Posts Tagged ‘Financial Crisis’
The recession/depression and housing crash have certainly altered the old American Dream…at least for the foreseeable future. The ongoing foreclosure crisis will drive another 3 million families to rent single family homes before 2015.
These millions of people are not typical renters, either. They are older. They have furniture, appliances, kids and pets. They are not interested in apartment living. They are looking to move back into single family homes, after foreclosure. This new growth in single family rentals is the fastest growing part of the rental market and the pace is unprecedented.
A Nation of Renters Appears to be the Plan?
Private Equity groups smell the blood in the water. They are buying up billons of dollars in distressed property, which they will in turn rent back to American families. Colony Capital, for example, has purchased over 1ooo single family homes since December of this year and plans to invest at LEAST $1.5 BILLION more this year.
In the next 5-10 years, investment firms will gobble up hundreds of billions of dollars of single family homes, at basement prices. They will Raise rents every chance they get over the next 3-5 years. Then, they will dump these properties for a profit and move on something else.
How does a Renting Society change the American neighborhood?
The combination of transient families and declining home values will take a huge toll on American neighborhoods. A rentership society is much less likely to spend money on plants, a fresh coat of paint, new carpet or a fenced yard—as they would if they owned the home they live in.
Renters also mean shifts in student populations and present more challenges for our school systems. Many schools in the Phoenix area report that 50% of their students will be new this year, a far higher percentage than normal. Everything slows down when a new student enters a classroom and parents are less likely to be involved, when they are not sure they will be there for long.
Is American homeownership still the American Dream?
Thankfully, the answer is YES. 83% of people who lost their homes to foreclosure or distress sales say they want to own their own home again. Most say they will buy something smaller than they had. Many promise they will never again tie up so much of their income for a home. Many who are forced to rent feel displaced. They feel that they are living in someone else’s house. They are fearful of entering retirement without having a home that is paid for…which only owning and paying off a mortgage will accomplish. So, yes, neigborhoods are changing…new homeowners aren’t families, but are investment firms…but appears for all the right reasons… the American dream is alive… at least for now.
Okay, sure… not ALL of the beds in these cities are infested. But if you’re planning on hotel stays in any of these destinations, you might want to do an inspection around the headboards before you lay your body down.
Pest control corporation Rollins (which owns seven companies - including Orkin) reports a 34% rise in bed bug biz from 2010 to 2011.
Here’s the list, including the change from the previous year’s ranking:
3. Detroit (+1)
4. Denver (+2)
5. Los Angeles (+20)
6. Columbus, Ohio (-3)
7. Dallas/Fort Worth, Texas (+43)
8. Washington, D.C. (-3)
9. New York (-2)
10. Richmond/Petersburg, Va. (+6)
11. Houston (-1)
12. San Francisco/Oakland/San Jose, Calif. (+35)
13. Cleveland/Akron/Canton, Ohio (+1)
14. Boston (+4)
15. Dayton, Ohio (-7)
16. Las Vegas (-1)
17. Honolulu (+55)
18. Baltimore (-6)
19. Raleigh/Durham/Fayetteville, N.C. (+9)
20. Philadelphia (-9)
21. Atlanta (+24)
22. Lexington, Ky. (-13)
23. Syracuse, N.Y. (+25)
24. Miami/Fort Lauderdale, Fla. (+27)
25. Colorado Springs/Pueblo, Colo. (+19)
26. San Diego (+13)
27. Seattle/Tacoma, Wash. (-3)
28. Omaha, Neb. (-11)
29. Buffalo, N.Y. (-16)
30. Pittsburgh (-3)
31. Indianapolis (-12)
32. Milwaukee (+6)
33. Charlotte, N.C. (+13)
34. Phoenix (+19)
35. Louisville, Ky. (-3)
36. Hartford/New Haven, Conn. (-16)
37. Grand Junction/Montrose, Colo. (+30)
38. Knoxville, Tenn. (+4)
39. Grand Rapids/Kalamazoo/Battle Creek, Mich. (-17)
40. Nashville, Tenn. (+15)
41. Sacramento/Stockton/Modesto, Calif. (+24)
42. Des Moines/Ames, Iowa (-13)
43. Salisbury, Md. (+46)
44. Albany/Schenectady/Troy, N.Y. (-23)
45. Cedar Rapids/Waterloo, Iowa (-22)
46. Minneapolis/St. Paul, Minn. (-20)
47. Lincoln/Hastings/Kearney, Neb. (-17)
48. Salt Lake City (-8)
49. Charleston/Huntington, W.Va. (-13)
50. West Palm Beach/Ft. Pierce, Fla. (+6)
Thank you for visiting InfoTube.net. Visit our website to list property, search for a home, purchase an InfoTube or InfoBox or place a property listing on the MLS or Realtor.com. If you have a home to sell….we can help and save you money!!
We would like to say a big THANK YOU to the folks at Lowes Hardware for putting InfoTube back on the store shelves.
Lowes has been a supporter of InfoTube since the early 1990′s, but they made a decision to stop stocking The InfoTube a few years back, when the real estate market hit the skids.
Now, in support of our effort mutual efforts to Support American products and American workers, Lowes has restocked the shelves with InfoTubes, in anticipation of the spring home selling season. As a result, we have been able to add workers and our customers love the convenience of shopping at Lowes. (Lowes will also continue to sell our popular InfoBox, too.)
We appreciate everyone at Lowes and we appreciate all of you. Please look for our products trademarked Red Lids and Caps when you shop…and ask for InfoTube and InfoBox products by name.
Say NO to Chinese imports. Together, we can rebuild our country… one little product and one worker at a time.
Take a look at the imagination and resourcefullness that this home builder used to convert two, abandoned, semi truck trailers into a sweet 2 bedroom cabin in the woods.
First, Locate an abandoned truck trailer that is no longer road worthy.
Place the trailers onsight and weld the two structures together.
Sketch up your Floor Plan and get to work.
Cut through and bring your two worlds together
Stucco over the metal on the trailers to add insulation and prevent further rusting. Cut out your windows.
Install double insulated windows and french doors.
Frame out the house. Add batt insulation between the studs.
Panel the walls, put in the floors and move your furniture in.
Hang up your flat screen and watch the game.
Congratulations to this Green, Creative Homeowner!! Home Sweet Home for a few thousand dollars. Stucco exterior. Double Paned Windows. French Doors. And, 1162 square feet of warm, cozy living space.
Thank you for visiting InfoTube.net. Place a FREE home or land listing, search for thousands of great deals or shop for Made in the USA real estate marketing products.
The Original Sock Monkey is one of the quality products made by Fox River Mills in Osage, IA. Fox River was founded on the principle of offering a superior product with great service at a fair price. Today, Fox River Mills in one of the leading outdoor, athletic, and lifestyle sock manufacturers in the world. Fox River socks and handwear can be found worldwide in the finest outdoor, sporting goods, specialty stores, and online retailers. Their Store Locator will make finding FOXSOX simple.
The old-fashioned, handcrafted sock monkey dolls made with Original Rockford Red Heel® socks from Fox River Mills have become a favorite piece of “Americana” over the years. Intended and worn even today as work socks, mothers in the early 1900′s fashioned these Rockford socks into sock monkeys for their children.
Clever crafters have been making Sock Monkeys and other animal sock dolls ever since. In 1890, Nelson Knitting began manufacturing these Red Heeled socks. Fox River Mills purchased Nelson Knitting in 1992. Today, the instructions for making these dolls are still included in each package of authentic Red Heel Monkey socks. Crafters have been lovingly making Sock Monkeys for generations. Please browse through their website and view the adorable selections.
Thank you for visiting InfoTube.net. Our business is manufacturing outdoor document containers and helping people market real estate. Our passion is creating, saving and growing American jobs. Thank you for your business and support over these last 20+ years!!
The male-dominated industry has never seen anyone quite like Lynn Tilton, a New York financier who since 2000 quietly has been amassing an empire, acquiring or investing in more than 70 companies, with holdings totaling $8 billion.
Lynn Tilton, New York financier and owner of MD Helicopters, gives out signed photos of herself to well wishers as a line formed in front of her exhibit booth at Heli-Expo recently in Anaheim, Calif.
Rotor blades and turbine engines were supposed to be the showcase at the annual helicopter convention in Anaheim, Calif., the last week of February, so pilot James Costa wasn’t sure what to make of the crowd surrounding a woman in a leopard-print dress and knee-high boots.
She had long, blond hair who was signing glossy photos of herself as a line formed in front of her exhibit booth.
“I thought she was a stripper,” said Costa, a helicopter pilot from Tulare, Calif., before he found out that the woman was Lynn Tilton, owner of one of the nation’s largest helicopter makers.
“Very cool,” Costa said in disbelief. “You know, she brought that company back from the brink of destruction. She’s our rock star.”
The male-dominated industry has never seen anyone quite like Tilton, a New York financier who since 2000 quietly has been amassing an empire, acquiring or investing in more than 70 companies, with holdings totaling $8 billion.
“She doesn’t fit the usual pattern of an executive,” said Richard Aboulafia, an aerospace analyst for Teal Group. “but she has stayed in this game a lot longer than people thought.”
Part Warren Buffett and part Dolly Parton, the 49-year-old native of the Bronx borough of New York owns or has an equity stake in companies that are as eclectic as her wardrobe — and include brand names such as Arizona Ice Tea, English Leather cologne and Isotoner gloves.
Through her private-equity firm Patriarch Partners she also owns companies with some of the world’s most iconic names, including mapmaker Rand McNally, firetruck manufacturer American LaFrance and Italian factory-machine maker Ansaldo Sistemi Industriali.
In 2005, Tilton acquired Mesa, Ariz.-based MD Helicopters, a company founded by Howard Hughes.
Although diverse, the companies had a common trait before Tilton began investing in them. They produced well-known products but were about to go out of business.
“We turn dust to diamonds,” she said at the Anaheim Convention Center. “We buy what everybody else tosses away.”
Although some of her companies have had to lay off people because of the economy, they employ a total of 60,000 workers in the U.S. The return on her investments has averaged 25 percent annually, she said.
“Making money and making the world a better place don’t have to be mutually exclusive objectives,” she said.
Within the aviation industry, Tilton often has been described as the “dominatrix lady” because of her penchant for black-leather dresses and high-heel shoes.
“Well-behaved women seldom make history,” she said when asked about the initial impression some people might have. She has a bachelor’s degree from Yale and an MBA from Columbia.
She acknowledged that she has used the image to her advantage because many people upon first meeting her underestimate her abilities.
Before she began signing autographs, Tilton already was shaking up the helicopter convention. As four executives of the world’s largest helicopter makers, including Bell Helicopter Textron and Sikorsky Aircraft, finished up their presentations, Tilton, who was running late, walked up to the podium wearing that leopard-print dress.
“I don’t have pretty slides,” she said. “But I’m wearing a sexy dress. I hope this will do for some of you.”
Then, taking a more serious tone, Tilton said that the industry was “not a chosen one that defies gravity” and warned the audience that more improvements were needed, including making helicopters safer.
Tilton, who has three siblings, said she grew up in a dynamic family. Her father was a professor, and her mother later became publisher of a newspaper in Teaneck, N.J.
At 23, Tilton became a single parent, and for the next several years she “worked 100 hours a week on Wall Street” to support herself and her daughter. “Compared to then, this is nothing,” she said of her workload juggling more than 70 companies.
Tilton worked at top Wall Street companies including Morgan Stanley, Goldman Sachs and Merrill Lynch before becoming an expert on distressed loans. She later would obtain a patent for a method of turning around bad bank loans.
Tilton had enough money to retire comfortably at age 40 but decided to form her own company to “give back to the world.”
Her most challenging and endearing acquisition has been the helicopter company, one of the few that she personally has overseen and managed, Tilton said.
Because of parts problems, the company stopped producing helicopters in 2005, putting more than 250 jobs in jeopardy just before Tilton acquired an equity stake.
After going through three chief executives in one year, she personally took charge, handling the company’s reorganization while acquiring faltering businesses.
At the same time, she began to be the “face of the company” as she led the sales force and was able to regain the attention of its customers.
“She’s turned things around at MD, and I think that’s helped her gain some respect,” said Matthew Arnold, chief executive of Alabama’s Marshall County Economic Development Council, which has worked with Tilton on aviation matters.
The company expects to deliver 70 new helicopters this year, up from 52 last year.
“My ultimate legacy would be if I could keep people from going home and telling their families they’re unemployed,” Tilton said.
By Peter Pae Los Angeles Times. Source for this article is the Seattle Times Company.
InfoTube.net salutes Lynn Tilton and applaudes her effort to employ Americans and rescue US companies. If I can be of service to you Ms Tilton, please let me know. It would be an honor to work for you and I would do it for FREE. Tommi Crow
Christmas 2011 — Birth of a New Traditions the holidays approach, the giant Asian factories are kicking into high gear to provide Americans with monstrous piles of cheaply produced goods — merchandise that has been produced at the expense of American labor.
Make this year different. Make it the year that Americans give the gift of genuine concern for other Americans. There is no longer an excuse that, at gift giving time, nothing can be found that is produced by American hands. Yes there is!
It’s time to think outside the box, people. Who says a gift needs to fit in a shirt box, wrapped in Chinese produced wrapping paper?
Everyone — yes EVERYONE gets their hair cut. How about gift certificates from your local American hair salon or barber?
Gym membership? It’s appropriate for all ages who are thinking about some health improvement.
Who wouldn’t appreciate getting their car detailed? Small, American owned detail shops and car washes would love to sell you a gift certificate or a book of gift certificates.
Are you one of those extravagant givers who think nothing of plonking down the Benjamines on a Chinese made flat-screen? Perhaps that grateful gift receiver would like his driveway sealed, or lawn mowed for the summer, or driveway plowed all winter, or games at the local golf course.
There are a bazillion owner-run restaurants — all offering gift certificates. And, if your intended isn’t the fancy eatery sort, what about a half dozen breakfasts at the local breakfast joint. Remember, folks this isn’t about big National chains — this is about supporting your home town Americans with their financial lives on the line to keep their doors open.
How many people couldn’t use an oil change for their car, truck or motorcycle, done at a shop run by the American working guy?
Thinking about a heartfelt gift for mom? Mom would LOVE the services of a local cleaning lady for a day.
My computer could use a tune-up, and I KNOW I can find some young guy who is struggling to get his repair business up and running.
OK, you were looking for something more personal. Local crafts people spin their own wool and knit them into scarves. They make jewelry, and pottery and beautiful wooden boxes.
Plan your holiday outings at local, owner operated restaurants and leave your server a nice tip. And, how about going out to see a play or ballet at your hometown theatre.
Musicians need love too, so find a venue showcasing local bands.
Honestly, people, do you REALLY need to buy another ten thousand Chinese lights for the house? When you buy a five dollar string of light, about fifty cents stays in the community. If you have those kinds of bucks to burn, leave the mailman, trash guy or babysitter a nice BIG tip.
You see, Christmas is no longer about draining American pockets so that China can build another glittering city. Christmas is now about caring about US, encouraging American small businesses to keep plugging away to follow their dreams. And, when we care about other Americans, we care about our communities, and the benefits come back to us in ways we couldn’t imagine. THIS is the new American Christmas tradition.
Forward this to everyone on your mailing list — post it on Facebook and to discussion groups — throw up a post on Craigslist in the Rants and Raves section in your city — send it to the editor of your local paper and radio stations, and TV news departments. This is a revolution of caring about each other, and isn’t that what Christmas is about?
Thank you for visiting InfoTube.net and for supporting our American workers!!!
This photo, sent by an InfoTube customer, perfectly illustrates the reason that the United States is going down the drain.
Does NYC know that Pittsburgh, PA is a steel town? Does Mayor Bloomberg realize that tens of thousands of taxpayers in Pittsburgh are unemployed, many losing their homes? Does the New York City purchasing department know that Pennsylvania is located right down the road from the state of New York?
If “they were cheap” is the answer…I don’t care how cheap Indian man hole covers are. If they were FREE, US workers and taxpayers can’t afford them.
In addition…wasting oil to freight heavy man hole covers half way around the world is slap in the face to US families and business. The economy has been crippled by $4.00 a gallon gasoline and the billions of dollars that have been borrowed to fight wars for oil!
I say Enough! We believe that Americans have to start producing what America buys. It’s really that simple.
Thank you for visiting InfoTube.net. We hope you join in us in our fight to Save American Jobs!!! (Click here to read our David and Goliath success story).
Demand American products when you shop. Together, we can turn this around. Just look at what one, young woman did to turn the new bank charges for ATM’s around!!!!
What a ship….no wonder ‘Made in China ‘ is displacing North American made goods big time.
This monster transports goods across the Pacific in just 5 days!! This is one of three ships presently in service, with another two ships commissioned to be completed in 2012.
These ships were commissioned by Wal-Mart to get all their goods and stuff from China . They hold an incredible 15,000 containers and have a 207 foot deck beam!! The full crew is just 13 people on a ship longer than a US Aircraft Carrier (which has a crew of 5,000. With it’s 207′ beam it is too big to fit through the Panama or Suez Canals .
It is strictly transpacific. Cruise speed: 31 knots.
The goods arrive 4 days before the typical container ship (18-20 knots) on a China -to- California run. 91% of Walmart products are made in China . So this behemoth is hugely competitive even when carrying perishable goods.
The ship was built in five sections. The sections floated together and then welded.
The command bridge is higher than a 10-story building and has 11 cargo crane rigs that can operate simultaneously unloading the entire ship in less than two hours.
Cost for this container ship…$146,000,000
A recent documentary in late March, 2010 on the History Channel noted that all of these containers are shipped back to China , EMPTY.
Yep, that’s right. We send nothing back on these ships. What does that tell you about
the current financial state of this country? Let’s all just keep buying those imported goods (mostly, cheap nothing gadgets) until we run out of money, jobs, homes or all of the above.
Just our two cents here at InfoTube.net…. We support American workers, products and companies. We manufacture The InfoTube and InfoBox here in the USA, with materials Made in the USA…so don’t believe it can’t be done. We’re just a little company. If we can do, anyone can.
Please Buy Made in America, whenever possible!!! Our survival as a nation depends upon us turning this ship around!!!
Bank of America has come up with a new tool to deal with its glut of abandoned and foreclosed homes…. a Bulldozer.
Bank of America, the nations largest mortage servicer, plans to “donate” 100 blighted homes in Cleveland, OH and contribute cash toward their demolition. The bank has a similar plan for 100 homes in Detriot, 150 in Chicago, with 9 more cities to follow. Wells Fargo, Citigroup, JPMorgan Chase and Fannie Mae are also considering their own bulldozing programs.
Getting rid of repossesed homes is the biggest headache for US lenders. 1,679,125 homes ( 1 in every 77) are in some stage of foreclosure as of June. Lenders feel that no one will buy many of these homes and they”re trying to cut their losses. Bulldozing the problem away means the banks won’t owe property taxes to our floundering cities and it won’t have to pay for repairs, maintenance and upkeep on the property. In addition, there are some perks for giving away a house. The banks get a bunch of tax write-offs and best case… they may even get a pat on the back and some nice PR, too.
The idea of Bulldozing houses is nothing new. Although the banks are not blowing up homes for alturistic reasons…I think we can all agree that removing home inventory is good for all of us. In 2010, Warren Buffet advised that ”blow up a lot of houses” was a viable option and similar to ‘cash for clunkers’ auto program. I always thought bulldozing abandoned homes and returning the land to a raw state was a smarter solution than handing out money in the form of a homebuyer tax credit. The tax credit cost billions of dollars, put money into the hands of a few people blessed with good timing and did little to reduce inventory.
Bankers, why not take the “TNT” strategy one step further. Donate unwanted houses to local non-profits vs blowing them up? Make a call to Habitat for Humanity, for example? I can’t understand why Habitat is still building new homes, when we can’t get rid of the ones that are causing problems in our neighborhoods. Habitat needs to change their business model with the times and so do our lenders. Families, who are in dire need now, wait up to 6+ months for a new home to be built and the cost of building from scratch far exceeds the costs of rehabbing properties, in most cases.
Just my two cents….
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