Must Read: Supposedly-green California is falling short on its carbon reduction goals because not enough new housing is getting built, forcing people to drive further.
Stuck in Place: Any way that you look at it, Americans are staying in place longer and the decline in mobility is not a positive economic development.
Mystery Solved: Research from the Federal Reserve found that Millennials aren’t spending more mostly because they are poorer than previous generations.
LOL: Shared offices are such a productivity disaster that the most coveted spaces have become glorified phone booths called privacy pods.
Shots Fired: Former head of FHA and MBA David Stevens came out swinging against reverse mortgages last week, all but calling them a scam.
Taking Share: Non-bank firms now make up five of the ten largest mortgage lenders in the US and very little is known about their finances or ability to withstand a downturn. See Also: The retreat of small lenders is adding pressure on the housing market.
Trees Don’t Grow to the Sky: New York has a massive oversupply of luxury residential units and it’s causing prices to tumble.
Under the Sea: California’s ocean ranches could play a role in solving global food shortages but the red tape involved is thick.
Strange Bedfellows: Environmentalists and the timber industry, after long butting heads, increasingly agree that cutting trees to thin forests is vital to reducing fire danger.
Chart of the Day
As awful as Bitcoin has been since its hitting its peak last year, the Venezuelan Bolivar has been substantially worse.
Blurred Lines: A blind man is suing Playboy claiming that its website isn’t friendly to the visually impaired.
Deck the Halls: A mall Santa Claus was arrested and taken away in handcuffs when it was discovered that he was a sex offender because Florida. (h/t Steve Sims)
Trade War: Adult website YouPorn has banned all Starbucks products from its offices after the global coffee chain announced that it will block access to porn sites from its in-store Wi-Fi hot spots.
Landmark Links – A candid look at the economy, real estate, and other things sometimes related.
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