Weekly News Roundup for July 17, 2015

Newly constructed home

These are some of the stories we’ve been following this week.

• Should new homes be treated as special? Researchers studied the premia associated with new construction in Las Vegas before and after the housing bubble burst using hedonic modeling.

• Since China has suspended all initial public offerings (IPOs) on its stock market, alternative financiers are looking to move in and provide funding for private Chinese companies.

• The Eurozone has approved a €7 billion bridge loan for Greece, and negotiations continue regarding an €86 billion bailout.

• The Ohio Supreme Court found that grain storage bins are business fixtures, not property improvements, and should be taxed as personal property rather than real property.

• The Federal Trade Commission (FTC) will collect $32 million and $22 million judgments against two companies who had been conducting an online payday loan scam and ban the companies from any further consumer lending. Congress wants more to be done to stop predatory lending practices.

• A federal judge certified a class action lawsuit filed against Apple by the company’s retail employees. The suit alleges that employees should be paid for the time taken to check their belongings to make sure they did not steal any merchandise.

• Remediation plans for a landslide that hit North Salt Lake City have been hampered by disagreements about liability and compensation between the City and the affected property owners.

• A lawsuit to stop fracking is using an interesting tactic: anti-discrimination. The complaint alleges that a disproportionate number of minority children attend schools near fracking wells, making fracking an environmental justice issue.

• The Texas oil company responsible for an oil spill in Wyoming will pay $170,000 to settle Clean Water Act violations with the U.S. Environmental Protection Agency (EPA).

• Electric Power Research Institute (EPRI) will study coal ash recycling and the market surrounding the practice as required by coal ash legislation passed in North Carolina last year.

• Every city in Los Angeles County saw an increase in property values.