November 30, 2013 |
In Venice, 25-year-old Snapchat co-founder Bobby Murphy has bought a new two-bedroom house for $2.1 million, or nearly double the median price of homes in the neighborhood. A few blocks away, a three-bedroom town house with a rooftop sun deck was just rented for $7,000 a month - a year ago, an identical unit was renting for $5,900. "Totally Silicon Beach living," the ad on Craigslist proclaimed. And farther south in Marina del Rey, hundreds of apartments were recently completed and aimed at drawing the tech crowd, with high-speed Internet in every unit, free Wi-Fi in common areas and an online application process.
November 26, 2013 |
Home prices across the U.S. are showing signs of slower growth, but a recent upswing in new construction plans is injecting the market with optimism that the housing recovery has more momentum left. Building permits for new homes jumped 6.2% in October from a month earlier, reaching the highest level in five years, the Commerce Department said Tuesday. That followed a 5.2% increase in September. Analysts say the increase means builders will ramp up construction and, possibly, hiring in coming months.
November 24, 2013 |
As the hardiest of shoppers prepare for the annual Black Friday consumption frenzy, many are convinced it's their one shot at a great deal. But "that's not even close to the truth," said Matthew Ong, senior retail analyst at online personal finance company NerdWallet Inc. Bargain hunters can - and, in some cases, should - avoid the Black Friday weekend crush, several experts said. Many characterize the shopping bonanza as an expertly marketed ploy to capitalize on shoppers' fear of missing out. By dangling a small batch of irresistible savings, stores land hordes of hopeful shoppers all scheming to score the retail version of Willy Wonka's golden ticket.
CALIFORNIA | LOCAL
November 24, 2013 |
SACRAMENTO - Senate leader Darrell Steinberg says he has seen enough. He wants to rid California of incessant special elections to fill vacancies in the Legislature. The elections interrupt the legislative process, he asserts, and they bleed local taxpayers - roughly $1 million each time some lawmaker jumps ship, which has been increasingly often. Let the governor fill vacant seats and be done with it, the Sacramento Democrat contends. Amen. If it were possible, I'd order lawmakers to stop the music, grab a seat and stay put. This musical chairs game is too expensive for the adults, the taxpayers.
November 22, 2013 |
The big story in the NFL this weekend is Peyton Manning versus Tom Brady. Or is it? The matchup of two of the premier quarterbacks in the history of the game, the Denver Broncos' Manning and the New England Patriots' Brady, is where the NFL wants our goose bumps. There is no denying the attraction. Both teams are very good. Manning is chasing Brady's single-season touchdown passing record of 50. The game is in the prime-time Sunday night spot, where the best in the business, Al Michaels and Cris Collinsworth, broadcast and analyze the action.
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.