Anonymous ID: 51cedc May 19, 2019, 8:05 p.m. No.6540299   🗄️.is 🔗kun   >>0388 >>0510 >>0667 >>0748 >>0842

California's Housing Bubble's So Bad, 100s Forced To Live On Boats

 

California's housing affordability crisis is getting worse. Affordability in San Francisco is now at 10-year lows, and only one in five households can afford to purchase a median-priced single-family home in the Bay Area. The crisis has driven many people onto the water, living on makeshift boats, outside marinas, and wealthy communities.

 

The floating homeless population in wealthy Marin County, just across the Golden Gate Strait from San Francisco, has doubled in the last five years to over 100. The community of 200 barges, sailboats, and other vessels comprise of people who are employed but can't afford to live on land, jobless folks, the homeless, and some people who are mentally ill. Boat life for them isn't easy:

 

"It's not a free ride. It's a lot of effort to be out here," said Kristina Weber, who moved onto a 54-foot vessel she purchased for $15,000 because she couldn't afford to rent in Sausalito.

Wealthy people on land warn that the floating homeless community is devastating for their community. Weber and her neighbors told The Wall Street Journal these people have brought crime and poor sanitation to their area.

 

Residents complain that boats sometimes break away from anchor lines in storms, drift into waterfront homes, causing tens of thousands of dollars in damage.

 

Local authorities have called these seafaring homeless "anchor-outs," because they permanently anchor their vessels outside marinas and shore communities that is a direct violation of the law. Floating homeless communities have also sprung up in overpriced coastal regions from Fort Lauderdale, Fla., to Honolulu, Hawaii.

Law enforcement removed 40 boats along the Oakland waterfront in 2013 and nine were taken away last month, said Brock de Lappe, harbor master for five Oakland marinas.

 

"They are taking over a public resource," de Lappe said.

 

Beth Pollard, executive director of the Richardson's Bay Regional Agency, said many of these floating homeless communities started showing up in the waters between the Marin County cities of Sausalito and Belvedere in the last several years.

 

Pollard and her organization aren't pushing these folks away from the area, but instead helping them secure their boats to more stable anchors.

 

Jim Robertson, a homeowner in Marin, said these boats have collided with his shore home 16 times over the last two decades, including one time that cost $20,000 to repair his dock.

 

"Nobody is looking for special treatment, just the enforcement of laws on the books," Robertson said.

His neighbor, Connie Strycker, said the homeless would paddle ashore in dinghies asking for food and water. "They're all filthy, because they have no place to bathe," said the 86-year-old.Sausalito Police Chief John Rohrbacher said many of the homeless are inexperienced on the water.

 

Weber said living on the water is very difficult. The 40-year-old uses a dinghy to travel to shore for supplies.

 

Greg Baker, who lives alone in a 41-foot sailboat, has been on the water longer than anyone in the Marin area. The former tugboat captain said there are too many homeless people on the bay operating vessels with no experience at all.

Baker is leading an effort through a community association to educate the homeless on how to become better operators on the water.

 

He said that moving isn't an option for him.

 

"There are two ways I'm leaving: in a black body bag or handcuffs," said the 80-year-old.

 

While many San Franciscans cannot afford overpriced homes, this latest trend of housing communities springing up on the water with ragtag vessels is a sign of the times: the housing affordability crisis is progressively getting worse.

https://www.zerohedge.com/news/2019-05-18/californias-housing-affordability-crisis-so-bad-some-people-live-ragtag-boats

Anonymous ID: 51cedc May 19, 2019, 8:24 p.m. No.6540414   🗄️.is 🔗kun

>>6540388

yes I laughed at that one before posted. Newsflash ya don't have to live in sausalito!

But they keep trying to justify that type of flawed reasoning. What it doesn't mention is the hundreds/thousands of people who live in motor-homes that line the streets around the tech companies who have a decent job and a living wage that still cannot afford a place to live. Glad I left that place year's ago.

Anonymous ID: 51cedc May 19, 2019, 8:40 p.m. No.6540507   🗄️.is 🔗kun

Asian shares steady after steep losses; Saudi comments lift oil

 

SHANGHAI (Reuters) - Share markets in Asia got off to a steady start on Monday as investors tried to catch their breath following another week of escalating trade tensions between the United States and China.

 

In early trade, MSCI’s broadest index of Asia-Pacific shares outside Japan tacked on 0.6% after a steep 3% loss the previous week. U.S. S&P 500 e-mini futures also turned higher, rising 0.5% following losses on Wall Street on Friday.

 

The Dow Jones Industrial Average fell 0.38%, the S&P 500 lost 0.58% and the Nasdaq Composite dropped 1.04%.

 

Australian shares jumped 1.4% after the center-right Liberal National Coalition pulled off a shock win in federal elections, beating the left-wing Labor Party.

 

Japan’s Nikkei stock index added 0.4%, after data showed growth in the world’s third-biggest economy unexpectedly accelerated in the first quarter.

 

The modest gains on Monday came even as financial markets remained on edge over the intensifying Sino-U.S. trade war, with the Trump administration last week adding Huawei Technologies Co Ltd to a trade blacklist.

 

The repercussions of that move were evident as Alphabet Inc’s Google suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing.

 

Noting the festering trade war, continued uncertainty over Brexit and rising tensions between the United States and Iran, McKenna said investors are currently “headline trading.”

thank you High Frequency Trading-get used to this whipsaw like we had on friday.

 

“(It’s) too soon to see the economic consequences of the battle escalating. And so belief can be suspended until that time,” he said.

 

Oil markets, however, saw some active trade early on after Saudi Arabia’s energy minister said on Sunday that there was consensus among the members of the Organization of the Petroleum Exporting Countries to maintain production cuts to “gently” reduce inventories.

See Cap#3 and be prepared to pay moar for gasoline starting tomorrow.

 

Both U.S. crude and Brent crude jumped more than 1% following the minister’s comments, with West Texas Intermediate fetching $63.51 a barrel and Brent crude at $73.05 per barrel.

 

In currency markets, China’s offshore yuan rebounded after touching its weakest level against the dollar since November on Friday. It was last trading at 6.9280 per dollar.

 

In onshore trading on Friday, the yuan weakened past the psychologically important 6.9 per dollar level to end at its softest level in 19 weeks.

However, sources say the country’s central bank is expected to use foreign exchange intervention and monetary policy tools to stop it weakening past the 7-per-dollar level in the near term.

tick,tock

 

On Monday, the dollar added 0.2% against the yen to 110.30, and the euro was up 0.1% at $1.1165.

 

The dollar index, which tracks the greenback against a basket of six major rivals, was down a touch at 97.980.

 

The yield on benchmark 10-year Treasury notes rose to 2.4068% compared with a U.S. close of 2.393% on Friday, while the two-year yield touched 2.2187%, up from Friday’s U.S. close of 2.202%.

 

Spot gold was 0.1% higher at $1,278.42 per ounce.

https://www.reuters.com/article/us-global-markets/asian-shares-steady-after-steep-losses-saudi-comments-lift-oil-idUSKCN1SQ02O

https://www.cnbc.com/asia-markets/

 

https://www.dailyfx.com/crude-oil