Florida, the Nogales family has been split up by foreclosure. Ms. Nogales, a single mother who has a 17-year-old daughter and two sons, ages 18 and 25, experienced a loss in income that triggered a series of events ending in foreclosure.

First, it was a loss of income. Second, my mortgage loan actually increased because of taxes, which, of course, put me behind because with my less income and my mortgage up, I was not able to pay it, the adjustable loan. I had homeowner's dues, too, and they all went up.



Foreclosure triggered contention between the family members. Faced with eviction, the mother moved into her sister's home. However, the home was too small to accommodate her two older boys, so they were forced to move out on their own with little warning and before they were financially prepared to do so. This separation created conflict, anxiety, and feelings of guilt. Ms. Nogales describes the tension:

Well, for one thing, I think my boys are jealous because I'm providing for [my daughter] and not helping them out. So of course they're jealous...My daughter and I have moved in with my sister, which I never thought I would ever have to do. Never thought I would be living with my sister at this age. One of the boys comes and stays periodically with me and with a friend and the other one stays with a friend.



She goes on to express concerns about her son's anger:

My 18-year-old has been in trouble with fighting...But not with the other son, with other people...He has a lot of anger.

The foreclosure has hindered her daughter's education and emotional state. After the family lost their car due to financial difficulties, her daughter had no other means to get to school. She was forced to transfer to an online program to complete high school. Removed from her friends and social network, the daughter became withdrawn and depressed.

Ms. Nogales' extended family used to help each other during hard times. Unfortunately, the entire family is now struggling financially.

My parents are still here and their house actually is in the process of probably going into foreclosure. So it could end up where about seven of us are all living in one place and, of course, we won't even know where that is yet, depending on the house with my sister. Ours is like a domino effect. It's like one went into foreclosure, then another one, because we're all trying to help each other financially. But we're having to not pay this to help pay that to keep this house and it just gets―it worked for a little while. It's not working anymore.



Ms. Nogales is concerned about the extinction of the American Dream. She worries about how this economic crisis promises a very difficult start for the next generation entering the workforce and the housing market.

I think my kids are just finally looking at it going, "Oh, my gosh. We thought we were going to have [the American Dream]." I mean they're seeing [the dream vanish], too. They're seeing me struggle.



I don't think [the American Dream] is available and likely to happen for a lot of people. I feel bad for these people that come out of college. My kids are going to be going into college, hopefully. I don't know what kind of future they're going to have with being able to come out of school. I feel scared for them and sorry for them for what the next ten years are going to be like for our youth.



Unfortunately, many more families will suffer this way before the foreclosure crisis subsides. In fact, 1.3 million Latino families are expected to lose their home between 2009 and 2012. The Nogales family's story is just one among millions. By sharing their story, we hope to give a face to a crisis often glossed over by complicated economic theories and staggering statistics. To get beyond the numbers, NCLR is recording the human realities of foreclosure to give struggling families a voice before decision-makers who have the power to curb the rate of home loss. If you or someone you know has been affected by the risk of losing his or her home, I encourage you to share your story.

Foreclosure Mediation Programs Succeed Across The Country — Will Pawlenty Give Minnesota’s A Chance?

Today, across the country, mortgage mediation programs aimed at helping struggling homeowners stay in their homes are getting underway. Programs are launching in Maryland, as well as Florida’s 6th and 10th judicial circuits — encompassing Pasco, Pinellas, Hardee, Highlands, and Polk counties — while Cook County, Illinois is beginning a huge round of outreach for its burgeoning program.

In all, “the number of jurisdictions with foreclosure mediation programs is nearly double the number a year ago, with jurisdictions in 21 states now offering foreclosure mediation or negotiation programs.” Not on this list, however, is Minnesota, where Gov. Tim Pawlenty (R) saw fit to veto a program last year.

The Minnesota state senate recently passed the bill again, sending it to the state House, so Pawlenty could very well get a second shot soon. And there’s simply no reason for him to oppose the program, as mediation — during which a bank meets face-to-face with a borrower, often in the presence of a judge and housing advocates, to try and forge a mortgage modification or other arrangement that prevents a foreclosure — is one of the most successful methods of helping struggling borrowers stay in their homes.

Connecticut’s mediation program, for instance, has kept 60 percent of its borrowers out of foreclosure. Philadelphia’s success rate is also 60 percent, while Nevada claims an 85 percent success rate:

About 80 percent of homeowners at risk of losing their homes don’t engage in any efforts to negotiate with their lender. And those who do so on their own often run into a bureaucratic mess, including hours on hold, lost records, and customer service representatives who know nothing about the borrower’s situation. Mediation helps to ensure that situations like that don’t happen.

“These new protections empower our fellow Marylanders, putting them on a more equal footing with mortgage companies that too often can’t be bothered to pick up the phone before beginning a foreclosure proceeding against a Maryland family,” said Governor Martin O’Malley (D). And lest Pawlenty think this is a purely partisan issue, it has also won the praise of Gov. Jodi Rell (R-CT). “Clearly, mediation is an effective tool homeowners can use to ward off foreclosure,” she said. “This program is a beacon of hope for hard-pressed homeowners and a real alternative for lenders.”

In mediation, there’s no requirement for a lender to accommodate a borrower, but it’s often the case that preventing a foreclosure is in the best financial interest of both the borrower and the lender. As CAP’s Andrew Jakabovics and Alon Cohen wrote, “the simple act of participating in mediation consistently yields solutions short of foreclosure that are acceptable to both sides.” Hopefully, should the Minnesota legislature do the right thing and create a program, Pawlenty will allow it to stand.

Mike Fuljenz Mike Fuljenz

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"The U.S. health care system was already facing a shortage of approximately 150,000 doctors in the next decade or so, but thanks to the health care "reform" bill passed by Congress, that number could swell by several hundred thousand more Source: American Medical Association via thetruthwins.com"



The "source" was the AAMC, not the AMA. Your primary source, thetruthwins.com, states that the US "will likely face a shortage of as many as 150,000 doctors", whereas the WSJ article it references states,

"At current graduation and training rates, the nation could face a shortage of as many as 150,000 doctors in the next 15 years, according to the Association of American Medical Colleges."

A minor grievance and semantics it may be, but "could" is hardly the same as "will likely". However, the WSJ article cites the true cause of the shortage as the number of available resident positions, rather than the boom in newly covered patients, as the ultimate cause of doctor shortages.



"There is a shortage of medical resident positions...Teaching hospitals rely heavily on Medicare funding to pay for these slots. In 1997, Congress imposed a cap on funding for medical residencies, which hospitals say has increasingly hurt their ability to expand the number of positions."



To imply that the latest health care reform bill is the straw that breaks the camel's back is to be less than truthful. It may increase the doctor to patient ratio, but the shortage will never be resolved until this resident bottleneck is addressed. Also, in your same source article on thetruthwins.com, the author plainly states, "According to a survey published in a recent issue of the New England Journal of Medicine, nearly one-third of all practicing physicians in the United States may leave the medical profession because of the health care legislation that was just passed." This is libel, at best. The NEJM is not responsible for the study, and the provided link points to yet another link, stating "the opinions expressed in the article linked to above represent those of The Medicus Firm only. That article does not represent the opinions of the New England Journal of Medicine or the Massachusetts Medical Society." As an astute commenter on thetruthwins.com points out:



"That survey was reported on not published by the NEJM. Being published by them requires the survey to be peer reviewed, being reported requires it only be newsworthy. Reading the methodology of the study is has numerous problems the biggest being:

1. The sample wasn’t truly random.

2. There are no control questions."



I'll add to that that the Medicus Firm, the company that conducted the study, " highest quality permanent physician recruitment services to our clients." Their clients being hospitals or other facilities in need of medical staffing. A conflict of interest, to be sure, as it would be in the Medicus Firm's best interest to present the worst case scenario. When the impending mass exodus of doctors from the medical field does occur, why not hire a"a physician search firm that can produce timely and impressive results without creating undue financial strain"? Why not hire Medicus? Internet journalism at it's finest.

Black women have emerged triumphant in May’s official unemployment data, with a decrease of 10 per cent in unemployment from 13.7 per cent in April to 12.4 per cent in May.

Data from the U.S. Bureau of Labor Statistics positioned black women as the strongest performing demographic in the decline of unemployment across race and gender categories.

There was no change to the rate of unemployment of white women, which might suggest a reduction to the large unemployment gap between black and white women.

However, since February  the unemployment rate of white women has decreased one percentage point to 7.4 per cent, while that of black women has fluctuated around a rate of 13 per cent. This represents a difference of approximately 65 per cent.

Additional data compared across the twelve months from May 2009 to May 2010 indicate that the amount of black women in employment fell almost 1 percentage point from 56.5 to 55.6.

Education was also a factor in last month’s data, as unemployment levels for those without a high school diploma remained three times higher than those who had graduated.

The 52 per cent gap between the unemployment rates of black and white teenagers however remained largely unchanged.

White teenagers suffer an unemployment rate of 24.4 per cent, while 37.3 per cent of black teenagers are currently without work.

US economic data has been positive in recent times. A survey by Manpower Inc. suggested that of the 18,000 employer participants, 18 per cent were considering increasing their staff in the third quarter.

Some areas of the country however are particularly unfavourable for black workers.

Economic Policy Institute, based in Washington, released a study Tuesday highlighting total black unemployment rates of 20.9 per cent, 20.4 per cent and 13.3 for Detroit, Minneapolis and St. Louis respectively.

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Black Residents In Memphis Lose Decades Economic Of Gains

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