Must Read: The California Coastal Commission is unaccountable to taxpayers, corrupt and often capricious with the power it wields. Making matters worse, commissioners hit with fines or judgements for breaking rules have those costs picked up by the same taxpayers who they don’t answer to.
Keep it Simple: Recessions happen when the economy runs out of cheap money or resources to support growth and there are some signs starting to pop up that indicate we could be getting close to that point.
Legacy: The World’s post Lehman legacy is $250 trillion of debt, much of it on government balance sheets. Some really cool charts from Bloomberg in this link.
Risky Business: Investors are searching for better returns in secondary markets as yields continue to compress.
Size Matters: Blackstone expects to raise $18 billion for it’s new real estate fund, its largest one to date. This is particularly interesting in light of the fact that the biggest gripe about the market seems to perpetually be “too much money chasing too few deals.” The money continues to flow in. The deals, not so much.
This Is Not Surprising: The Bay Area has the highest retail worker shortage in the nation mainly because no one can come close to affording to live there earning retail wages.
On Equal Ground: New evidence shows that, despite belief to the contrary, manufactured homes appreciate nearly as well as site-built homes.
Don’t Call it a Comeback: North Las Vegas was arguably the epicenter of the housing bust. Now it’s booming again, raising concerns about affordability as well as the prospect of another boom. See Also: Las Vegas is booming again, and bracing itself for the next slump.
Marching Higher: Streaming TV services are beginning to raise their rates as they simply cannot make a profit at the bargain-basement prices offered today.
Gridlock: Ride share services like Uber once held the promise of reducing traffic in urban cores. However, there is a growing body of evidence that they are actually making it worse.
Chart of the Day
This is a lot closer than I would have thought.
Gotta Hear Both Sides: An inmate (allegedly) brutally killed his cellmate, carved out his eyeballs and put them in a cup then walked into the prison’s cafeteria wearing one of his ears on a necklace because Florida.
Master of Disguise: An Arizona man faked Down syndrome and hired caregivers to bathe him and change his diapers, easily putting himself in the running for the creepiest person of 2018.
It’s Always Something: The new iPhones are being accused of being sexist. Yes, iPhones.
Landmark Links – A candid look at the economy, real estate, and other things sometimes related.
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