News: Real Estate, Risk, Economics. May 10-12, 2014

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Table of Contents
(Click to sections below.)

1) Breathing world's dirtiest air, Delhi needs to clean up its act now | Firstpost

2) Southwest is in trouble, thanks to climate change – Yuma Sun: Opinion

3) WOW! Video: Inside Tupelo, Mississippi Tornado of April 28, 2014 | PropertyPak

4) U.S. considers fracking fluid disclosure rules | Reuters

5) 4 things that might choke Orlando's real estate recovery – Orlando Business Journal

6) 10 States With Slowing Home Prices

7) Feds: Philly real estate agent stole $1M from clients

8) Austin real estate professionals speak out on land code reform proposals – Austin Business Journal

9) This Week In Strange, Weird & Terrible Seattle Real Estate Listing Photos – Listing Photo Fails – Curbed Seattle

10) Draghi must tackle threat of deflation – FT com

11) Why Obama's top economist is skeptical about Piketty – CBS News

12) SEATTLE: Mother, daughter die, 3 rescued in Washington fire | National | The News Tribune

13) Cops: Florida woman hates neighbors, razes their trailer | Northwestern Media | thenorthwestern com

14) Have Pride In Your Low Income Rentals – YouTube

15) Apartment Construction Spree Cools Off Rent Growth in Chicago – Apartment Market Dynamics – YouTube

  1.    Breathing world's dirtiest air, Delhi needs to clean up its act now | Firstpost

    With the WHO's latest report on air pollution, Delhi stands exposed, dirty and ashamed. As a city, it has the worst air in the world. Keeping Delhi company are 13 other Indian cities out of the 20 worst air-polluted places in the world.

    Add your comment.


  2.    Southwest is in trouble, thanks to climate change – Yuma Sun: Opinion

    "Summers are longer and hotter, and extended periods of unusual heat last longer than any living American has ever experienced. Winters are generally shorter and warmer. Rain comes in heavier downpours. People are seeing changes in the length and severity of seasonal allergies, the plant varieties that thrive in their gardens, and the kinds of birds they see in any particular month in their neighborhoods," the report states.

    But what does that mean for us in the Southwest? According to the report, we can expect more wildfires, scarcer water supplies, a decrease in agriculture, and threats to public health due to temperature increases.

    Add your comment.


  3.    WOW! Video: Inside Tupelo, Mississippi Tornado of April 28, 2014 | PropertyPak

    "Standard YouTube License"

    Video description on YouTube:

    Footage from security camera in back of church overlooking playground. Camera mounted on a steel beam under the 3 foot over-hang of the church.

    We wonder why it switched from color to black and white and back to color again.

    Add your comment.


  4.    U.S. considers fracking fluid disclosure rules | Reuters

    The U.S. Environmental Protection Agency said it wants to gather public comment on whether it should require chemical manufacturers to disclose the content of fluids used for oil and gas production, a possible step toward greater federal oversight of hydraulic fracturing, or fracking.

    We think transparency in this issue is critical to groundwater safety.

    Add your comment.


  5.    4 things that might choke Orlando's real estate recovery – Orlando Business Journal

    Good advice:

    Seneff [James Seneff Jr., executive chairman of CNL Financial Group Inc.] focused on ways companies can grow their businesses even during down times by looking at the long-term ramifications of their actions — rather than using the short-sighted method of jumping on hot real estate trends and then falling during the down part of that cycle.

    Add your comment.


  6.    10 States With Slowing Home Prices

    In March, home prices across the nation jumped 11.1 percent from a year earlier, representing the 25th consecutive month of year-over-year price gains, according to the latest report from CoreLogic. However, that was down significantly from the 11.8 percent pace seen in February. The slowdown between February and March was the largest decline in annual growth in three years.

    "Home prices continue to rise across the nation, but affordability, tight credit, and supply concerns are becoming an increasing drag on purchase market activity," said Anand Nallathambi, Corelogic's CEO and president.

    Add your comment.


  7.    Feds: Philly real estate agent stole $1M from clients

    A Philadelphia real estate agent is accused of stealing more than $1 million in rent, tax and bill payments that were supposed to be passed along to his clients.

    Federal authorities on Friday charged Joseph N. Reilly, 69, with one count of mail fraud. Prosecutors said Reilly acted as property manager for clients of his company, Joseph N. Reilly Real Estate.

    Add your comment.


  8.    Austin real estate professionals speak out on land code reform proposals – Austin Business Journal

    How big a process is it to rewrite Austin land development codes that date back to the 1950s? A very big one, it would seem, fraught with the potential of political intrigue.

    That's where the city of Austin finds itself today.

    Add your comment.


  9.    This Week In Strange, Weird & Terrible Seattle Real Estate Listing Photos – Listing Photo Fails – Curbed Seattle

    … let's take a look around the Seattle real estate listings to find some examples of the strange, the weird and just the plain terrible.

    Add your comment.


  10.    Draghi must tackle threat of deflation – FT.com

    Two and a half years into his term of office, Mr Draghi faces a new worry — one that words alone might not be enough to resolve. The ECB is under growing pressure to ease monetary policy in order to avert the possibility of the eurozone falling into outright deflation.

    … At its next meeting the ECB should cut its benchmark main refinancing rate from the current record low of 0.25 per cent towards zero. More significantly, it should cut the rate it pays on deposits to below zero — in effect imposing a tax on lenders. By doing this it would charge banks for leaving funds at the ECB — a first for any leading central bank.

    We've been pushing for that for years. It needs to be done under the requirement that the banks not pass the costs on if they fail to "move" the money.

    Add your comment.


  11.    Why Obama's top economist is skeptical about Piketty – CBS News

    '… when growth rates fall, the ratio of capital to income rises, and the increased prevalence of capital drives down the rate of return on capital," Furman [Jason Furman, chairman of the Council of Economic Advisers] noted.

    However, the super-rich make up more than the difference over the long run via their increasing share of the whole economic pie.

    Of course, eventually there are diminishing returns compared to how returns could be were the boats of the lower and middle class to rise at least as much as those of the super-rich.

    People have to make enough to even be customers of the super-rich.

    Henry Ford made that perfectly clear when he paid all of his workers more than enough that they could all afford new Ford cars.

    Add your comment.


  12.    SEATTLE: Mother, daughter die, 3 rescued in Washington fire | National | The News Tribune

    A mother and her adult daughter died early Friday in a raging house fire in Washington state, while fast-acting neighbors helped rescue three others, witnesses and authorities said.

    Add your comment.


  13.    Cops: Florida woman hates neighbors, razes their trailer | Northwestern Media | thenorthwestern.com

    A Florida woman didn't like the people living next door — so she had their mobile home demolished, St. Augustine authorities said.

    Add your comment.


  14.    Have Pride In Your Low Income Rentals – YouTube

    This is part 1 of the series, "I'm not going to live there so I'm not going to pay for ______" As new investors, and especially in low income neighborhoods, there is a mindset that some people suffer from. It's the "Im not going to live here" mindset. There can be times when it comes to spending money on a renovation where this is a perfectly valid mindset, but many times it can lead new investors to giving a subpar renovation, thus attracting subpar tenants.

    Part 1 of the series focuses on giving it your all, even if you're not going to spend a lot on that lower end rental property, to get the results you want in tenant quality. My advice is regardless of what neighborhood, don't let this mindset enter into your thoughts: instead, always think of tenant experience, and maintaining the longevity of your asset.

    Add your comment.


  15.    Apartment Construction Spree Cools Off Rent Growth in Chicago – Apartment Market Dynamics – YouTube

    The big wave of new apartment development seen in many urban core submarkets nationally has had more of a cooling effect on apartment revenues in Chicago than it has in many other large markets. In particular, rent growth has disappeared altogether inside the downtown submarkets … while growth remains consistently mediocre in the suburbs.

    Add your comment.


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