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Negative equity spreads across the USA

There have been some shocking housing figures coming out of the US for a while but I have just read something that took my breath away.23% (11 million) of all properties with mortgages are in negative equity at present and this rises to 28% if you include people with less than 5% equity in their houses.Those numbers are staggering.  I well remember being in negative equity during the early nineties and it was an incredibly gloomy period for my wife...

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Street Fair in Kathu

Kathu district covers a large part of Phuket from Patong to the edges of Phuket Town. It's an old area of Phuket with lots of history, where the Phuket Vegetarian Festival originated and was the center of the tin mining industry in Phuket for 200 years. And it's where we live, as do thousands of other people. There are older streets and lots of new housing in Kathu. Lots of shops, schools, hairdressers, temples and the odd aircon dealer and vet. You know, normal everyday life. From Patong to...

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The Chinese are coming

During the early twentieth century, the Chinese were one of the largest immigrant groups in Mexico, particularly in the North, where they had great success as merchants. Unfortunately, their accomplishment was followed by an anti-Chinese movement, which included racist legislation and even some incidents of riots, desecration of property, and jailing of Chinese for no reason. This monolithic timepiece, on Calle Bucareli in the Colonia Juarez in Mexico City, is known as “the Chinese...

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Ouch!

On a macro level, the housing market in fortress America continues to absolutely crater, even/especially at the high end. The banks, some more than others, are taking an absolute beating.Citibank owns that first house. It's in Bel Air. It used to be owned by Nick Cage. You think he could have kept up the payments with all the work he does, but maybe it just doesn't make economic sense (especially when the IRS is after you for back taxes). It was once on the market for $35 million. ...

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