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Fed rate cuts and a decade. A busy week also brings policy decisions from tokyo and london. Shery lets get you started with a check of the markets closed. The session in the u. S. , the s p 500 and the nasdaq closed at record highs. The biggest jump in three weeks for the s p 500. The biggest in five for the nasdaq. We have twitter and alphabet leading a tech rally on positive results. Gains coming from stronger than expected secondquarter gdp numbers. We will see a rate cut by the fed this week. A very busy week for earnings in the u. S. We are expecting more than 160 companies to report. U. S. Futures unchanged. Lets see how we are setting up for asia. After a bright start, we have seen new zealand grinding steadily lower, looking kind of flat. Nikkei futures, kospi futures also flat. Busy week of earnings out of japan particularly. 157 Companies Reporting this week. Twoy we will hear from among others. 1 5 other kospi will ....
Estate transfer tax, shortterm flip property. When a profit is being made off of the sale. If the resale is within the first year of purchase then the tax will be 24 of the retail price. Within two years, 22 . Three years, 20 . Up to five years at 14 . If you buy property and hold onto it for five years or longer it doesnt impact you at all. The tax also focuses specifically on greedy speculators. It does not apply at all to six categories. Singlefamily homes or condos, Owner Occupied tics or tenancy in commons, new construction, buildings over 30 units. When a Property Owner sells their property at a loss, and lastly, sales to create permanently Affordable Housing. We know that speculation leads to increased housing costs. There have been a number of studies showing that. Also, we know that astronomical housing cost ....
My next item is a resolution that is in support of the city of richmonds control and [speaker not understood] reduction program. Trying to support many households under water in that area. We have a part in San Francisco where households are also under water. The city of richmond has been struggling to create their [speaker not understood] reduction program. They need a majority vote and thats not been able to do what some of the pressures of councilmember in city of richmond. The joint powers of authority is a pathway, in the state of california the pathway they are choosing. I asked the City Attorney to draft legislation to [speaker not understood] powers of authority so we can join that partnership and support many of the households including San Francisco who are struggling with even with the economy the way it is right ....
Motion to affirm the certification, specifically to move item 34 and table item 35 and 36. Colleagues, supervisor wiener has made a motion as he described. Is there a seconder of that motion . Seconded by supervisor tang. Take a roll call vote on the motion. Supervisor campos . Campos aye. Supervisor dado . Chiu . Chiu aye. Supervisor cohen . Cohen aye. Supervisor farrell . Farrell no. Supervisor kim . Kim aye. Supervisor mar . Mar aye. Supervisor tang . Tackv aye. Tang aye. Supervisor wiener . Wiener aye. Supervisor yee . Yee aye. Supervisor avalos . Avalos aye. Supervisor breed . Breed aye. There are 10 ayes and one no. The Environmental Impact report is finally certified. [gavel] and then if we could go to item 24, madam clerk, which i think you already read. On item 24, supervisor campos . Aye. Campos aye. Supervisor chiu . Chiu aye. Supervisor cohen . Cohen aye. Supervisor farrell . Farrell no. Supervisor kim . Kim aye. ....
Is important. District 6 is not the only neighborhood that wants targeted Affordable Housing. So, what does this legislation do if passed . One, the legislation asks that the city establish a rolling tenyear count on the number of Affordable Housing produced in comparison to market rate luxury housing. Affordable housing is defined as 120 of average Median Income and below, according to the Mayors Office of housing, 2014 chart, this would include individuals that make 81,550 and under for a family of four 116,500. Were not even talking about just what most residents consider lowincome Affordable Housing. Were talking about the teacher, the principal, beginning firefighter, police officer, and most san ....