Thursday, February 23, 2017

Failing Infrastructure Example

How sad is this?  The Pfeiffer Canyon Bridge in Big Sur has been red tagged as being beyond repair.  California is already a third world country.  CalTrans says 6 months to replace.  Let's start a clock shall we? 

And before you worry... No not 'that' Big Sur Bridge.  The Bixby Creek Bridge was built in a different time.

Misallocated Infrastructure Spending

LA Times Article this week: 

'This is the worst I have seen': California's roads are in dire shape, says former Caltrans director

  Kempton, 69, who is retiring as executive director of the advocacy group Transportation California, said he is “frustrated and disappointed” that California has failed for decades to agree on a plan to pay for a $136-billion backlog of repairs on state highways and local roads. Gov. Jerry Brown and legislative leaders said they will take another crack at reaching a deal during the next two months, which Kempton said is welcome news. “This is the worst I have seen,” he said of street conditions in California.
Kempton, a former Caltrans director, thinks the seriousness of the issue has sunk in with state leaders and residents to the point where action might finally be taken this year. He said he is encouraged by recent comments by Brown and lawmakers who set an April 6 deadline for reaching a transportation funding deal.

But Kempton said reaching a deal that includes raising taxes and fees will not be easy, even though the situation is dire.“The transportation system is in bad shape,” he said. “We have just underinvested in our transportation infrastructure for decades, and it’s coming home to roost. Particularly after the recent storms, our roads are in very, very bad shape.”

 See if you can identify the blind spot.  Hint: He's seen in the 12 year old photo riding in a new train service. 

Wednesday, February 22, 2017

Location Location Re-Location

Image result for buyer seller fight 

The old adage of real estate is getting a slight twist.  At least for the vast majority who live in the houses they buy.  A new Zillow report discusses the geographic imbalances of relative buyer/seller advantage.

In some markets, buyers are finding themselves in strong bargaining positions relative to sellers, confidently paying less than the asking price on a home they had months to consider. In other markets, it’s the sellers ending their days not lamenting the one to come, selling their homes within days after bidding wars pad their pockets more than expected.

Link: Best Areas...

Tuesday, February 21, 2017

Debt Is Not Just Mortgages Anymore

Calculated risk posted the following Mortgage debt to GDP chart:

Here is total debt to GDP debt to GDP chart:
Not as reassuring. 

Monday, February 20, 2017

NY to Fl and CA to TX, God help us all

• New York had 69,289 migrants to Florida 

• California had 65,546 migrants to Texas

 Again from the latest American Community Survey.

If we can't vote them out, we'll migrate them out. 

Image result for californian in texas