These are some of the stories we’ve been following this week.
- As Congress debates reauthorizing the EB-5 immigrant investor visa program, here is a look at the program from the perspective of Indian investors.
- The City of Oakland, California has sued Wells Fargo over predatory lending practices. The suit alleges that the bank targeted minority neighborhoods for more expensive loans.
- The Des Moines Water Works has filed a lawsuit against three Iowa counties regarding extra filtration costs the utility has sustained to remove nitrates from agricultural runoff from the city’s drinking water. As the suit moves forward, a state legislator hopes to find another way to solve the problems brought up in the filing.
- Scientists researching earthquakes in Oklahoma say the increased geological activity is linked to wastewater injection wells associated with nearby fracking operations.
- The University of Michigan released a study stating that hydraulic fracturing companies need to do more outreach if they hope to get the public behind their endeavors.
- Manhattan Beach, California placed in the top 25 cities of property value growth in Los Angeles County this year. Out of 88 cities in the county, Manhattan Beach was fifth. The entire county’s property value is up more than 6% from last year.
- A New Jersey landfill is causing a stink with residents, but a citizen group is not allowed to join a lawsuit between the state and the owners of the landfill. The state took over the landfill about 2 years ago to try to stop the spread of a gas from the landfill. The site owners sued the New Jersey Department of Environmental Protection over the takeover of the landfill.
- A homeowner in England said he will be looking for compensation if his property value drops because of a nearby warehouse development.
- In Tucker v. Commissioner, the U.S. Tax Court decided that a just because a property’s value has dropped to less than the amount owed on the property, that does not necessarily create a deductible loss.
- Despite the solid real estate market, a report from Zillow shows that one in four U.S. homes lost value in 2014. While Baltimore, Philadelphia, and Washington, DC saw large losses, few homes in hot markets such as Denver, Dallas, San José, and San Francisco lost value.
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