08/04/2021

News

Home Improvements Will Trigger New Rule on Replacing Plumbing Fixtures in 2014

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.

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Rising Home Prices Lift LA-area Homeowners from Negative Equity

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.

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Foreclosure Starts Sink in California in 3rd Quarter, Near 7-Year Low

New California foreclosure filings tumbled during the third quarter, as a stronger economy continued to heal the housing market.

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Southern California Home Prices Level Off

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.

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Construction Firms Hit Hiring Crunch

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.

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Industry Intelligence Report: California’s Housing Market Recovery and Home Foreclosure Trends

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.

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California Highways Among Worst in the Nation

California’s highways continue to rank among the worst in the nation — a sorry distinction the state has held for more than a decade.

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The Hidden STEM Economy

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.

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Stricter Mortgage Standards May be Hurting Economy, Report Says

Citing research by Beacon Economics, the California Bankers Association warns that limited access to mortgage credit is hindering the economy.

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Large Specialty Contractor to Open Mare Island Facility

Company: EnclosCA Net Job Gain/Loss: 40Reason: Expand, From Out of StateCity/Region Losing Jobs: MinnesotaCity/Region Gaining Jobs: Mare Island, CA

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Run-up in Mortgage Rates Raises Questions About Housing Recovery

Mortgage rates have zoomed a full percentage point above their recent record lows, raising costs for borrowers and questions about the housing recovery.

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Democrats Press Prevailing Wage

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.

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Bill Would Push Prevailing Wages

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.

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California Median Housing Price Increases by Most in 33 Years

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.

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Vibrant Recovery is Building

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.

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