Looks Like The ‘Smart Money’ Is Already Exiting The Housing Trade

Last September, one of the original institutional investors in the housing-to-rent strategy, multi-billion hedge fund Och-Ziff called it quits on the landlord business. The reason: “the New York-based hedge fund is looking to sell now because the returns it is generating from rental income are less than expected and it is looking to take advantage of a recent rebound in home prices in northern California.” As a reminder, the REO-to-Rental subsidized investment program, which led to an epic surge in demand for multi-family housing, i.e., rental, units was, together with offshore investors parking their cash in the US for safekeeping (taking advantage of the NAR’s anti-money laundering check exemptions) and the big banks Foreclosure Stuffing, the key reason for the recent, stimulus-fueled and quite transitory bounce in house prices in assorted markets.

Read more: http://tinyurl.com/l2rbga9

Public perception differs with crime

Statistics show overall local crime is declining, but that’s not how many Lethbridge residents see it.

About 41 per cent of residents surveyed believe crime has increased in the past year, according to an April 16 survey of community leaders. After almost 200 people were invited to a town hall meeting on behalf of the Lethbridge Regional Police Service last month, about 68 people attended to offer their feedback on community policing. Those survey results were publicly released Wednesday.

Read more: http://tinyurl.com/pmpzetr

Does OPEC still matter?

While officials from members of the Organization of Petroleum Exporting Countries (OPEC) are set to meet in the Austrian capital of Vienna on Friday to discuss its production policy, some economists are questioning whether the cartel still carries sway in determining the global price of oil.

Read more: http://tinyurl.com/lwm2pga