Recent comments by aleister perdurabo

A reality TV star who spent more than $100,000 to look like Justin Bieber has been found dead in a California hotel room, according to a report.

The body of Tobias Strebel, 35 -- who went by the name Toby Sheldon -- was found in a room at a Motel 6 in San Fernando Valley Aug. 21, the LAPD told TMZ.

Police reportedly found drugs in the room, but did not reveal a cause of death.

Strebel was reported missing Aug. 18 and police believed a recent break-up with his boyfriend may have been linked to his disappearance.


The opposite process is devalorisation ("Entwertung") which refers to the process whereby production capital invested loses part or all of its value, because the labour maintaining the value of capital is withdrawn, or because output cannot be sold, or sold at the intended price, or because more modern production techniques devalue older equipment.

Over time capitalist assertion of valorisation can be seen to always depreciate over extended periods of time. Marx describes the effect as “tendency for the profit rate to fall”.[4] Revitalised by the likes of Kliman (2010, cited in Giacché 2011) and Perri (2010, cited in Giacché 2011), whom in compliance with Marx’s theory believe that although valorisation is the driving force of capitalisation, it also contributes to an impending downfall.[5] However, due to excessive supply requirements and ever increasing demand from the global markets, industrial collapses tend to operate in favour for the emergence of new independent capitals.

Typically what happens in a severe economic crisis is that the real cost structure of production is realigned with market prices. In Marx's terms, productivity growth has changed product-values in different sectors, but it is only after quite some time that prices adjust to changed underlying values. In that case, devalorisation may occur quite rapidly: capital assets are suddenly worth less, and as soon as capital assets are no longer utilised and maintained by living human labour (because of unemployment), the value of those capital assets begins to deteriorate. In the end, the total withdrawal of human labour leaves nothing but a ghost town.

Devalorisation is not the same as devaluation of capital, because the term "devalorisation" applies specifically only to assets which function as production capital, whereas "devaluation" of capital could refer to the loss in value of any capital asset in any particular form. Devalorization means specifically that means of production lose value because the living labour required to maintain them is withdrawn.

A study on peer influence in ecommerce shows a 60% higher chance of buying an online service if it's purchased by friends, according to research that appears in the current issue of Management Science, a publication of the Institute for Operations Research and the

Management Sciences (INFORMS), the leading professional association in analytics and operations research.

Do Your Online Friends Make You Pay? A Randomized Field Experiment on Peer Influence in Online Social Networks is by Ravi Bapna and Akhmed Umyarov of the Carlson School of Management at the University of Minnesota.

Demonstrating the existence and strength of peer-to-peer influence has become the Holy Grail of modern research in online social networks, the authors note. In social networks, it has been consistently demonstrated that user characteristics and behavior tend to cluster. There are multiple, rival mechanisms that compete to offer an explanation, ranging from shared interests to peer influence to other factors.

In this paper, the authors devised an experiment that tests causal peer influence in the general population of a large-scale online social network.

"While the received wisdom focusses on using influential users to spread ideas and behavior in social networks, our research establishes that even the average 'John Doe' type users exert influence on their friends to pay for premium subscriptions" says Bapna.

Nevada governor to talk with Obama about greater sage grouse | The Salt Lake Tribune

Las Vegas • Nevada Gov. Brian Sandoval planned Monday to talk privately with President Barack Obama about keeping the greater sage grouse off the endangered species list in 11 Western states.

The Republican governor planned to meet with the Democratic president after welcoming him at McCarran International Airport for a clean energy conference at the nearby Las Vegas Strip.

The U.S. Fish and Wildlife Service faces a court order to make a decision by Sept. 30 about listing the chicken-sized bird as endangered in rangeland in states from California to the Dakotas.

The decision carries big implications for oil and gas drilling, livestock grazing and a host of other uses of federal lands throughout the region.

Omen is Nemo spelled backwards.

Central Banks Have Become A Corrupting Force - The Unz Review

The Fed is prohibited from buying equities by the Federal Reserve Act. But an amendment in 2010 – Section 13(3) – was enacted to permit the Fed to buy AIG’s insolvent Maiden Lane assets. This amendment also created a loophole which enables the Fed to lend money to entities that can use the funds to buy stocks. Thus, the Swiss central bank could be operating as an agent of the Federal Reserve.

If central banks cannot properly conduct monetary policy, how can they conduct an equity policy? Some astute observers believe that the Swiss National Bank is acting as an agent for the Federal Reserve and purchases large blocs of US equities at critical times to arrest stock market declines that would puncture the propagandized belief that all is fine here in the US economy.

We know that the US government has a “plunge protection team” consisting of the US Treasury and Federal Reserve. The purpose of this team is to prevent unwanted stock market crashes.

Fannie, Freddie Risk-Transfer Bonds Give Investors New Scare - Bloomberg Business

A nascent corner of the market for Fannie Mae and Freddie Mac bonds is on a roller coaster ride despite what Morgan Stanley calls the “pristine performance” of the mortgages linked to the debt.

Prices of the more than $19 billion of notes, often called credit-risk transfer bonds, collapsed over the past few months, largely tracking a renewed drop in competing assets, such as high-yield corporate notes. Risky bonds are slumping as commodity prices tumble on growing economic concerns about China and other emerging markets. Fannie and Freddie are using their risk-sharing securities to get investors to share in their dangers from homeowner defaults.

Bad Request

With New York real estate values and rents surging, owners of commercial properties acquired as recently as a year ago are already seeking buyers. In the case of one midtown site, the developer scrapped construction plans to sell an empty plot.

There's so much buyer demand that in some situations it's more opportune for landlords to sell rather than follow through on plans for redevelopment or filling buildings with new tenants. A record $29.4 billion of Manhattan property deals were completed in the first half of 2015, according to brokerage Jones Lang LaSalle Inc.—part of a five-year real estate rally that has pushed prices to new highs in big U.S. cities.

"For investors who were able to buy early in the cycle, prices have appreciated to a level where they were able to get the business plan started and get a good return without having to fully execute," said Scott Rechler, chief executive of RXR Realty LLC, which has about $10 billion of real estate throughout New York, New Jersey and Connecticut, including the Helmsley Building on Manhattan's Park Avenue.

Foreclosure rates high in Putnam, Rockland

Although new foreclosure filings have leveled off in the rest of New York, there's been a big jump in pending cases in the mid-Hudson Valley, according to a report Monday from the state Comptroller’s Office.

Realtors in Rockland report seeing foreclosures spike at all price ranges in all areas of the county. Sheryl Vogel of Keller Williams Realty in New City currently has 16 foreclosed properties in her personal listing inventory, and has seen three in the past year alone at Harbors at Haverstraw, a luxury condominium and townhouse community.

“The taxes are extraordinarily high — when you’re talking a townhouse in Rockland County, the taxes are $16,000-plus, and maintenance are $400-plus,” said Vogel.

Edith Cavell, Jessica Lynch and now Kayla Mueller.

Readerly & Writerly Texts
Barthes and Text :: Readerly and Writerly Texts
The Readerly Text

Barthes argues that most texts are readerly texts. Such texts are associated with classic texts that are presented in a familiar, linear, traditional manner, adhering to the status quo in style and content. Meaning is fixed and pre-determined so that the reader is a site merely to receive information. These texts attempt, through the use of standard representations and dominant signifying practices, to hide any elements that would open up the text to multiple meaning. Readerly texts support the commercialized values of the literary establishment and uphold the view of texts as disposable commodities.

The Writerly Text
By contrast, writerly texts reveal those elements that the readerly attempts to conceal. The reader, now in a position of control, takes an active role in the construction of meaning. The stable meaning, or metanarratives, of readerly texts is replaced by a proliferation of meanings and a disregard of narrative structure. There is a multiplicity of cultural and other ideological indicators (codes) for the reader to uncover. What Barthes describes as “ourselves writing” is a self-conscious expression aware of the discrepancy between artifice and reality. The writerly text destabilizes the reader’s expectations. The reader approaches the text from an external position of subjectivity. By turning the reader into the writer, writerly texts defy the commercialization and commodification of literature.

Modified yeast produce opiates from sugar

Move over, poppies. In one of the most elaborate feats of synthetic bio logy to date, a research team has engineered yeast with a medley of plant, bacterial, and rodent genes to turn sugar into thebaine, the key opiate precursor to morphine and other powerful painkilling drugs that have been harvested for thousands of years from poppy plants. The team also showed that with further tweaks, the yeast could make hydrocodone, a widely used painkiller that is now made chemically from thebaine.

“This is a major milestone,” says Jens Nielsen, a synthetic biologist at Chalmers University of Technology in Göteborg, Sweden. The work, he adds, demonstrates synthetic biology's increasing sophistication at transferring complex metabolic pathways into microbes.

Could Shakespeare have been high when he penned his plays?

There was unquestionable evidence for the smoking of coca leaves in early 17th century England, based on chemical evidence from two pipes in the Stratford-upon-Avon area.

Neither of the pipes with cocaine came from Shakepeare's garden. But four of the pipes with cannabis did.

Results of this study (including 24 pipe fragments) indicated cannabis in eight samples, nicotine in at least one sample, and in two samples definite evidence for Peruvian cocaine from coca leaves.

Shakespeare may have been aware of the deleterious effects of cocaine as a strange compound. Possibly, he preferred cannabis as a weed with mind-stimulating properties.

These suggestions are based on the following literary indications. In Sonnet 76, Shakespeare writes about "invention in a noted weed". This can be interpreted to mean that Shakespeare was willing to use "weed" (cannabis as a kind of tobacco) for creative writing ("invention").

In the same sonnet it appears that he would prefer not to be associated with "compounds strange", which can be interpreted, at least potentially, to mean "strange drugs" (possibly cocaine).

Sonnet 76 may relate to complex wordplay relating in part to drugs (compounds and "weed"), and in part to a style of writing, associated with clothing ("weeds") and literary compounds (words combined to form one, as in the case of the word "Philsides" from Philip Sidney).

Read more at: 404 Error - The Page Cannot be Found

Apocalypse Update: Robot Builds Other Robots : Discovery News

Heads up, carbon-based life forms: Researchers in Europe have developed a robot that can make other robots.

What's more, the robotic system assembles smaller systems that improve with each generation.

It may seem like a misguided thing for us to do, as a species, but the technology involved is pretty cool. The robot designed by the researchers can actually learn on its own, with no input from humans, and create better robots by correcting its own mistakes.

He should be in hospice. But is trying very, very hard to stay at home so he can take care of Ms. Jean. Neither one of them are capable of living without assistance now.

DALTON TRUMBO'S ... JOHNNY GOT HIS GUN (1971 original) : CLIPS - YouTube

Twitter Now Makes It Possible to Harness Every Tweet Ever | WIRED

BRANDS LOVE TWITTER. They tweet jokes, they watch what you say about them, and, yes, they reply to your complaints.

And now Twitter is giving brands an even more powerful way to understand you—and reach you—on the platform. The company said today it’s launching an API to give brands instant access to every public tweet ever—more than 500 billion tweets spanning more than nine years.

In practice, this access allows companies to review tweets from past advertising campaigns, customer service responses, or product launches to see what worked and what didn’t.

“This is a big step forward in the journey of deriving useful insights and intelligence from social data,” said Giles Palmer, chief executive of social media marketer Brandwatch. “The dream of mining this data for real-time, in-depth, unbiased insights on a global scale is getting ever closer.”

Before last year, Twitter didn’t have the tech in place to make searching every tweet ever possible. Now brands not only can search for your tweets, but use all your past tweeted thoughts to influence you in the future.

This is 'more damaging...than the Great Recession'

"This topic is still getting almost no attention—particularly among presidential candidates—but there is a case to be made that the stagnation in productivity has been more damaging to the real living standards of Americans than the Great Recession," Paul Ashworth, chief U.S. economist at Capital Economics, said in a note to clients. "Productivity growth is the primary driver of gains in real wages." (Tweet this)

Indeed, wage growth has been stuck around 2 percent or lower for pretty much all of the post-recessionary period. So while stock market investors enjoy the fruits of never-before-seen easy monetary policy—with the S&P 500 up about 210 percent since March 2009—it's been a different story for much of the labor force.

"The longer this slump goes on, the harder it is to believe that the economy will just snap out of it," Ashworth said. "For all the talk of secular stagnation and permanently weak demand, it may be supply-side problems that are the bigger problem."

Nonfarm Business Sector: Real Output Per Hour of All Persons - FRED - St. Louis Fed

Light up a stage and wax an infidel like lopping off a candle.

Shostakovich-The Bolt (Final) - YouTube

Leviticus 25:44-46New International Version (NIV)

44 “‘Your male and female slaves are to come from the nations around you; from them you may buy slaves. 45 You may also buy some of the temporary residents living among you and members of their clans born in your country, and they will become your property. 46 You can bequeath them to your children as inherited property and can make them slaves for life, but you must not rule over your fellow Israelites ruthlessly.

I totally invented those references ... to dramatize, if you will, ETHICAL CODE.

Samuel 15:1-9New International Version (NIV)

The Lord Rejects Saul as King

15 Samuel said to Saul, “I am the one the Lord sent to anoint you king over his people Israel; so listen now to the message from the Lord. 2 This is what the Lord Almighty says: ‘I will punish the Amalekites for what they did to Israel when they waylaid them as they came up from Egypt. 3 Now go, attack the Amalekites and totally destroy[a] all that belongs to them. Do not spare them; put to death men and women, children and infants, cattle and sheep, camels and donkeys.’”

4 So Saul summoned the men and mustered them at Telaim—two hundred thousand foot soldiers and ten thousand from Judah. 5 Saul went to the city of Amalek and set an ambush in the ravine. 6 Then he said to the Kenites, “Go away, leave the Amalekites so that I do not destroy you along with them; for you showed kindness to all the Israelites when they came up out of Egypt.” So the Kenites moved away from the Amalekites.

7 Then Saul attacked the Amalekites all the way from Havilah to Shur, near the eastern border of Egypt. 8 He took Agag king of the Amalekites alive, and all his people he totally destroyed with the sword. 9 But Saul and the army spared Agag and the best of the sheep and cattle, the fat calves[b] and lambs—everything that was good. These they were unwilling to destroy completely, but everything that was despised and weak they totally destroyed.

BUT IS IT ETHICAL? Consult Deut. 57:14, Lev. 12:6: 83, Mark 31:4, and Thessalonians.

And when the days of her purifying are fulfilled, for a son, or for a daughter, she shall bring a lamb of the first year for a burnt offering, and a young pigeon, or a turtledove, for a sin offering, unto the door of the tabernacle of the congregation, unto the priest: 7Who shall offer it before the LORD, and make an atonement for her; and she shall be cleansed from the issue of her blood. This is the law for her that hath born a male or a female. 8And if she be not able to bring a lamb, then she shall bring two turtles, or two young pigeons; the one for the burnt offering, and the other for a sin offering: and the priest shall make an atonement for her, and she shall be clean.

Again he began to teach beside the sea. And a very large crowd gathered about him, so that he got into a boat and sat in it on the sea; and the whole crowd was beside the sea on the land. 2 And he taught them many things in parables, and in his teaching he said to them: 3 “Listen! A sower went out to sow. 4 And as he sowed, some seed fell along the path, and the birds came and devoured it. 5 Other seed fell on rocky ground, where it had not much soil, and immediately it sprang up, since it had no depth of soil; 6 and when the sun rose it was scorched, and since it had no root it withered away. 7 Other seed fell among thorns and the thorns grew up and choked it, and it yielded no grain. 8 And other seeds fell into good soil and brought forth grain, growing up and increasing and yielding thirtyfold and sixtyfold and a hundredfold.” 9 And he said, “He who has ears to hear, let him hear.”

to start the next four years of gridlock

Gridlock is preferable to knee jerk stupidity.

Why it's getting easier to find a $3 million mortgage than a $300k one - Fortune

The WSJ said J.P. Morgan will cut its minimum downpayment for loans between $1.5 million and $3 million to 15% from 20% and also cut the minimum required FICO credit score required to 680 from 740 for loans tied to primary single-family purchases, second homes and selected refinancings.

That brings the blue-blood lender into line with Wells Fargo and PNC, which had both cut their minimum downpayments last year. But it’s still a far cry from the heady pre-crisis days where lenders would often waive downpayments entirely and not bother checking borrowers’ claims regarding their credit-worthiness.

The fight for the higher end of the market reflects how much better that sector is performing. While sales of single-family homes priced between $750,000 and $1 million rose 21% on the year in June, those for homes worth between $100,000 and $250,000 fell 3%, according to the National Association of Realtors. The WSJ quoted data from Inside Mortgage Finance showing that originations of ‘jumbo’ mortgages (over $417,000) were up 58% year-on-year in the second quarter at $93 billion–a level not seen since 2007. Jumbos now account for 20% of the new loan market by dollar volume, up from 5.5% in 2009.

1/5 of Millennials financially support their parents, says new survey - Yahoo Finance

A new study from TD Ameritrade finds that 22% of Americans are giving financial support to an aging parent or an adult child, and sometimes to both. On average, the cost is $12,000 per year, and that's on top of all the other costs of running a household.

And it’s not a generational thing.

“Not only are Baby Boomers helping their children,” says Matthew Sadowsky, director of retirement at TD Ameritrade, but what is surprising he says is that “Millennials and Gen Xers are financially supporting their parents and in some cases their adult children as well to a much a greater degree than [before].”

So much for that "living in their parents' basement" narrative.

“Roughly 20% of Millennials that we surveyed are providing financial support to their parents,” Sadowsky says. “It’s not just the case that Millennials are sitting home after college and parents are ready to get rid of them.”

San Francisco Fed study says only a crash could have prevented housing bubble - MarketWatch

If only the Federal Reserve had hiked rates in response to the boom in house prices, the U.S. could have avoided the housing bubble that caused the Great Recession.

At least that’s the argument, but it’s one a new San Francisco Fed study dismisses in an article published Monday.

A research article by San Francisco Fed economist Oscar Jorda, University of Bonn professor Moritz Schularick and University of California Davis professor Alan Taylor examined just how high interest rates would have had to have been to keep house prices on trend.

Model shows how surge in wealth inequality may be reversed

(—For many Americans, the single biggest problem facing the country is the growing wealth inequality. Based on income tax data, wealth inequality in the US has steadily increased since the mid-1980s, with the top 10% of the population currently owning about 73% of the country's wealth. In a new paper published in PLOS ONE, researchers have quantitatively analyzed several of the major factors that affect wealth inequality dynamics, and found that the most crucial factor associated with the recent surge in wealth inequality since the '80s has been the dramatic decrease in personal savings, followed closely by a large increase in the dominance of capital income over labor income.

Taking these findings a step further, the researchers showed in their model that reversing these two trends can prevent and even reverse a further increase in wealth inequality in the future. The researchers hope that the findings will lead to policies that reproduce these results in the real world. But progress in this area may not even have to rely solely on policy changes, as the researchers note that the 2008 financial crisis has caused Americans to save more money, potentially bringing an opportunity to restrain some of the growth in wealth inequality.

The US rental market is on fire.

On Tuesday morning we got the latest report on rental and homeowner vacancies from the Census Bureau, which showed that rents are soaring and vacancies in the US have plummeted to their lowest level since the mid-'80s.

And so it looks like the much-maligned millennial generation is moving out of their parents' basement and into apartments or rental homes as they look to get themselves settled before buying a home.

As for the more advanced millennials, Tuesday also saw the release of household formation data that showed household formation against last year is absolutely surging.

Read more: US rental market vacancies - Business Insider

Puerto Rico Need to Cut Debt Doubted by Hedge-Fund Backed Study - Bloomberg Business

A report released by a group of hedge funds that own $5.2 billion of Puerto Rico bonds said the island’s central government can pay what it owes, showing the resistance the commonwealth faces as it seeks to restructure its $72 billion of debt.

Budget cuts and tax increases would allow Puerto Rico to stabilize its finances, according to a report released Sunday that was commissioned by a group of more than three dozen funds, which includes Fir Tree Partners, Brigade Capital Management and Monarch Alternative Capital.

“The debt in the medium-term is sustainable,” Claudio Loser, a former International Monetary Fund economist who worked on the report, told reporters Sunday. “A global statement saying that the debt requires restructuring, we feel, is absolutely not substantiated.”

The hedge funds are among the first bondholders to challenge Puerto Rico’s claim last month that it needs to put off debt payments that have swelled from years of borrowing. Governor Alejandro Garcia Padilla’s administration plans to draft a proposal by Sept. 1 for restructuring its debt, an unprecedented step in the U.S. municipal-bond market that’s likely to be challenged in court.

Buried Secrets: A True Story of Drug Running, Black Magic, and Human Sacrifice: Edward Humes: 9780525249467: Books

When Mark Kilroy, an American student on his spring break, disappeared in 1988 in the Mexican border town of Matamoros, an intensive search for him proved fruitless. However, a roadblock set up to catch drug smugglers led to the discovery of his mutilated body on an isolated ranch. He had been killed by a small group of believers in Palo Mayombe, an offshoot of the Santeria religion that merges Christianity and African magic. Believing that human sacrifice gave him a magical invincibility, Adolpho Constanzo, the cult's leader, used his malevolent magnetism to manipulate his followers into committing murder 24 times. Pulitzer Prize-winning reporter Humes, with access to the records of the principals involved, Drug Enforcement Agency materials, and extensive interviews, has written a chilling story of murder and religous mania. Although extremely grisly in detail, this book will be in demand. Recommended.

Mortgage Scammer Sentenced To Year In Jail | New Haven Independent

Another member of a mortgage-fraud ring that preyed on low-income New Haven neighborhoods received a federal jail sentence Wednesday.

Charles Lesser, a mortgage broker and loan officer, received the sentence, of 12 months and a day followed by three years of supervised release, in U.S. District Court in New Haven. He was also ordered to pay around $900,000 in restitution.

Seven other members of the conspiracy. masterminded by Joseph “Yossi” Levitin, have received sentences of up to five years in the case. Click here to read about that.

Lesser had faced up to 63 months in prison under federal sentencing guidelines.

Lesser’s attorney, James Ross Smart of Southport, appealed for the reduced sentence based on Lesser’s “rehabilitation, significant life-long civic engagement and good works, and his deep and essential involvement in the care, support upbringing of his large, young family.” Smart’s pre-sentencing memorandum cited Lesser’s religious observance and prior study at a yeshiva, as well as his service in a Jewish burial society.

A man checking on a friend at a Phoenix, Ariz., apartment found the grisly sight of blood-splattered walls and his friend’s self-mutilated body after he allegedly decapitated a woman and two dogs.

A call to 911 alerted Phoenix police officers of the bloodied crime scene at 9:45 a.m. Saturday when the neighbor said the suspect answered the door naked, authorities said.

The unidentified 43-year-old had apparently amputated his left arm and gouged out his right eye, the neighbor saw before backing away.

“He had been severely injured. It appears he had self-amputated his left arm from below the elbow,” Sgt. Trent Crump told the Daily News.

Self-Censoring Font Redacts Words the Feds Are Watching For | WIRED

The designer programmed a custom-made Adobe OpenType font to recognize and redact these words, taken from a list the government released three years ago in response to a Freedom of Information Act request. When a hot word from the DHS or GCH database forms, the code in the typeface automatically strikes it out, leaving your document smeared with bold, black lines.

Patch Your Chrysler Vehicle Now Against a Wireless Hacking Technique | WIRED

EARLIER THIS MONTH, a pair of security researchers used a wireless attack to disable a Jeep Cherokee as I drove it on a Missouri highway. Though it was just a demonstration, I learned that trying to drive a vehicle as it’s paralyzed by faraway hackers isn’t pleasant. Luckily for Jeep owners, there’s still time to avoid sharing that experience.

Last week, Chrysler quietly released a software update for a collection of its vehicles that have an internet-connected computer feature in their dashboard known as Uconnect. The carmaker posted a notice to its website informing its customers about a “software update to improve vehicle electronic security.” What it didn’t explain in that cryptic post is that the update includes a patch designed to prevent the attack developed by security researchers Charlie Miller and Chris Valasek, which can compromise those Uconnect computers—an optional upgrade feature that doesn’t come standard in the Chrysler vehicles—through their cellular Internet connection to tamper with dashboard functions and track their GPS coordinates.

For 2014 Jeep Cherokees in particular, Miller and Valasek have extended their attack to the vehicle’s CAN bus, the network that controls functions like steering, brakes, and transmission. That’s how they were able to wirelessly disconnect the Jeep’s engine with me behind the wheel, and later disable the brakes to send me rolling into a ditch.

Urban Institute Predicts Rental Surge Among Millennials, Minorities, Seniors | Multifamily content from National Real Estate Investor

Many apartment experts think the number of vacant apartments will rise this year, despite strong rent growth this spring. But in the long term, an increasing number of researchers expect the demand for rental apartments to keeping growing for more than a decade.

“A rental surge is coming,” according to “Headship and Homeownership: What Does the Future Hold?” a new report from the Urban Institute. “Over the next 15 years, new renters will outnumber new homeowners—causing a sustained surge of rental housing demand that will significantly affect Millennials, seniors and minorities, and expose important gaps in our current housing policies.”

Millions of new renters and fewer new homeowners will push the percentage of households that own their own home down to 61.3 percent by 2030, according to the Urban Institute. That’s a steep fall from 63.6 percent in 2013. The homeownership rate has already fallen from 66.2 percent in 2000—before the distortions of the housing boom push the homeownership rate upwards.

According to Zillow's analysis, Palo Alto residents who bought their homes in September 2006 are the most savvy property owners in the county.

In 2006, the median value of a home in Palo Alto, California, was $1.17 million. Today, that same home would be worth more than $2.4 million, a more than 105% value appreciation.

Palo Alto, located in the heart of Silicon Valley, is home to a number of wealthy tech executives, including Apple CEO Tim Cook, Google CEO Larry Page, Facebook CEO Mark Zuckerberg, and Yahoo CEO Marissa Mayer.

Richmond, California, was second in Zillow's analysis. Home values in the city, located across the Bay from San Francisco and perhaps best known for hosting a Chevron petroleum refinery, have appreciated by more than 103% since October 2011.

Read more: Palo Alto home values doubled since 2006 - Business Insider