Amplify Amplify your take on things.  Join Submit Solution on Amplify

. . .

internet marketing - real estate - social media - ecommerce - news
« Amplog Home   Posts tagged: China

About this Amplog

This is a group clog. We like news, technology, social media, real estate, economics, marketing and business.
+Join!

Contributors to this Amplog

Submit Solution
eHarbor, Inc.
Real Estate Promoter
Magellan Commerce

Categories

Chinese Drywall has Corrosive Effect on Florida Real Estate

That’s what you get when you use cheap materials!

Amplify’d from directinvestornews.com

Chinese drywall has corrosive effect on Florida real estate

As if the real estate market in Florida didn’t have enough problems, faulty drywall imported from China between 2004 and 2008 and used in thousands of homes could be killing the market’s chance for recovery.
The Consumer Product Safety Commission (CPSC) reports it has received more than 800 consumer complaints from 23 states and the District of Columbia about the Chinese-made drywall, which corrodes metal fixtures and electrical wiring, while emitting noxious fumes that may be a health hazard.
Faulty Chinese drywall reports
CPSC said this week that it is sending officials to China next week to investigate the source of the drywall, which was imported due to a domestic shortage caused by the construction boom after the hyper-destructive hurricane seasons of 2004 and 2005.
The Venture blog at Tampabay.com reports that homes with the tainted drywall are selling for as little as $19,000 in Cape Coral.Read more at directinvestornews.com
 

China reduces Treasury holdings, looks to buy mortgage securities

Bad news for Fannie and Freddie!

Amplify’d from directinvestornews.com

China reduces Treasury holdings, looks to buy mortgage securities

August 18th, 2009

China cut its holding of U.S. Treasury debt from about $800 billion in May to a bit more than $774 billion in June. Other foreign countries, notably Japan and the UK, have increased their holdings of U.S. debt.

U.S. and China cogs

Foreign investors were less interested in purchases of debt issued by mortgage giants Fannie Mae and Freddie Mac. Those purchases totaled $5.1 billion in June, compared with $12.8 billion in purchases in May.

A report from Reuters cites anonymous sources saying that China’s sovereign wealth fund is looking to invest about $2 billion in U.S. mortgage-backed securities through the Public-Private Investment Plan (PIPP), which subsidizes purchases of toxic bank securities with taxpayer funds.ADNFCR-2530-ID-19318698-ADNFCR

Tags: bank, britain, china, debt, fannie mae, freddie mac, international, Japan, securities, treasury, united states
Read more at directinvestornews.com