What was once the American dream, to own a home for your family, is now becoming a fading fantasy for many Californians. The rate of home ownership in California is approximately 10 percent less than the national rate. Our state population is starting to decline for the first time in state history, and homeless numbers…
‘By-Right’ Housing by Might Politics
August 24, 2022
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Energy Regulation Would Increase Housing Costs in California
Commentary When I came to California in 1987, I drove to an apartment complex I liked near the coast in Huntington Beach, and asked the rent price and a couple other questions. They asked my place of employment and salary. Then I signed a lease and wrote a check. Simple. When I recently moved to…
Housing Correction Gaining Pace, to Continue Through Next Year: Report
Desjardins is forecasting the average home price in Canada will decline by nearly 25 percent by the end of 2023 from the peak reached in February of this year. In its latest residential real estate outlook published on Thursday, Desjardins says it’s expecting a sharp correction in the housing market, adjusting its previous forecast that…
Despite Falling Sales, Home Prices Keep Rising: What Is Going On?
Today’s U.S. housing market is a study in contradictions. After a stretch of strong and often frenetic activity by buyers during the pandemic period, sales have been in a slump. Housing inventory, which was in acutely short supply before the pandemic, is slowly starting to become a bit more bountiful. But home prices have continued…
Yorba Linda Housing Proposals Face Fierce Opposition From Residents
August 3, 2022
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YORBA LINDA, Calif.—City Hall was filled to its maximum capacity Aug. 2 as many residents arrived on horseback just thirty minutes before city officials would meet to discuss state-mandated rezoning plans. The city council approved a measure for over 20 sites Tuesday night that would be rezoned for housing to go before voters in November;…
Cancelled Listings, Turning Homes Into Rentals More Common as Housing Market Cools
When Shannon Tebb listed her downtown Toronto loft for sale in mid-June, she did everything to make the property attractive for buyers. She hired stagers, painted walls, washed the windows, listed the place below market value and advertised all over social media. But by July, she was pulling the property off the market—and not because…
New Report Highlights ‘Housing Crisis’ Driven by Low Inventory
A new report argues that America is currently in the midst of a “housing crisis,” as the number of homes available fails to keep pace with surging demand for real estate, freezing many prospective homeowners out of the market under current conditions. Last week, the non-profit organization Up for Growth released its report “Housing Underproduction…
Interest Rate Hike Like a ‘Hammer to Housing’: BMO Senior Economist
A BMO Capital Markets senior economist says the Bank of Canada’s recent move to increase its key interest rate is setting up the housing market for an even deeper correction next year. Robert Kavcic says governor Tiff Macklem’s surprise one-percentage-point rate hike last week was like taking a hammer to the housing market. In a…
California ‘Low-Income’ Apartments Cost Over $1 Million to Build
Commentary The California housing lunacy just gets worse and worse. Not long ago I commented on a Los Angeles audit revealing that the city was building housing for homeless at a cost of up to $837,000 per single unit. Now, a Los Angeles Times study of state records reveals that the state is subsidizing low-income…
New South Wales Launches Shared Equity Housing Scheme
Frontline workers and singles over 50 will receive “a leg up” into the New South Wales (NSW) property market, with the state government to introduce a shared equity housing scheme in this week’s budget. Premier Dominic Perrottet says housing affordability is becoming a challenge for families across the state. “Whether you’re in the city, or you’re…
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