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Texas Economic Development Fueled By Taxpayer-Funded Corporate Subsidies

Texas economic development continues to be fueled by taxpayer-funded corporate subsidies. An estimated $1.4 billion in property tax revenue has gone uncollected in Texas from 2005 to 2015 as a result of Chapter 313. These are the findings from the state auditor’s report in October 2016. As Texas Observer detailed last year, the free lunch to corporations doing business in …

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Monkey Business – Expert Says Affordable Homes Are Going Away

Affordable homes are going away. With the prospect of rising rates, now is the time to buy a home. That is apparently the opinion of Dr. Luis Torres, a research economist with the Real Estate Center at Texas A&M. Torres, in a rather interesting piece in the Houston Business Journal seems to be confident that Houston’s real estate market is on …

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Reign Of Economic Error Continues To Plague Housing Market

The reign of economic error holding back the U.S. housing market was on display again this week. New home sales for December came in well below estimates, falling 10 percent from the November euphoria. The National Association of Realtors reported that existing home sales softened to a seasonally adjusted annual rate of 5.49 million in December. That was a 2.8 …

The Unprecedented Failure To Prosecute Big Finance

(Updated 10-12- 2016) You can file this one under the best government (and “justice”) money can buy category. What many have intuitively suspected for years is now coming out into the public domain. The undeniable truth is that for the last 8 years Washington has been a handmaiden for Wall Street interests. There is no longer any question about this. …

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Fed Looks At Texas’ Affordable Housing Problem, Fails To Look In The Mirror

The Federal Reserve can be commended on one thing. They never cease to provide entertainment in terms of their complete ineptitude and functional obsolescence. The Fed continues to show no remorse for the damage they have inflicted on the general population and their destruction of what was formerly known as the U.S. housing market. The latest comedy from the Fed comes …

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HCAD’s Two-Tiered Property Tax System Exposed By Recent Apartment Deals

(Updated 9-28-16) The bills for your property taxes will likely be going out in the mail next month. In case you needed another reminder of the two-tiered property tax system here in the Houston area, we just received another reminder of the crony capitalism that passes for uniform and “equal” appraisal in the Texas property tax system. According to the …

What’s Wrong With The U.S. Housing Market – The Panama Connection

It’s always entertaining to see a crony capitalist tool for our too-big-to-fail banking system get schooled by someone who knows where the bodies are buried. Intelligent people like Professor William K. Black and Senator Elizabeth Warren might not be the most uplifting guests at your next dinner party, but they do know a thing or two about how our current …