Population growth is far exceeding new construction in California

Posted Leave a commentPosted in Housing shortage, Market Direction

Between 2010 and 2016, only one new housing unit was built for every four new residents in California, half the rate of most states in the nation. Builders are slowing down after the Millennium Boom, a period between 2000 and 2007 of overbuilding that led to an excess of 338,000 new housing units in California. But […]

Accessory Dwelling Unit or Bootleg Rental?

Posted Leave a commentPosted in 55+, Housing shortage, Residential Income, Senior Housing

Call it granny unit, granny flat, mother-in-law quarters, in-law quarters, casita, secondary suite, guest quarters, guest house, accessory apartment, or simply bootleg rental.  They are here and they are legal. Last year the California legislature made that final term obsolete and took a dramatically firmer stance on one solution to the state’s housing shortage.  Local government […]

Home-sales-per-household ratio remains flat despite inventory concerns

Posted Leave a commentPosted in Buying a new (to you) home., Housing shortage, Market Direction, Sales Data, Selling your home., uncategorized

The following article is reprinted from first tuesday journal, and was written by Carrie B. Reyes.  We seldom reprint entire articles, however this contains a unique interpretation of statistics worthy of being widely distributed.  Our thanks to first tuesday journal and Ms. Reyes. On a monthly basis, 2.9 homes sold per 1,000 households at the […]

Mortgage Quick Facts – Federal Reserve Bank

Posted Leave a commentPosted in Financing

Let’s start by clearing up a common mis-perception. The Federal Reserve Bank (Fed) doesn’t set mortgage rates. Mortgage rates are set on Wall Street. So. how does the Fed impact mortgage rates? The Federal Open Market Committee (FOMC) is a rotating, 12 person sub-committee within the Fed. The FOMC meets eight times annually, plus as […]

Monthly Market Direction – December 2017

Posted Leave a commentPosted in Buying a new (to you) home., Market Direction, Sales Data, Selling your home.

To give you the most current information, we personally chart sales activity in the LA South Bay.  This hyper-local information often involves very small numbers of sales to work with on a monthly basis. This December 2017 chart shows the daily changes in the number of homes available in blue, and the trend line in […]