China Syndrome? Is Evergrande A Symptom Of Deeper Malaise
BY Tyler Durden | ZeroHedge Authored by Bill Blain via MorningPorridge.com, Evergrande’s imminent default is rocking markets – but few believe the collapse of a Chinese property developer could trigger a global financial crisis. What if Evergrande is just a symptom of a deeper malaise within the Chinese economy and its political/business structures? Maybe there […]
Six Evergrande Execs Face ‘Severe Punishment’ Over Early Redemptions For Themselves
BY Tyler Durden | ZeroHedge Six senior Evergrande executives are facing “severe punishment” for securing early redemptions for themselves on investment products which the imploding Chinese real estate giant told retail investors they couldn’t repay on time. According to the Financial Times, over 40 group executives had personally invested in its investment products – with six of them securing early […]
Hong Kong Stocks Crash, Futures Slide As Markets Finally Freak Out About Evergrande Default Contagion
BY Tyler Durden | ZeroHedge Well, as we warned, the Evergrande contagion has finally arrived and with China closed for holiday traders are getting out while they can and where they can, and on Monday morning in Asia that means Hong Kong, where Evergrande – which is about to default – has crashed by another […]
Hating Landlords Misplaces The Blame
by Gary Galles “No wonder people f—–g hate landlords.” That was what comedian Andy Richter tweeted (since-deleted). What caused that reaction? A landlord wanted six months advance rent on an apartment he was seeking for his son. However, that expletive reflects misunderstanding rather than justifiable derision, of a type I call greedy-bastard economics. In greedy-bastard […]
20.2% Increase In California Construction Employment, 10th Largest In U.S.
By Mike LaFirenza While the potential for trillions of dollars of new infrastructure spending looms on the horizon, America’s construction industry is struggling to even keep pace with current demand for new homes, businesses, roads, and bridges. A shortage of supplies and employees has created ongoing challenges for construction firms and their customers. “The home […]
California Has The 13th Most Residents Behind On Mortgage Payments
After a year and a half of the COVID-19 pandemic, many of the policies put in place to protect homeowners and renters are coming to an end, and this fall could see a wave of foreclosures and evictions as a result. From early on in the pandemic, policymakers enacted measures to protect renters and homeowners […]
California Has 85.5% Mortgage Loan Approval Rate, Above Average
Pent-up demand from the pandemic, low interest rates, and a shortage of properties have created a booming housing market with near record levels of refinance activity. While typical home values have increased by 15% from a year ago, the housing market is expected to stay hot in many cities through the end of the year […]
California Is The 18th Best-Paying State For Roofers
The COVID-19 pandemic has caused long-lasting economic disruption in many industries, but one field that is poised for continued growth coming out of the pandemic is construction trades, including roofers. The occupational outlook for roofers from the U.S. Bureau of Labor Statistics estimates that nearly 15,000 roofing jobs will come open annually through 2029. But […]
Report: Prop. 13 Saves California Taxpayers $2.4B Each Year
By Cole Lauterbach | The Center Square Homes in California’s Riverside County. Jacob Findlay / Shutterstock (The Center Square) – A report examining California’s local ballot measures that raised taxes found hundreds of initiatives passed over the past decade, costing taxpayers billions of dollars every year. Local taxes or tax increases require voter approval in California, […]
Following SCOTUS Ruling, Gomez, Pressley, Bush, Ocasio-Cortez and Colleagues Call for Congress to Act on Eviction Moratorium
Press Release LOS ANGELES – In response to the U.S. Supreme Court’s ruling striking down the Centers for Disease Control and Prevention’s (CDC) most recent eviction moratorium, Congressman Jimmy Gomez (CA-34), along with Representatives Ayanna Pressley (MA-07), Cori Bush (MO-01), and Alexandria Ocasio-Cortez (NY-14), sent a letter to Speaker Nancy Pelosi and Senate Majority Leader […]
