Rents in California have skyrocketed over the past decade, thanks to the innumerable restrictions, taxes, and fees that the state imposes on new housing development. Now Sen. Kamala Harris (D-Calif.) wants the rest of the country to pay to fix this problem. On Thursday, Harris, along with Sens. Richard Blumenthal (D-Conn.), Maggie Hasan (D–N.H.), and …
by J.D. Tuccille Do you have a permit for that? If you want to keep that permit, you’d better do as you’re told. Increasingly, that’s the theme of modern America. More and more of what we do is dependent on permission from the government. That permission, unsurprisingly, is contingent on keeping government officials happy. Rub those …
More and More of What We Do Depends on Government Permission Read More »
Investors are bullish that more Americans will choose to be renters, and they’re buying up even more single-family homes to make sure they are ahead of the trend. The number of homes purchased by major investors in 2017 was about 29,000, up 60 percent from the previous year, according to Amherst Capital Management LLC, a …
When it was created,the Consumer Financial Protection Bureau (CFPB) budget was not put under Congressional control. It is funded by the Federal Reserve. The U.S. House wants to change that. On July 19, the House approved H.R. 6147, a bill that puts Congress in control of the CFPB budget. The vote was 217 for and …
A Texas real estate promoter has been sentenced to 20 years in state prison for securities fraud and theft for swindling investors. The jury only needed 15 minutes to convict Everett Craig Williams. He was also ordered to pay $189,000 in restitution to investors who didn’t know the money they thought they were putting into real …
According to the Wall Street Journal, from developers to nonprofits, everyone is grabbing for the tax breaks offered for investments in low-income neighborhoods, or “opportunity zones.” These zones were created as part of the tax overhaul and allowed governors to designate up to 25% of their state’s low-income Census tracts as tax-favored opportunity zones where investors can defer …
It appears that the family that commits mortgage fraud together goes to jail together, too. Three members of a California family who ran a foreclosure company will spend more than 45 years in jail, collectively, after each was found guilty of participating in a $20 million mortgage fraud scheme that preyed on financially distressed homeowners. …
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Foreclosures in the first half of 2018 are far below their peak of 1.6 million in 2010, but 40% of local markets showed an uptick in foreclosure starts. The first six months of 2018 saw 362,275 foreclosure filings, a 15% decline from the same period last year. But 40% of local markets showed an uptick …
Cities along the West Coast, unsurprisingly, have some of the priciest homes in the nation. Among the 10 cities with the highest share of homes worth more than $1 million, four are in California: San Jose, San Francisco, Los Angeles, and San Diego, according to a new LendingTree analysis. In these four housing markets, more …
At the end of last year, Puerto Rico suffered a devastating hurricane, which some estimates say killed as many as 5,000, and left the island without power for weeks. Now, Americans are moving in on the island, capitalizing on the downward trend in real estate prices due to the storm. After Hurricane Maria hit the …
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