News, Commentary, & Analysis. Mar. 6, 2014. #RealEstate #Insurance #Economics

Linking ≠ endorsement. Enjoy and share:

Table of Contents
(Click to sections below.)

1) World Economy Symposium: Why Falling Housing Prices Won't Crash China's Economy – YouTube

2) Stanford simulations show offshore wind farms could tame hurricanes – YouTube

3) Undercover sting nabs six phony contractors | Recordnet.com

4) Tax Liens and Deeds: Things to Know Before Bidding

5) Tenant has a collection of lawsuits against landlords – Chicago Tribune

6) 3 Tips for Implementing Business Intelligence into Your Multi Family Asset Lifecycle

7) Sinkhole in Oxnard disrupts traffic – Ventura County Star

8) Toms River fire destroys one Sandy-damaged home, ignites another | The Asbury Park Press NJ | app.com

9) House passes flood insurance bill

10) Register Investigation: Iowa's asbestos inspectors overloaded | The Des Moines Register | desmoinesregister.com

11) Oxford fire codes may get some teeth – Washington Times

12) NEW ORLEANS: Panel rules spill claims don't need direct harm – Business Wires – MiamiHerald.com

13) Fire officials issue warning about e-cigarette dangers | MailTribune.com

14) Los Angeles moves to ban e-cigarettes, joining NY, others | Reuters

  1.    World Economy Symposium: Why Falling Housing Prices Won't Crash China's Economy – YouTube

    A correction in Chinese housing prices won't sink its economy — unlike what happened in the United States, says Shang-Jin Wei, Faculty Director of the Chazen Institute of International Business and NT Wang Professor of Chinese Business and Economy at Columbia Business School.

    We just can't agree that there hasn't been massive overbuilding given the prevailing wage rates in China. Most common workers cannot afford to live in the properties purchased by investors. Holding one's breath waiting for wages to rise to that affordability level seems to us to be putting investment earnings on hold, save for bubbling values, which certainly could crash.

    Add your comment.


  2.    Stanford simulations show offshore wind farms could tame hurricanes – YouTube

    Computer simulations by Professor Mark Z. Jacobson have shown that offshore wind farms with thousands of wind turbines could have sapped the power of three real-life hurricanes, significantly decreasing their winds and accompanying storm surge, and possibly preventing billions of dollars in damages.

    Now if we can just get them to run backwards … (kidding?)

    Add your comment.


  3.    Undercover sting nabs six phony contractors | Recordnet.com

    "Inviting an unlicensed contractor into your home is like playing with a stick of dynamite; definitely not worth the risk," license board Registrar Steve Sands said.

    "You always should check CSLB's website – cslb.ca.gov – to see if the person bidding on your job has an active contractor license that is in good standing," Sands said.

    How many times have you heard or read "Licensed, Bonded, and Insured" but not checked?

    Add your comment.


  4.    Tax Liens and Deeds: Things to Know Before Bidding

    Is it safe to buy liens and deeds from counties? Is it a wise investment? Yes it is. This is the best time to get into the tax lien and deed business. Many of the counties from different states now offer online tax sales which mean you can buy tax liens and deeds without going into the county itself and just from the comfort of your own house. Here are some precautionary steps you need to know to avoid making mistakes and losing your investments.

    You are buying as-is, and you can't really inspect them very easily. Therefore, if you decide to go into this area, be extremely careful.

    Add your comment.


  5.    Tenant has a collection of lawsuits against landlords – Chicago Tribune

    Always do background checks, and also always assume someone might be using a phony name.

    The following is the tip of an iceberg of grief.

    Anja Hertel said her nightmare began with the stench of rotting food, and the growing horror that the stranger who lived upstairs was not going to leave without a fight.

    Add your comment.


  6.    3 Tips for Implementing Business Intelligence into Your Multi Family Asset Lifecycle

    A recent article published by MultiFamily Executive provides seven steps for those looking to implement technology for business intelligence (BI). I'd like to expand upon Rick Haughey's list with a few helpful tips we've found while helping multifamily owners and operators take control of their business intelligence data.

    Add your comment.


  7.    Sinkhole in Oxnard disrupts traffic – Ventura County Star

    A 20-by-10-foot sinkhole formed Sunday morning at the intersection of Ventura Road and Hemlock Street in Oxnard, police said.

    One responder at the scene said rain was most likely the cause.

    Add your comment.


  8.    Toms River fire destroys one Sandy-damaged home, ignites another | The Asbury Park Press NJ | app.com

    Joseph and Ruth Albanese said they narrowly escaped death when a fire destroyed their neighbor's Bayview Drive house early Sunday morning and ignited their two-story home.

    "We came so close again to dying," Ruth Albanese said. "It's just too much. I've been through this too many times."

    Prior to Sandy, Hurricane Irene destroyed their home's bulkhead, she said.

    Add your comment.


  9.    House passes flood insurance bill

    The House voted overwhelmingly Tuesday to approve bipartisan legislation that would block dramatic increases in premiums paid by some property owners covered under the federal flood insurance program.

    The 306-91 vote follows a Senate vote on Jan. 30 approving similar legislation. The Senate could vote on the House version by the end of the week.

    Add your comment.


  10.    Register Investigation: Iowa's asbestos inspectors overloaded | The Des Moines Register | desmoinesregister.com

    A contractor's complaint has prompted closer scrutiny of possible asbestos exposure involving workers at a downtown Des Moines renovation project, but an inspector doesn't even visit hundreds of sites across Iowa each year where workers could face risks from the cancer-causing material.

    The routine lack of asbestos-handling inspections at construction sites in Iowa and across the nation represents a widespread failure to protect the public, environmental safety advocates say.

    "It's safe to say that enforcement of asbestos regulations nationwide is abysmal," said Brent Kynoch of the Environmental Information Association, a group based in Maryland focused on health hazards in buildings, specifically asbestos.

    Add your comment.


  11.    Oxford fire codes may get some teeth – Washington Times

    OXFORD, Miss. …

    … infractions and associated fines include, but are not limited to: no street address posted or visible, $50; sprinkler heads blocked, $500; sprinkler or fire alarm inoperable, $200; blocked exit, $500; no illuminated exit sign, $50; and overcrowding, $500.

    Sallis said, if approved, his department is going to make sure all businesses understand the new codes and fines before heading out with a ticket pad.

    Any combination of three or more violations considered serious life safety hazards by the International Fire Code, which the city has adopted, within a 12-month period will resort in a $1,000 fine and possible imprisonment of up to six months. Those include: disabled fire alarm, fire protection system or removal and/or tampering with equipment; overcrowding; locked exit door; fire exit or aisle blocked; fire or exit door inoperative; and blocked means of egress.

    Add your comment.


  12.    NEW ORLEANS: Panel rules spill claims don't need direct harm – Business Wires – MiamiHerald.com

    NEW ORLEANS — A federal appeals panel ruled Monday that businesses don't have to prove that they were directly harmed by BP's 2010 Gulf Of Mexico oil spill to collect settlement payments.

    The ruling could clear the way for payments to resume from a settlement administrator after they were frozen.

    By a 2-1 vote, the 5th U.S. Circuit Court of Appeals in New Orleans upheld a Dec. 24 ruling by U.S. District Judge Carl Barbier in New Orleans. Barbier ruled that BP had agreed to pay claims without requiring strict proof that losses were directly caused by the oil spill, and that the company's arguments didn't allow it to get out of the settlement it agreed to.

    The moral of the story is, don't cause a gigantic leak of oil into the ocean? Well, yes. It's also that you better think about how what you agree to when settling might be interpreted down the road.

    Add your comment.


  13.    Fire officials issue warning about e-cigarette dangers | MailTribune.com

    Electronic cigarettes may be safer for the lungs of smokers than the standard leaf-burning variety, some people believe, but Medford fire officials want people to know they can still cause fires.

    E-cigs have caused minor fires at two Medford homes recently, Medford Fire-Rescue officials said.

    Fire Marshal Greg Kleinberg said the lithium batteries used to power the nicotine vaporizers can explode if they overheat while charging.

    What's your policy on smoking and e-cigs or vaping?

    Add your comment.


  14.    Los Angeles moves to ban e-cigarettes, joining NY, others | Reuters

    The Los Angeles City Council voted on Tuesday to ban the use of electronic cigarettes, also known as "vaping," from restaurants, bars, nightclubs and other public spaces in the nation's second-largest city.

    A spokeswoman for Mayor Eric Garcetti confirmed to Reuters that he would sign the measure into law in the coming days.

    When he does, Los Angeles will join a growing list of cities, including New York, Boston and Chicago, that restrict the use of e-cigarettes, which are battery-powered cartridges filled with liquid nicotine that creates an inhalable vapor when heated.

    "We also have a responsibility to protect our youth and everyone else in public places from the carcinogens found in the ultra-fine particles in e-cigarette aerosol," ….

    Carcinogens.

    Add your comment.


If you are an investor in 1-4 unit properties in Arizona, California, Nevada, Oregon, Utah, or Washington, please do the financially responsible thing and make sure you have proper Landlord Insurance with PropertyPak™. We love focusing on real estate and the economy in general, but we are also here to serve your insurance needs.

Hill & Usher (PropertyPak™ is a division) has many insurance offerings. See our menu above for more info and links.

Did this post help you? Let us know by leaving your comment below.

Note: This blog does not provide legal, financial, or accounting advice. Seek professional counsel.

Furthermore, we, as insurance producers, are prohibited by law from disparaging the insurance industry, carriers, other producers, etc. With that in mind, we provide links without staking out positions that violate the law. We provide them solely from a public-policy standpoint wherein we encourage our industry to be sure our profits, etc., are fair and balanced.

We do not necessarily fact checked the contents of every linked article or page, etc.

If we were to conclude any part or parts of our industry are in violation of fundamental fairness and the legal standards of a state or states, we'd address the issue through proper, legal channels. We trust you understand.

The laws that tie our tongues, so to speak, are designed to keep the public from losing confidence in the industry and the regulatory system overseeing it. Insurance commissioners around the country work very hard to analyze rates and to not allow the industry to be damaged by bad rate-settings and changes in coverages. The proper way for people in the industry to deal with such matters is by adhering to the laws, rules, and regulations of the applicable states and within industry associations where such matters may be discussed in private without giving the industry unnecessary black eyes. Ethics is very high on the list in the insurance industry, and we don't want to lose the people's trust. That said, the industry is not perfect; but what industry is?

For our part, we believe in strong regulations and strong regulators.

We welcome your comments and ask you to keep in mind that we cannot and will not reply in any way or ways where any insurance commissioner could rightly say we've violated the law of the given state.

We are allowed to share rating-bureau data/reports and industry-consultant opinions but make clear here that those opinions are theirs and do not necessarily reflect our position.

Subscribe