The Fed Paused its key interest rate at at its current range between 5.25% and 5.50%. Meanwhile a rate hike is expected on Fed next meeting on Oct 31- Nov 1.Officials cut forecasts for 2024 rate cuts, suggesting a "higher for longer" policy; benchmark rate above 5% by end of 2024....
California Attorney General warns against alleged misuse of local zoning rules to block state housing laws. A new initiative was filed to give local governments power to override state housing laws....
California's housing affordability hits a 16-yr low, with less than 1 in 5 homebuyers able to afford a median-priced, single-family home....
Pacific Beach community members are voicing their concerns about unpermitted short-term rental units, a problem that has been widespread throughout the North County coastal region. Encinitas has attempted to combat this by limiting the amount of non-hosted properties to 2.5% of the city's total housing units and imposing painful fines for those who are caught. Solana Beach is also discussing...
California's single-family home sales ↓ 9% yearly and ↓ 3% MoM in July. Sales decline of <10% marks moderation and potential turnaround....
The U.S. mortgage rates are at a 22-year high, resulting in an increase in buyers' appetite for new builds. However, San Diego is struggling with a severe housing shortage and there are not enough new homes being built to keep up with demand. Sales of existing homes have dropped 17%, while new home sales have soared 32%. Builder confidence is now at its highest level since June 2022, with some...
Initiative 1942 will appear on California's November 2024 ballot. It aims to give local jurisdictions the authority to impose rent control measures as they see fit....
Warning issued over housing rule misuse amid growing opposition to these regulations. A new proposal grants local authorities power to counter state housing rules, prioritizing community preferences....
Mayor Todd Gloria and the San Diego Housing Commission have announced a state grant of $45 million for the construction of over 1,180 affordable homes in San Diego. The grant will be used for two large-scale projects, with units ranging from zero to 120 percent of the city's Area Median Income. The funds will be used for site preparation, surface improvements, and transit investments such as...
California's housing market to rebound by 7.3% over the next year, following a recent decline in home values. Federal Reserve rate hikes impacted affordability, leading to a 2.2% drop in prices in the past year....
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