Why Renters Rule U.S. Housing Market (Part 1) – Gary Shilling
The collapse in housing and the 33 percent plunge in house prices since 2006 are favoring renting over homeownership. This trend will dominate the housing market for the next four or five years, and put additional pressure on a weak economy.
Some in Congress support raising the minimum rent as an adjustment for inflation, but the resources of poor families generally have not increased.
Mortgage fraud hits ‘eye-opening’ level in Canada – Vancouver Sun
Economy & Europe
Gas prices spike – SF Gate
Californians now pay, on average, $4.04 for a gallon of regular, according to the AAA auto club. San Francisco’s average on Tuesday hit $4.08. In San Jose and Oakland, it was $4.03.
Never before has the statewide average hit $4 so early in the year.
By the mid-1990s, such figures looked quaint: a third of Americans were born outside marriage. Congress, largely blaming welfare, imposed tough restrictions. Now the figure is 41 percent — and 53 percent for children born to women under 30, according to Child Trends, which analyzed 2009 data from the National Center for Health Statistics.
Lin Files Own Request for ‘Linsanity’ Trademark – Bloomberg
Zillow Falls 6.1% After Stock Sales by Execs – Bloomberg
“Investors are seeing the headlines around insider sales and that’s causing some concern,” Chad Bartley, senior research analyst at Pacific Crest Securities Inc. in Portland, Oregon, said in a telephone interview. “The stock is expensive.”