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Rent burden in Los Angeles, Orange County ranked nation's worst; Inland Empire 17th highest

dailynews.com

Rent burden in Los Angeles, Orange County ranked nation's worst; Inland Empire 17th highest

- The rent check hurts in Southern California. The typical renter in Los Angeles and Orange counties started 2017 paying the nation’s biggest slice of their household income to the landlord, while Inland Empire tenants had the 17th highest rent burden. That’s according to online property tracker Zillow’s measurement of rent affordability. These analysts compare local rents with typical wages. I tossed their data into my trusty spreadsheet to find how financially challenging it is to live in Southern California
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Categories: Real Estate | 
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Why renters are leaving Los Angeles and Orange counties -- and where they're going

dailynews.com

Why renters are leaving Los Angeles and Orange counties -- and where they're going

- than three-fourths of renters in the Los Angeles/Orange County region want to move to a new area, compared with nearly two out of three renters nationwide, a report by Apartment List says. The analysis showed: • 77 percent of Los Angeles/Orange County renters plan on settling down in a new city, compared with 64 percent of renters nationwide. • Affordability is the biggest issue for Los Angeles/Orange County renters
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Paterson municipal office building eyed for residential conversion

patersontimes.com

Paterson municipal office building eyed for residential conversion

- The downtown Paterson office building that presently houses the Division of Recreation and the Small Business Development Center is being eyed for residential conversion. Mayor Jose “Joey” Torres’ administration submitted a redevelopment plan to the city council to turn the three-story, city-owned building – once home to the First National Bank of New Jersey – into market-rate apartment housing. Council members granted preliminary approval to the plan on Tuesday evening
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Forget modern: Some Chicago renters seek vintage apartments stuck in the past

chicagotribune.com

Forget modern: Some Chicago renters seek vintage apartments stuck in the past

- There's a subset of apartment renters who eschew stainless steel appliances and granite countertops. Instead, they purposefully hunt for what they call time capsule dwellings — homes that look like they have been untouched since John F. Kennedy was president, Marilyn Monroe graced the movie screen and pillbox hats were the rage. While developers race to inject new rental buildings with every amenity under the sun — pet spa, anyone? — these renters seek out period details
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2 dead, 1 missing in San Jose mobile home fire

abc7news.com

2 dead, 1 missing in San Jose mobile home fire

- Officials have confirmed that two people, including a child, have died in a mobile home fire in San Jose Tuesday evening. Firefighters say they are searching for a second child that may be caught in the burning structure.
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Residents of luxury apartment complex in Celebration told to vacate

wesh.com

Residents of luxury apartment complex in Celebration told to vacate

- CELEBRATION, Fla. — Residents of an apartment complex in Celebration have been told they have 30 days to move out after their new building was deemed unsafe. Officials from Southstar Management, which owns Sola at Celebration, said they started doing some investigating after residents noticed cracks in the walls and ceilings. Company officials said they notified the Osceola County Building Department of the issue and Monday, building officials “yellow-tagged” the property with a warning that it was unsafe and that residents continued to live there at their own risk
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Merritt Properties buys Towson office building for $24.55 million

baltimoresun.com

Merritt Properties buys Towson office building for $24.55 million

- Merritt Properties said Monday that it has acquired a five-story Towson office building for $24.55 million. The previous owner, listed as The Realty Associates Fund IX L.P. of Rockville in state records, could not be reached for comment. The 121,414-square-foot building at 100 West Road is 100 percent occupied, though 2,174 square feet will come available for rent early next year, according to Merritt
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Lowell Property Owners Feud With Tenant Over Heating Oil Spill

cbslocal.com

Lowell Property Owners Feud With Tenant Over Heating Oil Spill

- (LOWELL) — A Lowell couple says a tenant in their house caused a large heating oil spill in their basement. Patricia Gervais and her boyfriend Todd Wall say the man who lives in the first floor apartment of their house deliberately drilled holes in the heating oil tank and caused the spill in their basement. Wall says the man has caused plenty of damage to their Princeton Boulevard home
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What price affordable? Luxury apartments at mid-market rents — sort of

bostonglobe.com

What price affordable? Luxury apartments at mid-market rents — sort of

- To Alice Fonseca, getting an apartment at The Beverly building downtown would be like winning the lottery. The 14-story project, set to open near North Station early next year, isn’t quite like all the other luxury housing that has sprouted up in downtown Boston recently. Every one of its 249 units will rent at below-market rates, with a one-bedroom starting at $900 a month for tenants of modest incomes
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Portland landlords appeal ruling upholding renter protection rule

oregonlive.com

Portland landlords appeal ruling upholding renter protection rule

- Portland landlords who sued the city over a renter protection rule and lost appealed to a higher court Thursday. They challenged Circuit Judge Henry Breithaupt's ruling that upheld the city's policy requiring landlords to pay relocation money to renters they evict or force out with big rent increases. In those cases, landlords must pay $2,900 to $4,500 toward relocation costs. Represented by frequent city opponent John DiLorenzo, the two landlords argued that the city rule violates a state ban on rent control
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Investigation continues into deaths of 2 found in luxury home in Holmdel

nj.com

Investigation continues into deaths of 2 found in luxury home in Holmdel

- HOLMDEL -- Monmouth County authorities are continuing to investigate the deaths of two people found in a luxury home in Holmdel on Thursday afternoon. Holmdel police remained at the scene Friday morning at 4 Paddington Lane, a spacious home among several others on a cul-de-sac in a new development, The Reserve at Holmdel, where homes are still under construction. The development was carved out of the former Bell Labs-Lucent property, a hub for communications research and development from its opening in 1962 to its shuttering in 2005
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Vancouver, B.C., home prices reignite

seattletimes.com

Vancouver, B.C., home prices reignite

- The housing market is roaring back to life in Vancouver, B.C. New home prices in Canada’s most-expensive market jumped 1.5 percent in June, and have gained 5 percent since March, data released Thursday by Statistics Canada show. That’s the biggest three-month increase since 1990. Prices for existing homes are also on fire, gaining 11 percent in the five months through July, according to data released this month by Vancouver’s real estate board
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Dead pets remain in ruins of burned Oregon mobile homes

katu.com

Dead pets remain in ruins of burned Oregon mobile homes

- PLEASANT HILL, Ore. (AP) — Iris Potter says the smell just bowls you over. She lives next to the site of a July fire that destroyed three homes at mobile home park in Pleasant Hill, Oregon. The carcasses of two cats and two dogs remain, and the stench of decomposition permeates the place. Last week's stretch of 100-degree weather didn't help
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Man killed in N.W. Oklahoma City neighborhood identified as local real estate agent

kfor.com

Man killed in N.W. Oklahoma City neighborhood identified as local real estate agent

- OKLAHOMA CITY - Police have identified the man killed in a northwest Oklahoma City neighborhood as a local real estate agent. Around 3:45 p.m. Wednesday, police were called to a home in the 1500 block of Duffner Drive, near N.W. 63rd and Pennsylvania Ave. When authorities arrived, they found a deceased male victim. The man has been identified as local real estate agent, 63-year-old Kent Potter
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Senate bill would increase investment in affordable housing

philly.com

Senate bill would increase investment in affordable housing

- Did you know that every dollar of federal tax credits issued has been generating roughly 10 times the level of investment? When it comes to a housing program in Pennsylvania, thankfully, it’s become a proven fact. Each year, the Pennsylvania Housing Finance Agency (PHFA) distributes nearly $30 million in Low-Income Housing Tax Credits (LIHTC). As a result, the credits have consistently led to almost $300 million of new investment in housing, according to PHFA – enabling developers to create or rehabilitate more than 84,000 affordable places to live for more than 200,000 Pennsylvanians
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Four Columbia office buildings sold for $30.1 million

baltimoresun.com

Four Columbia office buildings sold for $30.1 million

- A four-building portfolio of low-rise office buildings in Columbia has been sold for $30.1 million, announced Cushman & Wakefield, which handled the sale. The real estate firm represented the seller, Goldman Sachs. The properties — four buildings in the 9800 block of Broken Land Parkway known as Lakeview I & II — were acquired by CSG Partners of Windsor Mill. The buildings are 82 percent leased
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Real Estate - United States

  • Why renters are leaving Los Angeles and Orange counties -- and where they're going
    Why renters are leaving Los Angeles and Orange counties -- and where they're going

    , dailynews.com

    than three-fourths of renters in the Los Angeles/Orange County region want to move to a new area, compared with nearly two out of three renters nationwide, a report by Apartment List says. The analysis showed: • 77 percent of Los Angeles/Orange County renters plan on settling down in a new city, compared with 64 percent of renters nationwide. • Affordability is the biggest issue for Los Angeles/Orange County renters
    Read More ...

     

    Categories: Real Estate | 
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Property Markets

Rentals

  • Why renters are leaving Los Angeles and Orange counties -- and where they're going
    Why renters are leaving Los Angeles and Orange counties -- and where they're going

    , dailynews.com

    than three-fourths of renters in the Los Angeles/Orange County region want to move to a new area, compared with nearly two out of three renters nationwide, a report by Apartment List says. The analysis showed: • 77 percent of Los Angeles/Orange County renters plan on settling down in a new city, compared with 64 percent of renters nationwide. • Affordability is the biggest issue for Los Angeles/Orange County renters
    Read More ...

     

    Categories: Real Estate | 
    Places: Americas |  North America |  United States |  West |  Pacific |  California |  South |  Coast |  Los Angeles |  LA County |  L.A. | 

Mortgages

  • Trump tax proposal would make mortgage deduction useless for most homeowners
    Trump tax proposal would make mortgage deduction useless for most homeowners

    , seattletimes.com

    U.S. Treasury Secretary Steven Mnuchin has taken pains to stress that the Trump administration isn’t out to kill Americans’ beloved mortgage-interest tax deduction — but a side effect of the plan could turn it into a perk for only the wealthy. President Donald Trump has proposed rewriting the tax code to raise the standard federal deduction to a level where about 25 million homeowners would no longer take advantage of the century-old break
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    Categories: Politics & Government |  Business |  Real Estate | 
    Places: Americas |  North America |  United States | 

Housing

  • Senate bill would increase investment in affordable housing
    Senate bill would increase investment in affordable housing

    , philly.com

    Did you know that every dollar of federal tax credits issued has been generating roughly 10 times the level of investment? When it comes to a housing program in Pennsylvania, thankfully, it’s become a proven fact. Each year, the Pennsylvania Housing Finance Agency (PHFA) distributes nearly $30 million in Low-Income Housing Tax Credits (LIHTC). As a result, the credits have consistently led to almost $300 million of new investment in housing, according to PHFA – enabling developers to create or rehabilitate more than 84,000 affordable places to live for more than 200,000 Pennsylvanians
    Read More ...

     

    Categories: Business |  Real Estate | 
    Tags: Money |  Finance |  Housing |  Investments |  Credit |  Affordable housing |  Taxation |  Tax credits | 
    Places: Americas |  North America |  United States |  Northeast |  Atlantic |  Pennsylvania | 

Commercial

  • Hot housing market fuels business for home improvement stores
    Hot housing market fuels business for home improvement stores

    , seattletimes.com

    DAYTON, Ohio — Americans are spending more money on home repairs than ever before, helping home-improvement retailers ward off the negative impact of online competition seen with other retail stores. While other retailers are closing thousands of stores this year, home improvement stores like Home Depot and Lowe’s have seen boosts in revenue within the past year — and a major reason is the shortage of new single-family houses in the market, some experts say
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Property Management