For the first time since the 70s, New York State is set to enshrine sweeping tenants' protections

There isn't single county in the nation where a minimum-wage worker can afford to rent a two-bedroom home; and although LA has the worst homelessness crisis in the country, New York state is catching up, with homelessness growing by 46% since the financial crisis -- the fastest rate in the nation. Read the rest

Connecticut's racist NIMBYs have used zoning laws and dirty tricks to make it one of the most unequal, racially segregated states in the union

Racism and oligarchy aren't merely Blue/Red phenomena: Connecticut has had a Democratic legislature for 22 years and a Democratic governor for eight years, and it is one of the nation's most racially segregated, unequal states, divided into affluent, all-white cities and towns with virtually no affordable housing and poor, underserved towns primarily inhabited by racialized people, whose children are five times more likely to be imprisoned than the white children across the city line a few miles away. Read the rest

To chase out low-waged workers, Mountain View is banning overnight RV and van parking

Mountain View -- home to some of Silicon Valley's most profitable companies, including Google -- is one of the most expensive places in the world to live, thanks to the sky-high wages commanded by techies, who have gone on to bid up all the real-estate in the region. Read the rest

The Oliver Twist workhouse is becoming a block of luxury flats with a "poor door"

The incredible human misery on display at the workhouse attached to central London's Middlesex Hospital inspired Charles Dickens to write "Oliver Twist"; now, Camden council has granted a developer permission to develop the site into luxury flats (just in time for the luxury flat crash!), in exchange for a commitment to build some below-market-rent social housing flats, which will be accessible through "poor doors." Read the rest

Pangea raised $180m to buy up low-rent Chicago properties "to help poor people," and then created the most brutally efficient eviction mill in Chicago history

Pangea was founded by Al Goldstein, a Deutsche Bank investment banker who quit to found a massive, intercontinental payday lending outfit; he tapped the investors that he enriched with his payday lending business to stake him $180 million and bought up thousands of low-rent buildings in Chicago's poorest neighborhoods (which are also Chicago's blackest neighborhoods). Read the rest

Vancouver's housing bubble was driven by billions in laundered criminal proceeds

The British Columbia government commissioned independent investigator Peter German to produce a report on the role of laundered criminal money in the province's white-hot real-estate bubble, centred on the city of Vancouver; German's report found that last year alone, CAD7b was laundered through BC, with much of that money going into property (as well as luxury cars and casino gambling). Read the rest

Chinese urbanization has left 25 million vacant homes in rural villages

China is undergoing the largest real-estate bubble in history, and things keep getting weirder and weirder, with the specter of a burst bubble looming overall. Read the rest

"Smart" doorlocks have policies that let landlords and third parties spy on you

Latch is a leading vendor of internet-of-things "smart" doorlocks that are in increasing use in rental housing (the company claims 10% of all new multiunit construction incorporates their product); they allow entry by keycode, keycard, and Bluetooth. Read the rest

Thanks to the 2008 foreclosure crisis, a Kuwaiti ponzi schemer was able to single-handedly blight cities across America

After the 2008 economic crash and the ensuing foreclosure crisis, AbdulAziz HouHou ran a ponzi scheme that bilked other Kuwaitis out of millions that were spent buying and flipping foreclosed houses across America, particularly in hard-hit rustbelt towns like Buffalo and Rochester. Read the rest

Brexit is cratering London house prices

The Royal Institution of Chartered Surveyors' latest UK house price survey blames Brexit for continued declines in property prices in London and the southeast, "the worst slump since the financial crisis," with far more supply than demand. (via Naked Capitalism) Read the rest

Millennials are killing McMansions

It all seemed so innocent when architecture grad student Kate Wagner started pushing her charming brand of millennial snark on us with her acerbic critiques of gaudy, poorly executed monster homes, but architecture is no laughing matter. Read the rest

London developer makes last-minute changes to lock poor kids out of "communal" playground

Henley Homes got permission to build a 149-home development on the site of the Baylis Old School complex on Lollard Street by promising to include some subsidised, below-market-rent units and "a network of courtyards and open spaces ... which will provide attractive areas for informal play. This will emphasise the sense of community within the scheme stressing that the common areas are there for the use of all the residents." Read the rest

Majority of London's newly built luxury flats are unsold, raising the spectre of "posh ghost towers"

Property developers in London built more than 1,900 luxury flats in 2018, the majority of which have so far failed to sell; all told, there are 3,000 luxury flats on the market, a high-water mark for a city whose property market was hijacked by offshore oligarchs and criminals who converted much of the housing stock into empty safe-deposit boxes in the sky. Read the rest

Save the Vulcan! 200 working-class Oakland artists are crowfunding to save their homes and fight the-rent-is-too-damned-high

[Editor's note: Xeno Evil is an Oakland artist fighting to save their home; I'm happy to help them with their campaign -Cory]

The historic Vulcan Lofts in Oakland, CA are up for sale and nearly 200 working-class Bay Area artists are at risk of losing our homes. In order to save the Vulcan, we’ve founded a tenant’s union, hired several attorneys, and petitioned the City of Oakland to put the building under rent control. Our hearing with the rent board is coming up very soon and we need to raise $50k in the next month to cover legal costs. Please support us by donating to our cause and sharing our crowdfunding campaign with your network. We love you. Read the rest

London's awful estate agents are cratering, warning of a "prolonged downturn" in the housing market

London's estate agents were notorious profiteers of the property bubble, listing on the stock exchanges and rewarding investors with soaring share-prices that reflected the human misery of a city where life got harder and more expensive every day, where communities were shattered, and where subprime lending and other sleazy financial practices helped to destroy the global economy in 2007-8, triggering more than a decade of crisis from which we have yet to recover. Read the rest

Signs that China's real-estate bubble will burst and take the economy with it

China's real-estate bubble is the largest in human history, and despite years of warning signs, it has grown and grown, spilling over into the rest of the world. Read the rest

Kleptocracy in America: Russian-style corruption, driven by global oligarchs, enabled by US elites

As Naomi Klein documents in her classic and seminal book The Shock Doctrine, disasters and upheavals are the bread-and-butter of global looters, who use the collapse of civil society or the default of debtor states to privatize state assets at pennies on the dollar, then milk them into further crises, which create more chances for looting -- but the collapse of the USSR was different, because the spies and strongmen who rode out that collapse ensured that public assets were only given to domestic looters, not off-shore oligarchs. Read the rest

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