An Israeli planning committee approved plans on 14 October to build thousands of homes in the illegal settlement of Givat Hamatos in occupied East Jerusalem.
If built, this would become the first Jewish settlement in 20 years to be built in occupied East Jerusalem, and the first ever beyond the 1967 armistice line.
The announcement came one day after Israeli Foreign Minister Yair Lapid met with US Vice President Kamala Harris in Washington, DC.
The Biden administration has previously spoken out against the expansion of illegal Israeli settlements in occupied Palestine. However, Israeli Prime Minister Naftali Bennet has said multiple times that his government has no plans to stop these expansions.
Experts believe that, once completed, the Givat Hamatos settlement will effectively split the West Bank in half, isolating Palestinians who live in occupied East Jerusalem and making a two-state solution virtually impossible.
EU officials condemned the Bennet administration’s plans for the construction of additional housing units in Givat Hamatos earlier this year, saying that the plan would “undermine the negotiations for a two-state solution.”
The Israeli settlement in Givat Hamatos is located beyond the 1967 Green Line, on lands which were seized from the Palestinian towns of Beit Safafa in the Jerusalem governorate, and Beit Jala in the Bethlehem governorate.
The construction plans approved on Wednesday would effectively cut off Beit Safafa from surrounding Palestinian villages and the rest of Jerusalem.
Residential real estate values have jumped 20.3 per cent in the past 12 months
… this week, the financial regulator announced banks would have to start
demonstrating, from next month, that new borrowers were capable of making mortgage repayments if home loan interest rates rose 3 percentage points above their current rate…
Comment by tonytran2015: Investing in property through companies expose the desperate young Australian investors to frauds and abuse by the management class. Investing in property by otherwise-homeowners is NO solution to the housing crisis.
How is it that homes are both unaffordable and soaring in price? As with so many other things that shouldn’t be, the answer can be found at the intersection of Wall Street and easy money. During the previous decade’s Great Recession, hedge funds and private equity firms figured out that they could borrow for next-to-nothing and buy up the houses that banks were repossessing, then rent those houses back to millions of newly homeless Americans for good returns. Combine these positive cash flows with massive recent price appreciation, and those foreclosed houses turned out to be phenominal investments. Now Wall Street is doubling down, using hundreds of billions of essentially free money to outbid individual buyers for whatever houses are still avalable. In some cases investment giants like Blackrock buy up entire neighborhoods at big premiums to the asking price, pushing everyone else out of the market. Hence the disconnect between home prices and family incomes. …Looks like housing is yet another example of how easy money perverts formerly free markets. Where family income used to dictate (and limit) home prices, now the driver is the yield on corporate and asset-backed bonds. The lower those rates go, the higher home prices climb. If individual buyers are priced out, well, they can just rent from Wall Street, on whatever terms our new landlords think is fair.
The clue that the price action has monetary roots is in its frequency, that is, in the number of markets that are experiencing huge price run-ups. Each huge price run-up in isolation can be put down to market-specific supply constraints,but when the same thing happens in so many different markets at different times within a multi-year period then we can be sure that the root cause is linked to the monetary system itself.In the current environment, the root cause is the combination of rapid monetary inflation courtesy of the central bank and a huge increase in government deficit-spending.Thanks to the Fed, the supply of US dollars is about 50% greater today than it was two years ago.
“Ever-rising housing prices relative to income, I don’t think serves our collective good very well, it’s something that as a citizen I would like to see addressed, but as a central bank we can’t
do anything about,” he said…
…”While monetary policy is contributing to higher housing prices at the moment, the way to address these concerns is through the structural factors that influence the value of the land upon which our dwellings are built.”
There’s been another devastating setback for the Biden administration on Thursday. But this time, it’s a win for Americans and the U.S. Constitution.
The Supreme Court on Thursday hasruled 6-3against the president’sunconstitutional orderto freeze rents based on the rationale that the U.S. is still in the midst of a coronavirus pandemic.
In a 6-3 ruling, the nation’s highest court removed the stay on the moratorium issued by a federal judge, who had found the Centers for Disease Control and Prevention’s rent eviction moratorium unconstitutional.
“It is indisputable that the public has a strong interest in combating the spread of the COVID–19 Delta variant. But our system does not permit agencies to act unlawfully even in pursuit of desirable ends,” the Supreme Court ruled.
“If a federally imposed eviction moratorium is to continue, Congress must specifically authorize it,” the ruling continued. “The application to vacate stay presented to the Chief Justice and by him referred to the Court is granted.”
“Upshot of ruling: it isn’t even close. CDC has no authority to issue this rule,” The Economist’s Supreme Court reporter Steven Mazie noted.
The court’s ruling is a victory for a landlord group that has been seeking to block the federal eviction suspension. The cost to property owners was estimated to be around $19 billion a month.
The Alabama Association of Realtors led the plaintiffs against the Centers for Disease Control and Prevention. The legal win has far-reaching implications for the CDC’s illegal claims to authority over U.S. policies that are delegated to the Congress under the U.S. Constitution.