Crash ahoy! London real-estate prices stagnate

In a world of expensive urbanization where the spiraling cost of basic shelter has forced ever-more people into debt and fuelled a speculative global bubble of criminal money-launderers who use luxury housing as empty safe-deposit boxes in the sky, London is ground zero. Read the rest

Real estate bubbles lower the birth-rate

Shelter is a human necessity second only to food on Maslow's hierarchy of needs; but it's also an asset-class that is increasingly relied upon by the world's super-rich for money-laundering, rent-extraction and simple investment -- this creates a dilemma for governments, who are under pressure to ratchet up the cost of a fundamental human necessity in order to enrich a minority of wealthy land- and property-owners. Read the rest

Australia leads the world in selling housing to money-launderers

A new Transparency International report ranks the world's most superheated urban property markets to find the most corrupt and finds that Australia is a playground for offshore criminals looking to launder their money, because "real estate agents are not subject to the provisions of the Anti-Money Laundering and CounterTerrorism Financing Act 2006," thus, "70 per cent of Chinese buyers pay in cash and they represent the largest proportion of foreign purchases in the country." Read the rest

China's capital controls are working, and that's bursting the global real-estate bubble

More news on the Chinese crackdown on money-laundering and its impact on the global property bubble: the controls the Chinese government has put on "capital outflows" (taking money out of China) are actually working, and there's been a mass exodus of Chinese property buyers from the market, with many abandoning six-figure down payments because they can't smuggle enough money out of the country to make the installment payments. Read the rest

Company tells disgruntled customer that he will not receive support unless he removes a negative review, then threatens to sue him

After N2SUB posted a thoughtful, negative review of Ham Radio Deluxe, the company responded to his open trouble ticket with instructions that tricked him into bricking his software, caused his software to stop working in the guise of fixing his problem, then told him they'd done it on purpose, sent him a note implying it had been deliberate and stating he wouldn't be welcome to use their software anymore unless he deleted his review, and threatened to sue him. Read the rest

Embarrassed New Yorkers force Trump Place to change name

New Yorkers renting in the Trump Place buildings on the upper west side have forced the building's owner to take Trump's name off their homes. Read the rest

My neighborhood realtor is determined to turn a buck on electoral eschatology

(found this hanging from my front door-knob) Read the rest

July: Vancouver imposes a 15% tax on foreign real estate speculators; September: home sales drop by a third

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

California's 40-year-old ban on property tax raises has made the rich a lot richer

In 1978, California ballot initiative Proposition 13 capped property taxes at 1% of assessed value and increases at 2% per year, creating a massive hole in the ability of cities to fund their operations, which has only been partially plugged by hiking sales taxes and utility rates, regressive moves that disproportionately shift the burden of civic services to low-income households. Read the rest

London luxury property prices plummet after Brexit vote

A Russian home-buyer pulled out of a "agreed offer" of £6.95m for a six bedroom Kensington flat, now it's listed for £6.75m; a three-bedroom in Swiss Cottage is down to £1.05m from £1.5m; a £1.1m 2-bedroom in Whitechapel is now £720,000; a 2bm maisonette in Notting Hill fell from £1.59m to £1.35mk; a £1.3m 5br in St. Reatham is down to £850,000 and estate agents have mutually agreed to go back to calling it Streatham. Read the rest

US Treasury Dept wants to know which offshore crimelords are buying all those NYC and Miami penthouses

It's an open secret that the world's luxury property boom is being driven by crooked rich people in the former Soviet Union, Asia, and Sub-Saharan Africa who have looted their homelands and want to stash the money out of reach of any new dictators who might come along and change which oligarchs are favored and which are not. Read the rest

Cybercrime 3.0: stealing whole houses

Articles in the UK and US press describe fraudsters who used public document registries to steal entire houses, using forged documents to list the houses for sale, transferring title to them, and disappearing (or attempting to) with a lot of money in their pockets.

Funny because it's true: "Tories to build thousands of affordable second homes"

The UK humour site Daily Mash nails the UK's transformation into a Torified, bank-centric place where the need for shelter is a vulnerability to exploit in order to enrich yourself at the expense of the people around you with a brilliant short piece: "Tories to build thousands of affordable second homes." Read the rest

Tube-map labelled with one-bedroom flat rental rates

Since the crisis, the number of people renting in the UK has sharply increased, but the number of landlords has decreased, as a smaller and smaller number of richer and richer people control the destiny of more and more Britons. Read the rest

Interactive map of the swathes of England owned by offshore tax-dodgers

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

For sale: one volcano supervillain lair

The Volcano House, "a saucer shaped mid-century icon perched on top of a 150-foot cinder cone," is $650,000 or best offer -- but you'll have to commute to the Mojave. Read the rest

Los Angeles is selling off some very odd lots, including a sidewalk corner

The 50 properties for sale on behalf of the City of LA are unusual and encumbered, the weird offspring of zoning rules, surveyors' errors, and complex subrights, like the "air rights" over a given piece of land. Read the rest

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