Tag Archives: State Budgets

Chris Christie on 60 Minutes

Posted on December 21, 2010 by HS

60 Minutes did a fantastic story on the crisis that many states are facing (or about to). With $1 Trillion in unfunded pension liabilities, States will have no choice but to layoff thousands of workers, eliminate programs, and cut benefits.

California, Illinois, and New Jersey are among the worst. Continue reading →

Posted in Home Economics, Newsletter | Tagged Budget Deficits, california, Illinois, IOUs, New Jersey, State Budgets | 1 Comment

Commercial Real Estate Prices Tank; Late Mortgage Payments Spike; Half of Shanghai, Beijing Flats Are Vacant; Pension Fraud by New Jersey Cited by SEC

Posted on August 22, 2010 by Mish

About 51 percent of Shanghai apartments, 66 percent of Beijing flats and more than 70 percent of units in Hainan are vacant, according to the survey, based on counting the number of apartments observed to have no lights on at night. It was conducted on more than 1,000 real-estate projects and was organized by news website Sina.com., according to the report. Continue reading →

Posted in Banking and Finance, Best Of The Storm, Building & Remodeling, Commercial Real Estate, Fresh Perspectives, Home Economics, Investing, Real Estate Data, Social Mood Swings | Tagged China, City Budgets, McMansions, Mortgage Delinquency Rates, Public Pensions, State Budgets, Unemployment, Unions, Vacant Housing | Leave a comment

The Pension Problem

Posted on August 7, 2010 by John Mauldin

I would seriously consider checking how your state and locality are funded. You might not want to retire to a place that is on a collision course with serious pain. Just a thought. Continue reading →

Posted in Banking and Finance, Best Of The Storm, Financial News, Fresh Perspectives, Home Economics | Tagged China, City Budgets, County Budgets, FHA Short Refi, Pensions, Public Employees, State Budgets, Taxes, Unions | 1 Comment

California: State of Emergency 2010, Part 1

Posted on January 8, 2010 by Greg Fielding

California’s budget is an absolute train wreck. 2009 was bad. 2010 will be worse. From The Sacramento Bee Schwarzenegger declares budget emergency, proposes deep cuts Gov. Arnold Schwarzenegger unveiled an $82.9 billion state spending plan today that calls for no … Continue reading →

Tagged California Budget, State Budgets, Taxes | Comments Off

8 Keys to the Housing Market in 2010

Posted on January 5, 2010 by Greg Fielding

Here are 8 keys to the housing market in 2010. 1. Shadow Inventory of Foreclosures: Will it be a tsunami or a trickle? Beginning with the first of the moratoria in August of 2008, banks simply have not been foreclosing … Continue reading →

Posted in Best Of The Storm, Home Economics, Social Mood Swings | Tagged Bailouts, Bank Failures, Bernanke, City Budgets, Consumer Spending, County Budgets, Credit Card Debt, Credit Crunch, Deflation, Depression, Extend and Pretend, Forecasts, Foreclosures, Frugality, HAMP, Holidays, Housing Bubble, Interest Rates, Jobless Recovery, Loan Modifications, Making Home Affordable, Moratoriums, NAR, negative equity, Obama, Pension Funds, Recession, Refinancing, REO, Shadow Inventory, State Budgets, Stimulus, Stock Market, strategic default, Strategic Defaults, Tax Credits, Taxes, Violence, Walk Away, Walking Away | Comments Off