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Showing posts from 2013

Is Wall Street Really the Heart of Capitalism?

Is Wall Street Really the Heart of Capitalism? Blaming the wrong people for 2008 SEPTEMBER 24, 2013 by DOUGLAS FRENCH The other night I tuned into The Flaw , a 2011 documentary about the 2008 financial crash. While telling the crash story, the movie flashes in and out of a street tour offered by an ex-mortgage bond trader. The young man has the required effervescence to keep a dozen tourists entertained while they look at nothing more interesting than office buildings. He cleverly lets members of his tour touch a toxic asset. Well, a page of the legal document of a collateralized debt obligation (CDO), anyway. The camera pans to tourists taking pictures next to “ Charging Bull ,” the 7,100 lb. bronze sculpture closely associated with Wall Street. The guide starts his tour saying what has become a worn out cliché. “Welcome to Wall Street; this is the heart of American capitalism.”     But is Wall Street really the heart of capitalism? If we understand capitalism as a so

California's Future Home Buyers - Converting Renters into Buyers

1675 Surveys taken in California, stats gathered from 23% Northern Coastal California and 77% Southern California AVG BUYER DEMOGRAPHICS 25 to 34 yrs of age 63% Female/37% Men 4yr Degree+ avg 30% make 100k+ which is average 48% made 50k min AVERAGE RENTER DEMOGRAPHICS 54% Female/46% Male 42 yrs average age 58% Single/37% Married 30% Bachelor's Degree or higher 54% Caucasian 61% Single Moms (31% Single with Kids/30% No Kids) $30k Income Avg Have major Student Loan Debt 50% Have no Debt 26% Credit Card Debt 6% Own RE now/26% previously owned/68% have never owned Of Renters 2Bd/1.5Ba is average 51% live in Apts 27% SFR 15% Other Reasons to Rent 30% Reasonable Rate 22% Neighborhood 10% Amenities Least Important is Schools Avg Tenure 5+yrs 38% of Renters will pay $1,000 32% of Renters will pay $1500 Avg Rate Increase is 3% 52% Expect to Buy a Home of the 52%, 56% of said they would use a Realtor to buy a home of the 56%, 47% will look O

2013 Fresno Housing Market Symposium - 10/4/13

2013 Fresno Housing Symposium |SYNOPSIS Gazarian Real Estate Center, CSUF, Fresno, CA /October 4, 2013 SERIES/topic Agenda topic Housing Market Conditions – Views from the Top Discussion/Conclusion: 1.        Jennifer Clark, Development & Resource Management Director – City of Fresno: a.        1945 – 2000 Fresno has had exponential growth b.       1970s to 1990s we had top growth in the Country c.        10 yr permit history – COF has largest # of vacancies – 10,000+ vacant, unoccupied & depresses city values d.       COF must use money to maintain e.        Permits pulled in Dec typically 1400 – 1500 housing start average; this year we’ve exceeded #s f.         Seeing return of the Move Up & 1 st Time Home Buyers g.       Expectations for greater demands for SF Housing, smaller neighborhoods, connectivity to schools, parks and multi-generational living needed for mixture of housing types h.       Challenges are with Long