FRIDAY - april showers
- Bay Area trend: Low earners move out, high earners move in
- Hope for California’s Housing Crisis?
- When it Comes to Real Estate, Cryptocurrency Raises Plenty of Questions (and Some Promise)
- Landless Americans Are the New Serf Class
- House-Hunting Checklist: 10 Essentials to Bring on Your Search
- 7 Ways to Decorate Your Walls When Painting Is Not an Option
Enjoy!
Big investment firms have stopped gobbling up California homes - The rising tide of single-family rentals has renewed attention on who actually receives the rent payments that nearly 2 million Californians make each month. Lawmakers and first-time homeowner advocates have been scrutinizing a relatively new form of landlord: private investment firms that snapped up thousands of homes during the foreclosure crisis and now rent them out. With nearly one in four California homes now purchased in all-cash, these well-financed institutional investors have also been blamed as unfair competition against families bidding on starter homes. So how much are institutional investors impacting California’s housing prices? The data says not so much now.
Bay Area trend: Low earners move out, high earners move in - Bay Area newcomers had a median annual household income of about $70,000, while those leaving had a household income of $57,400, according to the study. About 60 percent of the newcomers had at least a four-year college degree, while about 50 percent of the outgoing residents had that level of education.The Bay Area represents the extreme edge of a national trend: higher paid and educated professionals moving to large, coastal cities like San Francisco and New York, while lower paid workers are moving toward less expensive metro areas, the report found. This migration has driven up housing prices in coastal cities, while others in the Rust Belt have seen home prices drop.
Hope for California’s Housing Crisis? - Last November, Gov. Jerry Brown signed the Affordable Housing Package, which would provide critical funding for new affordable homes, including placing a $4 billion bond to fund new low-income developments and potential major changes to Prop 13's property tax restrictions, accelerate development to increase housing supply, holds cities and counties accountable for addressing housing needs in their communities, and creates opportunities for new affordable homes and preserves existing affordable homes.
When it Comes to Real Estate, Cryptocurrency Raises Plenty of Questions (and Some Promise) - Diversification is always key when managing wealth, and the recent rise (and fall and rise again) of cryptocurrencies like Bitcoin play right into that strategy. It’s even touched the real estate industry, where the new currency has been the experiment of a scattered number of high-end transactions across the country.
Landless Americans Are the New Serf Class - The share of homeownership has dropped most rapidly among the key shapers of the American future—millennials, immigrants, minorities. Since 2000, the home ownership among those under 45 has plunged 20 percent. In places like Atlanta, Dallas-Fort Worth, Houston, and Indianapolis, and elsewhere, households with less than the median income qualify for a median-priced home with a 10 percent down payment, according to the National Association of Realtors. But in Seattle, Miami, and Denver, a household needs to make more than 120 percent of the median income to afford such median-priced house. In California, it’s even tougher: 140 percent in Los Angeles, 180 percent in San Diego, and over 190 percent in San Francisco.
House-Hunting Checklist: 10 Essentials to Bring on Your Search - Camera, checklist, slip-on shoes — these and 7 more take-alongs will help you make the most of a house-hunting weekend
7 Ways to Decorate Your Walls When Painting Is Not an Option - These wall decor ideas let you be creative when you rent, despite any design restrictions you may face
