Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-64116 Sun, 15 Jul 2018 11:18:07 GMT Hasidic Heavyweights Taking Over New York Get Unmasked http://implode-explode.com/viewnews/2018-07-15_HasidicHeavyweightsTakingOverNewYorkGetUnmasked.html iehi-feed-64111 Fri, 13 Jul 2018 17:21:09 GMT New Wells Fargo Public Relations Campaign Blows Up In Their Face http://implode-explode.com/viewnews/2018-07-13_NewWellsFargoPublicRelationsCampaignBlowsUpInTheirFace.html iehi-feed-64109 Fri, 13 Jul 2018 00:27:45 GMT Report: Michael Cohen Buys $6.7 Million Apartment in NYC http://implode-explode.com/viewnews/2018-07-12_ReportMichaelCohenBuys67MillionApartmentinNYC.html iehi-feed-64107 Thu, 12 Jul 2018 16:26:22 GMT Are NEW Chinese buildings really FALLING DOWN? (VIDEO) http://implode-explode.com/viewnews/2018-07-12_AreNEWChinesebuildingsreallyFALLINGDOWNVIDEO.html iehi-feed-64095 Sat, 07 Jul 2018 20:18:19 GMT Trump Loses New York State Tax Exemption On Trump Tower Condo http://implode-explode.com/viewnews/2018-07-07_TrumpLosesNewYorkStateTaxExemptionOnTrumpTowerCondo.html iehi-feed-64092 Fri, 06 Jul 2018 17:21:15 GMT Mortgage Bankers Association In Panic Mode http://implode-explode.com/viewnews/2018-07-06_MortgageBankersAssociationInPanicMode.html iehi-feed-64083 Wed, 04 Jul 2018 16:40:26 GMT Sexual Assault Costs Mortgage Entrepreneur $3 Million An His Job http://implode-explode.com/viewnews/2018-07-04_SexualAssaultCostsMortgageEntrepreneur3MillionAnHisJob.html iehi-feed-64079 Tue, 03 Jul 2018 18:47:43 GMT Wamu Successor WMIH To Buy Controlling Stake In Nationstar http://implode-explode.com/viewnews/2018-07-03_WamuSuccessorWMIHToBuyControllingStakeInNationstar.html iehi-feed-64074 Mon, 02 Jul 2018 16:25:56 GMT Deutsche Bank USA Fails Federal Reserve Stress Test http://implode-explode.com/viewnews/2018-07-02_DeutscheBankUSAFailsFederalReserveStressTest.html iehi-feed-64068 Fri, 29 Jun 2018 14:43:36 GMT Bank of America Violated Fair Housing Act Says Civil Rights Groups http://implode-explode.com/viewnews/2018-06-29_BankofAmericaViolatedFairHousingActSaysCivilRightsGroups.html iehi-feed-64066 Thu, 28 Jun 2018 17:42:19 GMT NYC Poised To 'Significantly' Crack Down On Illegal Use Of Airbnb http://implode-explode.com/viewnews/2018-06-28_NYCPoisedToSignificantlyCrackDownOnIllegalUseOfAirbnb.html Christian Klossner, executive director of the Office of Special Enforcement for the city, said during the hearing that 20 to 30 percent of Airbnb listings operate with commercial frequency. According to Klossner, the new bill would "significantly" enhance the city's ability to crack down on illegal commercial hosts. Mayor Bill de Blasio is also in support of the legislation.

Funny that the city itself is admitting what AirBnB itself argues: that the overwhelming majority of hosts use it for occasional extra income (e.g., when they themselves travel). Looks like AirBnB is just a convenient scapegoat for an otherwise very messed up real estate market -- "The Rent Is Too Damned High" long predates AirBnB. NYC's government should look in the mirror and ask themselves whether they're really facilitating the development the market demands (you know, that whole "supply" thing)...

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iehi-feed-64065 Thu, 28 Jun 2018 17:36:02 GMT Freddie Mac seeks widespread expansion of 3% down mortgages http://implode-explode.com/viewnews/2018-06-28_FreddieMacseekswidespreadexpansionof3downmortgages.html In San Francisco, you are now considered "low income" if you make less than $117,000 a year.  That makes sense when a standard home sells for $1.5 million.  So now we have Freddie Mac attempting to push 3% down mortgages on a much larger scale since many people are priced out.  What can possibly go wrong?

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You have closing costs and in many cases, there are commissions to pay out once escrow closes. These may range from 3 to 5 percent. So when you purchase a home with a 3 percent down payment, you are essentially putting yourself in a zero or negative equity position from day one if you needed to sell.

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iehi-feed-64064 Thu, 28 Jun 2018 13:53:22 GMT The New York Real Estate Industry Bet Big On Joe Crowley And Lost http://implode-explode.com/viewnews/2018-06-28_TheNewYorkRealEstateIndustryBetBigOnJoeCrowleyAndLost.html iehi-feed-64059 Tue, 26 Jun 2018 13:35:16 GMT How To Beat An FHA Foreclosure Without Acting Like A Crazy Cat Lady http://implode-explode.com/viewnews/2018-06-26_HowToBeatAnFHAForeclosureWithoutActingLikeACrazyCatLady.html iehi-feed-64052 Sat, 23 Jun 2018 16:21:20 GMT Aggressive FHA Mortgage Foreclosure Defense That Works! http://implode-explode.com/viewnews/2018-06-23_AggressiveFHAMortgageForeclosureDefenseThatWorks.html iehi-feed-64036 Mon, 18 Jun 2018 14:13:20 GMT Mulvaney Minion Kathy Kraninger Nominated As New Head Of CFPB http://implode-explode.com/viewnews/2018-06-18_MulvaneyMinionKathyKraningerNominatedAsNewHeadOfCFPB.html iehi-feed-64033 Sun, 17 Jun 2018 13:18:56 GMT Catty Wells Fargo Retaliation Against Critics Has A Long History http://implode-explode.com/viewnews/2018-06-17_CattyWellsFargoRetaliationAgainstCriticsHasALongHistory.html iehi-feed-64032 Sat, 16 Jun 2018 15:22:11 GMT Wells Fargo Was The Willy Wonka Of Booze, Drugs & Sex http://implode-explode.com/viewnews/2018-06-16_WellsFargoWasTheWillyWonkaOfBoozeDrugsSex.html iehi-feed-64024 Fri, 15 Jun 2018 15:33:42 GMT New Home Prices to Increase 20 Percent Due To Trump's Lumber Tariff http://implode-explode.com/viewnews/2018-06-15_NewHomePricestoIncrease20PercentDueToTrumpsLumberTariff.html iehi-feed-64019 Thu, 14 Jun 2018 15:58:04 GMT The George Costanza Of The Trump Administration Out At CFPB http://implode-explode.com/viewnews/2018-06-14_TheGeorgeCostanzaOfTheTrumpAdministrationOutAtCFPB.html