Reliving the American dream

For the vast majority of Americans, living the American dream resonates a successful life. This concept, introduced by historian John Truslow Adams, has inspired people to reach for their destiny through hard work and freedom of choice. However, with a whopping $130,000 a year, the estimated annual cost for the average family of four according to USA Today, is the American dream a dying platitude?

Several middle-class Americans today think that living the American dream is getting harder each day. CNNMoney's American Dream Poll and ORC International showed that six in 10 respondents said that the dream is unreachable. They have every reason to despair since they have gone through one of the worst recessions in recent history. And while most Americans are on the rebound, many are still suffering the recession aftermath. For them, the struggle to return to their normal lives continues.

Image Source: npr.org

Yet, difficult as it sounds, there is still much to do to recapture the dream. According to a TIME Magazine article entitled “How to restore the American dream,” there are ways to do this, but they involve arduous adjustments. One of which is embracing globalization and technology now more than ever. Another key path is moving up from doing mere consumption to making profitable investments. A third solution is having better education and training for the workforce, including job retraining and employee development.

It is time ordinary Americans rethink their perception of what the American dream is today because the notion has evolved with time since its conceptualization. Americans have to navigate through painful changes, just like what the corporate world has done.

Restoring the American dream is not easy, but there is always a way to start and sustain it in the long run. Find more related stories by visiting this Pete Scamardo blog/a>.

Gift cards: Too impersonal or most appreciated?

According to a survey by BankRate, 84 percent of Americans have received a gift card and 72 percent have given a gift card to someone. At the end of 2014, about $124 billion have been loaded onto gift cards.

Despite the growing sales of gift cards, many are still against their use. The holidays, they say, are all about “showing family and friends that you care for them.” There is value in the effort made to look for a gift and in the thoughts put into giving it to someone. Instead of saying “here’s $25 you can spend on WalMart,” the giver can instead be saying “I remembered how you’ve been collecting trinkets like this so I decided to add another one to your collection.” This is also like saying that the giver keeps the receiver in their thoughts and cares a lot about them.

Image Source: seadogboatingsolutions.com

On the other hand, gift cards are still appealing to others. Adults who want something particular are often too shy to ask someone else to purchase it for them. Gift cards, meanwhile, allow friends and family members to contribute to their budget for that item and ease the guilt of spending too much. Additionally, many people (three out of four, according to online retailer Rakuten) confess to disliking or not being able to use the gifts that they received.

Gift-giving is an activity with no guarantees. Sometimes all the effort put in by the giver isn’t appreciated by the recipient. Other times, even the simplest of gifts could mean a lot to someone. All of this highlight the importance of sharing feelings outright. For at least once every year, people have the opportunity to say “I love you, I appreciate you, I’m thankful that you’re with me.” The gift is merely the icebreaker.

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REPOST: 7 secrets of packing a car for holiday travel

People always worry about packing enough for when they travel. This article from Observer-reporter.com shares some simple tips to pack for a road trip.
 

When planning a holiday road trip, finding creative ways to utilize vehicle space is essential. Here are some resourceful tips for making the best use of any vehicle storage capacity. | Image Source: observer-reporter.com

When it comes to packing a vehicle for holiday travel, the guy with the red suit and the white beard is the unquestioned master. For those who don't possess a magic sack with unlimited storage capacity, packing a vehicle for a family holiday trip is a critical logistical skill. Those who master it tend to have holiday adventures that are festive and fun. Those who don't can end up frustrated and frazzled and find themselves on the naughty list.


If a holiday road trip is on your schedule, here are some tips that can help it go smoothly:


Make a list and check it twice


Prior to the trip, make a comprehensive list. Prioritize according to the things you must take and the things that might be nice to have. When packing time comes, you won't forget any essentials and you will have already decided what things you can do without if there isn't enough space.


Plan for safety


Winter travel presents hazards. Although you won't be starting from the North Pole, you still could need items like tire chains and a tow strap, depending on your destination and the areas through which you will travel. Even with limited space, it is always important to have jumper cables, flares, a flashlight, a fully charged cell phone and a car charger. If you have a roadside protection plan included with your car insurance, make sure you have that information readily available. Also, you might want to have a backup service like AAA. If you break down on a holiday or a weekend, sometimes it can be difficult to connect with actual humans when you call those 24-hour emergency numbers.


Find extra space


Almost every vehicle has nooks and crannies that are easy to overlook. Many cars have room under and behind seats. Some have a shelf behind the back window where you can stash a few items, as long as you don't obstruct the rear view. If your vehicle has a spare tire compartment in the bottom or side of the trunk, remove the cover and you will likely find enough extra space for a few small items.


Pack smart


USA Today advises, “Many travel experts … agree that rolling is superior to folding. Tightly rolled clothes take up less space than folded ones. Plus, they're less prone to getting deep wrinkles from fold creases.” Also, remember to fill hollow spaces like those in shoes and boots. Pack them with socks, personal care items, or a rolled up shirt or jacket.


Organize the trunk


Hard-sided luggage offers better protection for fragile items, but it doesn't allow much flexibility in tight spots. Two medium-size bags will likely fit better in the trunk than one large suitcase. In general, put heavier, bulky items on the bottom and toward the front of the cargo area. Keep more fragile items like electronics at the top.


Be casual

Traveling is stressful. Make it easier on yourself by resolve to have a laid-back, relaxed attitude, and leave dresses, suits, hair curlers, dress shoes and blow dryers at home. If you think something needs to be on a hanger, then reconsider taking it. It will save space in the car and help you remember that your focus is on a fun, calm, casual trip.


Take it slow


Travelsense.org notes that winter driving is much more fatiguing than summer, so plan for slower speeds and more rest stops. The human cargo you carry is far more valuable than any of the possessions you've jammed into your vehicle. As Santa has proven for hundreds of years, the key to holiday travel is to arrive safely at your destination.


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Follow your stomach: The best road diners in America

Image Source: genius.com

For as long as there have been truck drivers, there have been roadside attractions to assist them in their long-haul journey. These attractions range from areas for them to rest to diners that offer inexpensive yet excellent dishes. The “diner” in fact has become an American standard; and is as much a part of this culture as French fries and burgers. In fact, it can be argued that diners, with their classic lines and signature fonts, bring a sense of nostalgia and have helped define popular culture. A single definition for these staples cannot be made; but many food enthusiasts and average Joes alike know a good diner when they see one.

Listed below are some of the most highly recommended diners, as suggested by several food magazines and food blogs:

Cookin’ From Scratch in Doolittle, Missouri

Along the old Route 66, this diner is a favorite of many truckers. Newbies should just look for an El Camino with a big chicken on top, and take that exit. This diner specializes in pan-fried chicken, which are cooked piece-by-piece in iron skillets. This process gives the signature crispy, non-greasy exterior that Cookin’ From Scratch is known for. Individuals should try “The Big Pig,” the diner’s signature dish, which is a piece of juicy pork tenderloin.

Image Source: theguardian.com

Blue Gate Restaurant and Bakery in Shipshewana, Indiana

This diner is known for their fresh baked pies and homemade bread. This eatery is located in the heart of Amish country, so materials are locally sourced and fresh.

Image Source: riegsecker.com

Space Aliens Grill & Bar in Bismarck, North Dakota

Some diners are not only recognized for their food, but for their funky exterior as well. A classic example is the Space Aliens Grill & Bar. Keeping up with its name, the owners of this diner made the exterior as sci-fi and “alien-y” as possible. But that’s not the only reason for stopping by. The diner is also known for its succulent ribs.

Image Source: theguardian.com

Many modern foodies may consider diners as “old news,” but the truth of the matter is, diners will be part of this society for quite some time.

Pete Scamardo is a food enthusiast who loves trying popular dining areas. For more related posts, subscribe to this blog.

New study ranks the most affordable housing markets for millennials

Contrary to how they're portrayed in media, the millennials aren't buying their own homes because of a desire to buck tradition: they want to buy one when they're sure they can afford it, and not before.

Millennials, young adults between the ages of 18 to 34, are ethnically diverse, more educated than their parents, typically struggle with student debt and limited job opportunities, and are less likely to enter into traditional marriages. These factors, combined with the unstable housing market of recent years, have led to this generation shying away from home ownership.

However, current housing affordability highs and mortgage interest lows have made owning a home a possibility for many of them.

A new study by RealtyTrac, a real estate information company and real estate marketplace, identified the most affordable housing markets for this demographic.

Topping the list of most affordable housing markets to buy is the Augusta-Richmond metropolitan area in Richmond County, GA, where the median home price is $64,100, followed by Fayetteville in Cumberland County, NC, with a median home price of $97,500. Other markets on the list include the following:

Image Source: royalstockphoto.com

• The Atlanta, Sandy Springs, and Marietta metropolitan area in Dekalb County, GA

• Jacksonville in Duval County, Florida.

• Philadelphia, Camden, and Wilmington metropolitan area in Philadelphia County, PA

• Baltimore and Townson metropolitan area in Baltimore City, MD

• Conway, Little Rock, and North Little Rock metropolitan area in Faulkner County, AR

• Columbus in Franklin County, OH

• Council Bluffs and Omaha metropolitan area in Douglas County in NE, IA.

• Milwaukee, Waukesha, and West Allis metropolitan area in Milwaukee County, WI

One of the biggest obstacles millennials when buying a home is coming up with down payments. While monthly payments might be well within their budgets, an $11,000 down payment on a home, coupled with closing and escrow fees, might seem to be too much. First-time young homebuyers should consult with a real estate professional to help them clarify their financial standing and discover opportunities for home ownership that they might not be aware of.

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Travelers' best kept secret: North Cascades National Park

Travelers who wish to escape the noise of the city and experience the beauty of nature without the crowds should consider visiting North Cascades National Park.

North Cascades National Park is located in Washington, just three hours away from Seattle. Despite its proximity to the city, the area has remained largely unspoiled and is frequented by less than 400,000 visitors per year, a far cry from the more popular Smoky Mountain National Park, which is visited by more than nine million visitors annually.

Despite rare appearance on lists of the country's most popular national parks, North Cascades National Park's breathtaking alpine landscape holds some of the most beautiful scenery in the United States. The park encompasses 504,781 acres and ranges mountain peaks as high as 10,000 feet, valleys that plummet to below 500 feet, more than 300 glaciers, numerous rivers, over 500 lakes and ponds, and numerous types of forest.

Image Source: allleavenworth.com

Flora and fauna

A traverse of the entire park from west to east is an experience in extreme changes in terrain, climate, and elevation. The west side of the park is a temperate rainforest, while a dry continental climate characterizes the east. The upper portion is covered in snow from fall to spring. The combination has resulted in the park having one of the most diverse ecosystems in the world.

The park is home to 75 species of mammals, including gray wolves, black bears, and pikas, about 200 species of birds, including bald eagles and peregrine falcons, as well as 28 species of fish and 21 species of reptiles.

The park contains at least 1,630 vascular plant species, including Douglas fir and western red cedar trees in the lowlands and Engelmann spruce and lodgepole pines at high altitudes.

Activities

Visitors to the park can enjoy a number of activities: hiking (the park has more than 400 miles of trails), alpine trekking, kayaking, fishing, boating, camping, and horseback riding are just a few examples.

Admission and wilderness permits are free.

Travelers who want to experience North Cascades National Park should plan their visit for between mid-June and late-September, when the weather in the park is at its best and most of the trails are free from snow.

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Why it's better to live in American than anywhere else

A lot of folks across the globe do not view America with favor. But no matter how much disfavor they show, their hunger for everything American never really subsides. Their secret love for America lives on and they keep coming back to this land for a staggering number of reasons.

This is where the good grub is.

From curated cupcakes and unlimited refills to finger-lickin’ supersized burgers, American food spells B-I-G, affordable, and fast. The nation is also the home of varieties of culinary experimentation, like the world-famous cronut. All-you-can eat buffets proliferate in every street corner, which are uncommon in many countries.

Image Source: americabyrail.com

There’s endless freedom everywhere.

“Freedom is nothing else but a chance to be better,” Albert Camus once said. He proved his words right because so much about America is a result of the fight for freedom. There’s freedom of speech to freedom of religion. Not to mention the sheer number of what is legal in many states, which are unthinkable in several countries.

Things work based on convenience.

Having 24/7 pharmacies and drive-through fast food outlets is the standard in America. In other countries, this is impossible to have.

There’s unity in diversity.

America is a lodestone of different races, nationalities, religions, and genders. It attracts different people who, together, recognize various skills sets, orientation, backgrounds, and attitudes. This very same diversity encourages people to recognize things other than what they consider normal and usual. Putting one thing and another together, can create, generate, and innovate for the common good.
Once in a while, it’s nice to sit back and take pride in America and everything it offers. This veers the mind from inimical forces to focus on the good, instead.

Read more about American living on this Pete Scamardo Twitter account.

REPOST: 3 spooky Halloween road trips in the Midwest

Hungry for a perfect getaway this Halloween? Be sure to bring a travel companion as this article from the Indy Star lists down three haunted places that you need to see.

(Photo: Athens County Convention and Visitor Bureau ) | Image Source: indystar.com

Every Midwest town has a ghost story or two, but some places seem to attract more ghostly activity than others.

In Paulding, Mich., locals report a mysterious phenomenon called the Paulding Light. In Decatur, Ill., the ghosts of bootleggers and theater stagehands haunt buildings throughout the city. And in Athens, Ohio, a former mental hospital is packed with the ghosts of disgruntled patients.

All three are perfect choices for a spooky Halloween road trip this weekend.

1. Paulding, Mich.

Located on Michigan's Upper Peninsula, the tiny town of Paulding is known for a phenomenon called the Paulding Light.

Pull up alongside U.S. 45 in the evening, and you're likely to see a series of mysterious lights, which appear to float about five feet in the air.

Legend says the lights are the ghostly lanterns of a railroad brakeman who was killed trying to prevent a train accident.

The Paulding Light appeared on Syfy's "Fact or Faked: Paranormal Files" in 2010, and the investigation found no source for the phenomenon.

But students at Michigan Technological University recently suggested otherwise, showing that the lights are actually the headlights and taillights of cars on a nearby highway. Because of atmospheric conditions, the light becomes distorted, giving it a ghostly appearance.

Despite that explanation, a steady stream of visitors still comes to see the phenomenon firsthand.

2. Decatur, Ill.

According to legend, Decatur has been doomed from the beginning, when it was built atop a cluster of Native American burial grounds.

In the 1850s, the town became known as Hell's Half Acre because of its brothels, distilleries and gambling activity. For decades it retained its reputation as a hotbed of political corruption, prostitution, bootlegging and other criminal activity, including plenty of murders.

Today, one of the city's most haunted spots is the Lincoln Square Theater, which opened in 1916. It replaced a hotel that had burned down the previous year, killing two men.

Locals say the theater is haunted by multiple spirits, including a vaudeville stagehand named Red.

The theater is one of several stops on the Haunted Decatur history tour (www.haunteddecatur.com), which has been named one of the "most authentic" ghost tours in the Midwest.

3. Athens, Ohio

Athens has been named one of the most haunted cities in America — perhaps because five of its cemeteries allegedly form the shape of a pentagram on a map.

The epicenter of ghostly activity is The Ridges, formerly a mental hospital. The ghosts of former patients are said to roam the halls. Locals have also noted unusual activity at the The Ridges cemeteries, where some graves were marked with patient numbers rather than names.

Ghost hunters also visit the Moonville Tunnel, which is allegedly haunted by a railroad worker who was killed there.

Hungry for more hauntings? Head to the West State Street Cemetery, where a stone angel presides over the graves of unknown soldiers. If you're lucky, you may catch her crying.

Go to this Pete Scamardo Facebook page for more travel destinations.

REPOST: The Growing Use of Social Media in Travel

Social media is already an integral part of people's everyday lives. This article by Bryan Levy of Guardian Liberty Voice talks about social media's role in traveling.
 

Image Source: guardianlv.com

Facebook, Twitter and Instagram, pictures of people on vacation are all over social media. Beautiful locations, scenic beaches, and more show up in news feeds with regularity, but this is just one way to use social media when traveling. Beyond just vacationers, the travel industry has also embraced the social media sites. Some sites cater exclusively to travelers, setting up sight-seeing partners or people looking to offset costs by traveling with others, but there is also a dark side to using social media for traveling.

According to the European Travel Commission, almost 20 percent of people consult social media to decide where they want to go on vacation. Not only do they use social media for deciding on location, vacationers are also searching social media sites to see what restaurants or sightseeing destinations their friends have been to. The European Travel Commission also found that Asian users use of social media for travel is almost double that of American or European users.

The sources people are using for research are disparate. Travelers rely on professional online reviews five to eight percent more than they rely on user forums, and that number drops drastically for those who use what their friends might like on Facebook. When it comes to dedicated trip sites like TripAdvisor, people are more likely to trust that information than others. Context becomes an important part of the equation. If a site has a reputation for being knowledgeable about traveling, and its commenters are seen as credible, those sites are trusted the most. Eighty percent of travelers read many reviews, and TripAdvisor is the most respected.

Other sites are closer to the more traditional social media models. These sites do different things to facilitate the travel process. Airbnb allows people to rent out their personal homes to travelers, though users should always be careful. There are increasing reports of people renting through Airbnb who end up squatting in rented places, making life difficult from the rightful owners of a house or apartment for months on end. Some sites connect travelers to one another. These sites allow for users to connect with people already living in the city. They can connect for meals or sightseeing or for a person who knows their way around a city. Users should be aware, though, that some of these people may not be exactly above-board. Jezebel has reported that some of the profile on these kinds of sites may be used for prostitution.

There are other things that individuals are advised to remember when using social media while traveling. While on vacation, holiday makers should never be too open on Facebook or Twitter. There have been police reports of criminals monitoring these social networks to see when people are away and breaking into their homes. While using social media for research could be beneficial, too much openness may lead to other problems.

The world continues to move online, and the travel industry is no different. While people still need to leave their houses to do the actual traveling, it has never been easier to plan a trip from the comfort of one’s own home.


Pete Scamardo is an avid traveler. Follow him on Twitter for more travel tips and trivia.

REPOST: 10 Tech Tips For The Ultimate Outdoor Adventure

Kristin Scheel of Sfist.com shares 10 useful apps for nature-loving travelers in this article below.

Get outside using your smartphone or laptop (Photo by Kristin Scheel). | Image Source: sfist.com

 Earlier this summer, my friend and I started something we call Uber hikes, which is exactly what it sounds like: We drive to a trailhead, walk as far as we like, and then call an Uber back to our car. We felt slightly ashamed the first time, but for less than a minute. And then we enjoyed the complimentary mini bottle of water provided by our driver.

Here are 10 other ways that technology can lead you back to nature.

Transit And Trails

Stop, right now, wherever you are, and download the Transit and Trails app. Plug in your address and find your nearest exit into the wild. Co- Founder Ryan Branciforte says one goal of T&T is to get people to use existing public transportation to get away, not just around. Unfortunately, there are zero trailheads found near my apartment in the Mission, but the Transit feature shows how easy it is to hop a bus to the nearest one. The Trips feature will lead you from the Caltrain station to the top of Mt. Tam!

Tahoe Beaches App

Headed to the Lake? Looking for some shade? Check out the Lake Tahoe Beaches app. Using feature filters, you can search for a beach that is wheelchair accessible, allows barbecues, overnight parking, and dogs, shows you where to rent a kayak or a tube, find nets for your volleyball team, and the nearest place to buy ice. If you haven't been to Tahoe in the summer, what are you waiting for? Summer is all about The Lake.

Take Your Phone Underwater

For anyone who has accidentally laundered their phone or dropped it in the lake while documenting a rowboat picnic date, you might consider one of these waterproof smartphone cases. Not just for accident proofing, the cases will allow you to take crazy underwater videos of yourself while scuba diving.

Weekend Sherpa

Weekend Sherpa is an email list started in 2006, which is so long ago that most of the people I talked to could not remember that far back and how they first learned of it — they just know they get it! Weekend Sherpa sends you weekly posts full of excellent things to do in the outdoors in Northern or Southern California. A typical post, dated July 24 includes a list of Mt. Tam picnic sites, including the West Point Inn, which makes this the third time I’ve heard “West Point Inn” in one week, so either everyone I know is a Weekend Sherpa, or the Weekend Sherpa is just that tuned into the seasonal zeitgeist.

Project NOAH

A great app that doesn't require building an ark or extracting promises from God, Project NOAH lets you share and compare wildlife sightings as you roam the earth. It's a new way of saying, “I tagged my first elk.” Or, oh look, a double rainbow!”

Turn Your Camping Stove Into A Charging Station

When I was married, I went camping exactly one time because my partner did not enjoy being so far from outlets. On the second night, when I found him glumly poking the campfire, after everyone else had fallen asleep, I had to admit that his camping experience would only be improved by a good game of World of Warcraft. We might still be married if only we had had this BioLite CampStove, a campstove that converts wood fire into electricity to charge your portable devices.

Warm Showers

What if at the end of Burning Man you said fuck it and just kept going, Thelma and Louise style. Except on a bike. But maybe you don't want to go it alone. Well, say no more: Warm Showersis a social network for touring cyclists. Register to receive or provide a place to shower, a couch, or a room. If you can't spare the time for a bike tour, no matter, this is a great way to live vicariously through your guests and their travels. 

Reserve Campsites Online

Did you know that you can reserve a campsite on Angel Island, the second largest island in the Bay, which is a state park and historic landmark and accessible only by boat or ferry. The island is supremely quiet at night with uninterrupted views of the city and surrounding islands. Reserve a spot at the state park reservation system, but warning it fills up fast. If you're a hiker and biker, there is an amazing loophole in the campsite reservations system just for you. Last minute space is often available at campgrounds for hikers and bikers. Check out the list here. It's first come, first served and you do actually have to hike or bike — fakers will be easily found out! When they ask you where you came in from, don't say "the parking lot."

Golden Gate Park Field Guide

Stuck in the City? This Academy of Sciences app tell you what the Bison are doing in the Buffalo Paddock, when the California Lilac will be blooming, and the fastest way from the Angling Pools to the lawn bowling greens. Or for more whimsical park experience, try the “adventures” feature, for recommended walks and destinations within the park. The interactive site invites sharing. If you were to notice a raccoon mother defending her den on the trail by the Chain of Lakes, you can upload photos and leave character notes and observations.

Use Your iPhone As A Compass 

Isabel Jagoe, formerly of Traction advertising agency in the Tenderloin and now a certified forest schools teacher in Yorkshire, aka Downton Abbey, England, recommends the basic compass tool installed on every phone for losing yourself in the moors. The iPhone compass, for example, operates using a magnetometer inside the phone and still works when you're off the grid. Within range, the compass grabs location data from the maps app and will note latitude and longitude. Other compass apps include: Orienteering Compass and Smart Compass from Google Play.

For more tips and tricks to make traveling fun and easy, follow this Pete Scamardo Twitter account.

REPOST: Real Estate Oversupply Becoming Bigger Problem For China

According to International Monetary Funds, China sector is facing a real estate oversupply problem that threatens the overall economy. This article has the details.


If you build it they will come. Eventually. That’s been the mantra of Chinese real estate developers and their lenders who have been throwing them buckets filled with yuan for the past several years. Now, an oversupply problem in second and third tier cities promises to derail the economy by as much as one percentage point, the International Monetary Fund has warned.

How important is real estate to the Chinese economy? In the year 2000, real estate accounted for around 5% of China’s GDP. By 2012 it rose three times to 15%, according to the IMF's calculations. It certainly did not decline in 2013 and 2014, despite Beijing working overtime in forcing a market correction. The IMF did not have data for the last two years.

The real estate market appears to be undergoing a correction. While a slowing of investment and construction by as much as 10% would definitely reduce growth from 7.5% to 6.5%, an orderly adjustment is still factored into the IMF’s baseline scenario.

Women look at new residential developments in Chongqing China. The International Monetary Fund says the sector is facing an oversupply problem that threatens the overall economy. Women look at new residential developments in Chongqing China. The International Monetary Fund says the sector is facing an oversupply problem that threatens the overall economy.

The IMF said in a report released on Friday that oversupply was already a big problem in the industrial northeast and in coastal cities in the north.

China’s real estate bubble is different from the price inflation that took out the U.S. economy in 2008. There is no subprime or foreclosure crisis in China. And there is not the additional worry of a mortgage backed securities bubble in the works either.

But despite those two key differences, China housing has undergone a major growth spurt in the last decade. Rich Chinese are buying up second homes as investments. And local municipalities have been funding local builders to erect housing in order to create jobs. The problem is, Chinese urbanization trends have not sped up enough to account for the new high-rises, many of which are not fully sold. Unsold properties mean less money for developers who in turn have less revenue to pay off debts. For now, many municipal lenders have been either forgiving or rolling over those debts to extend the life of the loans. Like many economists elsewhere, the IMF says the trend is unsustainable.

Impact of Market Correction

Together with construction, real estate directly accounted for 15% of 2012 GDP, a quarter of fixed-asset investment, 14% of total urban employment, and nearly 20% of bank loans, according to the IMF.

China’s real estate market has close links to several upstream and downstream industries — from cement and steel makers, to heavy equipment leasing companies.

Local governments rely on land sales to developers as an important source of funding. Like in the U.S., real estate is used as collateral for corporate sector borrowing, adding to leverage risks. Such a decline in real estate investment could significantly disrupt financial and real economic activity in China as governments will have less in their coffers and companies will have less assets to borrow against.

Changes in borrowing on account of lackluster real estate markets will first be felt in the smaller cities. Several regions are in oversupply. Residential real estate inventories have increased sharply in Tier III and IV cities, including once-hot coastal cities like Hangzhou, Dalian, Fuzhou and Wenzhou.

China’s commercial real estate also appears to be in oversupply across most regions.

In terms of residential price dynamics, Tier II and Tier III/IV cities have performed the weakest, with prices in the latter group falling on month-on-month basis recently. The hardest-hit geographical areas include the industrial northeast and the coast. To make matters worse, developers have been reluctant to cut prices because it may lead new buyers to stay on the sidelines, thinking prices will depreciate in the short term. It would also cause problems for investors, many of whom purchased properties as part of a limited liability corporation and have used those properties as leverage against other assets.

“The market is distorted by local governments’ reliance on land sales to finance spending,” the IMF report stated.

On the demand side, the market is prone to speculation since housing has shown the biggest returns over the last decade. China investors don’t have many options. The foreign markets are closed to them. Local equities have underperformed over the past five years, and interest rates are only a tad higher than they are here in the U.S., making deposit accounts and money markets unattractive.

In major urban areas throughout Shanghai and Beijing, prices appear to be overvalued and price-to-income ratios remain high—even though, thanks to rapid income growth among the wealthiest Chinese, affordability indicators have generally been improving, albeit in a skewed manner.

As of May, average residential price growth started to turn slightly negative. Transactions fell by 10% and housing starts fell 12%.

Real growth in investment fell, too, from a 20% growth rate in 2012 and 2013 to around 10% by May 2014.

The IMF said that previous downturns, such as 2008 and 2012, were driven by policies to cool the market, but this current one has come without a direct tightening of real estate policies and appears driven by overcapacity and concerns about future capital gains on behalf of investors. As a result, many Chinese home buyers are turning to overseas markets, making oversupply a greater issue than before.

The IMF’s baseline scenario assumes investment in China’s real estate market slows to around 5% this year, a 50% reduction, then outright stalls in 2015 before gradually recovering in 2016. Such a scenario takes into consideration the low, average leverage of homeowners, underlying housing demand fundamentals due to urbanization trends, and Beijing’s ability to support developers if need be. The central government can also take other measures such as financial easing for lenders, as well as removing restrictions on second and third home purchases.

On the other hand, risk of large drop in investor demand for property has increased even if underlying, medium-term home ownership demand is sound.

A mantra for China developers and their lenders is in order. It may not ring is nicely, but surely will ring true: if you build it, they might not come.

Having Two Homes In China Is Not Enough
For the truly affluent Chinese, of which there are hundreds of thousands these days, having a home in Shanghai and one in Hong Kong is passé. You've made your neighbors jealous if you have a home in Malibu. In fact, according to the National Realtors Association, Chinese buyers accounted for 12% of all the non-American buyers of California real estate in March of 2013. That puts them only behind the Canadians, which accounted for 23%. Here's the kicker: China's home buyers spent more than twice what the Canadians spent, dishing out upwards of $425,000 for a piece of the California Dream. Forbes spoke with Andrew Taylor, the Aussie CEO of Juwai.com, China's biggest real estate source for those looking to buy overseas or connect to those who are on the prowl for property. Here's Juwai's top 10 most searched for destinations, along with comments from Taylor. Sales data not included. | Image Source: .forbes.com

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REPOST: 10 best bucket-list road trips

 A good way to relieve stress is to get up and leave it behind on a long, scenic road trip. Larry Bleiberg from USA Today shares this bucket list of road trips you shouldn't miss!

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The Great American Road Trip is a national rite of passage, says Jamie Jensen, author of Road Trip USA (Avalon, $29.99), a comprehensive guide in its sixth edition. "Before you vote, you should be required to drive across the country and see the variety of people and places," he declares. The key, he says, is to take the journey slowly, stopping to talk to people, to take detours, and to get lost. "It's a different mode of traveling. It's not a to-do list. It's kind of refreshing." He shares some favorite routes with Larry Bleiberg for USA TODAY.

Columbia River Scenic Highway, Ore.

Unlike most highways, this nearly century-old route was built purely for scenery, and it truly delivers big time. "It's just a fantastic drive and the landscape is breathtaking," Jensen says. The 75-mile winding ride from The Dalles to Troutdale starts east of Portland, taking in the sights of the Columbia Gorge. Along the way, passengers are treated to waterfalls, mountain views and plenty of pull-offs, so the driver can enjoy it too. traveloregon.com

Road trip tip: Make an easy detour on the Mount Hood Scenic Loop to Timberline Lodge, a classic mountain park hotel. "It's one of those see-it-before-you-die destinations," he says. timberlinelodge.com

Route 66, Illinois to California

From the Grapes of Wrath to pop music to the early days of television, the Mother Road is linked to the American psyche. "It touches on some of the greatest mythology in American," Jensen says. "It's Manifest Destiny." While much of the Midwest-to-Pacific route has been swallowed up by interstates, many places still preserve the original two-lane highway. "The scenery is inspiring," Jensen says, particularly the portion across the Southwest. "Every other street scene reminds you of Rain Man or some other movie." historic66.com

Road trip tip: While the Southwest offers the most famous scenery, don't neglect the start of the route in Illinois. Jensen recommends the town of Pontiac, home to two great stops, the Route 66 Association Hall of Fame & Museum and the Pontiac Oakland Auto Museum, a memorable tribute to the car brands. pontiac.org

Hill Country Hideaways, Texas

This central region of the Lone Star State provides the Texas the world knows from the movies, with deep canyons, swift rivers and undulating sagebrush plains. "It's wonderfully winding roads and proper two-lane highways," says Jensen, who recommends making a loop of state highways 335, 336 and 337. "It's the middle of nowhere. It's an elemental landscape." Traveltex.com

Road trip tip: Make sure to visit Utopia, Texas, if only for the name itself, Jensen says. "It's tiny and very pretty, lakes and rivers and trees and paradise. There are bed and breakfasts to stay in, so you can stay and enjoy the Sabinal River."utopiatexas.com

Great River Road, Minnesota to Louisiana

(Photo: experiencemississippiriver.org) | Image Source:

There's no better way to appreciate the power of the mighty Mississippi River than driving its length from north to south. "From Mark Twain to Bob Dylan to Muddy Waters, it has a place in the national psyche. It's where the West begins," Jensen says. He suggests breaking up the trip into pieces, from the unexpected hilly terrain in Wisconsin and Iowa, to the Delta region from Memphis to New Orleans.experiencemississippiriver.com

Road trip tip: Stop for a St. Louis Cardinals baseball game at Busch Stadium, located within sight of the river and the Gateway Arch. "It ties everything together in a nice way." cardinals.com

Pacific Coast Highway, San Luis Obispo to Monterey, Calif.

While California's Route 1 runs most the length of the state, Jensen calls this middle section the sweet spot, featuring the stunning scenery of Big Sur, where it twists through seaside cliffs. The stretch also passes near the wine country of Paso Robles, and the arty town of Carmel. "There are mountains, oceans and thin strip of asphalt in between, that's it. You feel like you have the whole continent at your back when you watch the sunset over the Pacific." The trip works either way, but the driver will have the best view if you head south to north. visitcalifornia.com

Road trip tip: Don't miss Hearst Castle in San Simeon. "It's kind of surreal to see this Spanish cathedral dropped down in the ranchland of Southern California."hearstcastle.org

Overseas Highway, Miami to Key West, Fla.

(Photo: Andy Newman/Florida Keys News Bureau) | Image Source:

Driving this 120-mile route connecting the Florida Keys with bridges and causeways is like piloting a hovercraft across the ocean, Jensen says. Originally developed for the Florida East Coast Railway, the route was wiped out by a hurricane in 1935 and converted to a highway. "It's you and the water half the time. You feel like you're floating. It's a wonderful sensory experience." Although it can be driven in just a few hours, take your time to stop at seafood dives and tourist traps along the way. "There are fish and chips and cold beer and that's always a pleasure." fla-keys.com

Road trip tip: Take a driving break and swim with dolphins at the Theater of the Sea in Islamorada, a nearly 70-year-old roadside attraction located in a former quarry.theaterofthesea.com

Million Dollar Highway, Silverton to Ouray, Colo.

(Photo: Mark Johnson, Boxcanyonblog.com) | Image Source:

This section of U.S. Highway 550 climbs more than two miles above sea level as it twists its way between two historic gold-mining towns. Some say the route's nickname comes from the road's fill dirt, which came from mine waste later discovered to contain gold ore. , while others insist it cost a million dollars a mile to build. "It's literally breath-taking because of the attitude, but it's a beautiful part of the world, an amazing drive with a great name and it deserves it," Jensen says. The road is part of the San Juan Skyway Scenic Byway, offering the chance for more exploration. colorado.com

Road trip tip: You can get another view of the scenery from the Durango and Silverton Narrow Gauge Railroad, which passes along the Animas River Gorge, far above rushing waters and feels like an old west adventure.durangotrain.com

Skyline Drive and Blue Ridge Parkway, Virginia and North Carolina

(Photo: Shenandoah National Park) | Image Source:

This Appalachian beautyfest starts just two hours west of Washington, D.C., and slowly winds its way along ridge lines and near historic towns as it traces the mountain range. With low speed limits, you have time to soak in the scenery along the 105-mile drive in Shenandoah National Park. Then connect with the parkway, which continues for another 469 miles on the way to Great Smoky Mountains National Park. The highlight for many is the famed Linn Cove Viaduct, an engineering marvel that winds through the treetops along the road's highest section.visitskylinedrive.org and blueridgeparkway.org

Road trip tip: Time your drive to spend time in Charlottesville, site of Thomas Jefferson's home, Monticello, and the University of Virginia. It will be a sure hit with lovers of history, shopping, food and college towns, Jensen says.visitcharlottesville.org

Black River Scenic Byway, Mich.

Often overlooked by road trippers, Michigan's Upper Peninsula offers road trip magic, with thick forests and waterfalls, and expansive Lake Superior vistas. "People who know ocean coasts think that's the only way to go, but lake views can be just as beautiful," Jensen says. While State Highway 513 is labeled a scenic byway, drivers should venture off the route. "There are old roads that don't really go anywhere but get you deep in the woods. 888-784-7328; michigan.org

Road trip tip: Wrap up your automobile adventure with a visit to auto-free Mackinac Island's Grand Hotel. "It has the world's largest front porch and they have rocking chairs." grandhotel.com

The Loneliest Road, Nevada

(Photo: TravelNevada.com) | Image Source:

The section of U.S. Highway 50 earned its name because it passes through a largely barren uninhabited region. However, the road offers plenty of distractions as it follows the Pony Express route, skirting mining camps and crossing mountain ranges covered with juniper and pine forests. "The actual driving surface is excellent. And there are gas stations and cafes along the way." Jensen says. travelnevada.com

Road trip tip: Stop at Great Basin National Park, which Jensen calls an under appreciated gem with forests of bristlecone pines, the oldest living thing on Earth. "The stars at night are phenomenal. "Lying on your back watching the shooting stars is something you'll never forget." nps.gov/grba

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Popular Restaurants in Santa Fe, New Mexico

Restaurants around America rely on local, regular patrons that provide a core revenue stream, along with tourism that can heavily increase the number of patrons who will visit. Some restaurants build a reputation and style through a long, successful tenure and, with it, a potentially strong client base with steady referrals. With a rich local history and a strong tourism industry, Santa Fe, New Mexico is home to many excellent restaurants throughout the small city.

Image Source: koat.com

The historic downtown plaza in Santa Fe is surrounded by restaurants and shops that help each other by referring clients and recommending destinations. Northern New Mexican food is slightly different than typical Tex-Mex or strictly Mexican food, relying heavily on green chile instead of salsas and hot red peppers. Green chile is a piece New Mexico heritage and pride that combines spice with rich flavor, especially when freshly roasted across the city. Popular restaurants around Santa Fe include Tomasita's, a local New Mexican favorite, along with Maria's, which claims to serve the best margaritas in the city. Fancier restaurants just off the downtown plaza include Geronimo, located on the art-rich Canyon Road.

In Santa Fe, it is quickly apparent that no Northern New Mexican restaurant would be complete with a strong selection of burgers. Unfortunately for recent tourists, the old, famous burger dive Bobcat Bites recently closed. Famous for their green-chile cheeseburgers, Bobcat Bites was located just outside of Santa Fe and was smaller than many studio apartments. As guests frequently tolerated two hour waits during off-peak hours, Bobcat was a local favorite. The owners have recently begun a new venture in downtown Santa Fe known as Santa Fe Bite, and tourists looking for the original famous location will now have to go downtown for their famous burgers.

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REPOST: America's Favorite Casual Restaurant Chains

Find out the most popular casual restaurant chains in America by reading this HuffingtonPost.com article.

Image Source: huffingtonpost.com

Market Force Information, a consumer research company, has released the results of its recent casual restaurant chain survey. The study, which polled 7,000 individuals over the age of 18, found that Maggiano's is the most popular casual restaurant chain in the country.

Of the 114 chains studied, Olive Garden initially amassed the highest number of votes. But when viewed as a calculation of votes per location, Maggiano’s ranked first.

“This is the first year we included Maggiano’s in the study, and it shot straight to the top, even surpassing Cheesecake Factory, which claimed the title the past two years,” said Janet Eden-Harris, chief marketing officer for Market Force, in a press release. “Once considered a restaurant for special occasions, Maggiano’s is now attracting a broader customer base of business professionals and families who are drawn to its indulgent, value-driven dining experience,” she said.

See the results of the survey:

Image Source: huffingtonpost.com

Market Force also broke down the survey results based on certain attributes like value, taste and more. When divided by various categories, P.F. Chang's took the lead. Besides Maggiano's and P.F. Chang's, several other chains were in the top five for all seven categories: Cheesecake Factory, Pappadeaux and Bonefish Grill.

Image Source: huffingtonpost.com

The study also broke down favorite chains by type of cuisine, such as Italian food or breakfast food. Here are the results:

Image Source: huffingtonpost.com

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Southeast Asian beaches worth visiting

My first few years as a traveler were spent touring different islands around the world.

In my opinion, I can say that the most beautiful ones are in Southeast Asia as the region offers tourists many opportunities to enjoy both late night beach parties and vast areas of biodiversity along the seemingly endless coastlines of the region.

Here, I have listed down some Southeast Asian beaches you will not want to miss:

Image Source: tripadvisor.com

Koh Lanta, Thailand. My friends and I went to Koh Lanta during the island’s off-season. Its long, soft beaches offer lots of privacy. It’s very different from its neighboring islands because of its seclusion and pleasant bungalows, which in my opinion are better than the typical high-rise resorts found in Phuket.

Image Source: vietnameasytravel.com

Nha Trang, Vietnam. Nha Trang is easily accessible in Vietnam and is one of the most popular seaside resorts in the country. Despite its fast development, Nha Trang is more than a pretty strip of sand as it still captures the essence of a traditional fishing village with the local fishing community happy to cook the catch of the day at very reasonable prices. Furthermore, its beaches also have some of the best scuba diving spots in the region.

Image Source: travelonline.ph

El Nido, Philippines. This beach is naturally idyllic and alluring, immersing visitors in breathtaking white sand and turquoise waters. It is also an excellent place for adventure activities such as snorkeling and rock climbing on the nearby cliffs.


Bali, Indonesia. The beaches of South Bali are wide, clean, and busy. Other than its wonderful beaches, Bali is host to beautiful temples that are spread throughout the island, lending tourists a feeling of spirituality.

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