Homes have not recovered since the housing bubble burst. Trulia has just released its latest new study, and it has some eyebrows raising. Pulling from the study, we can […]
Man sentenced in ID theft fraud November 2014 was the start of Kesner Joaseus’s new business in which he quickly became an overnight success. Joaseus pulled in over $380,000 […]
Homes have not recovered since the housing bubble burst.
Trulia has just released its latest new study, and it has some eyebrows raising. Pulling from the study, we can look at a homeowner in Fresno, California and one from San Francisco. Not much distance separates these two cities, but San Francisco has seen its property values skyrocketing since the recession. Unfortunately, Fresno is lucky to have more than 2 percent of its homes get back to or above the pre-recession prices. Why?
If one were to look at the S&P CoreLogic Case-Shiller Index and the FHFA House Price Index, they would see numbers that show that the country has recovered from the last housing bubble burst. Trulia, on the other hand, says that this is not the whole story.
Looking across the country, it appears that 1 in 3 homes have reached a new peak in value. At the same time, larger tech based areas such as the Bay Area and Denver and job centers like Dallas and Nashville have experienced an explosion to new highs. Trulia’s report shows more losers than winners across the country and some of these losers are losing at an unprecedented rate. The report shows a little less than 30 metro areas have not even seen 10 percent of its home values recover. Las Vegas, for example, shows less than 1 percent.
The fact that there are so many home values that have not recover from the previous recession is leading some to say that there should not be any talk about a current housing bubble. Adding to that is the fact that there are fewer homes on the market since the bubble burst of 2012.
Man sentenced in ID theft fraud
November 2014 was the start of Kesner Joaseus’s new business in which he quickly became an overnight success. Joaseus pulled in over $380,000 leasing single-family houses all over Broward and Palm Beach counties. There was one small problem: The houses were not his to rent out according to the U.S. Department of Justice. It appears he had been renting out vacant homes without the owner’s permission.
The properties belonged to RHA 2 LLC, a Georgia-based firm. He created a company with a similar name and convinced unsuspecting renters that he was working for the real firm. Joaseus and two accomplices were involved. Wadno Dorneau and Miguel Tilus, were arrested for mail fraud and conspiracy to commit mail fraud.
Joaseus, who pleaded guilty in two fraud cases in July, had additional income streams according to federal prosecutors. He seemed to be scamming identifications to open fraudulent credit cards, buy two luxury cars and other items totaling over $260,000.
Joaseus, 47 was sentenced in U.S. District Court to 11 years in prison for the various scams he ran. This also included two 108 month sentences for the real estate fraud and additional years for the identity theft charges.
South Florida is a top ten area of the country in relations to fraud. Multiple millions of dollars each year are stolen from unsuspecting citizens and businesses. Various Federal agencies house large district investigation departments to monitor and shut down violators.
This Can Not Be Right
UncategorizedHomes have not recovered since the housing bubble burst. Trulia has just released its latest new study, and it has some eyebrows raising. Pulling from the study, we can […]
Real Estate Fraud Busted In South Florida
UncategorizedMan sentenced in ID theft fraud November 2014 was the start of Kesner Joaseus’s new business in which he quickly became an overnight success. Joaseus pulled in over $380,000 […]