August 15, 2006 |
Bearish real estate economist Christopher Thornberg, who says the Southern California housing market is a bubble beginning to pop, has left UCLA Anderson Forecast to strike out on his own. Thornberg, 38, will continue to teach economics at UCLA but will no longer be part of the quarterly Anderson Forecast on the economies of California and the nation. "I wanted to start my own business and do things I wasn't able to do before," said Thornberg.
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.
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.
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.
September 1, 2007
Re "Fannie and Freddie, old and new," Opinion, Aug. 24 In his conclusion to an otherwise informative article, Christopher Thornberg resorts to advocating a very untenable position. He strangely claims that Fannie Mae and Freddie Mac have become the opposite of what they were because they are now part of the safe market. Fannie and Freddie have always been part of the safe market. They provided liquidity, but not for speculative or risky mortgage seekers, only for the creditworthy ones.
April 15, 2014 |
Most Californians can't afford their rent. The state's affordability crisis has worsened since the recession, as soaring home prices and rents outpace job and income growth. Meanwhile, government funds to combat the problem have evaporated. Local redevelopment agencies once generated roughly $1 billion annually for below-market housing across California, but the roughly 400 agencies closed in 2012 to ease a state budget crisis. In addition, almost $5 billion from state below-market housing bonds, approved by voters last decade, is nearly gone.