"The Deals Are Collapsing" - Vancouver's Housing Bubble Has Burst
The government created this housing bubble by limiting land available for development, in a country which is all land an pretty much no people. This was an obvious form of insanity. So once the price of housing began to rise at Ludicrous Speed, the government panicked, and acted to hit the brakes. I do not know if this will result in a serious collapse, but it very well could. There are many other places in the US, even on the West Coast which have homes which would suit Chinese buyer's needs. I suggest taking a wait and see attitude, but I suspect this has significantly altered the housing price market in Vancouver, BC. It is always a bad idea to allow the local government power over land prices through urban growth boundaries, zoning and other similar mechanisms. The politicians, and the bureaucrats have no idea what they are doing, and giving them this power will nearly always result in a bad to terrible outcome. Let's hope this law permanently drives down the price of housing, and then the Vancouverites take back control of their land use rule from the politicians, and bureaucrats. Don't worry I am not holding my breath. The Vancouver housing market is unique it only responds to demand, not supply! The Vancouver housing market is white hot: Collapse is imminent
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Metro police arrest raises concern of radicalization in the ranks
Cop in Court for Allegedly Trying to Assist ISIS And just think of all the problems Europe is having. More after the break. Britain faces a nasty shock when the global energy cycle turns
Ambrose Evans-Prichard notes, "Britain's energy industry is dying. While the US is striving for self-sufficiency in fuel and power as a primary goal of strategic security in a dangerous world, this country has acted with strange insouciance. More after the break. The new heavily armed face of counter terror policing is revealed Don't dress up police officer men, like the SAS and think anyone will be fooled. I updated the lede because I felt the original was inappropriate. Those aren't police officers, those are SAS wanna be's. This is a police officer. This is the SAS. Houston we have a problem, that problem is the militarization of police forces. In America, crime, especially violent crime has dropped to levels approximately similar to the early 1960s, the exact time when the Andy Griffith Show was filmed. Yet our police look more like the cabbage head on the right than Barney Fife. Why? Bill Whittle makes a fine point. We need to stop the madness, de-escalate the militarization of the police, and return to more professional looking policing uniforms. We don't need tactical vest, or paramilitary looking uniforms, we need simple, straightforward police uniforms. A Landsburg Blast from the Past on Trade - Cafe Hayek
This piece was from 2008, but nothing has changed except the names of the politicians. More after the break. Chicago Pension Situation Improving Says Mayor: Careful Analysis Uncovers Lies | MishTalk Oh, wait, that was a Friday news dump, so it was designed to hide the ball. The ball Emanuel is hiding is the fact that the city is not making necessary pension contributions today, but is deferring them to the future, long after Emanuel will be gone. This is another story of the Boomers simply acting fiscally irresponsible, and forcing the Millennials to pick up massive payments in the future. So what does that generational fraud look like? This: The city will never catch up to these payment problems with this approach. It must get ahead of the problem, and contribute the necessary amounts to fund these pensions today, not long in the future. Millennials will rightly see this as an attempt to allow Boomers to live high on the hog today, press the city's current bills into the Millennials future, expect the Millennials to accept these payments, and accept the fact that they will never have the rich benefits enjoyed by the Boomers.
When this finally explodes, it will hurt many Boomers. I suggest making sure your retirement savings are sufficient regardless of undependable external benefits like pensions, and Social Security benefits. Fair warning. Then came the Russians, and they built something else entirely. "But then there’s all that left over communist stuff ringing the city. What exactly do you do with it all? Pulling it down and replacing it is too expensive. And many of these buildings are occupied by ethnic Russians not Latvians. (Latvia is a quarter Russian as a result of the Soviet occupation, but the city of Riga is closer to half Russian.)" Heh! You leave the crap digs for the Russians, they like this top down, neo-feudal crap. As for American suburbs looking like this crap, no, sorry none of them resembled this until the 20th century when the Bauhaus movement began to utterly destroy architecture, building the apartment horrors, and suburban horrors we are still left reeling from. This has again gained steam as recently Smart Growth cities like Portlandia began to build the progressive rejuvenation of Soviet/Bauhaus apartment hell, commonly known as TOD's. 7 Modern Buildings by Bauhaus Founder Walter Gropius | Architectural Digest This is the architecture of hell. Critics shoot holes in widely cited gun study | Fox News
Hiding data is such a tell. More after the break. Minimum Wage, Maximum Ignorance
The core belief is simple, if we raise the minimum wage, none of these workers will be terminated, none of these workers will suffer reduced hours, but all minimum wage workers will be paid more. More after the break. |
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