Palestinian Refugees Heading to America
To the surprise of none, President Joe Biden is considering allowing Palestinians to seek refuge in America. Technically, they could already come here; anyone and everyone could come here, as [...]
People Living in their Cars in California?
A very interesting issue has emerged in California. The price of real estate rose so high that the median price for a home reached $600,000 and the price was just too high. Consequently, people began to take up residence sleeping in their cars. A recent article looked at the issue and found that 15,000 people live in cars, vans, and RVs in Los Angeles alone. They were citing the US Department of Housing and Urban Development. This was just LA alone. Real Estate is starting to crash in California because (1) it exceeded the cost of the average person, and (2) taxes are rising and that further reduces the net disposable income. It is not just the price of the house, as taxes rise they reduce the take-home pay and thus the price of a house after taxes rises even faster. These two trends are colliding and this is why California real estate has begun to decline.
Latest Posts
The UK Will Deport Migrants to Rwanda
Prime Minister Rishi Sunak finally has the power to bypass the European Union courts and tackle the UK’s migrant crisis. About 1,843 illegal immigrants crossed into the UK in 2019, [...]
US Home Prices Nearing All-Time Highs
Home prices in the US are near all-time highs. As I repeatedly stated, we can no longer look at real estate on the national level. Demand and value are contained [...]
Market Talk – May 2, 2024
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 37.98 points or -0.10% to 38,236.07 Shanghai closed Hang Seng increased 444.10 points or [...]
