October 21, 2003 |
The number of homes sold in Southern California stayed red-hot last month, surging 25% from a year earlier to their highest September level in 15 years, according to figures released Monday. Sales and prices did generally take their regular, seasonal dip in September from August, and the real estate industry is watching closely to see whether the market follows normal trends and cools further as the year-end approaches.
September 27, 2005 |
Federal Reserve Chairman Alan Greenspan on Monday warned home buyers to be wary of exotic mortgages that allow them to hold down monthly payments or defer principal payments in the early years. If the red-hot housing market cooled off, Greenspan said, "these borrowers, and the institutions that service them, could be exposed to significant losses."
January 17, 1995 |
Capping off a year of good news-bad news for the local housing market, sales of existing single-family houses and condominiums in the San Fernando Valley in 1994 rose to their highest level since 1989, but sale prices continued to plummet. A total of 12,451 residential properties were resold in the Valley last year, up 19% from 10,506 in 1993 and the most sold since 1989, when 17,310 houses and condominiums changed hands. Sales of single-family houses jumped to 10,860.
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.
April 27, 2012 |
Less than a year before the 2008 collapse of Lehman Bros. plunged the global economy into a terrifying free fall, the Wall Street firm awarded nearly $700 million to 50 of its highest-paid employees, according to internal documents reviewed by The Times . The documents, which were among the millions of pages submitted in Lehman's bankruptcy, show the list of top earners each were pledged $8 million to $51 million in cash, stock and other compensation....
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 14, 1998 |
With Marin County home prices ever rising, the more than 400 houseboats moored near Sausalito have become popular for reasons that have nothing to do with atmosphere. Life on the water, exotic and romantic though it may be, has become a prosaic thing--an affordable housing alternative. Marin County's median home price is $375,000 and climbing, said John Karevoll of ACXIOM-DataQuick Information Systems. It's the hottest real estate market in the nation, he said.