Costco teaming up with developers to build an 800-unit apartment complex in bid to ease housing crisis
Big-box wholesaler Costco is developing a mixed-use complex aimed at making a dent in the affordable housing crisis. The company plans to open a new store in South Los Angeles, partnering with developer Thrive Living and builder AO to build an 800-unit apartment complex, with 184 units set aside for affordable housing. The club, a […]
The Most Splendid Housing Bubbles in America
Estimated Reading Time: < 1 minute September Update: Spring Bounce Fades. 20-City Index -0.6% from Peak in 2022, Flat Year-over-Year. San Francisco -11% from the peak, Seattle -10%, followed by Las Vegas, Phoenix, Portland, Denver, Dallas, San Diego, Los Angeles, and Tampa. The S&P CoreLogic Case-Shiller Home Price Index, released today, for the 20 metros […]
Asylum seekers camped out next to Kent freeway demanding housing
(The Center Square) – It’s been nearly a month since asylum seekers set up camp on property next to SR-167 in Kent, urging city leaders to let them move into a vacant hotel on Central Avenue. “We are here one month now,” said Oscar, who on Tuesday told The Center Square he came from Africa. […]
US housing affordability might not improve without a recession: BofA
James Bullard, former president and CEO of the Federal Reserve Bank of St. Louis, looks ahead to the next interest rate decision, analyzes employment data and reacts to Yellen’s housing development policies. The home affordability crisis that has plagued the U.S. housing market for the past three years isn’t likely to improve until at least […]
Housing market won’t bounce back until 2026, economists predict — here’s why
A team of Wall Street economists has predicted that the US housing market won’t “break free” until at least 2026, and home affordability won’t improve unless there’s a recession. Bank of America economists cited “temporary changes” in demand during the pandemic as the reason for their less-than-optimistic outlook. “Housing activity has declined and stabilized after […]
Biden pushes housing policy ahead of high-stakes debate with Trump
The Biden administration announced new plans to lower housing prices, a problem looming large with voters, ahead of the first presidential debate between President Joe Biden and former President Donald Trump. As the week inches closer to Thursday’s debate, Treasury Secretary Janet Yellen told the country the Biden administration has allocated $100 million to expand […]
Lawsuit Against Flagstaff Says New Housing Plan Violates Property Rights
Estimated Reading Time: 3 minutes The Goldwater Institute has filed more than $23 million in claims against the Arizona city of Flagstaff on behalf of more than 50 property owners in defense of their property rights, which it holds were violated by the new High Occupancy House Plan. Flagstaff, home of Northern Arizona University, had […]
And the Number #1 Housing Market in America Is …
Estimated Reading Time: 2 minutes The average population of the top 20 metros on the WSJ/Realtor.com Housing Market Index is just 300,000. That’s not the whole story, however. For the first time in more than a decade, my wife and I are looking at moving. So it piqued my interest when I stumbled upon a […]
Housing is 'impossibly unaffordable' in these US cities
The story at a glance A new study has revealed that four California cities, led by San Jose, are among the 10 least affordable cities for housing. Honolulu was also included in the top 10 least affordable housing markets. Meanwhile, Pittsburgh, Rochester and St. Louis were identified as the cheapest large cities in the world […]
Barcelona to ban apartment rentals to tourists in bid to cut housing costs | Spain
The popular Spanish tourist destination of Barcelona has announced that it will ban apartment rentals to tourists by 2028, a surprisingly drastic move to curb skyrocketing housing costs and make the city more liveable for its residents. Barcelona’s leftist mayor, Jaume Corboni, said on Friday that by November 2028, the licences for 10,101 apartments currently […]