Friday, March 20, 2015
FRIDAY - WHISKEY AND ORANGES, 1/2 WAY TO A NEGRONI
(Dedicated to P&M)
- Building Permits: The Submittal Process
- Housing Waits–and Waits–on Millennials
- Industrial to residential? San Jose developers seek to convert 40 acres
- Facebook tips hand on big residential plans
- Retailers, restaurants raid ex-RadioShack sites for prime real estate
- California’s Housing Costs Hurt Economy, Increase Poverty, Report Finds
- The U.S. Cities Where It Takes the Longest to Be Able to Afford to Buy a Home
- 21 Patios Ready to Party
Housing Waits–and Waits–on Millennials - Prior to a major plunge in housing starts in February, single-family housing starts were running less than half the levels seen during the housing boom and are 37 percent below their average of the 1990s. A major factor being blamed is the absence of younger home buyers. Research has found that the share of households headed up by someone 25 to 34 years old has fallen far more than other age groups since 2006. Overall, housing markets will depend on the labor markets, especially the hiring and paychecks of millennials.
Industrial to residential? San Jose developers seek to convert 40 acres - Land-use changes are a perennially hot topic in San Jose, which has long wrestled with an imbalance between jobs and housing. The city's stance against conversions — solidified in the most recent general plan — came after years of liberal rezoning. Reed, city economic development officials and others argued that mix has left the city jobs-poor and housing-rich, contributing to the San Jose's fiscal troubles (because residences require expensive public services).
Facebook tips hand on big residential plans - A Facebook executive "expressed interest" in seeing 2,000 residential units built on the site, plus about 1,500 additional residential units — dorms for Facebook interns — on its original Menlo Park headquarters, the Mercury News reports, citing a summary of a recent city general plan meeting.
Retailers, restaurants raid ex-RadioShack sites for prime real estate - Electronics retailer RadioShack's loss is a gain for some retailers and restaurants. Following the company's recent bankruptcy announcement and its closing of more than 1,700 stores around the country, shops and restaurant chains eager to expand are swooping in to seek out the prime spots RadioShack's been holding. Most of the newly vacant spots are in highly visible shopping centers and other coveted locations.
California’s Housing Costs Hurt Economy, Increase Poverty, Report Finds - A new state report finds that California’s high housing costs decrease economic productivity, increase poverty rates, lower homeownership, increase crowding, and lengthen commute times. The report states, “The state’s high housing costs make California a less attractive place to call home, making it more difficult for companies to hire and retain qualified employees, likely preventing the state’s economy from meeting its full potential.” It urges the legislature to pass laws that would promote more density in urban areas. It also advises the legislature to consider changes to the state’s environmental review process for new development.
The U.S. Cities Where It Takes the Longest to Be Able to Afford to Buy a Home - Americans are set to spend nearly $10 trillion on housing over the next five years but the question remains: Where are we spending the most, especially when compared to our incomes, to purchase homes? According to a new metric evaluating housing costs, the metros where households have to devote the most years of income to housing are mostly on the West and East Coasts, in California, Washington State, Oregon and Arizona, and across the Boston-Washington corridor. Nine of the ten most expensive areas are in California. In these locations, the price of a home is equivalent to about seven years of income. In the top three metros, the price of a home equals roughly nine years of income.
21 Patios Ready to Party - Mix up some margaritas and break out the barbecue sauce. Outdoor party season is upon us, and these patios show how to do it right. Some of my favorites: