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Rents fell in some California Metro Areas; Is a wider cooling trend ahead?

Rents fell in some California Metro Areas; Is a wider cooling trend ahead? “But in the Los Angeles-Long Beach-Anaheim metropolitan region, the fourth-most-expensive in the U.S., rent fell by $4 to $3,047. In the Riverside-San Bernardino-Ontario region, rent fell by $22, and the Sacramento area saw a $19 decrease.” To Read the Original Article Click…

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The Narrative of Housing Shortage Beginning to Crumble

The Narrative of Housing Shortage Beginning to Crumble Urban Pacific Note: Our UTH housing strategy has accelerated based on this “doubling and tripling up“, which is the one fundamental purpose of the UTH model: to create a new housing type that gives a place for people to “economic share.” “All the above factors feeding into…

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California Rents are Spiking – and in Places You Might Not Expect

California Rents are Spiking – and in Places You Might Not Expect “Data from the Bureau of Labor Statistics’ consumer price index for the Los Angeles area showed that in April, housing costs were up 5.4% from the year before and renters were spending 3.7% more for their primary residence compared with April 2021. Online…

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Chipmakers are Flashing More Warnings on the Global Economy

Chipmakers are Flashing More Warnings on the Global Economy “Mounting concern over semiconductor demand is sending shudders through North Asia’s high-tech exporters, which historically serve as a bellwether for the international economy. South Korean behemoths Samsung Electronics Co. and SK Hynix Inc. have signaled plans to dial back investment outlays, while across the East China…

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U.S. Needs More than Four Million New Apartments by 2035

U.S. Needs More than Four Million New Apartments by 2035 “Roughly 4.3 million new apartments will be necessary by 2035 to meet rising demand, according to research from the National Multifamily Housing Council (NMHC) and National Apartment Association. Some 266,000 new units will be needed annually. Housing affordability has worsened over the past several years,…

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Construction Job Openings Plunged by 71,000 in June

Construction Job Openings Plunged by 71,000 in June “The construction industry had 71,000 fewer job openings in June, providing more evidence that a once-scorching employment market is starting to cool.” “There were 334,000 open jobs across construction in June, a 17.5% plummet from May, according to the Bureau of Labor Statistics’ monthly Job Opening and…

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Development and Construction Trends in California’s Multifamily Housing Market

Development and Construction Trends in California’s Multifamily Housing Market “The panelists agreed that opportunities exist in affordable and workforce housing, with one member noting that they cannot build their way out of the demand for these properties. Employees need housing that fits their budgets and gives them access to transportation so they can get to…

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U.S. Apartment Demand Through 2035

U.S. Apartment Demand Through 2035 “Affordability will continue to be a substantial housing challenge Apartment affordability has become slightly worse during the past five years despite lower interest rates and the passage of laws designed to ease affordability. Affordability has been further exacerbated by a loss of 4.7 million affordable rental units priced under $1,000…

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Early Stage Demand Picks Up as Mortgage Rates Fall to a Four-Month Low

Early Stage Demand Picks Up as Mortgage Rates Fall to a Four-Month Low “Redfin’s Homebuyer Demand Index—a measure of requests for home tours and other home-buying services from Redfin agents—rose 7 points during the last week of July, and mortgage purchase applications rose for the first time in five weeks. So far this rebound has…

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Credit Card Balances Grow at Fastest Pace in Decades

Credit Card Balances Grow at Fastest Pace in Decades “Two fresh stats — courtesy of the New York Fed — tell the story: Credit card debt surged by $46 billion last quarter — a 13% jump from the prior year that marks the biggest increase in over 20 years. Americans opened 233 million new accounts…

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