Thursday, July 26, 2012

Deal of the Day: Qmadix Snap-On Cover w/ Holster for Samsung Galaxy S3

Deal of the DayThe July 25 ShopAndroid.com Deal of the Day is the Qmadix Snap-On Cover w/ Holster for Samsung Galaxy S3. This hard shell case is made of a strong polycarbonate with rubberized sides to help absorb impact and features a retractable kickstand which is built-in the back of the case. The included holster has a ratcheting swivel clip that can be used in the horizontal or vertical position.

The Qmadix Snap-On Cover w/ Holster is available for just $19.95, 43% off today only. Backed by our 60-day return policy, fast shipping and friendly support.  Grab yours while supplies last!



Source: http://feedproxy.google.com/~r/androidcentral/~3/jCI4eADC5P4/story01.htm

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Wednesday, July 25, 2012

Unprecedented: Penn State Admits Culpability, Leading To Legal ...

In order to see the NCAA deliver a quick death, Penn State 'fessed up to the entire scandal as documented in the Freeh report. What's this mean for the coming wave of civil lawsuits and other legal matters?

Jul 24, 2012 - Lawyers hate the word "unprecedented," moreso than any word other than "billable." That's because we are taught through precedent; past cases are supposed to instruct future cases. Griswold v. Connecticut leads to Roe v. Wade and so forth. This case law method means lawyers are adept at learning a system as it is, but less so in predicting the future.

So when something unprecedented happens we groan because nobody taught us how to deal with it. Look at any bankruptcy case; all of the contracts involved couldn't anticipate something "unprecedented" like, say, Lehman Brothers losing all its money. So you can bet Penn State's lawyers were pretty angry that they had to agree to an unprecedented consent decree.

But it's not just the lawyers who should be angry here. The unprecedented consent decree will have reverberations that will rattle people even tangentially involved in the cases. Let's take a look at all the upheaval that it will sow:

  • Penn State admitting culpability: Penn State's lawyers did an admirable job shifting blame to Graham Spanier in the consent decree, but ultimately the concept of respondeat superior (you're responsible for your employees) will mean that they will bear some liability in forthcoming lawsuits from Sandusky victims. An admission of guilt in a consent decree is usually not admissible as evidence in civil lawsuits because, as a matter of public policy, we want people to settle disputes out of court. This is codified in Rule 408 of the Federal Rules of Evidence. Normally, that would mean that Sandusky's victims could not use the consent decree as proof that Penn State was guilty of a cover up. But one of the reasons why this consent decree is unprecedented is that there was no underlying dispute between Penn State and the NCAA. Usually there has to be some remote possibility of litigation for a party to invoke FRE 408, but does anyone believe the NCAA would have actually sued Penn State? Sandusky's victims could very well use Penn State's statements against them in court because Penn State signed a consent decree that does not resolve a potential dispute.
  • Athletic Department Budget: The indefatigable Sara Ganim has already reported that Penn State will tap into the athletic budget's capital accounts and borrow against the football program's future earnings to pay down the unprecedented $60 million fine. While Mark Emmert had the best of intentions, this means the people stung hardest by the fine will be the non-revenue sports, like Penn State's emerging wrestling program. And borrowing against future earnings of a soon-to-be strapped football program is a great way to pay a ton of interest. Just ask SMU how easy it is to rebuild after a major NCAA penalty. Borrowing against Penn State's future football earnings is a speculative scheme and the interest payments could cripple the athletic department for years to come. Or they could pay them off on time. But nobody knows what will happen with their budget.
  • Bill O'Brien: Don't cry for Bill O'Brien; look at his contract instead. Poor guy only makes about a million or so a year. Of course, if he quits he has to pay the university back any salary that he would have earned during the term of the contract, so he's more or less locked into his job. It was a very one-sided contract, but Penn State needed to find someone who would agree to such terms as they knew that they could face unprecedented sanctions. Yet you have to wonder if Bill O'Brien has trouble sleeping tonight as he wonders what, exactly, he got himself into for the next five years. Like everyone else, he did not see this unprecedented penalty coming.
  • Economic Impact: Beaver Stadium reminds me of the real estate boom. Nobody ever thought of a scenario where Penn State would not sell 100,000-plus tickets to every home game, much like how financial analysts never thought the price of land would go down. Congratulations, Nittany Lions fans, your season tickets are mini-subprime mortgages. And that says nothing of all the vendors in State College who depended on the continued viability of the Penn State football program to stir up enough visitors to break even. Who knows what this could do to the economy of Central Pennsylvania? Don't bother asking Darren Rovell's graphing calculator. It's unprecedented, so we don't know.

All of the effects of an unprecedented event just show how awful we are at predicting the future. People are good at evaluating what is happening right now, and we can even do some decent predictions in environments where we can control variables. But trying to predict the future is mostly folly. Just look at the track record of CIA analysts, the music industry, weathermen or the framers of the Constitution, among others. The contingencies you try to prepare for are rarely the ones that you face in the future. Constructing a system based on precedent leaves you vulnerable to the unanticipated. The universe cares not for your artificial constructs, and will march about as it pleases.

And that's what's so troubling about the NCAA's actions. It's not that they don't know what effect that the consent decree will have. It's that they don't know that they don't know what effect the consent decree will have. Look at Emmert's statement; he thinks that it will actually help "eradicate the 'sports are king' mindset that can so dramatically cloud the judgment of educators." No, this consent decree won't help eradicate anything, except for certainty.

So I'm not going to bother weighing in on the debate of my colleagues Spencer Hall and Andrew Sharp. Neither one of them is right; we don't know if the consent decree will be good or bad. The NCAA and Mark Emmert, by acting in an unprecedented fashion, have injected a massive dose of uncertainty into the Sandusky cover-up scandal. The fact that the NCAA was willing to do so, of course, shows just how little they know that they don't know. The least we can do is admit that we don't know either.

For more on Nittany Lions football, visit Penn State blog Black Shoe Diaries, plus Big Ten blog Off Tackle Empire, SB Nation Pittsburgh and SB Nation Philly.

While we?re here, let?s watch some of the many fine college football videos from SB Nation?s Youtube channel:

Check out the SB Nation Channel on YouTube

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Source: http://www.sbnation.com/ncaa-football/2012/7/24/3180882/penn-state-football-ncaa-lawsuits-scandal

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Making Tech sexy- Design is what I do

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Tech BKstyle! I have to make tech ?SEXY!?... I'm ?sitting trying to figure out how to ?communicate the design ?process and what ?makes for a successful product, to ?someone who insist they have a "winning" idea. I am reminded of my ?fashion design process! ?sign up?Http://tuberiam.tibiaetech.com?

I'm charged with ?bringing tech to ?my community... not the?Facebook?stuff but encouraging local businesses to embrace technology as a solution "addressing need or?even?more demanding to "disrupt their industry , niche sector!

Tibia Tech Inc is a NY based tech startup that ?is in the business of change management addressing the glaring problem of lack of minority-owned businesses in today?s tech sector and the adoption of technology in today?s business culture, We provide a support system that is unprecedented ... and needed ?

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o Technology

o Funding & Financing-

o Education- Technical Training Programs & Development of Skill Sets

o Business & Resource Development & Procurement-

o Media, Marketing & Communication and distribution experts

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More importantly we ?encourage the establishment of?startups... "change the ratio" the urban version!?Already ?we're facing "I have a brilliant idea I just need a developer! ?The ideas are great and more importantly truly needed!

Yet as?each?plan is presented... I see blatant holes in?the?business model, strategy design, user interface ... mainly ?from lack of knowledge!

My partner said it simply, "you have to make it sexy ?for our people!"?

What??

They want the "Matrix" meets the "Minority Report"... and he is not off track. Few want to do the research, investigate, challenge and INNOVATE!?

So as I'm ?sitting trying to figure out how to ?communicate the design ?process and what ?makes for a?successful?product ?to ?someone who insist they have a "winning" idea. I am reminded of my ?fashion design process! I Have to make tech ?SEXY!I ?use several design techniques but eventually ?before they ?hit the shelf they must be?redesigned?from an ?art perspective to a consumer product focus! I?usually?use??the??educate, Investigate, brainstorm ?leave?to?simmer then?design?from "inspiration". The fact ?is in that ?process "inspiration is a carefully ?induced process!?

In the image above I ?sat ?through several ?free-form?jazz jams in?the?late 1999 at ?Palm Court ?and as my ?friend improvised I ?let my ?hands "move. In 2002 I ?took those?sketches?and executed these garments that were shown at Harlem Fashion Week in ?2003!?

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?646 829 3146?

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ABOUT ?TIBIAE TECH

We're presently Working onm the Tibiae tech ?concept and language.. The ?Space will launch in September and we are currently ?identifying and working ?with our first ?stratups!

Tibiae Tech Solutions provides technology, funding , mentorship, incubation, marketing and distribution to enable experts in niche local micro sectors who answer the question ??what would you do with technology if you could?? to access and develop technologies, focused on scalable next generation concepts! Tibiae Tech brings the Silicon Culture into local neighborhoods ?as a start-up designed specifically to facilitate the adoption, adaptation and creation of new and emerging ?technology by and for local entrepreneurs! ?Tibiae Tech seeks to help local experts make culturally relevant and successful transitions to the inevitable tech powered "solution" within their niche and thus proactively create effective solutions. Tibiae tech?s mission is focused on shifting ?the economic decline ?in urban ?communities into thriving businesses that can compete in today?s emerging high-growth marketplace. As opposed to the usual one-level approach, Tibiae Tech will employ a multi- pronged strategy utilizing the comprehensive resources to develop, nurture and support a successful small business.

Tibia Tech is in the business of change management addressing the glaring problem of lack of minority-owned businesses in today?s tech sector and the adoption of technology in today?s business culture. By proving space, pools of resources and making them accessible, we can jump-start these businesses. We first conceptualized an ?irrigation? system that would funnel resources to urban tech ?start-ups, as well as an ?incubator with relevant ?mentorship, training and support. Founders also noted that we we would not only need an ?incubator and an accelerator but we would have to develop a ??hatchery? and started brainstorming the challenge of fostering new ideas. ?The fact is fact we need to ?create a pollination and fertilization ?process before we can incubate... Distribution needed to be supported by offline and online venues connected and integrated seamlessly across digital platforms and so the Tuberiam was designed. ?We opted for the co-working model. in order to fulfill the small business needs, Tibiae Tech has to create the resources/ thus experts in each discipline are coming together to provide their expertise and creating ?a culturally ?sensitive ?programing and resource solutions. That introduces new concepts in Business as well as new and elerging technologies ad encorages exploration ad testing ?theories through to concept and product development! the challeng e of support ?staff ad their technical training will also be addressed! ?To facilitate this a comprehensive funding and financing ?protocol ?will be put in place! Tibia Tech believes that a ?comprehensive approach will create the ?necessary traction ?needed to ?push ahead. ?Tibia Tech ?July ?1st ?we begin ?p[rparing ?the core members with a soft ?launch with a target ?date of September for a permanent location
www.tibiaetech.com

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Source: http://knitsbymichi.blogspot.com/2012/07/making-tech-sexy-design-is-what-i-do.html

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Sunday, July 22, 2012

Canon Pixma PRO-1


The Canon Pixma PRO-1 ($1,000 street) is Canon?s new flagship A3+ photo printer, capable of producing high-quality prints at up to 13 by 19 inches. It is a step up from the Canon Pixma Pro9500 Mark II ($849.99 direct, 4 stars), employing more and larger ink tanks and clocking faster photo-printing speeds. In my testing, this massive printer consistently delivered magnificent, gallery-quality prints, and did particularly well in printing monochrome images and ones with very dark backgrounds.

The Pixma PRO-1 measures 9.5 by 18.2 by 27.4 inches and weighs 61 pounds. Although large and heavy, it's not unattractive, with a matte-black finish and rounded corners. It has only 3 buttons: On, Cancel/Resume, and a button to open the ink compartment. The PRO-1 can print on cut paper sheets up to 13 by 19 inches. It has a rear tray that fits up to 150 sheets, as well as a single-sheet manual feeder, also in back, that supports thicker paper. In addition, it can print on optical discs, using an included tray.

The PRO-1 sports a whopping 12 ink tanks, each with more than twice the volume and a lower cost per milliliter than one of the Mark II's 10 ink tanks. Five of the PRO-1's ink tanks are black or shades of gray; not surprisingly, in my testing the PRO-1 did particularly well in rendering black and near-black shades. The tanks are located in two compartments, one on either side of the output tray. (It's easy to know if the tanks are seated correctly, because each tank has a light on top that will go in when properly installed, and will blink when the tank is drained.)

Colors for the pigment inks include red; yellow; cyan; magenta; photo cyan; photo magenta; matte black; photo black; light gray; gray; dark gray. The twelfth tank is a Chroma Optimizer, a coating that according to Canon covers the bumps between ink droplets to achieve uniform glossiness in dark areas and smooth tonal gradation in colors, increasing the color gamut.

Each of the ink tanks has a 36ml capacity, and Canon sells them for $35.99 each for an even $1 per milliliter. (The Chroma Optimizer tank costs slightly less, $29.99 for the same capacity.) This compares with $1.14 per ml for the Pixma Pro9500 Mark II?s smaller (14ml) tanks, and $1.21 per ml for the Editors' Choice Epson Stylus Photo R3000 ?($849 direct, 4.5 stars), whose 8 ink tanks each have a 25.9-ml capacity. ?

However, cost per ink volume may not translate directly into cost per print, for which neither Canon nor Epson give a figure (and which would be tricky to quantify for printers with so many ink tanks, as it largely depends on what's being printed). Also, Canon doesn't give a rated duty cycle for the PRO-1, so there's no way of knowing how much you can print per month without shortening the life of the printer.

Canon has geared the PRO-1 to professional photographers, but it's also suitable for photo enthusiasts (in which category I number myself) who want to get the best out of their photos?particularly ones who do a lot of black-and-white printing. It's less expensive than most DSLRs, and it's easy to set up and use; the trickiest thing about it may be finding a place to fit its hulking frame.

The Canon Pixma PRO-1 offers USB and Ethernet connectivity, whereas the Pro9500 Mark II is limited to USB connectivity. The Editors' Choice Epson Stylus Photo R3000 ($849 direct, 4.5 stars) can connect via USB, Ethernet, or WiFi.

Canon Pixma PRO-1

Printing Speed, Text, and Graphics
Print quality is paramount for this class of photo printer, but photo printing speed is also important, especially to a busy pro. In our testing using QualityLogic's hardware and software for timing, the PRO-1 took an average of 2 minutes 14 seconds to print out a 4-by-6 photo, faster than the Pixma Pro9500 Mark II's 2:35 but much slower than the Epson Stylus Photo R3000's average of 53 seconds per 4-by-6 print. In fact, the R3000's average of 1 minute 41 seconds per 8-by-10 print is actually faster than it took for the PRO-1 to print out a 4-by-6. The PRO-1 averaged 3 minutes 53 seconds per 8-by-10, a step up from the Pro9500's 4:31.

Using a near-dedicated photo printer like the PRO-1 to print text documents is a bit like using a Maserati for grocery runs, but it still prints out excellent text for an inkjet, easily good enough for elegant documents like resumes or for basic marketing materials. Its graphics are also above par, suitable for marketing materials; the worst I could say about them is that some backgrounds could have been darker and some thin, colored lines bolder.

Photo Quality
Photos, of course, are this machine's raison d'etre, and in printing them out the PRO-1 excels. Print quality is exquisite, perhaps the best I've seen on an inkjet. Our monochrome test print was tint-less, with great contrast and a smooth, even background. With other prints, colors seemed true, and the printer did well in capturing subtle gradations in skin tones. There were no flaws worth mention.

In addition to our normal test suite, I printed out some ad-hoc 13-by-19-inch images on Canon's semi-gloss paper with the PRO-1. I shoot a lot of night scenes and have a particular interest in astrophotography, and photos of the night sky proved a perfect venue for testing its ability to handle black and near-black shades. I was particularly impressed with its ability to print even, dark shades with uniform ink density. (It seems that the Chroma Optimizer was working as billed, not to mention the five black or gray ink tanks.)

The near-dedicated photo printers from Canon and Epson both produce magnificent prints, though they have slightly different qualities, and those in the market for a professional-grade photo printer will want to compare output from models from each brand to see which they prefer.

The Canon Pixma PRO-1 is a formidable A3+ professional-grade photo printer, capable of consistently printing out exquisite, gallery-quality prints at up to 13-by-19-inch size. It does particularly well in printing out monochrome or nearly black output, as befitting its multiple black and gray ink tanks. Although a good professional-grade printer, it should also appeal to advanced amateurs who want to get the most out of their images. I can strongly recommend it for its superb output.

In our review of the Pixma Pro9500 Mark II, we lauded it for its top-notch black-and-white output, and the PRO-1 does at least as well. The PRO-1 is faster at printing than the Canon Pixma Pro9500 Mark II. It also offers larger and more ink tanks, and a lower cost per milliliter of ink than either the Pro9500 Mark II or the Editors' Choice Epson Stylus Photo R3000, though that doesn't necessarily translate directly into lower cost per page.

The R3000 is smaller, lighter, and faster than the PRO-1, has a lower price tag, and adds the ability to print from paper rolls in sizes up to 13 by 44 inches as well as WiFi connectivity and a color LCD control panel. Both printers produce exquisite, top-tier prints, and the Canon Pixma PRO-1's masterful handling of monochrome printing should make it attractive to professionals and photo enthusiasts alike.

More Ink Jet Printer Reviews:

??? Canon Pixma PRO-1
??? Epson Expression Home XP-400 Small-in-One Printer
??? Epson Email Print
??? Epson WorkForce WF-7520
??? Kodak ESP 3.2 All-in-One Printer
?? more

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Source: http://feedproxy.google.com/~r/ziffdavis/pcmag/~3/DRHMfX6X1K8/0,2817,2407444,00.asp

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Saturday, June 23, 2012

What's the Difference Between Pay Per Click Advertising and Search

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If you?re looking to drive more traffic to your website, then you?ve probably heard of the terms ?pay per click advertising? and ?search engine optimization? or ?SEO.? But what?s the difference? And how does pay per click advertising (or PPC advertising) differ from search engine marketing or paid search?

Well, search engine marketing and paid search are really just euphemisms for pay per click advertising, which is also known as PPC advertising, or Google advertising because the majority of pay per click advertising runs on the Google search network, Google content network, and Google display network.

When you hear ?pay per click advertising,? think advertising. The listings generated from pay per click advertising are paid for, and they appear in the ?sponsored links? sections at the very top and far right-hand side of search results pages. They can also appear on other websites that ?lease? space to Google and other search engines to display advertising.

The words ?pay per click? in the term pay per click advertising also tell us something. With pay per click advertising, the website owner pays a specific amount each time a user clicks on their ad. In other words, they pay per click, hence the name ?pay per click advertising.?

Pay per click advertising can be useful for advertisers who require highly-predictable marketing budgets. That?s because pay per click advertisers control precisely how much they?re willing to spend on their pay per click advertising. In fact, you can set a daily budget to ensure you never spend more than your company can afford.

Something else to consider about pay per click advertising is that each time an ad appears and a user doesn?t click on it, there?s no cost. Therefore, a pay per click advertising listing can appear thousands of times, be seen by thousands of internet users, and as long as no one clicks on it, the advertiser doesn?t have to pay.

Of course, the goal of pay per click advertising is for users to click on ads, but it?s helpful to know pay per click advertising can increase visibility even when users aren?t clicking. This is especially useful when pay per click advertisers use banner ads, which are graphically-designed display ads that serve to internet users based on their search behavior.

By comparison to pay per click advertising, search engine optimization (SEO) is not advertising at all. Unlike pay per click advertising, SEO relies on your website?s content, programming, and back-links to increase the likelihood your listing will appear among the top search results. But just because search engine optimization is not advertising, don?t think SEO is free. In fact, an SEO program can cost as much or more than pay per click advertising. That?s because effective SEO requires hiring an expert to modify your website?s content and coding. In addition, effective SEO programs require generating content and disseminating that content across the internet ? always with links back to your website. And all of this takes time and money.

On a more positive note, sophisticated internet users may be more likely to click on organic search results than on listings generated by pay per click adveritising. The organic search results are listed below pay per click advertising results, and some internet users perceive these listings as more credible than pay per click advertising results.

Bottom line, both pay per click advertising and SEO are valuable and both should be part of your online marketing program. So if you want to increase visibility and traffic, make sure to set an adequate budget for pay per click advertising and SEO.

The Pay Per Click Store provides pay per click advertising to businesses of all sizes and helps them achieve immediate results. The Pay Per Click Store offers the fastest and most affordable pay per click services to increase visits to your website. Visit the Pay Per Click Store today at http://www.payperclickstore.com/

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Extra innings: No resolution expected soon in Hargray, Fox Sports dispute

A dispute between Hargray Communications and Fox Sports Net Carolinas that has frustrated Beaufort baseball fans is unlikely to be resolved soon, representatives for both media groups said Friday.

Hilton Head Island-based Hargray dropped FSN Carolinas from its channel lineup in January, citing an unreasonably high carrying charge requested by the Atlanta-based cable affiliate.

Since Hargray's acquisition of Charter Communications in April, former Charter customers in northern Beaufort County are losing FSN Carolinas while their cable packages are converted, a process Hargray hopes to complete by October.

The decision has upset Atlanta Braves fans -- the cable network is broadcasting 70 of the team's games this season -- but Andrew Rein, Hargray's vice president of communications, says their anger is misdirected.

"(FSN Carolinas) is being egregious and out of line," he said, adding he doubts the issue will be resolved soon.

"If they continue with their set of demands, I'm not optimistic," he said. "The ball's in their court."

The two sides are also at an impasse on whether FSN Carolinas would be available to all Hargray customers or only to those paying for its premier package of channels.

According to Rein, most Hargray customers already subscribe to the premier package, and FSN Carolinas' asking price is too high to warrant its inclusion in the standard cable package, which costs about $12 a month less.

FSN's asking price, which neither side would disclose, is slightly less than that commanded by ESPN, Hargray's most expensive channel to carry, Rein said.

In an advertisement this week in local newspapers, Hargray maintained the price was incommensurate with FSN Carolinas' status as the 82nd-most-watched channel it offered in 2011.

Chris Bellitti, vice president of communications for FOX Sports Networks, said in a statement that the channel's request to be included in the standard cable package is reasonable.

"Charter always offered FOX Sports Carolinas on its Expanded Basic level of service -- as does every other cable provider in South Carolina -- and we are asking that Hargray not restrict (its) availability by relegating it to a higher-tiered package."

Bellitti also disputed the validity of Hargray's ranking of FSN Carolinas' popularity.

"If you want to know where FS Carolinas truly ranks," he wrote, "ask the average sports fan in the Lowcountry if they're going to miss seeing the Braves in a second-half playoff race that's going to go down to the wire."

Bellitti indicated a deal could ultimately be reached, but it would be contingent on Hargray's cooperation.

"We remain open to discussions," he wrote, "and if Hargray comes back to the table to negotiate, we are confident that we can work it out and get a deal done."

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Friday, June 22, 2012

Property market crash inevitable | Public Eye Daily

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By Motseare Tsosane

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The biggest fallacy in the world is that property and land prices always go up.

If that was true, we would all buy land and houses then sit on our hands and wait to become millionaires. BUT it is not that easy. Housing prices in the United States have dropped by 30 percent to 40 percent depending on the state you are in, while in neighbouring South Africa they have fallen by as much as 17 percent.

Yet an increasing number of Basotho continue to pour more money into real estate hoping to rent-it-out or sell it at a profit in the future. We have forgotten the all-important lesson we were taught by the popcorn machine. Every unregulated industry with high profit margins self-destructs. There was a time when there were popcorn machines followed by long queues at every corner of Maseru. Today they are dead and forgotten.

So I ask, what is the next popcorn machine? Voila, in come property, land and construction. From Masowe, past Thetsane Ridge, via Katlehong, through the Golf Estate View, to the heights of Mpilo Estate, million-maloti houses are popping-up everywhere. New property developers and real estate agents are born every day to jump onto the gravy train. In the foreground, land prices start doubling from Koalabata all the way to Ha Penapena. Wow?Either a group of millionaires have moved into town and are looking for houses that complement their status or all of this is madness. Surely, we as Basotho have not witnessed an economic uptick and a drastic improvement in our living standards. Or just maybe and I mean maybe, MKM?s spending-spree as it overpriced property, in the industrial area, Maseru West to Khubetsoana, triggered all this.

As land and house prices start to border on the ridiculous, property developers and agents have introduced a new terminology to ease our conscience, ?Prime area?. So again I ask: What makes these locations ?PRIME?? We are not only short of space in Maseru, but we also have a decreasing population. Surely they cannot be ?PRIME? because of distance, because Maseru is so small a town that someone who lives as far as Ha Foso can make it to work by 8am if they wake up at 6am. Maybe the nearby tar road is an added benefit, but it will be washed away in three years and it will take another five to 10 years to fix. This was the case with Ha Thamae.? Does this concept of ?PRIME AREA? really exist outside of old established suburbs such as Maseru West, Old Europa and Hill?s View? I do not think so. It will not exist so long as Ntate Sam Matekane?s neighbour lives in a two-roomed house of grey, block brick. If Matekane?s site is worth a million, then his neighbour? site is worth at least half a million and we all know that is not the case.

So who can afford to buy or rent these million-maloti houses? The common answer is NGOs, embassies and foreigners. We fail to acknowledge that embassies are closing down and operating out of Pretoria, South Africa. The few left will prioritise security and provide demand, but not increase demand to meet the increasing supply.? Meanwhile, NGOs are cutting back due to limited donor-funds, and are primarily focusing on big expenses such as rental. At this juncture, the developers and agents who are pocketing anything between 20 percent and 40 percent profit margins say, ?Do not worry, there is Metolong and LHDA Phase Two. They will need housing.?

True, but only during the construction phase of the projects. Upon completion, they leave the houses vacant and only key maintenance staff, which reside on site, are left behind.

At this point, everybody in the room shouts at me, stop being ignorant and stupid. A lot of upper middleclass Basotho are buying these houses. The banks are financing them. Ahhhha?So could it be that the only reason this market exists is because banks are providing financing at a time when interest rates are at a 15-year low? Interest rates are the cost of money. Given that the South African Reserve Bank (SARB) * has cut interest rates by more than half, from the high of 2008 to 5.50 percent, money and credit is cheap for all. When things are cheap, everyone is a buy. Human nature dictates that rather than buying what we can afford at a reduced price when there is a sale, we tend to buy what we always wanted but could not afford. This means we go to a sale and spend the same amount of money we would have spent under normal circumstances and exhaust our credit limit. Unlike a winter clearance sale at a retail store, the sale of cheap credit is not a once-off transaction that ends when you leave the store. It is a 20-year affair. To make matters worse, the salesman might change their mind and say ?the sale is over, pay-up in full?. When you ask, but how??? The salesman explains that the SARB has commenced monetary tightening. They have raised the repo rate by 600 basis point to mitigate the threat of inflation, which is expected to breach the target band in the third-quarter of next year. As a result, banks? prime lending rates have also ticked-up given that the repo rate is the benchmark rate. ?What!!!!!!? This means you will have to pay an instalment 25 percent higher for the remainder of the 20 years to keep your house. Tragically, you do not have headroom or savings because when you were told how much credit you have access to, you exhausted it and bought the house of your dreams. How likely is this scenario I am presenting? Well, if interest rates have been cut by half over the past three years, what stops them from doubling in the next three?

I foresee a crash in Lesotho?s property market in the next five to eight years. It is inevitable that inflation will rise due to all the stimulus and loose fiscal policy adopted by governments worldwide. This will trigger the start of the interest rate hike cycle. All Basotho who bought overpriced houses which they could not afford, not knowing rates would not stay low forever will feel the squeeze immediately. Rental will not rise at the same pace given limited pricing power due to excess supply. People will find cheaper housing. After all, what benefit does a M15,000-a-month mansion offer other than high electricity bills? Defaults on home loans will rise. Repositions will follow suit. When the auction ends, the truth will be revealed. The properties were overvalued between 20 percent to 40 percent. Wealth will be lost and livelihoods shattered.

*If the SARB reduces interest rates, the same happens here in Lesotho. Feedback: motseare21@hotmail.com

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