Linking ≠ endorsement.
⇧ Australian Wildfires Raze 95 Homes in Single Township – ABC News
The township of Yarloop, 125 kilometers (80 miles) southwest of Perth, lost 95 homes — about one third of its dwellings — as the fire front hit on Thursday ….
⇧ China Stocks Gain in Volatile Trade as Circuit Breaker Scrapped – Bloomberg Business
“They are changing the rules all the time now,” ….
They’re winging it.
The confidence fairy doesn’t apply here. Real confidence is going to wane more and more if the Chinese leadership doesn’t stop monkeying around. To get out of the mess they’ve created, they need to announce real democracy and stick with it.
⇧ Watch for these legal issues in Nashville’s sizzling commericial real estate market – Nashville Business Journal
Many contracts now include a window of just 30 to 45 days to complete due diligence processes, even on larger and more complex properties. That’s not much time to do a financial analysis; check environmental conditions; investigate soils conditions, structure and utilities; obtain zoning and permitting; confirm financing; and make a well-informed decision on the investment.
This is when the right network makes a difference. When you have the right team of excellent real estate lawyers, engineers, surveyors, accountants and other qualified advisors the due diligence processes can be facilitated by connecting you with the right people at the right agencies and avoid time spent running into roadblocks.
⇧ JPMorgan: China Is Poised To Solve Its Real Estate Inventory Problem – Bloomberg Business
“With the government’s intention to encourage ‘human-oriented’ urbanization through hukou reform, more rural residents will move to cities with better access to social security,” predicted Li.
If the Chinese government is able to realize its urbanization goal, Li calculates that the demand for homes would increase by 3.5 to 4.5 million per year through 2020—growth of 33 percent relative to 2015.
… the lingering effects of China’s one-child policy and aging population suggest that any rebalancing and inventory reductions may not endure for too long.
I wonder about the quality of the construction that went into the “ghost cities” and just how much damage has been, and continues to be, done by the lack of maintenance on the empty buildings.
⇧ Ping An Real Estate | Chinese Real Estate Investors NYC
“The purpose is to consolidate the decision-making and process of deal flow to a local basis, so that Ping An can be much more active in investing in the U.S.,” Singer said of the PARE U.S., which aims to differentiate itself from other Chinese forays into the U.S. real estate market through the “benefit of local expertise.”
⇧ Average date of the first measurable snow in the lower 48
Here’s the article where I ran into the image: https://www.weather.com/forecast/regiona l/news/eastern-storm-rain-snow-late-meas urable-snow
This maps shows the average date of the first measurable snow across the country.
⇧ UK Boxing Day Floods: ALERT™ :: Event Summary
… the Met Office declared December 2015 as the wettest month on record (dating back to 1910).
⇧ Gradual failure: The questionable logic behind the Fed’s premature rate rise | The Economist
The typical American worker is in effect a price-taker; workers of modest skill levels have very little bargaining power in comparison with their peers a generation ago. Unsurprisingly, wage growth has been remarkably subdued during the last three recoveries, despite very low unemployment rates. Were workers nonetheless able to secure faster wage increases, firms have many ways to reduce reliance on less-skilled labour. Were firms nonetheless forced by high wages to begin raising prices, those higher prices would not feed automatically into wage increases.
The superrich made sure that the middle and lower classes lost power so that the superrich could become even richer relative to those other classes.
It happened because the superrich bought the government by buying the politicians via all sorts of means, such as campaign contributions, the revolving door, deals and favors within the politicians’ networks, and more.
The superrich turn the US into more of a plutocracy than it already was. They nullified democracy.
The range of debate and the news coverage concerning it is throttled by the corporations controlled by the plutocrats. It is not good risk-management. It’s why the Great Recession even occurred. It would not have happened if politicians hadn’t sold themselves to the highest bidders.
⇧ THE EMPLOYMENT SITUATION — DECEMBER 2015
Total nonfarm payroll employment rose by 292,000 in December, and the unemployment rate was unchanged at 5.0 percent. Employment gains were led by professional and business services, construction, health care, and food services and drinking places. Mining employment continued to decline.
In December, 1.8 million persons were marginally attached to the labor force, down by 427,000 from a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. (See table A-16.)
Among the marginally attached, there were 663,000 discouraged workers in December, little changed from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. …
Construction showed strong job growth for the third consecutive month, gaining 45,000 jobs in December. Job gains occurred among specialty trade contractors (+29,000) and in construction of buildings (+10,000). Over the year, construction added 263,000 jobs, compared with a gain of 338,000 jobs in 2014.
I wonder how that jibes, or will, with what we reported earlier: “U.S. construction spending posts first decline in nearly 1-1/2 years | Reuters” https://propertypak.com/2016/01/06/news- real-estate-risk-economics-jan-6-2016/#0 106163
Let’s hope the Fed’s rate rise doesn’t crush what little recovery we have. Let’s hope they don’t ruin the middle and lower classes’ chances to increase their power, standard of living, and quality of life.
⇧ Poisoned Democracy: How an Unelected Official Contaminated Flint’s Water to Save Money | Democracy Now!
Putting money before the general welfare and health of the citizenry is not a good idea. It isn’t even a cost savings in the long run. Doing it right in the first place is the smarter, more ethical, and more cost-effective way.
Detroit had added phosphates to the water, which creates a biofilm that kind of coats the pipes and keeps lead particles adhered to the pipes rather than letting it leach into the water. The Flint River is many times more corrosive than Detroit. So they switched to a water source that was much, much more corrosive, and when corrosion control was more needed than ever, they inexplicably stopped using it, compounding the problem. And that corrosive water, without corrosion control in it, just began tearing apart the pipes.
The corrosivity of the new, cheap water source caused the release of lead in the water system, including piping in homes and other buildings.