In NYC, every tenant facing eviction is now entitled to a lawyer

America's hedge-fund driven eviction epidemic is most keenly felt in New York City, where deep-pocketed corporate landlords use dirty tricks to evict families from rent-controlled apartments, creating an epidemic of homeless working families with children. Read the rest

Toronto's insane real-estate bubble is finally bursting

Toronto's crazy-insane property prices stayed high even through the 2008 crash and its aftermath, but sales volumes of houses of all types plummeted by 40.4% for July 2017-vs-July 2016, new listings are up by 5% over the same period -- and the average selling price has fallen by 19% since April. Read the rest

London house-purchase volume falls off a cliff

In May 2014, 259 Islington homes changed hands; in May 2016, 139 houses were sold in the Borough: this May, it was 89. Read the rest

New York property speculators have figured out how to evict everyone

New York's catastrophic homelessness is about to get much, much worse: the skyrocketing property values (driven by speculators who buy apartments in order to get their money out of corrupt and failing states abroad, leaving them empty with the understanding that they can be cashed out on short notice, thanks to the white-hot market of other money-launderers) have attracted very deep-pocketed, anonymous hedge-funds that are snapping up buildings with rent-stabilized and rent-controlled units, who use a ruthless set of highly refined tactics to kick out all their tenants and then flip the building. Read the rest

A Hong Kong parking space just sold for USD664K

The 188 square foot parking space went for HKD5.18m (USD664,300) -- HKD27,500/sqft. Read the rest

London fire: just last year, Tory landlord-MPs rejected Labour's tenant safety law

The death-toll on London's Grenfell Tower fire continues to mount, it's worth remembering that there are no "natural disasters," only human disasters, created by people who weigh different interests in the balance and create policies based on the way the scales come up. 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

Weaponized shelter: a website that lets tenants bid against each other for apartments, in 1000 cities

Rentberry -- run by a Travis Kalanick-style markets-fix-everything doctrinaire named Alex Lubinksy -- collects renters' personal information and their bids on apartments, then presents them to landlords, who get to choose among high bidders to rent to. 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

Gorgeous, humbling photos of Manila's super-dense shantytowns

German photographer Bernard Lang has produced a photo series documenting the incredible overcrowding in the slums of Manila, a city whose mean density is 36,000 people/square mile, rising to 200,000 people in the city's 500 riverside slums. Read the rest

More anti-money laundering measures hit China as top three Bitcoin exchanges freeze withdrawals

Bitcoin's spiking prices have been driven almost entirely by Chinese money-launderers trying to beat the country's currency controls -- controls that have tightened so much that it's tanking the world's real-estate markets as offshore buyers abandon their deposits and disappear. Read the rest

Chinese government creates gate-guarded private village for hedge-funds near Hangzhou

Yuhuang Shannan -- an hour's high-speed train journey from Shanghai -- is a newly formed, walled village in which only hedge fund employees and their visitors are allowed to venture, a kind of Canary Wharf with Chinese characteristics, with schools staffed by non-Chinese teachers, a private club, and its own health care facilities. Read the rest

It used to take 3 years for a British family to save for a home down-payment; now it takes 20 years

The Resolution Foundation's Living Standards 2017 is an eye-opening look at the current state of the British experiment in allowing wealth inequality to expand without any check, to use a combination of austerity, the elimination of protection for tenants, reckless lending, offshore money-laundering and public subsidies for speculators to turn the human necessity of shelter into the nation's leading asset-class. 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

Survive the coming apocalypse inside a big pipe buried underground

Atlas Survival Shelters sells huge corrugated pipe shelters outfitted for living with air filtration systems, Co2 scrubbers, and power generators. A 10' x 20' shelter goes for $30-$40,000 and the "Hillside Retreat," a 10' x 51', runs as high as $109,000. Options include a big screen TV, electric fireplace, oak flooring, hatch camouflaged as a boulder, and many other fine amenities. From their pitch:

The only bunkers manufactured today that has actually been tested against the effects of a nuclear bomb and has passed, is the round corrugated pipe shelters (used in the 1950s) by the U.S. Army Corps of Enginneers..

The round shape worked then and still works today! There is little difference between the bunkers made 50 years ago and the bunkers made today except the addition of modern interiors, NBC air filtration systems, Co2 scrubbers, generators, and high-tech electronics. There is no other shape other then round that will allow you to reach the depth underground that you need for maximum protection for your family and to allow the climate to be controlled underground.

"Beware the Square". No pre-manufactured square metal bunkers passed the nuclear test and should only be regarded as a fallout shelter or tornado shelter at best!

Atlas Survival Shelters (via Uncrate)

Read the rest

China's anti-money-laundering rules could burst Canada's real-estate bubble

China has adopted stringent new anti-money-laundering rules that will make it nearly impossible for small investors -- for example, middle-class families who pool their savings -- to get their money out of the country in order to buy condos in Canada's superheated property market (not just Canada, of course!). Read the rest

America's gargantuan new corporate landlords evict the shit out of Americans

The housing recovery has been famously uneven, in every way: for one thing, it's allowed hedge-fund and publicly listed landlords to acquire a greater proportion of America's housing stock than ever, even as mass foreclosures created a new class of desperate tenants who pay rent to these corporate giants, who charge higher rents than ever. Read the rest

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