State’s foreclosure activity is rising

first_imgA recent study by Christopher L. Cagan, director of research and analytics at First American Real Estate Solutions in Santa Ana, found that most of the trouble should come from teaser-rate loans that will reset in 2007 and 2008. “The people who bought in ’03 or ’04 tend to have equity so they can usually work something out. Next year and the year after next is when things will get sticky,” Cagan said. Someone who paid about $500,000 for a home in the San Fernando Valley last year and got a teaser rate of 1 percent would have initially paid $1,608 a month. If that loan resets next year at 6.5 percent, the payment soars 96.5 percent, to $3,160. Buyers with hybrid loans are not at as much risk. “If prices are going up 20 percent a year everyone is a genius and mistakes are forgiven. The problem is when prices level off,” Cagan said. Homeowners who bought near the peak face the most risk and the economic fallout will be limited. “It will not break the economy,” Cagan said. The analysis also showed that: Nevada foreclosure activity has more than doubled this year to 4,544 incidents versus the 2005 final quarter. The problem there is speculation, with 25 percent of new home sales going to out-of-state investors. Colorado has a 50 percent increase in new foreclosures in this year’s first three months compared with the final three months of last year. And they are up an annual 96 percent. [email protected] (818) 713-3743160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! Foreclosure activity in California and other Western housing markets is on the increase in part because high-risk adjustable-rate loans are beginning to reset to fully amortized payment schedules, a property tracker said Monday. During the year’s first three months, all types of foreclosure activity in California jumped an annual 33.6 percent, to 28,550 incidents, said Sacramento-based Notices of defaults, one of three indicators tracked and the first step in the foreclosure process, increased 36.5 percent, to 20,515 incidents. And the number of real estate-owned properties, the final step in the process and notification that there is a new owner, increased 27 percent, to 1,41l. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREBasketball roundup: Sierra Canyon, Birmingham set to face off in tournament quarterfinals“I think it’s all the washing of the market,” said company President Alexis McGee. And activity was expected to pick up since levels sank to record lows as the market peaked. Now home sales are softening, appreciation is not as robust as a year ago, interest rates are rising and inventory is building. McGee also said the creative adjustable loans that helped buyers jump into high-priced markets such as Southern California will continue to impact foreclosure activity as the market continues its shake-out. “I don’t see those low numbers coming back,” she said. Analysts have noted that of the six Southern California counties, San Diego is the furthest along in the cycle. McGee said that in recent years more than half of home purchases were financed with interest-only adjustable loans or option adjustables with very low teaser rates. last_img read more

Sharks’ All Star Game experience ends with ‘terrible outcome’

first_imgClick HERE if you’re unable to view the gallery on your mobile device.SAN JOSE — As Brent Burns attempted to put a positive spin on the Sharks home All Star Game at SAP Center, he was interrupted by teammate Erik Karlsson.“The crowd was awesome. Good energy,” Burns said.“Terrible outcome,” Karlsson interjected. Walt Whitman couldn’t have picked better words to describe the Sharks’ experience in Saturday’s three-on-three tournament at the Tank. Instead of witnessing an enduring …last_img

Butt files elaborate reply in fixing case

first_imgBacked by one of Pakistan’s most respected lawyers, suspended Test captain Salman Butt has filed a comprehensive and hard-hitting reply to allegations of spot-fixing against him to the ICC tribunal.”Salman has a very strong case to prove his innocence and we have already sent a detailed reply to all the allegations made against him to the ICC,” said Aitzaz Ahsan, who is representing Butt in the case.Ahsan said that each and every allegation made against his client had been rejected in the detailed and comprehensive reply spread over 40-pages.”We are going into the hearing for these players well- prepared,” he said.Butt along with teammates Mohammad Asif and Mohammad Amir were provisionally suspended by the ICC on September 2 on allegations of spot-fixing during the team’s tour of England earlier this year.Shahid Saeed, another lawyer on Butt’s legal team, also hit out at ICC CEO Haroon Lorgat for his statement in an interview to the BBC recently.”We are not giving details of our reply because of the confidentiality agreement, but Haroon Lorgat has violated the same agreement, although, charges are yet to be proven against the players,” he added.”The ICC itself is violating the agreement, as evident from the recent comments of Lorgat,” said the statement.Meanwhile, Butt insisted that a London ice- cream parlour could help clear him of spot-fixing allegations made as part of the corruption scandal surrounding the Pakistan team.Butt said thousands of pounds discovered in his London hotel room after a sting operation, came from daily tour allowances, bat sponsorship and the ice-cream parlour opening.advertisement”Everybody knows the PCB pays us daily allowances on tours and it was a long tour, so about 11,000 of this money was from my daily allowances,” he said. Being captain I have extra entertainment allowance which amounts to about 4,500 pounds from the tour – which I had with me,” the 26-year old opening batsman added.”The rest of the money was advance payment for my bat stickers. I was under contract with Capital Cricket. 2,500 were given to me for the opening of an ice cream parlour in Tooting (south London).”- With PTI inputslast_img read more

Shikhar Dhawan goes from Hong Kong vacation to man-of-the-series in historic triumph

first_imgShikhar Dhawan was awarded the man-of-the-series for his brilliant form on his return to Test cricket as India beat Sri Lanka by an innings and 171 runs to win the three-match series 3-0.The southpaw hammered 358 runs from four innings at an average of 89.5. Dhawan also hit two hundreds including a career best 190 at Galle in the first Test.Talking about his impressive performance in the post-match presentations, he said that the team management backs him to play his natural game and he is enjoying his batting currently. (Team India elated after historic Test series triumph: Reactions)”Things went very well for me. I got plenty of backing from my management, I enjoy playing this way, it’s my natural game,” he said.AP PhotoDhawan, who was initially not named in the squad for the Test series got an opportunity due to Murali Vijay’s injury. The Tamil Nadu opener was ruled out just before the series due to a wrist injury. The Delhi batsman benefited from it as he was called in to replace the No.1 opener after a brilliant Champions Trophy in England, where he amassed 338 runs from five matches. (Hardik Pandya biggest positive: Virat Kohli after India sweep series vs Sri Lanka)Dhawan sounded happy after grabbing his opportunity that he got due to the injury to Vijay.”Before this series I was in Hong Kong enjoying a vacation. Unfortunately one of our openers was unfit and I got a chance to come over here and by the grace of god things went very well for me and got the man-of-the-series award,” said Dhawan.advertisementHad a great time at ocean park. Shikhar Dhawan (@SDhawan25) July 16, 2017India will next play a Test series against the Sri Lankan again when they return in November and Vijay is expected to make a comeback. With KL Rahul fit and performing an Abhinav Mukund also getting 85 in the first Test, the competition for the openers spot is really heating up. Talking about his future in whites after a good series, the 31-year-old also said that he is not taking his spot for granted and will look to perform well.”I have to keep performing well because we have tough competition for all the slots, so that is a great sign for Indian cricket. It keeps me on my toes,” he said before signing off.First of many more to come my boy @hardikpandya7 Enjoyed our Daddy D pose @klrahul11 Shikhar Dhawan (@SDhawan25) August 13, 2017last_img read more

How the transportation industry rolls on embedded data storage technology

first_imgShare this:TwitterFacebookLinkedInMoreRedditTumblrPinterestWhatsAppSkypePocketTelegram Tags: Automotive, Memory/Storage Leave a Reply Cancel reply You must Register or Login to post a comment. This site uses Akismet to reduce spam. Learn how your comment data is processed. Continue Reading Previous Axiomtek: 3.5-inch Embedded SBC for mission critical and harsh environmentsNext Interfacing with modern sensors: Interface designcenter_img Transportation technology isn’t what it used to be; it draws on the latest advances in processing, networking and data storage. This is especially true when it comes to embedded systems deployed in rail and roadway transportation applications, which rely increasingly on advanced technologies to collect, process and store crucial data – and do so securely .Those transportation-focused, data-intensive embedded systems – a sector within the “smart transportation” category — span a broad range of applications such as in-vehicle computing, fleet tracking, telematics, control units, motion sensing and detection, equipment monitoring, and video surveillance, along with management systems for traffic, parking and ticketing. They’re typically deployed remotely – often in harsh environments where shock, vibration and extreme temperatures are the norm — thus creating a demand for high-endurance, industrial-grade solid-state drives (SSDs) that provide the systems with essential protection of the SSDs themselves and the data they store. Moreover, because they’re tasked with the constant collection, storage and update of data, they must have life cycles well beyond those of off-the-shelf, consumer-grade SSDs.On the opposite end of the storage-capacity spectrum are solutions designed for operating system boot and/or small footprint applications used for system monitoring and logging. In this case, small-capacity SSDs – for example 4GB to 16GB — leveraging highly compatible USB, SATA, and even PATA interfaces offer the system designer an attractive lowest-cost-per-usable-GB solution versus many other consumer and enterprise SSDs that typically offer only SATA and NVMe and in capacities 240GB and higher.Today’s industrial SSDs need to be designed and manufactured for just such challenges. Ideally, they’ll feature interfaces and form factors suitable for industrial applications, made to withstand vibration of up to 20Gs and shock as high as 3,000Gs, and include power-fail protection and other durability options like ruggedized conformal coating. And for SSDs claiming true industrial-temperature (I-Temp) support, the drives also need to be tested for sustained operability in temperatures ranging from -40°C and 85°C. And their design, manufacturing and test processes need to yield long lifecycles.Those are the type of industrial SSDs that bolster drive integrity in transportation applications that often are deployed in harsh environments.While SSD durability and longevity are essential attributes for embedded systems in general and in the transportation space specifically, they only tell part of the story. The data the drives store are useful only if they’re protected and accessible when needed. Security options such as the Advanced Encryption Standard (AES) – the de facto security standard for the U.S. government – helps ensure data protection and ready accessibility. The 256-bit key size of AES256, for example, delivers a remarkable 1.1 x 1077 number of possible combinations. Additionally, advanced authentication and other access-protection mechanisms such as write protection and secure erase help to support a multi-layered security strategy for critical data and systems. So, SSDs with crucial transportation data somehow falling into the wrong hands, therefore, would be of little use.A couple of examples help illustrate the transportation applications of embedded systems designed with highly durable industrial SSDs.Companies increasing require industrial-grade, USB-based solid-state storage solutions capable of storing transportation data for the equivalent of up to 40 years and surviving power failure. Advanced drives such as Virtium’s USB SSD line can meet these these types of demanding lifespan and technical requirements. Power-fail protection mechanisms such as Virtium’s vtGuard built into high-durability Virtium StorFly SSDs are available to address growing demand for more robust SSD solutions able to deal with power loss.It’s not just the technology of industrial-grade solid-state storage that drives transportation-focused embedded systems. Market figures signal a promising future: The global smart transportation market is estimated by Grand View Research to reach $285 billion by 2024, supported by a compounded annual growth rate of 22.5 percent. Not surprising is that fastest-growing region for smart transportation is Asia-Pacific.Smart transportation goes hand-in-hand with the steady rise of smart cities , in which sensors, cameras, processors and durable, secure data storage combine to help municipalities improve existing infrastructures. These systems’ objectives are clear: to maximize resources, improve efficiencies and ensure the safety of pedestrians, drivers and passengers. Data-centric transportation systems may not be what they used to be – in other words, not your father’s technology — but with highly durable and secure solid-state storage, they’re absolutely what they should be.Scott Phillips is vice president of marketing at Virtium Solid State Storage and Memory, headquartered in Rancho Santa Margarita, California. He has more than 20 years of experience working with many of the industry’s largest, multinational technology embedded-system manufacturers supporting a variety of storage, communications and system-level technologies. Scott was previously with solid-state drive maker sTec (acquired by HGST), managing embedded and industrial solid-state storage solutions. He holds a bachelor’s degree in business and marketing and a master’s in business administration. last_img read more

Dry Bulk Market to Recover from 2017 Onwards

first_imgzoom The dry bulk shipping market is expected to recover from 2017 onwards driven by a narrowing supply-demand gap, according to the shipping consultancy Drewry.Namely, demand is projected to grow at a healthy pace of 3% while supply could grow by about 1% from 2017.The growth in demand originates from a rise in iron ore and thermal coal trade, Drewry informed. Coal demand is expected to rise mainly from developing Asian countries including Vietnam, South Korea, Taiwan and China.The rise in Chinese domestic steel consumption will provide employment to VLOCs and Capesize vessels carrying iron ore in the market. On the other hand, Vale’s new project S11D has become the most cost effective iron ore mining project and will increase iron ore supply from Brazil increasing total tonne miles, which “will help demand for bigger vessels in the long term,” according to Drewry.The supply side is projected to grow by just 1% from 2017 because of high scrapping and a thin orderbook. The environmental regulations on Ballast Water Treatment System (BWTS) and IMO’s regulation on use of low sulphur fuel oil in 2020 which will result in high scrapping of old tonnages.Additionally, a contracting orderbook and low future new orderings due to limited financing availability are keeping a check on future deliveries.“At this point in time, the orderbook as a percentage of the total fleet, which is a strong indicator of future deliveries currently stands at a decade low,” Drewry said, adding that the outlook for dry bulk demand coupled with a small orderbook of newbuilds as a percentage of the total fleet capacity “will ensure a sustained recovery in the dry bulk market.”last_img read more