LAist’s Tear It Down is currently 1-0, with last year’s desperate cry to tear down 8500 Melrose Avenue (the pink and black checkered monster) receiving cries of agreement and some nice legitimate placement in the Los Angeles Times for the cause. We were overjoyed to know that we weren’t alone in voicing our opinion that, yes, there are some buildings and landmarks around town that really, positively must be demolished.
This week is no different. LAist would like to stick their digital neck out into the Los Angeles community and cry for the ultimate tear down ever — the Hollywood sign.
Let’s start with what we know: The Hollywood sign stands four stories high, stands firmly in the Hollywood Hills, and was erected in 1923 with the extended letters L-A-N-D. The landmark was not built as an homage to a city, or as a love letter to the motion picture industry or as a cool place to “park.” The 1923 HOLLYWOODLAND sign was built for one reason and one reason only: to motivate real estate sales by a group of real estate developers.
When the 1929 stock market crash came along and Hollywoodland’s real estate development crashed as well, the developers abandoned their marketing billboard. And without anyone around to maintain it, it fell apart until 1949 when the Hollywood Chamber of Commerce stepped in and offered to remove the last four letters and repair the rest.
Sure, the Hollywood sign now has a sense of history, but if local lawmakers decided to leave up a GAP ad with Tobey Maguire on a building for sixty years, or if that Angelyne billboard was allowed to stay up and become historical (oh wait, it has) — people would probably be visiting LA and taking pictures of themselves in front of the “historical Tobey ad.” “I’m going to LA to see the Jenna Jameson billboard,” people would say. And that would be very very very sad.
So…why treat the Hollywood sign with any more respect than every other billboard around town? Really, that’s all it is — a really old billboard that has happened to accidentally become a landmark.
Call us commie-bastards or call us something else that you’re unable to submit with your e-mail address and web page URL — but we’re not 100% convinced that keeping the Hollywood sign is the way to go. Does it really mean that much to all of us to keep it up? Wouldn’t you rather have your tax dollars go to repairing the potholes in the roads or fixing Hollywood Boulevard or paying for more police or to (finally) splinter off the Los Angeles public school system? Doesn’t it just make perfect sense to get rid of the rest of those letters and call it a day?
It’s just a billboard, people. An eighty-two year old sales tool.
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Digital Realty Trust Inc. (DLR) can get your pants off.
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http://inflation.us/
After doing research on Loan Modification Default Rates and Shadow Inventory Rates i am in shock. This is very serious people. I feel very bad for all the responsible people who have been paying on their loans like clockwork hoping to use equity to subsidize their retirement. Can anyone say “poof”
Links
http://www.mgic.com/servicing/hamp_gse.html
http://mhanson.com/archives/242
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http://www.SunwestTrust.com, 800-642-7167, Self Directed IRA Custodian, Self Directed Real Estate IRA allows you truly diversify your retirement account into more than just the traditional Wall Street investments or bank CDs. Learn more and contact Sunwest Trust, Inc. to set up an account today. We look forward to hearing from you.
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http://www.panamaexpertos.com/panama-real-estate/listing-panamapenthouse-13.html
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Real Estate in Panama – Panama City
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This article is about the national capital city of Panama. For U.S. city of the same name, see Panama City, Florida.
Panama City
Ciudad de Panamá
Panama CityLocation in Panama
Coordinates: 8°59′N 79°31′W / 8.983, -79.517
Province Panama
Districts 23 Panama boroughs
Founded August 15, 1519
Seat of the Government November 3, 1903
Capital of the Nation November 3, 1903
Government
– Type Constitutional Democracy
– Mayor Juan Carlos Navarro (PRD)
Area
– City 275 km² (106.2 sq mi)
– Metro 2,560.8 km² (988.7 sq mi)
Elevation 576 m (1,890 ft)
Population (2000)
– Density 2,750/km² (129/sq mi)
– Metro 1,063,000
HDI (2006) 0.937 — high
Website: http://www.municipio.gob.pa/
Archaeological Site of Panamá Viejo and Historic District of Panamá*
UNESCO World Heritage Site
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State Party Panama
Type Touristic, Cultural
Criteria II, IV, VI
Reference {{{ID}}}
Region** Latin America and The Caribbean
Inscription history
Inscription {{{Year}}} (21st Session)
Extensions 2003
* Name as inscribed on World Heritage List.
** Region as classified by UNESCO.
Panama City (Spanish: Ciudad de Panamá) is the capital and largest city of the Republic of Panama. It has a population of 708,738, with a total metro population of 1,063,000, and it is located at the Pacific entrance of the Panama Canal, at 8°58′N, 79°32′W. Panama is the political and administrative center of the country. Juan Carlos Navarro is Panama’s current mayor.
Panama has been for 7 years in the top 5 places for retirement in the world according to International Living Magazine
Panama has a dense skyline, including mostly apartment buildings, but office complexes and hotels as well. Panama is an important hub for international banking and commerce. It has an advanced communications service, Internet use is widespread; and Panama’s Tocumen International Airport offers daily flights to international destinations.
Panama was chosen to be the American Capital of Culture for the year 2003 (jointly, with Curitiba, Brazil).
Real Estate in Panama City vacation canal map city flight to panama news beach house rental honda central america la prensa car real estate jack universidad de republic of nissan tropical mall for sale survivor web cam capital marine recon us girl food picture hotel florida the tailor history newspaper bocas del toro travel lonely planet pictureboquete
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This is the VOA Special English Economics Report, from http://voaspecialenglish.com
The American housing collapse was a major cause of the recession. The housing market is showing new life after three years of falling prices and too much supply. But now there are worries that banks could face big losses next on business properties.
For example, one effect of a weak economy is less demand for office space. As a result, property owners earn less and charge less in rent. This puts pressure especially on owners who borrowed a lot of money.
Easy credit helped fuel an explosion of development. The market hit a high point in two thousand seven.
Now, late payments are growing. Almost three percent of commercial mortgages were reported at least ninety days late between April and June. That was double a year earlier.
One major lender lost more than a billion and a half dollars in the second quarter. Capmark Financial Group said it might seek bankruptcy protection from its creditors. Medium and small banks also face a growing risk.
Banks hold one and a half of the three and a half trillion dollars in debt that supports the commercial real estate market. Housing debt is much higher. Still, around two trillion dollars in commercial mortgages are expected to come due for payment within the next five years.
Commercial properties face two serious problems. One is falling prices — down by one-fourth since two thousand seven. The other is refinancing.
Most commercial real estate loans have terms of ten years or less. They often end with a large payment, a balloon payment, which owners usually refinance. But lower property values and tighter lending requirements mean a harder time getting new loans.
One way to make capital available for new loans is to sell mortgage-backed securities. But since last year there has been little activity in the seven hundred fifty billion dollar market for commercial mortgage securities.
The Federal Reserve recently extended into next year a loan program designed to get investors to buy more securities like these.
The United States is not alone. Commercial rents in Moscow, Hong Kong, Singapore and Mumbai have fallen thirty percent or more.
American housing sales, though, have improved in recent months, helped by lower prices and a tax credit for first-time buyers.
The S&P/Case-Shiller national index of home prices rose in April, May and June. That was the first three-month increase in three years.
And that’s the VOA Special English Economics Report.
(Adapted from a radio program broadcast 11Sep2009)
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some parts of the country, housing prices are falling at double-digit rates. A bad situation for homeowners, but a possible opportunity for investors. Money reporter Stacy Johnson explores what’s next, and who might benefit…
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