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America has there own Leaky Homes equivalent

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Image via Wikipedia Americas Watchdog Discovers Toxic Chinese Drywall In California & Arizona In Homes Built Between 2003 & 2007 Although not the same issue that we have here in NZ in relation to "Leaky Homes", the US Watchdog & its Homeowners Consumer Center have been leading a nation wide investigation of potentially toxic Chinese drywall. It would appear that this product was used in the construction of new dwellings in California & Arizona. Specifically, Phoenix, Tucson, in Riverside County, Fresno, Stockton, the Sacramento metro & extreme northern California. The group is saying, "if your new California, or Arizona home was built between 2003 & 2007 has a rotten egg or sulphur type smell, and or if your electrical wiring has turned black, you need to call us immediately....." LINK to full press release
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NZ Wine Exports to Hong Kong up 48%!

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Image by ttstam via Flickr Under the heading "Uncorking Opportunities" Scoop reports that the Hong Kong Trade Development Council is seeking expressions of interest to showcase a stand at their upcoming November 2009 Trade Fair. Re past trade they say..... In 2007, Hong Kong imported 20 million litres of wine from around the world, a 28% increase on the previous year (excluding sparkling wine). New Zealand wine exports to Hong Kong in the same period equated to HK$28.2million (NZ$4 million), a staggering 48% increase on the preceding year MORE HERE VIA SCOOP
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It’s Not All Subprime. Pay Option ARM’s - California’s Billion Pound Gorilla

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What a headline huh? That's the heading in this article here . Well it seems according to this article, and a great many more there's more trouble brewing on the US home loan market. So just when you thought you had heard it all, are we about too see the next round? These are yet another type of loan where you can elect a lower start repayment , but then they ratchet up as the years go by. In what looks like more pain for California, BusinessWeek reports that 25-30% of all pay option ARMs were made in California. The most of any state. Check out the above chart from BusinessWeek. And this chart from an MSNBC.COM article with data from First American Core Logic shows when its probably going to happen. Interesting next year will be.
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