Business, real estate

New Trouble for Banks

 

Insight: A new wave of U.S. mortgage trouble threatens

BY PETER RUDEGEAIR

Tue Nov 26, 2013

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Houses under construction are seen in Fontana in San Bernardino County, California, in this February 5, 2009 file photograph. REUTERS/Mario Anzuoni/Files

Houses under construction are seen in Fontana in San Bernardino County, California, in this February 5, 2009 file photograph.

CREDIT: REUTERS/MARIO ANZUONI/FILES

http://www.reuters.com/article/2013/11/26/us-usa-mortgages-homeequity-insight-idUSBRE9AP05J20131126

(Reuters) – U.S. borrowers are increasingly missing payments on home equity lines of credit they took out during the housing bubble, a trend that could deal another blow to the country’s biggest banks.

The loans are a problem now because an increasing number are hitting their 10-year anniversary, at which point borrowers usually must start paying down the principal on the loans as well as the interest they had been paying all along.

More than $221 billion of these loans at the largest banks will hit this mark over the next four years, about 40 percent of the home equity lines of credit now outstanding.

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apartment, Business, real estate

China’s real estate bubble

 

China’s real estate bubble

China’s economy has become the second largest in the world, but its rapid growth may have created the largest housing bubble in history.

The following script is from “China’s Real Estate Bubble” which aired on March 3, 2013, and was rebroadcast on Aug. 11, 2013. Lesley Stahl is the correspondent. Shachar Bar-On, producer.

If trouble comes in threes, then what’ll be the next global market to melt down after the U.S. and Europe? Some are looking nervously at China.

 

China has been nothing short of a financial miracle. In just 30 years, this state-controlled economy became the world’s second largest, deftly managed by government policies and decrees.

 

One sector the authorities concentrated on was real estate and construction. But, as we first reported in March, that may have created the largest housing bubble in human history. If you go to China, it’s easy to see why there’s all the talk of a bubble. We discovered that the most populated nation on Earth is building houses, districts and cities with no one in them.

 

Lesley Stahl: So this is Zhengzhou. And we are on the major highway, or the major road. And it’s rush hour.

Continue reading and watch video:

http://www.cbsnews.com/news/chinas-real-estate-bubble-11-08-2013/

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Business, landlord, real estate

The problem with doorknobs

Vancouver Bans … Doorknobs?

LEVERS MAKE LIFE EASIER FOR THE ELDERLY, DISABLED

By Rob Quinn,  Newser Staff
Posted Nov 20, 2013 12:24 AM CST | Updated Nov 20, 2013 2:33 AM

(NEWSER) – Vancouver is taking the lead in getting rid of something that many people didn’t realize was problematic: the lowly doorknob. The city has already replaced knobs with levers—which are much easier for elderly or people with disabilities to operate—in public buildings, and the city’s building code will require all new housing to be built with door levers starting in March, reports the Vancouver Sun, which notes that changes made in the city often spread to building codes across the country. Water faucets will have to take the shape of levers, not knobs, as well.

The move is based on the concept of “universal design,” which aims to make spaces usable for as many people as possible, a University of British Columbia professor explains. “A really simple version is the cut curbs on every corner,” he says. “That helps elderly people, people with visual impairments, moms with strollers. It makes a sidewalk that could otherwise be difficult for parts of the population universally accessible.” But doorknobs aren’t going to completely die out, predicts the president of the Antique Door Knob Collectors of America. He says it seems like “overreach” to require private homes to be built with levers instead of knobs, although homeowners are free to replace levers with knobs if they choose. (Click to read about another unusual housing ban.)

http://www.newser.com/story/177865/vancouver-bans-doorknobs.html

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apartment, Business, landlord, property management, real estate

SHOULD WE ALLOW PETS?

DID YOU KNOW...

Did you know that, per the American Veterinary Medical Association, 63% of all households in America have a pet?  According to the Humane Society, 49.4% of all renters have pets and 20% of those with pets have the pets without the landlord’s knowledge and consent. Image

Allowing pets on a case-by-case basis not only doubles the potential tenant base, it also gives the owner more control over which pet(s) will occupy the property.

For these reasons, we encourage our clients to allow pets on a case-by-case basis with an additional refundable pet deposit based on the property and the details about the animal, such as breed, size, age, and number of the animal(s).

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