UC Santa Cruz asks professors to rent their spare rooms to students who couldn't get housing guarantees

The director of housing for UCSC's Silicon Valley campus asked the university's 6,000 professors to consider sheltering their students to help bridge the shortfall between university-subsidized housing and the student body's needs, amidst the whitest of white-hot property markets in the nation. Read the rest

New Zealand bans most offshore residential real-estate ownership

With today's passage of the Overseas Investment Amendment Bill, the Parliament of New Zealand has banned nonresidents from buying most residential property in the country, in an effort to end the skyrocketing housing expenses (Auckland is one of the world's least-affordable cities) by freezing out overseas speculators, though these account for less than 3% of total real-estate transactions, with the majority coming from China. Read the rest

The UK's largest estate agency is on the verge of bankruptcy

Countrywide is the UK's largest property agents (they own estate agencies like Hamptons International, Bairstow Eves and Bridgfords), with 900 locations and 10,000 employees, and they're selling off shares at fire-sale prices in a desperate bid to raise £140 million to service their massive debts; the sum is 300% of the company's market cap, their shares are down 60% on the news, and the company blames plummeting London prices and Brexit jitters for their misfortunes. Read the rest

America's big cities are increasingly home to people living in their cars

In King County (which encompasses Seattle), the number of people living in their cars surged by 46% in the past year; and other big cities are catching up: LA, San Francisco, Portland, etc. Read the rest

California home-buyers are increasingly reliant on parental gifts to afford their down-payments

California's housing bubble has pushed prices so high (the median Californian home sells for double the national average) that, in some cities, 48% of first-time buyers could only afford to purchase their homes because their parents gave them the downpayment. Read the rest

Wall Street landlords are slumlords

Blackstone is the largest private equity fund in the world; when the 2008 crash hit and banks used the trillions in taxpayer bailouts to fund mass evictions of working people who'd been tricked into taking out predatory mortgages, Blackstone started bulk-buying them, creating rent-backed bonds (called Single-Family Rental Securities or SERS) that are the even-shittier successors to the mortgage-backed securities that detonated the world economy in 2008. Read the rest

The housing market in America's most expensive cities is imploding

From San Jose to Austin to Portland to Seattle (to name just a few), house prices are slumping, inventories are ballooning, and not-a-Nobel-Prize-winning economist Robert Shiller -- famed for spotting bubbles before they burst -- says "This could be the very beginning of a turning point." Read the rest

London luxury housing market bubble bursts: 39% of sales last quarter were to deep discount wholesalers making bulk buys

London's property market continues its implosion, brought on by a combination of tightening capital controls (much of the market exists to help offshore criminals launder their money), Brexit, and a long-overdue correction to a wildly inflated market. Read the rest

Restaurant servers can't afford San Francisco rents so restaurants are going self-serve

San Francisco is one of the most expensive places in the world to live -- six figure incomes are considered "low" and even the tiniest homes are farcically expensive. Read the rest

We know how to fix homelessness, we just won't do it

The largest, wealthiest cities in America are filling up with tent cities -- especially on the west coast, where East Coast style right-to-shelter laws are rare -- and if the spectacle of human misery doesn't alarm you, perhaps you should be thinking about communicable disease epidemics. Read the rest

The Rent's Too Damned High: 15,000 words on the ways real-estate speculation and inequality have killed NYC

Harper's has published The Death of a Once Great City, Kevin Baker's beautifully written, 15,000 word, non-comprehensive list of all the ways that raising the rents in New York City (something that was enabled by the related phenomena of the increasing wealth of the global rich and the influence of property developers on New York City's planning) has squeezed all the juice out of the city, evicting its people and its businesses in favor of "land banked" condos and co-op units that serve as "an investment, a pied-à-terre, a bolt-hole, a strongbox" -- and whose only viable retail is chain pharmacies and ATMs. Read the rest

GDP vs human thriving: a "healthy" economy means debt-haunted people, desperately searching for housing

GDP and stock market performance are the two metrics that economists (and politicians) use to measure the health of a nation's economy, and by those metrics, Trump is doing a hell of a job. Read the rest

Full time minimum wage workers can't afford the rent on a 2-bedroom apartment anywhere in the USA

In the US, states and cities have their own minimum wages, keyed to the local cost of living -- but every one of these minimum wages is insufficient to provide that most basic of needs: a roof over your head. Read the rest

New York surpasses Brexit London as the world's second-hottest luxury property market

If you are an oligarch or criminal looking to exfiltrate and launder your money, London property markets have been your go-to asset class: London lux is real-estate that behaves like cash, thanks to the long line of oligarchs and criminals who'll pay cash for your safe-deposit box in the sky on a few hours' notice, should you need to liquidate ahead of a purge or an indictment. Read the rest

US housing prices skyrocket for homeowners and renters alike

Since the crash of 2008, both home ownership and renting have been getting steadily more expensive, with median house prices rising to levels surpassing pre-crisis levels, while the ballooning private equity megalandlords pushed prices for renters to never-seen levels, using an eviction mill that saw more Americans thrown out of their homes than at any time in history to keep renters paying. Read the rest

Wisconsin clears the way for Foxconn by bulldozing working peoples' homes and paying them pennies on the dollar

Last July, Wisconsin's far-right state government declared victory for its "free market" agenda when it announced that it would transfer $3,000,000,000 in taxpayer-funded corporate welfare to Foxconn, in order to tempt the company to open a factory in the state -- despite the company's long history of broken promises and outright lies about the jobs and spending in other places that had welcomed it in. Read the rest

Eviction Lab: a comprehensive database of every eviction proceeding in America for the past 16 years

The Eviction Lab is a collaboration between Princeton University and Matthew Desmond, author of Evicted: Poverty and Profit in the American City Paperback; the lab's team gathered the court records of ever landlord-tenant proceeding in every court in every county in America for the past 16 years. Read the rest

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