•   
  •   
  •   

World India's 'Ghost Towns' Saddle Middle Class With Debt---and Broken Dreams

06:10  17 january  2020
06:10  17 january  2020 Source:   online.wsj.com

Trae Young donates over $1 million worth of medical debt to those in need

  Trae Young donates over $1 million worth of medical debt to those in need Trae Young donates over $1 million worth of medical debt to those in needYoung has teamed up with RIP Medical Debt to relive medical debt to those in desperate need of assistance. RIP Medical Debt targets families and individuals who are well below the poverty line and have medical bills that cost 5% or more of their yearly income.

NOIDA, India —Half a million unfinished apartments are stuck in financial limbo in India , dashing the dreams and the spending of a middle class that was Wish Town , a development in the New Delhi suburb of Noida, encapsulates the plight of middle - class Indians who sank their life savings into the

India ’ s ‘ Ghost Towns ’ Saddle Middle Class With Debt — and Broken Dreams . WSJ News Exclusive | Amazon Sought Billion in Incentives on Top of Lures for HQ2. The Era of Fed Power Is Over.

a cow walking on a city street: Construction of Wish Town, a development meant to house 200,000 people in the New Delhi suburb of Noida, stopped in 2016. © /Bloomberg NewsConstruction of Wish Town, a development meant to house 200,000 people in the New Delhi suburb of Noida, stopped in 2016.

NOIDA, India—Half a million unfinished apartments are stuck in financial limbo in India, dashing the dreams and the spending of a middle class that was supposed to be spearheading India’s economic rise.

Wish Town, a development in the New Delhi suburb of Noida, encapsulates the plight of middle-class Indians who sank their life savings into the promise of life in a green and neatly ordered suburb. Hundreds of empty townhouses and apartment towers, half-built and stained by mold from monsoon rains, stare down at what used to be farm lands.

Netflix’s $3 mobile-only plan is coming to more markets

  Netflix’s $3 mobile-only plan is coming to more markets Last year, Netflix rolled out a mobile-only plan in India, in a bid to increase its subscribers count for the region by reaching customers who couldn't afford to pay for a full-fledged streaming plan. Soon after that, we learned that Netflix was piloting a similar plan in Malaysia, a move that confirmed its mobile-only plan makes sense for some markets and that other countries in the region could get the same subscription options as India. Good news: It turns out that Netflix does want to bring the mobile-only subscription to more markets in the future.

Download Adam Lambert' s album "The Original High" featuring the single " Ghost Town ” now at http://adamofficial.com. Watch Adam' s latest music video for "Another Lonely Night" at http://smarturl.it/alnvid. Official Store: http://smarturl.it/adam.d2c iTunes: http

Ordos Kangbashi is a new city of world- class architecture, extravagant public plazas, international scale stadiums, and seas of crisp new housing that rose up from the barren deserts of China' s Inner Mongolia in less than a decade. However, this new city soon found itself showcased in the international

The construction workers are long gone, the site’s cement factory and cranes have stopped working. Signs mark aborted projects: a “Sports Field” is still a cauliflower patch, the “Social Club” a shell of a building.

Construction stopped in 2016 when the developer couldn’t pay its debt. Only about half of the 40,000 apartments that were to house close to 200,000 people have been finished and handed over to their buyers. Those who have moved in complain that the golf club, gyms, pools, retail spaces and restaurants advertised by its developer, Jaypee Group have largely yet to be built.

Get news and analysis on politics, policy, national security and more, delivered right to your inbox

Bus catches fire in road accident in India; at least 20 dead

  Bus catches fire in road accident in India; at least 20 dead At least 20 people died when a double-decker bus caught fire after ramming into a truck on a highway in northern India, police said. Another 21 people were taken to a hospital, some of them in critical condition, following the crash late Friday, said senior police officer Mohit Aggarwal. Many of the bodies were burned beyond recognition after the fire swept through the bus, he said. The accident occurred near Kannauj, a town about 200 kilometers (125 miles) southwest of Lucknow, the state capital.Police suspect the truck driver lost control over the vehicle, leading to the collision with the bus. The truck driver escaped, police said.

A ghost town or alternatively deserted city or abandoned city is an abandoned village, town , or city, usually one that contains substantial visible remaining buildings and infrastructure such as roads.

The middle - class dream was never about life being easy. It was about working hard and being rewarded by an improving situation. In many cases, it also means going into debt . Broken Middle - Class Math. Here is how the numbers pencil out in Honolulu. A majority of residents in Hawaii

Jonaki Ray took a loan to buy an apartment in 2009 that has tied up her life savings for more than a decade. To pay for her mortgage, and an apartment she has rented in the meantime, she stopped splurging on things like vacations abroad and a new car.

Ms. Ray has finally been given the keys to the unit, but still has no plans to move in. She has to finish the interiors on her own, and she is worried about safety as no one else on her floor has moved in.

“There is this thing looming over me and I don’t know what is going to happen,” she said. “It’s always there at the back of my head.”

Stuck home buyers in the hundreds of “ghost towns” now dotting the outlying areas of New Delhi, Mumbai and other urban centers face a situation that some here liken to America’s much larger subprime crisis. Builders have run out of money and can’t get new loans. People who put down payments have waited through years of delays and court cases and still may not ever get their homes or refunds.

Trump Planning First India Visit in February, Official Says

  Trump Planning First India Visit in February, Official Says U.S. President Donald Trump is planning his maiden India visit in February, an official said, in a trip that may coincide with an impeachment trial that is likely to get underway in Washington next week. The two countries are in touch to work out mutually convenient dates for the visit, according to a senior Indian government official, who asked not to be identified citing rules.Read more: Impeachment Adds to a Long List of Trump’s Legal HeadachesTrump and Modi are expected to sign an agreement on civil aviation apart from the long-pending bilateral trade deal, The Hindu newspaper reported citing sources it didn’t identify.

Search real estate property records, houses, condos, land and more on realtor.com®. Find property info from the most comprehensive source of home data online.

Ghost towns in Asia. Former populated places in India . Ghost towns by country.

Many have cut back spending on everything from cars and clothes to flights and eating out. This has contributed to the recent drop in consumption behind India’s economic slowdown, with the government predicting growth will fall to less than 5% in the fiscal year ending March 31, its lowest in more than 10 years. Deborah Tan, an assistant vice president at Moody’s Investors Service, said Indian consumers have given up hoping for the economy to turn around and are tightening their belts—one reason the rating firm downgraded its outlook for India to negative from stable in November.

Delivering on the hopes of the middle class has emerged as one of the biggest challenges for Prime Minister Narendra Modi. The middle class, which most analysts say could be more than 100 million people, has backed him strongly in two elections, and he regularly mentions the plight of stuck home buyers in his speeches. New Delhi last month announced a $3.5 billion fund to jump start the viable projects, although many economists say the amount isn’t enough.

The housing crisis reflects the sea change that has taken place in India’s financial industry amid liberalization efforts to meet the needs of a fast-growing economy. Two decades ago it was close to impossible for most people to get a mortgage, and red-tape made it difficult and unprofitable for developers to attempt large projects. Even the best-paid usually had to save until near retirement before they could afford a home.

Jeff Bezos and Lauren Sanchez hold hands during red carpet debut in India

  Jeff Bezos and Lauren Sanchez hold hands during red carpet debut in India It's already been an eventful trip to India for the entrepreneur. When Bezos touched down earlier this week he was welcomed by the government with a new antitrust case. On Wednesday, Bezos announced Amazon would invest $1 billion over the next five years to bring more than 10 million small and medium Indian businesses online. © Provided by Yahoo Entertainment US Amazon CEO Jeff Bezos and Lauren Sanchez pose for photographs during a blue carpet event by Amazon Prime Video in Mumbai, India on January 16, 2020.

Очередь.

"Old Town Road" is a song by American rapper Lil Nas X, first released independently in December of 2018. After gaining popularity, the single was re-released by major label Columbia Records in March

When market liberalizations in the early 2000s made it easier to raise money on the stock market and with loans, as well as to obtain home mortgages, buyers and builders went overboard. Across the country there was an explosion in new apartment construction. Complexes with a total of five million apartments and villas were launched between 2009 and 2019 according to PropEquity, a real-estate research company. Real-estate loans at India’s banks, as well as at nonbanking finance companies known as shadow banks, quadrupled to more than $70 billion.

The developers, though, quickly ran into problems getting government clearances and finding enough workers to build their projects. Apartments that were supposed to be built in three years ended up taking five years or more. Then, funding for projects dried up, as banks and shadow banks cut back amid growing piles of soured real-estate and infrastructure loans. This forced more delays and even the mothballing of many projects.

More than 450,000 apartments have been delayed for more than three years, according to a recent government survey. The value of all the delayed projects is more than $50 billion, 10 times the number five years ago and still half of what it will be in the next few years, according to PropEquity.

Amsterdam to Buy Debts of Young Adults In Order to Help Them Get Jobs and Pursue Higher Education

  Amsterdam to Buy Debts of Young Adults In Order to Help Them Get Jobs and Pursue Higher Education A program is expected to start in February in Amsterdam which will purchase the debts of young people and help them obtain higher education and employment.Debts will be bought out by a municipal credit bank, which will then offer recipients a loan which is to be paid back in amounts that are in line with the recipient's income. More of the debt could be canceled or bought out by the bank if the person receiving the loan seeks employment or a course of education.

Ghosttowns .com-the best source of information on ghost towns in the U. S . Ghost towns are listed by state & include biographies, pictures, and other detailed ghost town info.

Ghosttowns .com-the best source of information on ghost towns in the U. S . Ghost towns are listed by state & include biographies, pictures, and other detailed ghost town info.

Analysts say the government may need to create its own bad bank specifically for real estate to take the bankrupt projects off the lenders’ books. New Delhi has already merged struggling state banks into bigger banks, while the central bank has cut interest rates five times this year and eased restrictions on healthy lenders.

Samir Jasuja, founder of PropEquity, said the industry needs government money and guarantees as well as guidelines about which projects get saved and how. Without government-backed funds to rescue the most viable projects, the problem will only spread, he said. “This hole is going to get bigger and bigger and more money is going to go after bad projects,” he said.

Wish Town had some good news last month. Through negotiations in bankruptcy court, the project found a new owner, a government-backed company, that has said the complex will be finished in three years.

For Ms. Ray, though, the gray skeletons of unfinished towers she can see from her window are a far cry, she says, from the lush photos in the promotional pamphlet she was enticed by a decade ago.

“It seemed so green and peaceful,” she said. “Now it’s not green or peaceful.”

Write to Eric Bellman at eric.bellman@wsj.com

British cities to get buses that suck pollution from the air .
Using public transport is often a greener alternative to driving a car, and now one company is taking its green ambitions a step further -- by developing a pollution-sucking fleet of buses. © Courtesy Go-Ahead Microparticles collected by the trial bus in Southampton, England weighed the same as a tennis ball. Go-Ahead Group, a British transportation company with a fleet of 5,000 buses in total, confirmed to CNN that it is rolling out 11 new buses in towns and cities across England that clean the air as they go.

—   Share news in the SOC. Networks
usr: 116
This is interesting!