Linking ≠ endorsement. Enjoy and share:
↑ In the Bay Area’s Shadow, Santa Rosa/Petaluma’s Apartments Post Big Gains – YouTube
A smaller coastal market just north of San Francisco, Santa Rosa/Petaluma quietly emerged as the top-performing apartment market of 2013. Santa Rosa/Petaluma led the nation’s core 100 metros with rent growth north of 10%, while ranking #2 for overall occupancy.
↑ Obama signs flood insurance bill | TheHill
President Obama on Friday signed a bill that rolls back flood insurance rate increases on coastal properties called for in a 2012 reform of the trouble National Flood Insurance Program (NFIP).
Conservatives say the bill put taxpayers on the hook for unfairly subsidized insurance rates and slows progress toward privatization of NFIP.
… Alyeska has 108 skimmers, 49 miles (80 kilometers) of boom and on-water storage capacity of almost 38 million gallons. North Slope oil must be transported in double-hull tankers, which must be escorted by two tugs. Radar monitors the vessel’s position as well as that of icebergs.
The company conducts two major spill drills are conducted each year. And nearly 400 local fishing boat owners are trained to deploy and maintain boom.
Let’s hope it’s enough.
↑ Climate change fuelled storms, rising seas cost China $2.6 billion in 2013 | Reuters
Climate change fuelled storm waves and rising sea levels cost China 16.3 billion yuan and killed 121 people in 2013, the State Oceanic Administration (SOA) said.
↑ How to Succeed in Multifamily Investing (BiggerPockets Podcast 61) – YouTube
This show is loooong but useful. Be prepared for heavy sarcasm and a sense of humor not for the thin-skinned. Here’s the show’s description.
BP Podcast 061: How to Succeed in Multifamily Investing — A Unique Conversation with Josh, Brandon, and Ben
See the show notes here:
Change is good, right?
We hope so — because in this episode of the BiggerPockets Podcast, we change a lot of things up and invite you to come sit in the BiggerPockets digital coffee shop and listen in on a fascinating discussion! For the first time, we bring back a previous guest on the BiggerPockets Podcast to move beyond “their story” and dig into the dirty details on a very popular and important topic: multifamily rental properties.
Today Ben Leybovich, who shared with us his powerful journey almost a year ago on episode 14 of the BiggerPockets Podcast, is going to talk with us about what it takes to succeed as a multifamily investor — looking beyond the numbers and truly investing in the right kind of properties.
As I said- this show is a little different. Rather than just an interview, we decided to make this episode more of a “conversation” between Ben, Josh, and myself — discussing (and often loudly debating) everything from “what kind of properties to buy,” “what kind of location someone should buy in,” and a long debate on one of Brandon’s most recent purchase- the ugly purple triplex.
Although this is our longest show, at almost two hours in length, I think this is one of the most powerful podcasts we have ever done because it’s totally unfiltered, deep, and raw. Come be a fly on the wall in our “digital coffee shop” and discover everything you ever wanted to know about investing in multifamily rental properties.
Yes, we actually watched the whole thing.
↑ Architecture & Construction Update from AIA – YouTube
Kermit Baker, AIA chief economist shares the current architectural billing levels and projected construction growth including which sectors will be most active in 2014 and 2015. Baker also shares expectations for construction costs moving forward.
↑ Urbanization and Real Estate – Greg Clark, Cities Research – YouTube
Pretty slick and intriguing:
Greg Clark, Chairman of the Cities Research Center [JLL] talks about urbanization and real estate
↑ Abenomics—Time for a Push from Higher Wages | iMFdirect – The IMF Blog
Japan’s economic progress over the past year has been impressive, with strong growth, and inflation, investment, and credit growth all heading in the right direction. But that progress is largely the result of last year’s sizable fiscal and monetary stimulus—the first two arrows of “Abenomics”. Now, the economy needs to transition to more sustainable, private-sector led growth. A hike in wages could be just the push needed to propel that shift.
As the ongoing annual wage-bargaining round draws to a close, total earnings are set to increase this year for employees at some well-known car manufacturers. But, in the past, these increases have not trickled down to higher basic wages at small and medium-sized enterprises and to non-regular workers. This is problematic as higher inflation without higher incomes can hardly be characterized as a successful reform.
The argument for higher wages …
↑ Bank of England’s trust in banks badly mistaken, says former official | Reuters
The Bank of England needs to abandon a culture of cosy chats and too much trust in banks following the latest financial scandal to hit London, former policymaker Adam Posen said on Friday.
BoE Governor Mark Carney unveiled a major shake-up of its management on Tuesday, in part to tackle complaints from lawmakers that the central bank had been too slow to spot signs of financial misconduct in the past.
Posen, who served on the central bank’s Monetary Policy Committee from 2009 to 2012, said BoE staff had had too much confidence that banks would regulate themselves and would root out bad behaviour by their own traders.
“What is really most important is to see the Bank of England get away from being so trusting of the banks.
↑ Pettis on why the yuan is falling | | MacroBusiness
… perhaps the strongest argument for the PBoC is the capital flight argument. I suspect the only thing keeping net inflows into China so positive is the carry trade, in which higher relative interest rates and the expectation of continued appreciation causes Chinese companies to bring (often illegally) large amounts of money into the system (of course at the expense of the PBoC, who must carry the other side of the trade).
All this inflow isn’t a good thing, of course, but once you kill the carry trade, the risk is for an enormous outflow of capital that could devastate the banking system.
↑ As Economy Improves, e-Commerce Soars, Storefronts Close | Retail content from National Real Estate Investor
… “For a lot of retailers over the next 10 to 20 years, their needs for space will shrink by 40 percent to 50 percent. That’s going to reshape retail in its entirety.”
“This past holiday season clearly demonstrated that the Internet business is going to continue to grow at a huge rate,” says Andy Graiser, co-president of A&G Realty Partners in Melville, N.Y. Graiser says his firm has noticed that boards of retailers and private-equity firms have been paying more and more attention to the real estate at their companies’ disposal.
“Real estate has never been front and center,” he says. “Now it’s really taking a front seat at the board level.”
↑ Deutsche Bank fails to end four U.S. lawsuits over soured mortgages – Yahoo Finance
Deutsche Bank AG has failed to win the dismissal of four U.S. lawsuits seeking to force it to pay damages or buy back troubled home loans it had packaged into residential mortgage-backed securities prior to the 2008 financial crisis.
The body of a fourth person has been found in the fire debris of the Mariner’s Cove Motor Inn in Point Pleasant Beach, N.J.
The Ocean County Prosecutor’s Office says the body was found late this afternoon and that at this point they believe all remaining occupants are accounted for. All four fatalities were adult males. No positive identifications have been made, and officials have not yet notified next of kin.