San Diego's executive order to expedite the permitting process has led to 2,834 homes receiving permits to enhance affordable housing. Mayor Todd Gloria emphasized the importance of these projects, which are part of a broader initiative to ensure affordable housing for all residents. The city mandates that all income-restricted affordable housing projects be reviewed within 30 days. In 2023,...
A recent study predicts a rise in California's housing market by 2030. The avg house price is expected to reach $1.2M, ↑ 9.3%....
While national economic data suggests a strong economy, many Americans are facing financial challenges. Increased borrowing costs due to the Fed policies are affecting housing affordability, and small business loans....
California offers affordable housing options like mobile homes priced at $100K or less in the following areas. Mobile homes in Desert Hot Springs are priced between $55K-$95K....
In San Diego County, a $1500 budget for rent yields limited space: 442 square feet in San Diego, 497 in Oceanside, 510 in Chula Vista, and 543 in Escondido. This marks a significant decrease from two years ago, when $1500 could secure 623 square feet in Escondido and 598 in Chula Vista. Experts suggest potential renters consider longer lease terms and the surrounding amenities, as many prioritize...
Housing markets in the South and West, including San Diego, are experiencing a slowdown in rental increases. In July, rental growth in San Diego was flat at -0.1%, with a year-over-year decline of 3.5%. The median rent for a one-bedroom unit is $1,986, and $2,489 for a two-bedroom, significantly higher than the national median. San Diego ranks as the 11th most expensive large city in the U.S. The...
New California bill would allow tenants to report on-time rent payments to credit bureaus. ~17M renters, or 40% of Californians, could benefit from this bill....
California homeowners pay an avg of $2,399 annually, excluding mortgage payments. Californians face additional annual costs: 1. $16,966 for maintenance 2. $6,832 for property taxes...
The Fed has chosen to maintain current interest rates, signaling stability for mortgages in California. Prospects for lower lending rates in California remain dim, with the Fed indicating minimal rate cuts this year....
The Southern California Rental Housing Association reported increased availability and decreased rents in their annual Vacancy and Rental Rate Survey for 2024. Vacancy rate rose to 6.36% from 3.9% last year, with San Diego seeing a rise to 4.22% from 2.64%. Average rent in San Diego County dropped to $2,170 from $2,338 in 2023, and in the City of San Diego, it decreased from $2,266 to $2,189. The...
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