Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-64824 Sat, 20 Jul 2019 14:54:29 GMT Credit Reporting Agency Equifax To Settle With FTC For $650M http://implode-explode.com/viewnews/2019-07-20_CreditReportingAgencyEquifaxToSettleWithFTCFor650M.html iehi-feed-64819 Fri, 19 Jul 2019 15:06:04 GMT Foreign Buyers Bolt From American Housing Market Amid Trump Instability http://implode-explode.com/viewnews/2019-07-19_ForeignBuyersBoltFromAmericanHousingMarketAmidTrumpInstability.html iehi-feed-64816 Thu, 18 Jul 2019 14:41:34 GMT Lendlease scores $15 billion project to help Google build homes in Silicon Valley http://implode-explode.com/viewnews/2019-07-18_Lendleasescores15billionprojecttohelpGooglebuildhomesinSiliconVa.html iehi-feed-64815 Wed, 17 Jul 2019 21:39:29 GMT Foreign purchases of American homes plunge 36% as Chinese buyers flee http://implode-explode.com/viewnews/2019-07-17_ForeignpurchasesofAmericanhomesplunge36asChinesebuyersflee.html Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, caused a stunning drop in foreign demand for American homes.

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The decline was due to a drop in the number and average price of purchases. Foreigners bought 183,100 properties with a total value of about $77.9 billion, down from 266,800 valued at $121 billion in the previous period.

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The Chinese were the leading buyers for the seventh consecutive year, purchasing an estimated $13.4 billion worth of residential property. Yet that was a 56% decline from the previous 12 months and comparatively the biggest percentage drop of all foreign buyers.

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iehi-feed-64814 Wed, 17 Jul 2019 15:41:00 GMT Nemesis Of Florida Foreclosure Activists Judge Meenu Sasser Passes Away http://implode-explode.com/viewnews/2019-07-17_NemesisOfFloridaForeclosureActivistsJudgeMeenuSasserPassesAway.html iehi-feed-64813 Tue, 16 Jul 2019 23:25:16 GMT NY Landlords Strike Back, Suing to Dismantle Rent Regulation System http://implode-explode.com/viewnews/2019-07-16_NYLandlordsStrikeBackSuingtoDismantleRentRegulationSystem.html The first notable constitutional challenge to rent controls came after Washington, D.C., and New York City adopted them following World War I. Since then, numerous suits have challenged regulations across the country, but the Supreme Court has ultimately upheld rent regulations.

The plaintiffs, however, have their sights on taking the suit to the Supreme Court, where they hope a new conservative majority will rule in their favor and recent rulings will buttress their case.

The suit has also been fast-tracked because of a Supreme Court ruling last month that allows plaintiffs to sue in federal court as soon as state and local governments take property without just compensation. An earlier ruling had required plaintiffs to sue in state court.

Still, reaching the Supreme Court could take years and chances are slim: The court accepts 100 to 150 of the more than 7,000 cases it is asked to review each year.

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Rent stabilization has been in effect for over half a century with the purpose of providing affordable housing and alleviating New York's housing crisis.

But the suit says the rent-stabilized system was unconstitutional even before the new laws were signed, calling it arbitrary and irrational, and a burden on the rights of property owners.

It says that rent regulations exacerbate the city's housing shortage and that, because there are no restrictions on the incomes of rent-regulated tenants, the system allows wealthy New Yorkers to benefit unfairly.

Economically, the landlords are absolutely correct (it's pretty obvious that rent regulation has just exacerbated the underlying problem over time), but there is a weak basis to roll back anything except the recent changes, unless the entire regulatory deference standard since the late 19th-century is to be overturned.

Also ironic that the only reason a suit like this even has a shot is because Trump and the repubs cheated and put an extra water-carrying justice on the Supreme Court -- doubly-ironic with Trump himself standing to benefit as a landlord.

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iehi-feed-64812 Tue, 16 Jul 2019 17:02:33 GMT Rhode Island Property Preservationist Busted In $10 Million Scam http://implode-explode.com/viewnews/2019-07-16_RhodeIslandPropertyPreservationistBustedIn10MillionScam.html iehi-feed-64810 Mon, 15 Jul 2019 21:38:47 GMT Career Insurance Fraudster Scott Jawetz Finally Going To Prison http://implode-explode.com/viewnews/2019-07-15_CareerInsuranceFraudsterScottJawetzFinallyGoingToPrison.html iehi-feed-64809 Sat, 13 Jul 2019 18:30:06 GMT Nassau County Non-Profit Director Convicted Of Pilfering $1M From Mentally Ill http://implode-explode.com/viewnews/2019-07-13_NassauCountyNonProfitDirectorConvictedOfPilfering1MFromMentallyI.html iehi-feed-64802 Thu, 11 Jul 2019 14:54:59 GMT NYC FiDi Supertall Condo Building Headed for Foreclosure Auction http://implode-explode.com/viewnews/2019-07-11_NYCFiDiSupertallCondoBuildingHeadedforForeclosureAuction.html iehi-feed-64801 Thu, 11 Jul 2019 14:23:32 GMT Nationstar Mortgage AKA Mr Cooper Mortgage Spits On Military Veteran http://implode-explode.com/viewnews/2019-07-11_NationstarMortgageAKAMrCooperMortgageSpitsOnMilitaryVeteran.html iehi-feed-64800 Wed, 10 Jul 2019 19:19:05 GMT NEW YORK CITY FORECLOSURE ALERT: Foreclosures Filings Blast Off! http://implode-explode.com/viewnews/2019-07-10_NEWYORKCITYFORECLOSUREALERTForeclosuresFilingsBlastOff.html iehi-feed-64796 Tue, 09 Jul 2019 19:54:41 GMT Stealth Bible Tax Created By Trump Infuriates Christian Groups http://implode-explode.com/viewnews/2019-07-09_StealthBibleTaxCreatedByTrumpInfuriatesChristianGroups.html iehi-feed-64794 Mon, 08 Jul 2019 19:35:40 GMT "Build-to-rent" housing market, driven by Millennials, explodes as investors rush in http://implode-explode.com/viewnews/2019-07-08_BuildtorenthousingmarketdrivenbyMillennialsexplodesasinvestorsru.html During the foreclosure crisis nearly a decade ago, investors plowed into the housing market, buying millions of distressed homes and turning some of them into lucrative rentals.

They transformed the once mom-and-pop market of single-family rentals into a large-scale, formally managed asset class -- and it is still growing, in fact faster than ever.

Foreclosures, however, are now few and far between. Distressed properties -- foreclosures and short sales ) -- make up just 2% of home sales today, down from a high of 49% in March 2009, according to the National Association of Realtors. The regular existing home market is very pricey, so investors are now turning to a new strategy: Buy new. And suddenly, the so-called build-to-rent market is exploding.

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"We've got clients, multiple, well over a couple billion dollars worth of capital looking to place in this space," said Michael Finch, executive vice president at SVN/SFRhub Advisors, a new Phoenix-based commercial brokerage firm focused on single family rental and build-to-rent investment portfolios. "They are looking to acquire 5-6,000 homes in the next two years."

Demand is growing, according to Finch, because while the huge millennial generation is aging into marriage and parenthood, not all of them want nor can they afford to buy a home.

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iehi-feed-64792 Sat, 06 Jul 2019 15:49:36 GMT Montana Man Pleads Guilty In Scamming $43 Million From Canadian Bank http://implode-explode.com/viewnews/2019-07-06_MontanaManPleadsGuiltyInScamming43MillionFromCanadianBank.html iehi-feed-64790 Fri, 05 Jul 2019 20:10:35 GMT Facebook Housing Discrimination Now Being Investigated By NYDFS http://implode-explode.com/viewnews/2019-07-05_FacebookHousingDiscriminationNowBeingInvestigatedByNYDFS.html iehi-feed-64788 Thu, 04 Jul 2019 16:38:56 GMT Equifax Executive Busted For Insider Trading From Data Breach http://implode-explode.com/viewnews/2019-07-04_EquifaxExecutiveBustedForInsiderTradingFromDataBreach.html iehi-feed-64786 Tue, 02 Jul 2019 15:07:57 GMT Is Ocwen CEO Glenn Messina Missing In Action? http://implode-explode.com/viewnews/2019-07-02_IsOcwenCEOGlennMessinaMissingInAction.html iehi-feed-64784 Sun, 30 Jun 2019 18:36:12 GMT Zillow Is Spying On You And Your House With New Algorithms http://implode-explode.com/viewnews/2019-06-30_ZillowIsSpyingOnYouAndYourHouseWithNewAlgorithms.html iehi-feed-64783 Sun, 30 Jun 2019 18:30:33 GMT Real Estate Fraudster Family Is Back Flipping Real Estate http://implode-explode.com/viewnews/2019-06-30_RealEstateFraudsterFamilyIsBackFlippingRealEstate.html