News: Real Estate, Risk, Economics. Mar. 30, 2018

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Table of Contents
(Click to sections below.)

1) Trump Appoints Yet Another Deregulator – This Time to the FDIC [which is a really bad thing]

2) You could spend $97,000 on rent before you turn 30—that’s way more than your parents did

3) Fraud News: Arson, Public Adjuster Pockets Over $1M in Insurance Proceeds

4) Lawsuit Advances Over Rotten Beams in Delaware Townhouses

5) New state [CA] map tells you if you live in an earthquake fault zone

6) US subprime mortgage bonds back in fashion

7) Some Tornado Victims in Pennsylvania Struggle with Uninhabitable Homes

  1.    Trump Appoints Yet Another Deregulator – This Time to the FDIC [which is a really bad thing]

    Okay, libertarian-capitalists (anarchists), with the possible exception of those who earnestly hate cronyism, will hate this video, but that’s too bad. Bill Black is absolutely correct.

    Jelena McWilliams will be the new FDIC director and this will mean a “slaughter” of the remaining banking regulations, which will already be significantly weakened via a new law to be passed soon by Congress, says former financial regulator Bill Black.

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  2.    You could spend $97,000 on rent before you turn 30—that’s way more than your parents did

    … millennials still must put the largest share of their income toward rent. An estimated 45 percent of their pay goes to keeping a roof over their heads, making them significantly “cost burdened.”

    Gen Xers, by contrast, spent 41 percent of their income on rent before turning 30, while boomers spent a more reasonable 36 percent.

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  3.    Fraud News: Arson, Public Adjuster Pockets Over $1M in Insurance Proceeds

    Add your comment. Including the article/link number will help.


  4.    Lawsuit Advances Over Rotten Beams in Delaware Townhouses

    We’ll have to watch how this one unfolds.

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  5.    New state [CA] map tells you if you live in an earthquake fault zone

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  6.    US subprime mortgage bonds back in fashion

    Last year saw issuance of $4.1bn of securities backed by loans that would have been called “subprime” before the last financial crisis, according to figures from Inside Mortgage Finance, with the pace picking up in the latter half of the year. The momentum has continued into 2018, with deals worth $1.3bn in the first quarter — twice the $666m issued in the same period a year earlier.

    Do you understand what’s going on here? The idea is for traders to get money in hand and let the system worry when the whole thing falls apart again. The 5% “skin in the game” is nothing if they can live high off the hog while the getting is good and if they can deregulate more and more (which they’re doing) and if they can then fall back on “too big to fail” nonsense. They’ll take the money and put it where clawing it back will be really, really difficult, especially if the deregulators are still in charge when everything falls apart.

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  7.    Some Tornado Victims in Pennsylvania Struggle with Uninhabitable Homes

    … the tornado has exacerbated the problem of landlords not repairing homes in need of structural upgrades, especially in the city.

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