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Housing Prices

May 7, 2012 | By Tiffany Hsu
In the purely theoretical universe where 1600 Pennsylvania Ave. would be up for sale, the listing price for the property would be about $110 million. But it would  fetch up to only $80 million - or $1,455 per square foot, according a new estimate. Based on the size and location of other luxury homes in the D.C. area, the White House would be worth double the current leader: A $45.5-million Frank Lloyd Wright-designed mansion in McLean, Va., owned by AOL co-founder Jim Kimsey. That 21,000-square-foot spread has an underground garage for 40 cars.
April 27, 2012 | By Walter Hamilton, Andrew Tangel and Stuart Pfeifer, Los Angeles Times
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....
January 12, 2012 | By Don Lee, Los Angeles Times
Despite signs of trouble for the nation's overheated housing market in 2006, there was plenty of banter and laughter around the big mahogany and granite table inside the Federal Reserve where top policymakers gathered one day in March. Running his first meeting as chairman of the central bank, Ben S. Bernanke, in his collegial style, solicited observations about the economy from colleagues. Some of the Fed's staff earlier had talked about the potential risks, but in that meeting and in subsequent ones that year, there was a glaring absence of alarm about the dangers of the housing bubble and what might lie ahead for the broader economy.
November 27, 2011 | By Gale Holland and Sam Quinones, Los Angeles Times
For a clue to why California is losing its allure as a place to settle down, just ask Jennifer McCluer, who moved out of California in 2007 after she obtained her license in skin care. Unable to afford Orange County's sky-high rents, she opted for Portland, Ore. "A big motivator was that I lived with roommate after roommate after roommate," said McCluer, 30. "Friends said you could probably live on your own up here. The rent was a huge deal for me. " McCluer would like to move back, but it's still too expensive.
November 24, 2011
The Strand House Rating: half a star Rating is based on food, service and ambience, with price taken into account in relation to quality. ****: Outstanding on every level. ***: Excellent. **: Very good. *: Good. No star: Poor to satisfactory. Location: 117 Manhattan Beach Blvd., Manhattan Beach, (310) 545-7470, Prices: Salads, $11 to $15; appetizers, $13 to $18; pizzas, $13 to $19; mains, $23 to $39; sides, $8; desserts, $8 to $12. Corkage fee, $30 per bottle.
November 8, 2011 | By Gale Holland, Los Angeles Times
More than 49 million Americans live in poverty, an increase from previous counts that reflects heavy medical expenses for older people and high housing costs in Western states, especially California, according to new estimates announced Monday by the U.S. Census Bureau. The estimates, produced by a first-ever experimental recalibration of the federal model of hardship, adds 2.5 million people to the 46.6 million included in the official poverty count for 2010 released in September.
July 30, 2011 | Los Angeles Times
By Edmund Sanders The burgeoning tent encampment along this city's elegant Rothschild Boulevard may not be the start of a Tahrir Square-style revolution, but Israeli student protests over rising rents have exposed a deep middle-class frustration over the economy and are presenting Prime Minister Benjamin Netanyahu with his biggest domestic challenge yet. The protests began small in central Tel Aviv two weeks ago, but expanded in recent days...
July 17, 2011 | By Jessica Guynn, Los Angeles Times
As she unloaded groceries in the driveway of her Palo Alto home, Lisen Stromberg was approached by a real estate broker who asked whether she'd be willing to sell her five-bedroom house to a senior Facebook executive. "There is a house down the street selling for $6.3 million. I'll sell you mine for an even $6 million," she replied. Her tongue-in-cheek asking price was about twice what her house is worth, but the broker didn't miss a beat and said he would speak with his client.
June 16, 2011 | By Alana Semuels, Los Angeles Times
California home prices will continue falling this year and into next, but there's an upside in that it will allow more people to buy homes, according to the latest economic forecast from Chapman University's A. Gary Anderson Center for Economic Research. Home prices in California will drop 4.4% this year and 0.7% next year, according to the Chapman forecast, released Thursday. Construction spending has hit bottom and will rebound 6% next year, the forecast says, which suggests "that the construction sector will no longer be a drag on overall growth and job creation.
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