Vancouver has been wracked by a white-hot property bubble driven primarily by offshore speculators, mostly Chinese, who have driven up the price of housing beyond the means of working Vancouverites, crippling the city's daily life as workers, students and families struggle to find somewhere -- anywhere -- to live. Read the rest
Sales of Manhattan co-ops and condos have plunged 20% in Q316, relative to the same quarter last year -- sales in excess of asking price dropped from 35% to 17%; days on market before sale increased from 67 to 72; median growth in sale price fell to 2.6% from 18%. Read the rest
Designed to be an entire festival-in-a-backpack, the Funn Pack comes complete with lasers, smoke machines, disco balls, and a huge sound system! Nothing impressed me more, however, than the sheer volume of bubbles the thing throws out. Perched a-top Dan's amazing contraption, the American DJ Bubbletron put out hours of uninterrupted bubbles, filling a several thousand square foot roof-top deck with joy!
If you're throwing a party, or a festival, and want to add instant energy, Dan can bring you the Funn. If you just need a bubble machine to fill the air with glistening, soapy fun, go with the Bubbletron!
Whole regions of England are now owned by holding companies in tax-havens "from Panama to Luxembourg, and from Liechtenstein to the South Pacific island of Niue." Read the rest
The West Village's unique identity made it one of the most valued real-estate spots in the world, which is why its bohemian tenants are being forced out by landlords who jack up the rent and leave the place empty until they can convince a multinational to sign a lease -- it's Mark Jacobs versus Jane Jacobs. Read the rest
Here's a Craigslist ad for a "hub for entrepreneurs" where you can be barracked in one of dozens of bunk-beds ranked in rows for a mere $999/month. But you also get access to plenty of whiteboards and brainstorm areas, and will no longer have to endure the misery of "hop[ping] from coffee shop to coffee shop" as you seek to launch your tech business.
When I moved to San Francisco in the late nineties, I lived in half an illegal sublet for about $2K/month, and that was a deal by the standards of the day. But I had it better than the guy paying $800/month for the Sears shed in the back-yard -- I got a toilet! Read the rest
Buzzfeed's Hunter Schwarz revisits 1998's "Scholastic Beanie Baby Handbook," which predicted values of Beanie Babies in 2008, and compares them to the current-day eBay clearing price for these same speculative items. For example, the Stripes the Dark Tiger doll, which retailed for $5 and traded for $250 in 1998 was predicted to rise to $1,000. Today it can be had on eBay for $9.95. And the $4,000-$5,000 estimated 2008 value for the Violet Teddy was also way off, though Violet is today a $700 item ($700 was also what it traded for in 1998).
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When it was just rich people going, it wasn’t about just getting a better job, because you were already rich, you already had the entré into the better job. You could already do unfunded apprenticeships and your parents’ friends were the people offering you the unfunded apprenticeships. You had a good five ways within the system. But now it’s a market transaction, and once it’s a market transaction we start applying cost benefit analysis to it. We start saying, well if the university degree earns you so many pounds, then it makes sense to start talking about you paying so many pounds. And if the objective here is to take people whose lifetime income expectancy was so many pounds, and make it a little bit higher –– which is what we call social mobility –– then why shouldn’t that be a virtuous cycle and they pay back into it. That way the university can expand the number of students they take on and all the rest of it, right?
The problem with that is that it’s become a Ponzi scheme, especially in America. We haven’t quite gotten there here. But in America, you have this crazy thing where it is somewhat true and it’s also universally received as true, that you can’t get a good job without a university degree.