> San Francisco led the nation in annual rent growth this month, with both one and two-bedroom prices hitting new all-time highs, marking the highest levels in over a decade of Zumper data. One-bedroom rent climbed 18.4% to $3,790, surpassing its previous peak of $3,720 set in June 2019, while two-bedrooms rose 22.6% to $5,270, exceeding the prior high of $5,120 recorded in September 2025.
From the Zumper report. 22% gain on SF 2B is just insane to me.
SF (only acceptable abbreviation) is 7x7 miles square surrounded by water on three sides—the only way to grow is up, right after you knock down the 100 yro Victorian homes and historic buildings, and gut the neighborhood charms. This from someone who once paid rent 1300/mo for a two bedroom in Potrero Hill.
>right after you knock down the 100 yro Victorian homes and historic buildings
BS, there's ~400K housing units in SF, and only ~10k of those would be considered victorian. These units couldn't (And shouldn't!) be destroyed for new housing because they're protected, and that's not what NIMBY's or YIMBY's are arguing about anyway since almost everyone loves victorian homes.
More than half of the city's housing was built after 1940, mostly on the west side, and it's where NIMBYism is at its worst. There's little reason someone or even a developer shouldn't be able to build up there.
hehe. Frisco seems derisive to me. And The City? All major cities can be called that when in their vicinity (NYC?). But SF? It's right there on the Giant's caps!
People seriously underestimate how much easier it is to open a bank account in the US compared to most other countries. Especially with how many states give out government-issued IDs to non-residents/non-citizens (16 states + Washington DC).
It's estimated that between $250 billion and 500 billion is laundered through US banks every year, though some portion of that is via correspondent banking and not just individual account money muleing.
And this just collects that information. It doesn't actually stop people from opening these accounts or shut them down.
> It's estimated that between $250 billion and 500 billion is laundered through US banks every year, though some portion of that is via correspondent banking and not just individual account money muleing.
The money laundering is not happening through consumer deposit accounts (I've never heard your term money mueling and it's almost definitely not people moving $10,000 at a time if that's what you are suggesting).
It is wanton disingenuity to think that the goal of this rule is prevention of money laundering.
I didn't say that was the goal. I explicitly said that it wouldn't do anything about it. Just that it happens.
And absolutely it happens, particularly with networks of accounts connected to China. Just because you've never heard of it doesn't mean that it doesn't happen. FinCEN has been publicly chasing this down for years. Although hawala networks are also a big source of that not mainly personal banking.
Also you're missing the forest for the trees here. Money laundering will most often happen through business bank accounts but a large number of business account holders also have personal accounts at the same bank and link them out of convenience.
Personal ID is also required to open a business bank account. This requirement will likely apply to those as well.
> Also you're missing the forest for the trees here
I see what you're saying - I am just trying to convey that the $250 billion dollars being laundered is commercial. It's hard to imagine how anyone can come close to those figures by using consumer accounts, linked or not.
Ok agreed. So why? If there is an issue with foreigners then why is anyone exempted from reporting BOI? I have foreigners in my entities, surely the gov wants to know about them?
The money laundering won't go away. It'll just move to administrations-approved money laundering vehicles like crypto. And needlessly disrupt or ruin the lives of millions. Neat.
Basically this. Banks are already deputized into being de facto law enforcement by some of the KYC/AML checks they are mandated to do, and anti-immigrationists want this remit to include checking if someone is in the US illegally trying to use a bank.
The goal is to de-bank any opposition to the government. It starts with an easy out group like immigrants. Then more and more groups will get de-banked or otherwise disenfranchised.
Holy crap, it's been a long time since I saw that dopey Obama/tea-party line. Fox News bullshit from the past seems down right quaint by today's standards
If you still believe that nonsense after all these years nothing I can say that'll change your mind.
This is one of the all time greatest examples of "lying with facts". It's technically correct, the IRS absolutely singled out a bunch of non-profits due to administrative fowl ups, but trying to say Obama "targeted" the Tea Party intentionally was so hilariously stupid I'm amazed anyone bought it.
It starts with an even easier out group like "actual criminals or other groups that are fairly strongly hated by a lot of people".
The groundwork for this crap was laid in the 1870s when they were going after the klan, the 1920s bootleggers, then the 1940s-50s mobsters, 1980s drug traffickers, 2000s terrorists, etc, etc. Every step of the way people cheered.
Of course some people looked at the "hurricane cone" of public policy at the time and said that we were not on a good path. Of course they were ignored.
> But that doesn’t satisfy Bessent. “Why can unknown foreign nationals come and open a bank account?”
To do business obviously. Are you seriously telling me the government, armed with Palantir, can’t already flag money laundering? Why is an “unknown” in the country in the first place given this admin’s extremely hostile view towards immigrants?
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