$150 HOUSE SELLER EXPECTS TO REFUND 500 IDENTICAL OFFERS    
The real estate agent who’s been trying to sell his Heights bungalow for $150 tells reporter Paul Takahashi that — barring an “incredible surge” of new applications and fees before the June 13 deadline — he’ll be refunding the approximately 500 $150 offer fees he’s received so far for the property. For now, he says, he’s organizing his emails to filter out the more than 1,500 essays he received from would-be homebuyers who somehow got the idea that Wachs would sell them the 2-bedroom, 1-bath property even if they didn’t submit the required fee from the 500 or so who followed his instructions. All that sorting is “a time-consuming and boring” task, he tells Takahashi. Wachs had hoped the application fees would add up to the unspecified amount between $265K and $550 he figures his family’s home at 213 E. 23rd St. is worth. [Houston Business Journal; previously on Swamplot] Photo: $150 House
			
“Biggert-Watters would have destroyed the home market in many of Galveston’s West End beach communities. My wife and I were looking at homes just as the revised rate plan went into effect in late 2013. The quote I received for JUST FLOOD INSURANCE on a $250K house was $40,000 per year. As long as the government allows federally backed mortgages in these areas, they will have to subsidize the insurance rates. It really is that simple. If the rates aren’t subsidized, the market will collapse for these homes. It will be a vicious circle. Those that need a mortgage to afford a home won’t be able to afford insurance. Those who own a home with a mortgage won’t be able to afford insurance. Homes will only be marketable to cash buyers who can self-insure. How much would you pay for a home that you could only market via an owner-financed or cash transaction? A property that would essentially be unmarketable to buyers via traditional mortgage.” [
“The TIRZ system benefits high-dollar commercial areas and essentially ignores poorer neighborhoods that are primarily residential,” writes reporter Steve Jansen in 
That pipe break spotted underneath an I-45 South overpass 
“There is no market at all for flood insurance. It’s a massive federal subsidy that is merely administered by private companies.
You can’t effectively insure against floods.
This is one of those things many Texans like to ignore — that our coastal development is highly subsidized in the form of the government-backed NFIP.” [
On a recent visit to College Station, Rice and UT Grad Rainey Knudson tries to get past Texas A&M’s fortress chic: “So yes: to this outsider anyway, the A&M campus feels unattractive, humorless and a little silly. 
The owner of Rice Village dim sum spot Yum Yum Cha tells Eric Sandler that Rice University’s management company “can’t decide what they’re going to do” with the building it bought earlier at the corner of Times Blvd. and Kelvin St., but that demolition is possible. Yum Yum Cha was offered only a 6-month renewal on its lease. Instead, the restaurant, which has occupied the space at 2435 Times Blvd. for 10 years, 
“Here’s something a little off topic but has to do with 
A group looking to establish Houston’s first-ever combo café and cat lounge is focusing its search on existing retail or former restaurant spaces to lease in the Montrose, Rice Village, or West University areas. The website for Lola’s Cat Café says the new venue will be “more than just a coffee shop with cats.” Instead, it’ll be a hangout for people “who are either looking to adopt a cat or would like to 
Metro says it’ll be ready to go with its 
“Does anybody else feel Houston looks really great in a flood? Other cities have mountains or snow or awesome historic architecture, colorful boisterous festivals . . . But from what I see, flooded Houston is green and peaceful — the perfect spot to live!” [
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