California in The Economist

01. May 2011 · Write a comment · Categories: Current Events, Legal, Politics

When The Economist covers your state, usually it’s not good news.

Sure enough, the cover of the magazine says “Where it all went wrong: A special report on California’s dysfunctional democracy”.

Hint: it all has to do with the proposition system.

This citizen legislature has caused chaos. Many initiatives have either limited taxes or mandated spending, making it even harder to balance the budget. Some are so ill-thought-out that they achieve the opposite of their intent: for all its small-government pretensions, Proposition 13 ended up centralising California’s finances, shifting them from local to state government. Rather than being the curb on elites that they were supposed to be, ballot initiatives have become a tool of special interests, with lobbyists and extremists bankrolling laws that are often bewildering in their complexity and obscure in their ramifications. And they have impoverished the state’s representative government. Who would want to sit in a legislature where 70-90% of the budget has already been allocated?

Dead Fish in Redondo Beach

09. March 2011 · Write a comment · Categories: Current Events

You’ve probably seen this picture circling around via LA Times – look at all the fish that died of hypoxia in the South Redondo Pier….

People are giving suggestions like making fish bait with it, or pizza with anchovies. But I have to go with the comment that said if sea gulls aren’t diving down to eat the fish, maybe we shouldn’t eat it either.

2008 Home Price Speculation

26. December 2007 · Write a comment · Categories: Cost of Living, Current Events, Real Estate

It’s that time of the year again… speculations abound for the coming year’s housing challenges and home prices.

Yahoo News posted Reuters’ report on a record drop in home prices nationwide, predicting that 2008 will continue to see home prices but 2009 may see a rebound. Washington Times looked at who’s to blame in the current housing debacle, comparing this cycle of housing bust with previous busts, and suggesting that “some combination of easy money, loose lending, greed and fraud” turned a housing boom into a bubble. More »

Homeowners Hurt Economy by Staying Put

15. November 2007 · Write a comment · Categories: Cost of Living, Current Events, Real Estate

Wall Street Journal’s Informed Reader blog recently reported on a research citing that homeowners hurt the economy because homeowners are less mobile than renters and therefore are less willing to leave when local economy takes a dive. This lack of mobility exacerbates unemployment issues and hinders new development with zoning rules. While homeowners are more likely to invest in their communities and improve their neighborhoods, these benefits may not offset the drawbacks.

Important Announcement from Countrywide's President

13. November 2007 · Write a comment · Categories: Banking in California Southbay, Cost of Living, Current Events, Real Estate

We got an email blast from Countrywide’s President, and it made me wonder whether Countrywide is worried about its customers leaving in droves due to recent concerns about the company’s wellbeing:

Dear Countrywide Homeowner,

As the mortgage and housing industry goes through unprecedented changes, Countrywide has been taking swift steps to help ensure that our customers won’t be impacted – and that we maintain our position as America’s #1 home loan lender.

With millions of current customers, no one is more committed to the dream of homeownership than Countrywide. And we continue to place an enormous value on customers like you.

As your home financing partner, we pledge to:
•Make sure you always know your mortgage options, and provide you with the information you need to make the best decisions.
•Tell you about opportunities to improve your home financing position, such as lowering your rate or payments.
•Make sure the loan process is always simple, honest, and straightforward, and that you know all terms and fees upfront.

I want to thank you for letting us serve your home financing needs, and assure you that your continued satisfaction will always remain our #1 priority.

Sincerely,
Andrew Gissinger III
President and Chief Operating Officer
Countrywide Home Loans, Inc.

« Older articles