More Hope & Change: Foreclosures moving to mid-to-high end

“We are seeing signs that the worst may be over in the hard-hit entry-level markets, while problems are slowly spreading to more expensive neighborhoods. We’re also seeing some lenders become more accommodating to work-outs or short sales, while others appear to be getting stricter about delinquencies. It’s very noisy out there,” [John Walsh, DataQuick president] said.

The state’s most affordable sub-markets, which represent 25 percent of the state’s housing stock, accounted for 47.5 percent of all default activity a year ago. In first-quarter 2010 that fell to 40.9 percent.California’s mid- to high-end housing markets were more likely to have seen a rise in mortgage defaults last quarter, though the concentration of default activity – measured by defaults per 1,000 homes – remained relatively low in those areas.

For example, zip codes statewide with median home sale prices of $500,000-plus saw mortgage defaults buck the overall trend and rise 1.5 percent last quarter compared with the prior quarter, while year-over-year the decline was 19 percent versus a 40.2 percent marketwide annual decrease. Collectively, these zips saw 4.5 default notices filed for every 1,000 homes in the community, compared with the overall market's rate of 9.3 NODs for every 1,000 homes statewide.

In zip codes with medians below $500,000, mortgage default filings fell 5.8 percent from the prior quarter and declined nearly 43 percent from a year earlier. However, collectively these zips saw 10.5 NODs filed for every 1,000 homes – more than double the default rate for the zips with $500,000-plus medians.

via Calculated Risk: DataQuick: Foreclosures moving to mid-to-high end.

Four Door Fiat 500 Coming to The US

Fiat is bringing a four-door version of the 500 small car to North America, three company sources say. The vehicle will appear in Europe at the end of 2011. Timing for the United States is still uncertain. Chrysler Group has not decided how many of its dealerships will sell Fiats.

Chrysler also may bring a subcompact sedan to North America from a factory Fiat owns in Serbia, sources say.

On Wednesday, Sergio Marchionne, CEO of Chrysler and Fiat, and other executives will spell out Fiat's five-year plan here. The arrival in North America of the four-door 500 may or may not be announced, sources say, but it has been approved. The four-door version of the Fiat 500 is code-named L0. The vehicle would be classified as a small minivan in Europe because it has a hatch in the rear and a high roof. In Europe it competes with other small minivans, such as the Opel Meriva. Fiat will build the vehicle for export at its Mirafiori plant in Turin on a longer and wider platform than the two-door 500. North American versions of the two-door 500 will be built at Chrysler's factory in Toluca, Mexico.

via 4-door Fiat coming here | The Car Tech blog – CNET Reviews.

Detroits Next Silver Bullet Idea: Aerotropolis

Detroit and Michigan are always looking for the ‘Silver Bullet’ that will cure our economic woes. Urban homesteading, movies, green energy, urban farming. The list goes on and on.

This idea is not really a bad idea, and actually makes sense. But I think this state and city of Detroit shouldn’t be in the business of picking winners and losers. If the state and city would create a business friendly environment, we would see strong economic growth and an Aerotropolis.

Too Much Information

A site update:

If you have been a frequent visitor to MCT, you might notice that things look a lot different around here. I kinda like the new look.

The reason for the change is, my WordPress (the system I use to run this web site) data base is toast.  It had been hanging on by a thread for months due to a spam attack back in September. The site has not run well since then.

The big problem is all my old posts are not available at this time. I do regularly back things up and have a copy of the entire site on a ZIP file on my hard drive (corrupt DB and all), but I can’t access the data base where all the posts reside.

I will try to retrieve the old posts over the next few days. If some reader has an idea on how to do this I would be very grateful to hear you thoughts.

Also, I have been involved in a few other endeavors. I have set up a Posterous motorcitytimes.com site that I plan to add unique content to.

I also am a member of The Resistance group blog. Be sure to check it out. They are a fantastic (and brainy) group of conservative writers. Don’t hold it against them that they let me join.

The Resistance also has a really active Facebook fan page. If you are on FB, you should become a fan.

Speaking of Facebook, I’m @ Steve Motorcitytimes and I have set up a motorcitytimes fan page as well.

I’m going to get back on track here and regular posting shall commence shortly.

Too Much Information (Ghosts In The Machine):

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Laura Berman Has A Serious Case Of Palin Derangement Syndrome

I’m shocked by Laura Berman’s Palin Derangement Syndrome on full display at the DetNews.com.

I have one question, does anyone remember remember ‘Cool Cities’? That took some intellectual gravitas from Jennifer Granholm to put that economic juggernaut together. But, getting back to Laura’s point that Sarah Palin is a quitter. The reason Sarah Palin resigned from office was that she was subjected a series of frivolous lawsuits that she was required to answer legally. These actions cost her an exorbitant amount of money to address.

It seems Laura’s blinding hatred caused her to overlook that small detail. I wonder what Laura would have to say if Granholm was selected by “The One” to sit on the Supreme Court? Would Laura call Granholm a quitter for not finishing her last 18 months on the job “fighting for green jobs and heavily subsidized movies?” I doubt it.

Finally, Laura Berman’s hatred allows her column to descend into the realm of bitter high school gossip about the girl she doesn’t like (emphasis added):

Palin’s high heels and chesty bravado — and her indifference to proving herself as a policy wonk or scholar– are just fine with the “let Sarah be Sarah” crowd.

Laura Berman has a serious case of Palin Derangement Syndrome.

Is it caused by jealousy? Sarah Palin has published a best selling book and her Facebook page, where she publishes her op-ed’s, has over 1 million subscribers. Laura’s paper has a print circulation of 167,849 and less than 600,000 online readers. That’s gotta sting, just a little bit. And, I’m not sure, but, I would bet that Obama doesn’t read Laura Berman’s column, but he or his ‘people’ does read Sarah’s FB op-ed’s.

So, just who is the ‘policy wonk’? Is it Laura Berman, who isn’t read by Obama and his henchmen and is writing for a declining paper? Is it Jennifer Granholm, who has managed to lose jobs in every single year of her disastrous tenure as Governor of Michigan? Or is it Sarah Palin who has driven the debate of Socialized medicine, actually proposed real market solutions for energy and was a driving force behind nearly getting a conservative third party candidate elected to Congress.

I would say that’s not too bad for a ‘quitter’ former Governor and “failed” VP candidate. News flash to Laura Berman, McCain lost that election, not Sarah Palin.Maybe, if Laura and the rest of the DetNews writers were a bit more intellectually honest and a little less condescending to their readers, maybe they could get a few more subscribers and readers. And then, maybe. Just maybe. The DetNews could make a little more money and publish a paper, every day.

via Laura Berman Has A Serious Case Of Palin Derangement Syndrome | motorcitytimes.com.

Trying To Save The Planet With Turn Of The Century Technology

I knew the first practical photovoltaic cell was created in the 1950’s but did not realize that the photovoltaic principle was discovered in 1839 by French Physicist Henri Becquerel:

In 1839, Henri Becquerel a French scientist, discovered that an electric current could be produced by shining a light onto certain chemical solutions and termed it as photovoltaic effect.

In 1877, the Photovoltaic effect was first observed in a solid material (Selenium- a metal).

This material was used for many years for light meters, which only required very small amounts of power.

It’s funny how Democrats say they want to push ‘new’ technology and make the United States the leader in futuristic ‘Green’ technology.

However, in reality, nearly every ‘green’ technology Democrats are pushing for practically date back to the Victorian era.

Science has been refining photovoltaic cells for over 170 years. And to this day they are still not cost effective in producing large scale electric power.

What makes Obama and company think that there is going to be a miraculous discovery in the next 5 years, that wasn’t discovered in the previous 170 years?

Practical electric cars have been around since 1901, if the technology is so great for passenger cars, why did it go out of favor? Why did the internal combustion engine win out in the marketplace in the early 1900’s?

Another green technology is windmills. They have been around for hundreds and hundreds of years. If they were so great, why didn’t wind power gain acceptance over all that time as a means of electric power generation?

bircham windmill 07

The truth is all three technologies have fundamental flaws that are impractical to overcome.

One technological hurdle windmills, electric vehicles and photovoltaic cells have in common is how to effectively store electricity.

The greens are touting new battery technology to overcome the problem of storing electricity. And yes, they are making incremental gains. The new big push in battery technology has it’s roots in the turn of the century as well, Lithium-ion batteries. Lithium-ion batteries were first discovered in 1912 and have many drawbacks:

Aging is a concern with most lithium-ion batteries and many manufacturers remain silent about this issue. Some capacity deterioration is noticeable after one year, whether the battery is in use or not. The battery frequently fails after two or three years. It should be noted that other chemistry also have age-related degenerative effects. This is especially true for nickel-metal-hydride if exposed to high ambient temperatures.

Spend oh… $120,000 for a new Tesla roadster for a cool new toy, and drive it only on the weekends just to find out that the battery fails after 2 1/2 years weather you drive the thing or not. Most people become very annoyed when their cell phone battery dies. Imagine how irate you would be if your expensive EV batteries give out after two years.

Or, spend tens of millions of dollars on a solar array and then spend tens of millions more to store the power generated during the day so you can draw power over night. Even the most advanced Sodium-Sulfur (NaS) batteries have only a 15 year life and a fairly steep degradation curve as well. Another way to put it is; as demand for electricity goes up, the NaS battery storage capacity will go down.

lithium mine

One last point about Lithium. The biggest deposits are in Bolivia, South America. So, instead of importing expensive foreign oil, we will be importing expensive, foreign Lithium. And, by the way, lithium mining is not what I would consider a green endeavor.

via Trying To Save The Planet With Turn Of The Century Technology | motorcitytimes.com.

Michigan’s Next Governor And Federalism

But as the plan of the convention aims only at a partial union or consolidation, the State governments would clearly retain all the rights of sovereignty which they before had, and which were not, by that act, EXCLUSIVELY delegated to the United States

Alexander Hamilton- Federalist No. 32

About two weeks ago, I had a discussion with a couple of smart guys about defining conservatism. During the discussion I rattled off some obvious points. And, as quickly as I rattled off the easy points, they pressed me for more. As I thought about it, and being a Fred Thompson supporter during last years presidential primaries, I brought up the concepts of Federalism as being part of the foundation of conservatism.

After the discussion, it occurred to me that as much as the concept of Federalism is important for a Presidential candidate, it’s probably more important for a Governor (particularly in Michigan’s case with the toxic combination of Granholm’s ineptitude and Obama’s insatiable appetite for control) to have a strong understanding and support for this concept. Furthermore, a Governor must be willing to assert his state’s Constitutional rights and begin a push back against the ever encroaching Federal government since Washington is not going to give up control easily.

Federalism is a brilliant concept in that it’s the most effective way for groups of people to organize and operate. In government, business, military or even in team sports, the most effective organizations push decisions to the lowest levels of that organization possible.

A good example of pushing decisions to the lowest level is football. Some of the most important decisions in a game are the “tackle calls” made by offensive lineman. The linemen need to quickly adjust blocking schemes just prior to the snap to pick up defensive stunts, changes in alignment and blitzes. At that point in the game, there is no time for the coach to change the play. The decisions must be made by the players on the field.

In much the same way, a Federalist government pushes more decisions closer to home. This allows for more effective decisions can be made by the people most affected by the decisions. Rather than having decisions being made by the bureaucracy in Washington.

In order for Michigan to become a successful state again, the next Governor must embrace a Federalist approach to Michigan’s relationship with the United States Government. Particularly with the anti-business and strong central government approach embraced by the Obama administration. But just as important is Lansing’s relationship with the local governments within our state.

This concept can’t be overstated.

The financial troubles of the domestic auto industry has created a tremendous strain on Michigan’s economy. Unfortunately, for two terms, Granholm’s response has been a disastrous string of silver bullet, top down, central planning initiatives to address our states problems. Failed initiatives such as Cool Cites!, Let’s make Movies!, Green Energy! and the brilliant 45 by 20 plan! have, at best, done absolutely nothing to help our economy. At worst, gems like the 45 by 20 plan have scared business away from our state and accelerated Michigan’s economic decline.

To reverse this decline it will take an organic, bottom up, free market solutions to the problem.

In other words a Federalist solution to the problem, where Lansing removes needless regulatory barriers and starts creating the conditions for businesses to flourish. This will allow the people and communities across the state to freely innovate, apply their talents where they see fit and organically grow the state back to an economic powerhouse.

via Michigan’s Next Governor And Federalism | motorcitytimes.com.

Americas Worst Governor, Jennifer Granholm, Applauds The Government Takeover Of Health Care | motorcitytimes.com

LANSING – Governor Jennifer M. Granholm tonight issued the following statement on passage of the health care reform legislation by the U.S. House of Representatives: “The passage of health care reform is historic for Michigan. After decades of failed attempts, this legislation will give Michigan families and businesses more control over their own health care, will give them the security and stability that come with health care coverage, and will reduce overall health care costs. No state has needed reform more than Michigan, and I applaud and thank the members of our congressional delegation who voted for this legislation.”via michigan.gov’nuff said…

via Americas Worst Governor, Jennifer Granholm, Applauds The Government Takeover Of Health Care | motorcitytimes.com.