San Francisco Magazine–
An epic battle has been raging over who can afford to live in San Francisco. The paper trail reveals that the city’s dominant landlords, the Lembi family of CitiApartments fame, bought up every building they could get their hands on, from the Tenderloin’s rattiest dumps to Nob Hill’s ritziest penthouses, with an audacious plan to drive up everyone’s rent. And their money came from the same financial geniuses who brought the world economy to its knees.
How Dubai’s burst bubble has left behind the last days of Rome – The Times Online
What the FHA’s New Criteria Mean for Housing – US News & World Report
Star of Real Estate Boom Is Confronting Hard Times – The New York Times
The Dark Side of Home Ownership – Maui Time
With more than 8 percent of Hawaii’s mortgages ‘underwater’ it’s time to revaluate our values
America Without a Middle Class – Elizabeth Warren
Can you imagine an America without a strong middle class? If you can, would it still be America as we know it?
Today, one in five Americans is unemployed, underemployed or just plain out of work. One in nine families can’t make the minimum payment on their credit cards. One in eight mortgages is in default or foreclosure. One in eight Americans is on food stamps. More than 120,000 families are filing for bankruptcy every month. The economic crisis has wiped more than $5 trillion from pensions and savings, has left family balance sheets upside down, and threatens to put ten million homeowners out on the street….
The map, which demonstrates the devastating effects of global warming in just a century, shows how San Francisco Airport would be completely underwater if sea levels were to rise by 150cm (60in).
The coastline on the map was also coloured, highlighting how nearly half a million Californians are at risk from rising sea levels.