In 2017, the ongoing apartment building-boom in the US will set a new record: 346,000 new rental apartments in buildings with 50+ units are expected to hit the market,” three times the number of units that came on line in 2011.
All in Economics
Will the SEC break the Cryptocurrency Perpetual-Motion Machine?
Currency developers are working faster than Hayek ever imagined.
Neighborhood Groups Defend Their Own Walls
That’s always the argument, allow a builder to try and satisfy demand and it’s considered “a great gift.” Development entails risk. How soon people forget the video of homes in a new subdivision in Victorville, California being bulldozed.
Bitcoin Showdown
There is no Janet Yellen in the crypto-world to arbitrate this sort of monetary brouhaha. Decentralization is the silky petals of the crypto flower, but this battle between the miners and what is known as Core, a group of developers is thorny and no one knows how it will come out.
Risky Banking Turns Japanese
The problem is Japanese customers do not deposit dollars, so to buy dollar-denominated assets Japanese banks must borrow in dollars typically on a short-term basis.
Thus, the perils facing all bankers -- borrowing short to lend long.
Joined at the Hip: Trump and the DJIA
When the mood changes the President’s fortunes will change with the market’s.
Sessions' Pot War is Up in Smoke in Nevada
Judging from the lines out the doors at dispensaries in just my neighborhood, I don’t doubt his projection. Even with it being a scorching 107 degrees this afternoon, Las Vegans were waiting patiently in the sun to go up in smoke.
Is Clooney Selling at the Top?
While Clooney and Co. cash in, Salon reports, “The legal weed market appears to be impacting booze’s bottom line.” Significant numbers of Millennials, Gen-Xers and Baby Boomers are switching from liquor to weed as it becomes legal.
Yellen Says No More Financial Panics in Her Lifetime
Yellen follows in the footsteps of two great Fed Chair prognosticators.
Testosterone, the Austrian Business Cycle, and the Madness of Central Bankers
Are memories too short? Or testosterone too high?
Bubbles in Bond Land
The country’s Ministry of Finance figured their dodgy credit history would translate into offering an 8.25% yield, but demand was so strong the bonds sold at a 7.9% coupon. Memories are short
America's Troubles: The Boomers or Democracy?
"There is something wrong with the Boomers and there has been for a long time,” writes Gibney in the forward to A Generation of Sociopaths: How the Baby Boomers Betrayed America and the author’s beatings continue for 400 plus pages.
Bitcoin Mania Bypasses Las Vegas
"HowMuch.net on Wednesday put things into perspective and demonstrated that for all the buzz and excitement bitcoin has generated, it still has a long way to go to be even remotely relevant.
Richard Cantillon: Sleepless in Seattle
“there are currently 13 high-rise apartment or condo buildings of at least 24 stories in development or planning in the downtown area. The average is 39 stories. Another 24 high-rises are in the proposal pipeline, according to city and industry reports,”
Italian Banking, Texas Style
“Italian finance officials and the European Commission are racing to find a solution for two troubled banks in the northern Veneto region that have weighed on the nation’s financial system.”
Real Estate President to 86 1031s?
It would indeed be ironic if Donald Trump of all Presidents would get behind 86ing 1031s.
Help Wanted: Lenders with No Experience (or Short Memories) to Make Risky Mortgages
Of course there’s a good market for loans to folks who don’t fit in the Dodd-Frank box and lenders can earn 6% to 10% from borrowers sporting credit scores of 660 and below. But fresh-faced originators can’t figure out how to make the loans.
Tesla: Automobile Rent Seeker
After state government paid $43 million to brothel owner Lance Gilman for Tesla’s land and now has forked over another $59 million in transferrable tax credits, taxpayer have “invested” $214,000 in each $22.00/hour job.
Illinois Heads toward Bankruptcy, while Bankrupting its Citizens
Without legislative action, Illinois will be the Greece of the USA Zone after “Moody’s followed S&P’s downgrade Thursday, citing Illinois’s underfunded pensions and the record backlog of bills that are equivalent to about 40 percent of its operating budget.”
Credit now Repaired, Money will Multiply
An increase in lending might just kick start the money multiplier and then some honest-to-goodness, noticeable, government-can’t-deny-it price inflation might be just around the corner.