Free Republic

Over a year ago, in addition to the money-laundering aspect (confirmed previously) and the REO-To-Rent scramble by PE firms and hedge funds (which is now over as PE become active sellers of apartment rental properties), we highlighted the third implicit subsidy to the housing non-recovery: Foreclosure stuffing. We explained this scheme by banks to limit the amount of available for sale inventory as follows: "since the properties not entering the foreclosure pipeline are effectively kept out of inventory, even shadow inventory, and thus the distressed end market, the monthly drop in foreclosures has acted as a form of subsidy to...

Pima County officials want to install 20 speed enforcement cameras to slow traffic, while neighboring Pinal County is pulling them because the new sheriff believes they are primarily used to make money. Pima County supervisors are expected to vote next week on a proposal to deploy 10 fixed and 10 mobile speed enforcement cameras. They would supplement cameras already used by the city of Tucson ... ``I am against it, not only because I'm a strict constitutionalist, but I believe that the main purpose, is it's driven to create money for the government...'' Babeu said ... ``It's corrupting law enforcement...

Anna Phelan and Emily Adams wanted to end their four years at Bethesda-Chevy Chase High School with a memorable backyard graduation party. There was a blues band, a moon bounce, a popcorn machine and a pit for making s'mores. Guests feasted on hot dogs, hamburgers and bratwurst. There was plenty of ginger ale, cranberry juice and root beer to go around. What there wasn't plenty of was alcohol. "It was pretty low-key, and it was just sweet," Margaret Engel Adams, Emily's mother, said of the party for about 80 friends and relatives. "It was just pretty much out of Norman...