April 13, 2006 |
If this is a bubble, it's sure taking a long time to pop. For the first time, the median price of a Los Angeles County home topped the half-million-dollar mark last month, data released Wednesday showed. Four years ago, the median was half that. By doubling in such a short period, it's no wonder Los Angeles County appears on many lists of the nation's most-overvalued home markets. The increasing prices comfort recent home buyers such as Brian Kite.
CALIFORNIA | LOCAL
February 21, 2001 |
Marketing professor Terrance Gabel's resignation letter struck a nerve among university recruiters trying to lure out-of-state educators to balmy and pricey Southern California. "One of my dreams was to own a home," Gabel wrote to Cal State Northridge administrators. "I will never do that here. In Missouri, I'll own a home next year." Gabel, who left for Truman State University in Kirksville, Mo.
August 15, 2003 |
Rising interest rates have the real estate community fretting that the party is coming to an end, but the shindig sure was in full swing in Los Angeles County last month. The median price for homes sold in the county hit an all-time high of $328,000 in July, up 5% from June -- and up more than 23% from a year earlier -- according to figures released Thursday. The year-over-year increase was the strongest since May 1989, the peak of the region's last housing boom.
September 24, 1991 |
To see the dramatic changes in the Antelope Valley's new-house market over the past year, Frances Abele and her husband only have to look outside to survey their tract in Palmdale. A year ago, the plan was to fill the tract with big two-story houses like the one the Abeles had bought. But today, with only about one-fourth of the project built, their developer has suddenly decided to finish the tract with houses up to 50% smaller and less costly.
February 21, 2014 |
WASHINGTON - The day after Lehman Bros. filed for bankruptcy in September 2008, Federal Reserve policymakers hadn't yet grasped the scope of the financial storm blowing overhead. What was clear to them as they gathered for a regularly scheduled meeting on Tuesday, Sept. 16, was that economic conditions were worsening, according to transcripts released Friday of key Fed meetings that year. "The markets are continuing to experience very significant stresses this morning," said Ben S. Bernanke, then the Fed chairman, arriving late for the meeting, "and there are increasing concerns about the insurance company, AIG. " But Fed officials weren't ready for the unprecedented steps, such as bailing out the giant insurer, American International Group Inc., that they soon would be taking in a tumultuous year that transformed the central bank from obscure guardian of interest rates to aggressive fighter of financial crises.
September 30, 1995 |
Orange County home values have dropped an average of 18.9% during the past five years as a devastating real estate downturn has hammered prices throughout California, according to a new study. The county's decline is slightly greater than the drop in values throughout the state, but Orange County has weathered the real estate recession better than most areas of Southern California, the study found. Overall, homes in Southern California have declined 21.
October 4, 2006 |
Housing prices, slumping after a five-year boom, are projected to decline in more than 100 of the nation's metropolitan areas, with the Northeast, Florida and California among the areas hardest hit. The forecast by Moody's Economy.com, a private research firm owned by Moody's Corp., presents one of the starkest views yet of the housing slowdown that has been gathering force in recent months. The West Chester, Pa.
April 11, 1995 |
One year after the effects of the Northridge earthquake started to show up in San Fernando Valley housing sales statistics, the market is still struggling to recover, as prices of single-family houses tumbled again last month. The median sales price of an existing single-family house in the Valley was $169,500, the lowest median price for the month of March since 1987, according to the San Fernando Valley Assn. of Realtors.
December 13, 2010 |
The wood-frame Carousel grammar school survived the earthquake that destroyed much of this city in January. Beatrice Moise had taught there for five years and hoped she would continue when schools reopened in spring. But in February she found out that the director had rented the building out to the international relief group Oxfam. Buildings in the upscale suburb of Petionville, where foreigners like to live and work, were in high demand, and Oxfam paid $10,000 a month. The students, mostly from wealthy families, would probably have little problem finding other schools.
December 29, 1996 |
After enduring a painful real estate slump that has been far longer and deeper than anticipated, homeowners in Southern California may finally see an appreciable improvement in property values in 1997 for the first time since the early part of the decade. The housing market should get a boost from a variety of factors, ranging from a stronger regional economy and job growth to stable interest rates.