News: Real Estate, Risk, Economics. Feb. 19, 2016

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Table of Contents
(Click to sections below.)

1) Capitalism: Competition, Conflict, Crisis – YouTube

2) Long road to recovery after devastating California wildfire

3) The Gang's All Here (1941) MANTAN MORELAND – YouTube

4) Los Angeles sues developer of torched apartment for $20 million | Reuters

5) Cameron hails EU deal to give Britain 'special status', battle looms | Reuters

6) Hoverboard fires are no joke: Two kids almost died as their house burned down – The Washington Post

7) FHFA Director Watt: This is the most serious risk facing Fannie Mae and Freddie Mac | HousingWire

8) Mother-son team accused in $30K real estate scheme | NJcom

9) Clay County officials cracking down on abandoned properties | Firstcoastnewscom

  1.    Capitalism: Competition, Conflict, Crisis – YouTube

    Debunking theoretical assumptions:

    Professor Anwar Shaikh, an economics professor at the Graduate Faculty of the New School for Social Research

    Add your comment.


  2.    Long road to recovery after devastating California wildfire

    "I feel like we survived the fire, but we can't survive the landlord," she said.

    Add your comment.


  3.    The Gang's All Here (1941) MANTAN MORELAND – YouTube

    Insurance fraud, B-grade movie style; also, obviously pre-Civil Rights Movement era:

    Add your comment.


  4.    Los Angeles sues developer of torched apartment for $20 million | Reuters

    Feuer said developers failed to devise adequate fire protection plan, did not properly install fire walls or doors in the structure, lacked sufficient water supplies to fight a fire, and lacked appropriate security measures to stop someone from gaining unauthorized access.

    Add your comment.


  5.    Cameron hails EU deal to give Britain 'special status', battle looms | Reuters

    What's the point of being part of a union that isn't?

    Add your comment.


  6.    Hoverboard fires are no joke: Two kids almost died as their house burned down – The Washington Post

    "I would like people to realize, you can think it won't happen to you, maybe you'll be lucky and it won't, but it can," Megan Fox said.

    Now they're trying to make an inventory of their home, to detail for their insurance company all that was lost. But they won't be replacing the hoverboard.

    I've been covering these hoverboard fires on this blog and recommending that landlords and managers ban them from their properties ASAP! Obviously, I'm ramping up the volume.

    Add your comment.


  7.    FHFA Director Watt: This is the most serious risk facing Fannie Mae and Freddie Mac | HousingWire

    One big issue that Watt identified is the GSEs lack of capital.

    "The most serious risk and the one that has the most potential for escalating in the future is the Enterprises' lack of capital," Watt said, according to his prepared remarks.

    Under the Preferred Stock Purchase Agreements that went into effect when the government took the GSEs into conservatorship, Fannie and Freddie send dividends to the Department of the Treasury each quarter that they are profitable.

    Freddie Mac, for example, will send $1.7 billion to the Treasury, based on its fourth quarter 2015 results.

    But under the PSPAs, the GSEs are prohibited from rebuilding capital and each of the GSEs capital base is required to be reduced, with their capital reserves scheduled to be drawn down to $0 in 2018.

    Privatizers would yell loudly if the GSE's needed money. They'd conveniently forget to mention all the money the GSE's have sent to the government.

    Add your comment.


  8.    Mother-son team accused in $30K real estate scheme | NJ.com

    Authorities are seeking additional victims of an alleged real estate scheme in which a mother and son pretended to be real estate agents in order to rent or sell foreclosed properties throughout South Jersey.

    Add your comment.


  9.    Clay County officials cracking down on abandoned properties | Firstcoastnews.com

    We've all seen them while driving through neighborhoods, vacant homes and abandoned properties.

    Besides being an eyesore, abandoned homes can pose serious hazards. Dilapidated properties could cause a safety risk or even lead to squatters moving in and taking over a home left unattended. In Clay County officials are working to get a handle on the problem.

    Add your comment.


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