Forget FOMO, The New Fear Is The Fear Of Not Selling At All

‘Sarasota County’s median sale price for single-family homes fell 13 percent year-over-year to $470,000. Condominium prices dropped 14.9 percent, bringing the median price to $339,500. In Manatee County, the median price of a single-family home declined 12.5 percent, to $464,000, while condos saw a 14.8 percent drop, to $300,220. In Sarasota County, the months’ supply of inventory for single-family homes increased to 7 months, indicating a continued shift toward a buyer’s market. Sarasota condos now represent the most saturated segment of the market, with 9.6 months of supply’

With such a deep broad based crater, there is no escaping cascading defaults. Will the lenders sell them? Who knows.

Chinese factory worker sets fire to textile plant over 800 yuan in unpaid wages

A Chinese factory employee set fire to a textile plant in China’s southwestern Sichuan province in his frustration over unpaid wages of just 800 yuan (or US$111), according to videos posted on social media and eyewitness accounts shared with Radio Free Asia.

The blaze at the Sichuan Jinyu Textile Company at the Wangchang Industrial Park in Pingshan county of Sichuan’s Yibin city raged for about 37 hours causing significant property damage and sparking intense discussions online about labor rights.

Social media posts indicated that Wen, 27, had a heated exchange with his employers over his back wages before setting fire to the factory on Tuesday.

The economic losses from the fire are estimated to be as high as tens of millions of yuan, according to preliminary estimates quoted by a number of netizens.

The Pingshan county police confirmed an incident of arson and said the arsonist had been detained at the scene of the fire. It said on Friday that the case is under further investigation, including an assessment of total losses incurred.

Police, however, said the claim that “800 yuan in wages were owed” was false, and that the company was in the process of approving payment of 5,370 yuan in wages. It blamed the factory fire on the arsonist’s suicidal thoughts, and said police would deal strictly with those spreading rumors.

After Tuesday’s incident, Chinese netizens took to social media to express their sympathy for the plight of workers like Wen, whose actions they believe, while extreme, were desperate. They said he was “forced to do so” out of sheer frustration over the lack of options to recover his money and have his voice heard.

“I read online that Wen’s family is poor and in a dire situation, and that his mother is ill and they are in urgent need of money,” Wang Shudong, an online user from Yibin city, told RFA on Friday.

“When those who were owed wages sought legal help, the judges disappeared, and the labor department staff also disappeared. But when Wen set fire to the factory, the police came and so did the officials from the legal system,” Wang noted.

Calling him “800 Brother,” to denote the 800 yuan Wen was owed by the factory, netizens and experts said more needs to be done to prevent “800 yuan tragedies” from happening in future.

They also questioned what legal rights and avenues are available for ordinary workers with months of unpaid wages.

“Chinese society is heading towards an unpredictable future, and the relationship between people is becoming increasingly tense under the pressure of economic downturn,” Sichuan-based scholar Tang Gang told RFA.

RFA has reported a spate of protests in recent days by Chinese teachers, medical staff, construction workers, and factory employees demanding unpaid wages.

https://www.rfa.org/english/china/2025/05/23/china-sichuan-factory-fire-worker-protest/

The ADV China guys have posted dozens of similar fires in the past year.

Father ripped from family as agents target immigration courts, arresting people after cases dismissed

The man just had his immigration case dismissed and his wife and 8-year-old son were trailing behind him when agents surrounded, then handcuffed him outside the downtown Los Angeles courtroom.

Erick Eduardo Fonseca Solorzano stood speechless. His wife trembled in panic. The federal agents explained in Spanish that he would be put into expedited removal proceedings.

Just moments earlier on Friday, Judge Peter A. Kim had issued a dismissal of his deportation case. Now his son watched in wide-eyed disbelief as agents quickly shuffled him to a service elevator — and he was gone. The boy was silent, sticking close by his mother, tears welling.

“This kid will be traumatized for life,” said Lindsay Toczylowski, chief executive and co-founder of Immigrant Defenders Law Center, who reached out to the family to help them with their case.

Similar scenes are taking place across the country as government lawyers dismiss immigrants’ deportation cases only to have them immediately arrested by agents as they leave the courtroom to be removed on a fast track that does not involve a judicial review.

Toczylowski said it was Fonseca Solorzano’s first appearance in court. Like many of those apprehended this week, Fonseca Solorzano arrived in the United States from Honduras via CPB One, an application set up during the Biden administration that provided asylum seekers a way to enter the country legally after going through a background check.

More than 900,000 people were allowed in the country on immigration parole under the app, starting in January 2023. The Trump administration has turned the tool into a self-deportation app.

A Times reporter witnessed three arrests on Friday in the windowless court hallways on the eighth floor of the Federal Building downtown. An agent in plain clothes in the courtroom came out to signal to agents in the hallway, one wearing a red flannel shirt, when an immigrant subject to detainment was about to exit.

“No, please,” cried Gabby Gaitan, as half a dozen agents swarmed her boyfriend and handcuffed him. His manila folder of documents spilled onto the floor. She crumpled to the ground in tears. “Where are they taking him?”

Richard Pulido, a 25-year-old Venezuelan, had arrived at the border last fall and was appearing for the first time, she said. He had been scared about attending the court hearing, but she told him missing it would make his situation worse.

An immigrant from Kazakhstan, who asked the judge not to dismiss his case without success, walked out of the courtroom. On a bench across from the doors, two immigration agents nodded at each other and one mouthed, “Let’s go.”

They stood quickly and called out to the man. They directed him off to the side and behind doors that led to a service elevator. He looked defeated, head bowed, as they searched him, handcuffed him and shuffled him into the service elevator.

Lawyers, who were at courthouses in Santa Ana and Los Angeles this week, say it appears that the effort was highly coordinated between Homeland Security lawyers and federal agents. Families and lawyers have described similar accounts in Miami, Seattle, New York, San Diego, Chicago and elsewhere.

During the hearing for Pulido, Homeland Security lawyer Carolyn Marie Thompkins explicitly stated that the case would be dismissed because the government planned on deporting Pulido.

“The government intends to pursue expedited removal in this case,” she said. Pulido appeared confused as to what a dismissal would mean and asked the judge for clarity. Pulido opposed having his case dropped.

“I feel that I can contribute a lot to this country,” he said.

Kim said it was not enough and dismissed the case.

https://uk.news.yahoo.com/father-ripped-family-agents-target-100000839.html

Diaspora Dollars at Risk: Africa Faces Billions in Losses from U.S. Remittance Bill

Across the African continent, remittances have shown remarkable resilience and growth, even amid global economic uncertainty. According to the World Bank’s Migration and Development Brief (November 2023), remittance flows to Sub-Saharan Africa reached an estimated $54 billion in 2023, up from $50 billion in 2022. Nigeria remains the single largest recipient, accounting for nearly 38% of the total remittance inflows in the region, with $20.1 billion received in 2023. Ghana followed with $4.7 billion, while Kenya received $4.2 billion. These figures underscore the immense scale and importance of diaspora contributions to African economies.

A proposed U.S. bill, currently advancing in the House of Representatives, seeks to impose a 5% tax on all outbound remittance transfers from non-citizens. According to reports, this legislation could divert as much as $2.8 billion from Sub-Saharan African economies in 2025, threatening one of the region’s most stable sources of foreign exchange. Nigeria, Ghana, and Kenya are projected to be among the hardest hit. The bill is expected to be voted on by May 26, 2025, with a possible signing into law by July 4, 2025. For African countries, where remittances fund education, healthcare, and business investments, the proposed fee could trigger a ripple effect across economies already struggling with high inflation and low foreign direct investment.

Diaspora remittances have become a lifeline for millions across Africa and other developing regions. In many cases, these inflows surpass foreign direct investment and official development assistance, making them a critical pillar for economic stability, poverty reduction, and social welfare. The proposed tax will disrupt the financial well-being of recipient families and the broader macroeconomic stability of several countries, particularly in West Africa.

The importance of remittances is not unique to Africa. Globally, India remains the largest recipient, with inflows reaching $125 billion in 2023, followed by Mexico ($67 billion), China ($50 billion), and the Philippines ($40 billion), according to the World Bank. In these countries, remittances are similarly vital for household welfare, poverty reduction, and macroeconomic stability. For instance, in the Philippines, they account for nearly 10% of GDP, funding education, healthcare, and housing for millions of families.

The reaction from African policymakers and civil society has been swift. Many have called on the U.S. government to reconsider the proposed tax, warning of its potential to undermine economic stability and development across the continent. The African Union has urged the U.S. to engage in dialogue with African governments and diaspora communities to find alternative solutions that do not penalize vulnerable families and economies.

https://www.opinionnigeria.com/diaspora-dollars-at-risk-africa-faces-billions-in-losses-from-u-s-remittance-bill-by-kator-ifyalem/

Hundreds of San Francisco city workers rally against potential layoffs amid budget deficit

HUNDREDS OF CITY WORKERS on Wednesday used their lunch break to rally in front of San Francisco City Hall, urging Mayor Daniel Lurie not to cut funding to certain city departments amid a projected upcoming budget deficit of over $800 million.

Workers from various unions held up signs and chanted slogans like, “When public services are under attack, what do we do? Stand up, fight back!”

“The budget will not be balanced on the backs of the working people of San Francisco who keep this community running, who keep this community thriving and who are the basic foundation of the success in this community,” shouted SEIU Local 1021 President Theresa Rutherford in a speech at the rally . “We are going to fight like hell and we are going to win.”

Businesses like Airbnb, Uber and Lyft all have lawsuits against San Francisco seeking to recover millions spent on local taxes they argue were overpaid. All together, the litigation totals could cost the city $415 million, which is more than half of the estimated budget deficit, according to a joint report from the mayor and city controller’s office.

District 7 Supervisor Jackie Fielder came to the rally to demand that Airbnb drop its lawsuit demanding $120 million in back taxes . Airbnb’s suit claims that the city improperly applied the tax on gross receipts between 2019 and 2022.

“They want to gut $120 million and get out of paying their fair share just to line the pockets of their CEO, of their shareholders,” Fielder said. “This is a for-profit corporation literally raiding city coffers.”

“This deficit is being driven by all these lawsuits, by Airbnb and other rich corporations,” Rutherford said. “This budget will be balanced by them paying their fair share and we will insist on that!”

The company also believes that it serves as an economic driver for the city, rather than a drain on San Francisco’s fund.

“Airbnb is a critical source of economic empowerment in communities across the country, including San Francisco where Airbnb was founded,” a spokesperson said in a statement. “Across the city, thousands of hosts rely on the extra money they earn from sharing their home to pay their mortgage, save for their kids’ college education, build a nest egg for retirement, or simply to cover rising costs of living.”

https://localnewsmatters.org/2025/05/15/hundreds-of-san-francisco-city-workers-rally-against-potential-layoffs-amid-budget-deficit/

‘We will have to pay for it all again,’ the woman said. ‘It is now 2025 and we are still in a tiny house with two small children facing a third freezing, damp winter staring at an empty section. The stress has been unimaginable. We are in debt, stressed and in danger of losing everything with costs for lawyers, existing mortgage, and prospective new build mounting up.’”

‘Now, the couple have civil court proceedings against Shape Construction to try and recover what they lost…Christchurch man JD Rayner engaged Shape Construction to build him a bach near Lyttelton in 2020 on a $490,000 fixed price contract. By March 2023, he said he had paid about $228,000. For that, he received only consented plans and shells of prefabricated modules which he claimed were worth about half what he had paid. ‘From February 2024 until now, there has been no activity, only excuses and silence from Toby Van T Veen regarding progress to complete my project,’ he said. ‘At 73 years old. I’m having to lay awake worrying about how I can pay for the remainder of the build’

It was way cheaper than renting for you too Toby, quit yer bitching.

‘Another customer, who did not want to be named, said she paid Shape Construction more than $400,000 to build a container home, with complete ground works, for her family in Auckland. Five years later, she had no resource consent and half a house. She said they were forced to pay another builder $350,000 to finish the job. While they had a good relationship with Van T Veen, she said, communication was always difficult. ‘He would ghost us for a few months.’ When the woman later contacted the planner who was lodging the resource consent application, they told her they were still waiting for payment from Shape Construction. The resource consent was never lodged. The planner was also waiting for an ecologist’s report. The woman followed up, and found out the ecologist had not been paid either. ‘Where did all the money go that we paid him?’

They always want to know where the money went. I should come up with a term for that. It’s a stage of grief really, like if they knew where it was they could recover some of that sweet equity.