California homeowners saving up to overhaul that 1980s-era kitchen or build a porch off the family room face an additional cost in the new year: replacing plumbing fixtures throughout the house.
At the end of the third quarter, 13.2% of homeowners with a mortgage remained underwater in the L.A. metro region, a decline from 25.9% in the same period last year, according to real estate firm Zillow, which released the data Thursday.
New California foreclosure filings tumbled during the third quarter, as a stronger economy continued to heal the housing market.
Southern California home prices stayed flat in August for the second straight month, an indication the market may be normalizing after a period of torrid price hikes.
Close to three-fourths of construction companies are having a difficult time finding qualified workers and experiencing labor shortages, according to a recent survey from the Associated General Contractors of America, a trade group.
As the real estate market conƟnues to improve, or, more specifically, as homes conƟnue to appreciate, homeowners with underwater mortgages will reap the benefits. However, naƟonal policies stemming from the federal Dodd-Frank Act may temper growth as the changing standards for what defines a convenƟonal mortgage will make qualifying more difficult. These standards may serve a greater purpose in the long term, but their short-term effects are currently hurƟng potenƟal homebuyers.
California’s highways continue to rank among the worst in the nation — a sorry distinction the state has held for more than a decade.
Workers in STEM (science, technology, engineering, and math) fields play a direct role in driving economic growth. Yet, because of how the STEM economy has been defined, policymakers have mainly focused on supporting workers with at least a bachelor’s (BA) degree, overlooking a strong potential workforce of those with less education but substantial STEM skills.
Citing research by Beacon Economics, the California Bankers Association warns that limited access to mortgage credit is hindering the economy.
Company: EnclosCA Net Job Gain/Loss: 40Reason: Expand, From Out of StateCity/Region Losing Jobs: MinnesotaCity/Region Gaining Jobs: Mare Island, CA
Mortgage rates have zoomed a full percentage point above their recent record lows, raising costs for borrowers and questions about the housing recovery.
SACRAMENTO — The Assembly Local Government Committee Wednesday approved legislation that would effectively force charter cities to require higher prevailing wages for all public works project contracts regardless of where the money comes from.
Lawmakers buoyed by last fall’s election of a supermajority of Democrats in the state legislature are pushing new legislation that would cut off state construction funds from charter cities that don’t mandate the equivalent of union-scale wages on public-works projects.
The median price of a previously owned house in California soared 31.9 percent in May, the largest year-over-year increase in more than three decades as sales of more expensive properties increased and inventory remained tight, a trade group said Monday.
During the downturn, new home construction plummeted along with jobs and personal incomes. Today, a major forecast for the Sacramento region suggests these measures of economic health are poised to rise together over the next four years.