Northwest Indiana Discussion

I have seen some horrible things in my 59 years.

There is a horror story ongoing and the minds of the people are being misdirected on trivial issues.

That horror story has been ongoing in the inner city for a long time and it has now spread nation wide and the story is not front page and it's not funny!

CONSUMER FINANCE: More People Choosing To Rent, Not Buy



By Amy Hoak
A DOW JONES COLUMN


The share of Americans who own their home dropped again last year, but that decline is not being driven by foreclosures pushing people out of the real-estate market. Instead, more people appear to be rejecting the idea of a home as an investment.

About 66.5% of U.S. households owned their home at the end of 2010, down from 67.2% in 2009. The rate was 69% at the end of 2005, according to the U.S. Census Bureau.

The main driver of last year's drop was the substantial rise in renters. The number of homeowner households dropped by just 30,000 in the fourth quarter last year compared with a year earlier, but 1.1 million renter households were added in that time period.

"We're keeping steady on the total number of homeowners at 75 million, but all of the [household] additions are renters so the ratio goes down," said David Crowe, chief economist for the National Association of Home Builders. It is the younger demographics where homeownership rates are falling most, while the rate among those ages 55 and older have been more stable, he pointed out.

Popular reasons for why people are choosing to rent rather than buy have been widely reported: Some Americans remain concerned about home prices falling more, while others remain uncertain about the stability of the job they have. And for some, tighter credit standards for mortgage loans have been a factor.

But there might be another trend here, one that could have legs even after the economy recovers and housing markets are looking stable again: A return to making purchase decisions based on what is appropriate for the individual's situation--not based on an expected return on investment.

"Traditionally, housing choices in the U.S. have been made based on need--what is the appropriate housing for your lifestyle," said Greg Willett, vice president of research at MPF Research, a provider of market intelligence and insights for the multifamily housing industry. "During the boom period... [people] got off track."

Interestingly, this increased desire to rent a home instead of buying one comes at a time when homeownership has become more affordable.

According to the real-estate website Trulia.com, it is more affordable to buy than rent a two-bedroom home in 72% of the country's 50 largest cities. And the National Association of Realtors reports that affordability of buying a home is hovering around historic highs dating back to 1970.

According to some, it isn't that homeownership isn't still a goal for many Americans. They just haven't been in as much of a hurry to achieve that goal.

According to a National Association of Realtors survey, released in January, 95% of homeowners and 72% of renters believe that over a period of several years it still makes more sense to own a home. Sixty-three percent of renters say they are at least somewhat likely to purchase a home at some point in the future, according to the poll of 3,793 adults.


Rise In Rent


But for now, as more Americans become renters, the cost of renting is on the rise. MPF expects that rents for apartments will climb a national average of 5.1% this year.

It is all a matter of supply and demand.

Last year, demand rose more than the apartment industry expected. Apartment rental vacancy was 6.5% in the fourth quarter of last year, down from 8.2% a year ago, according to MPF.

"Demand came out really, really strong and much stronger than the jobs market would have suggested," Willett said. Traditionally, one apartment gets absorbed from the inventory for every six or seven jobs created; last year, an apartment was absorbed for every three or four jobs, he said.

Because there isn't a growing supply to meet the growing demand, landlords can charge more in rent.

"Rising apartment demand reflects a drop in demand for homeownership in today's marketplace," said Mark Obrinsky, chief economist for the National Multi Housing Council, in a news release. "This growing demand against the backdrop of the lowest apartment starts in 40 years--barely enough to offset the units lost to demolition and obsolescence--will result in further tightening in the apartment sector in the near term."

The above vacancy figures are regarding apartment units, but single-family homes also make up a good portion of the country's rental stock.

Census vacancy figures consider all rentals--including single-family homes and apartments--and it also showed a substantial decline in vacancy: At the end of the fourth quarter, the rental vacancy rate was 9.4% for all rentals, down from 10.7% a year before.

(Amy Hoak is a writer for MarketWatch. She can be reached at 415-439-6400 or by email at AskNewswires@dowjones.com.)

Congratulations...you now have 12 pages of the same rehashed crap.

Give it a rest already...We know, you can't BUY a house, and you can't BUY a car...so rent your a s s off.

Was that long enough for you ?

Please watch and share

http://www.youtube.com/watch?v=tGk5ioEXlIM

This paper addresses the issue of the impact of the siting of nuclear
facilities on the adjacent communities. It reviews previous studies on the issue
and then empirically examines the impacts of seven major nuclear facilities
located throughout the USA on the surrounding communities. The analysis
focuses on the effects on local property values, economic growth, tax revenues,
public services, community development, jobs and employment, and schools.
Using published data, economic and statistical analyses, literature reviews and
interviews, it finds that the impacts of these facilities have been largely
positive. The findings are placed in perspective, caveats are noted concerning
the generalisation of the conclusions derived and recommendations for required
further research are provided.

Keywords: nuclear facilities impact; property values; nuclear energy benefits;
local community tax revenues; nuclear facilities jobs.
Reference to this paper should be made as follows: Bezdek, R.H. and
Wendling, R.M. (2006) ‘The impacts of nuclear facilities on property values
and other factors in the surrounding communities’, Int. J. Nuclear Governance,
Economy and Ecology, Vol. 1, No. 1, pp.122–144.


However, we caution against making valuation decisions relating to any particular
property’s or groups of properties’ market values on the basis of the research summarised
here. This is not the intent, and individual property conclusions cannot and should not be
drawn from this paper. Rather, we present findings that indicate that there are market
experiences that are known and that should be considered.

http://www.misi-net.com/publications/IJNGEE-V1N1-06.pdf


_____________________________________________________

Guess what Sherlock in light of what is ongoing and you live within 75 miles of 6 nuclear plants

http://www.chicagotribune.com/news/loca ... 3601.story

http://www.nrc.gov/info-finder/reactor/cook2.html

50 miles away!

Nuclear power stations
Plant Location Coords. Type Owner Links
Braidwood Nuclear Generating Station Braidwood, Illinois, Will County, Illinois 41°14′38″N 88°13′44″W / 41.244°N 88.229°W / 41.244; -88.229 2 units, 2,360 MW. Nuclear PWR Exelon [1]
Byron Nuclear Generating Station Ogle County, Illinois 42°04′26″N 89°16′55″W / 42.074°N 89.282°W / 42.074; -89.282 2 units, 2,353 MW. Nuclear PWR Exelon [2]
Clinton Nuclear Generating Station Clinton, Illinois, De Witt County, Illinois 40°10′19″N 88°50′06″W / 40.172°N 88.835°W / 40.172; -88.835 1 unit, 1,043 MW. Nuclear BWR AmerGen
(Exelon subsidiary) [3]
Dresden Nuclear Power Plant Morris, Illinois, Grundy County, Illinois 41°23′20″N 88°16′08″W / 41.389°N 88.269°W / 41.389; -88.269 2 units, 1,824 MW. Nuclear BWR Exelon [4]
LaSalle County Nuclear Generating Station La Salle County, Illinois 41°14′42″N 88°40′08″W / 41.245°N 88.669°W / 41.245; -88.669 2 units, 2,288 MW. Nuclear BWR Exelon [5]
Quad Cities Nuclear Generating Station Cordova, Illinois 41°43′34″N 90°18′36″W / 41.726°N 90.310°W / 41.726; -90.310 2 units, 1,824 MW. Nuclear BWR Exelon







You say what !

Your property value is steady declining !

Insurance industry likely spared Japan nuclear threat

But most experts agree the growing threat of disaster from damaged nuclear reactors is unlikely to have much effect on the mainstream insurance business because of the way insurance for the nuclear power industry is structured.

Insurance policies often exclude certain factors from coverage, and that will probably occur in this case -- exclusions on earthquake damage in the property insurance for reactors and exclusions on nuclear damage for homeowners' insurance policies.

http://news.yahoo.com/s/nm/20110313/bs_ ... insurers_9

______________________________________________ The Banking Industry IS REDLINING YOUR PROPERTY AS YOU SLEEP!

Yes Tommy if a terrorist dive bombs into a plant it will be considered a act of war and the banks lose and the renter with the option to buy loses also.



I don't know which is worse having property close to Gary or the fallout zone !

Lets apply some common sense. Read this into the thought processes of the world banking community when they start to absorb the tremendous loses from this quake and start to rethink it's policies and procedures to stave off any such future catastrophic occurrences.

Home owners in the fallout foot print of a nuclear power plant or oil refinery /chemical company are in for a rude awakening.

http://en.wikipedia.org/wiki/PEPCON_disaster

A key element of emergency planning is evacuation planning. Originally a requirement of
the nuclear power industry, evacuation planning has been extended to other venues: This
includes chemical plants (especially after the incident in Bhopal, India) and military
installations (particularly where chemical or biological weapons are to be destroyed). Now,
in what is widely regarded as a changed world with much greater emphasis on emergency
planning, evacuation planning is more important than ever.








http://www.lenntech.com/environmental-d ... asters.htm#1._Bhopal:_the_Union_Carbide_gas_leak
http://www.lenntech.com/environmental-d ... e_gas_leak
http://www.lenntech.com/environmental-d ... r_disaster

Associated Press
Quinn to seek higher fees on nuclear generators
Associated Press, 03.17.11, 07:16 PM EDT

WASHINGTON -- Calling Japan's nuclear crisis a "wake-up call," Illinois Gov. Pat Quinn said Thursday he would seek higher fees on power generator Exelon Corp. and review safety measures surrounding the state's nuclear power plants.

Quinn spoke to reporters in Washington after meeting with Illinois' congressional delegation and said he was troubled by unfolding events in Japan, where emergency workers have tried to cool an overheated nuclear complex damaged by a deadly earthquake and tsunami. The governor said he met Wednesday with state emergency management officials to discuss the safety of the state's 11 nuclear power plants

"I just think now's the time, given this terrible catastrophe, that our state, the leading nuclear state in the union, have a full-scale review of everything," Quinn said.

Illinois has more nuclear power plants than any other state in the U.S. and generates about half of its power from nuclear energy. Quinn noted that nuclear plants in Joliet and Dresden shared similar designs to the overheated Fukushima Dai-chi nuclear complex in Japan.

Chicago-based Exelon ( EXC - news - people ) is a major operator of nuclear power plants and has marketed wind energy in several states. Quinn, a Democrat, said he would seek the General Assembly's approval to raise Exelon's fees to ensure the state's emergency management agency has what it needs to ensure safety at the plants.


"These events in Japan are a wake-up call," said Quinn, adding, "We need to take a look at this. If we have to get even more of a fee to make sure we have the best nuclear safety in the world, so be it."

Exelon spokesman Craig Nesbit said the company's plants "are safe, but we appreciate the governor's concerns about the Japan disaster and we'll be discussing the issue with his administration."

____________________________________________________________


Many of us have children who could have designed better ways of cooling those reactors in a disaster. Any moron could have designed all sorts of elevated cooling towers ponds wind mill ocean pumps or designed them inside man made lead lined ponds with manual & electric flood valves

Just when you thought it was getting better


It’s clear that nuclear power is not a safe energy option. It certainly is not the “clean” or “green” power supply that many of its supporters would have us believe. The nuclear fallout in Japan, which will last for thousands of years, proves this

As much as the BP PLC /quotes/comstock/13*!bp/quotes/nls/bp (BP 44.67, -0.01, -0.02%) oil spill in the Gulf of Mexico did to bolster arguments against fossil fuels, Japan’s nuclear disaster should instigate total nuclear disarmament — of weapons and power plants. We are seeing that they are one and the same; people die in masses from exposure, whether aimed or accidental.

As it stands, we in the U.S. produces some 20% of our power from nuclear sources. Worldwide, nuclear power accounts for about 14% of total energy, and 31 countries operate nuclear power plants. The biggest nuclear consumer is France, which uses nuclear energy as its primary power source, the only nation in the world to do so. It derives more than 75% of its electricity from nuclear energy.

The next five biggest users of nuclear power are Slovakia, at 53.5%; Belgium, at 51.7%; Ukraine, at 48.6%; Armenia, at 45%; and Hungary, at 43%. In all, 20 countries obtain more than 20% of their electricity from nuclear power plants.

An international nuclear caucus should be held on dismantling plants and replacing this “killer” power source with sustainable alternatives.

Yukiya Amano, the director general of the International Atomic Energy Agency, said earlier this week he would travel to Japan from IAEA headquarters in Vienna and report back to “see how best the IAEA can help.”

“My heart goes out to the people of my home country as they rise to the challenge of this immense tragedy,” Amano said.

What will stop more people from dying from radiation is action. And the biggest action of all we can take is to embark on a plan that will rid the world of nukes.

http://www.marketwatch.com/story/nuclea ... 2011-03-18

Chancellor Angela Merkel said on Thursday she aimed to accelerate Germany's move away from nuclear energy after the crisis in Japan and dismissed accusations she may have closed seven atomic plants illegally.

Merkel this week backtracked on an unpopular decision to extend the life of aging nuclear stations, drawing scorn from the opposition which says she is merely trying to avoid a major electoral setback in regional polls this month.

Addressing a rowdy session of parliament, Merkel said nuclear technology remained a transitional source of affordable power while renewable energy sources were developed further.

Under a "moratorium," the government ordered by decree on Tuesday the closure of all nuclear plants which began operating before 1980 for at least three months, so that they could undergo safety checks.

"We will use the moratorium period, which we deliberately set to be short and ambitious, to drive the change in energy policy and accelerate it wherever possible, as we want to reach the age of renewable energy as quickly as possible," she said.

Imposing the moratorium, Merkel suspended a government decision taken only last autumn to prolong the life of Germany's 17 nuclear power plants beyond their original closure dates.

That sudden decision drew criticism from home and abroad.

The former president of the Constitutional Court, Hans-Juergen Papier, pointed out that Germany's nuclear industry was covered by law. "Constitutionally it goes without saying that the federal government cannot order the provisional repeal of a law," he told Handelsblatt newspaper.

Asked if the government's move had been unconstitutional, he said: "Yes, that's how it is."

Amid opposition heckling, Merkel said repeatedly that the catastrophe in Japan, where an earthquake and tsunami provoked a crisis at the Fukushima nuclear complex, meant Germany faced a new situation. Everything had been done legally, she said.

"The nuclear law provides precisely for this: shutting down a plant temporarily until the authorities have achieved clarity about a new situation," she said.

Merkel is under fire even from her own ranks. Speaker of parliament Norbert Lammert, a member of her conservative CDU party, questioned why the Bundestag had not been consulted.

CZECHS PUZZLED

An official in the neighboring Czech Republic also questioned how major decisions could be made when Japanese engineers were still battling to avoid a major nuclear accident.

"We have time to analyze what we can learn from Fukushima," said Dana Drabova, who heads the Czech nuclear safety office.


http://www.reuters.com/article/2011/03/ ... ZO20110317

Actually, the nuclear reactor withstood the earthquake. The problem is the cooling system requires electricity, and the power is out. Now if designers could fix that, that would be a good thing.