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Department of Housing and Urban Development Is Calling A Real-Estate Bottom

That's the most obvious interpretation of the news that Westchester Country ($116,916 median household income to a New York and United States average of $51,001 and $61,117 according to the 2000 census) agreed to build a slew of "affordable housing" in a settlement with the Department of Justice and HUD over Westchester's supposed failure to enforce fair housing laws.
The Wall Street Journal is calling it a shot across the bow of other counties (they mean the wealthy ones though) and in particular jurisdictions growing fat (or just barely failing to starve) off government teats.
There's no reason at all, when you think about it, that you shouldn't be able to move into your new place in Scarsdale right after for filing for unemployment.

But Mr. Sims said the lawsuit had made clear that "there was a significant amount of racial segregation" in Westchester. He said studies showed that zip codes could increasingly serve as a predictor of life expectancy and illness. "It's time to remove zip codes as a factor in the quality of life in America," he said.

Wealthy Suburbs Accept Low-Income Homes [The Wall Street Journal]



Travis Kalanick Embraces His Destiny As A Real Estate Developer

It's beautiful thing to watch a man find his true calling.

Justice Department To Wall Street: Be Afraid, Motherf*ckers! Be Very Afraid

The next generation of Dick Fulds might wanna start quaking in their boots.