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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 clichΓ©. “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 social system of indi…

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

25 to 34 yrs of age63% Female/37% Men4yr Degree+ avg30% make 100k+ which is average48% made 50k min AVERAGE RENTER DEMOGRAPHICS
54% Female/46% Male42 yrs average age58% Single/37% Married30% Bachelor's Degree or higher54% Caucasian61% Single Moms (31% Single with Kids/30% No Kids)$30k Income AvgHave major Student Loan Debt50% Have no Debt26% Credit Card Debt6% Own RE now/26% previously owned/68% have never ownedOf Renters 2Bd/1.5Ba is average51% live in Apts27% SFR15% OtherReasons to Rent30% Reasonable Rate22% Neighborhood10% AmenitiesLeast Important is SchoolsAvg Tenure 5+yrs38% of Renters will pay $1,00032% of Renters will pay $1500Avg Rate Increase is 3%52% Expect to Buy a Homeof the 52%, 56% of said they would use a Realtor to buy a homeof the 56%, 47% will look Online first22% will contact a Realtor 1st (this number is diminishing annually)15…

2013 Fresno Housing Market Symposium - 10/4/13

2013 Fresno Housing Symposium|SYNOPSIS
Gazarian Real Estate Center, CSUF, Fresno, CA /October 4, 2013
Agenda topic Housing Market Conditions – Views from the Top
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 & 1st 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 term funding needed for planning demographics of 30 and younger which is Fresno’s average age at this time.Housing needs are for m…