March 30, 2012 |
Economists generally don't go into politics, which is probably a good thing for Christopher Thornberg , who has declared war on Proposition 13 . The popular 1978 ballot measure that capped property taxes in California is “one of the most horrendous, unfair, regressive taxes in the history of the United States,” the former UCLA economist declared at a televised hearing in Sacramento earlier this month. (You can view it here , starting at about 31:36 minutes.) Zap!
CALIFORNIA | LOCAL
December 16, 2009 |
So here I am at the Beverly Center, looking at a pair of $228 jeans from Bloomingdale's, and I can't remember my duty as an American: Am I supposed to buy these overpriced trousers and everything else in sight to help fuel the economic recovery? FOR THE RECORD: Steve Lopez column: In Wednesday's Section A, Steve Lopez's column referred to the Los Angeles County Economic Development Corp. —where Jack Kyser is chief economist -- as the Los Angeles Economic Development Council.
October 10, 2013 |
Looking for the American dream in Los Angeles? Good luck with that. A household earning the county's median income - $53,001 annually in 2012 - can only afford a home worth about $271,000, a price point better suited to the Midwest than the West Coast. That means a typical buyer can afford only 24% of the homes currently for sale, according to a study released Thursday by Trulia, the real estate information company. Los Angeles County is the nation's third-most-expensive housing market by this measure - behind only San Francisco and Orange County.
November 12, 2013 |
Southern California home prices appear to have hit a wall, with the median home price flat for the fourth consecutive month in October. The median sale price was $383,750 last month, 21.8% higher than last year - but virtually unchanged from June, research firm DataQuick said Tuesday. Home prices rose rapidly earlier this year as investors and families battled over a shortage of homes for sale, but buyers have pulled back, unwilling to stretch their budgets any further. Beyond affordability, several factors have helped ease price pressure, including rising mortgage rates, a pull-back by investors and an expanding supply of homes for sale.
August 25, 2007
Mortgage: Christopher Thornberg's Op-Ed piece on Friday about Fannie Mae (the Federal National Mortgage Assn.) and Freddie Mac (the Federal Home Loan and Mortgage Corp.) said that Fannie Mae had been around for nearly 60 years. It has been nearly 70 years since it was formed in 1938.
December 21, 2012 |
California's unemployment fell below 10% in November for the first time in almost four years, thanks in part to a holiday hiring surge by retailers. The jobless rate fell to 9.8% from 10.1% in October, according to data in an overall jobs report released Friday by the state Employment Development Department. The drop in the unemployment rate, based on a survey of households, came even as a separate payroll survey found that employers shed a net 3,800 jobs in California, according to the report.