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BUSINESS
November 17, 2013 | By Andrew Tangel
NEW YORK - Steven Cintron kicks back on a small sofa a mere couple feet from his kitchen table. The breather from his construction job is welcome, even if cramped like everything else in New York City. The couch doubles as a bed for his pit bull, Bruno. Cintron's own queen-size mattress is shoved in the back with the TV, a hunched walk past the mini-fridge, three-burner stove and closet-size bathroom. Cintron's roughly 200-square-foot pad isn't just any tiny apartment in the Big Apple.
ARTICLES BY DATE
OPINION
April 24, 2014 | By Harold Meyerson
The most fundamental problem Los Angeles faces is that a huge number of Angelenos can't even afford to live here. Their pay is too low; their rent is too high. Last week, the real estate website Zillow released a survey commissioned by the New York Times that identified the 90 American cities where the median rent exceeded 30% of the median household income. (The 30% figure is the threshold at which rent is generally deemed unaffordable.) The survey ranked those 90 cities by the percentage of their residents' median income devoted to their median rent.
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BUSINESS
April 11, 2012 | By Alejandro Lazo
The Southland's economic recovery may be halting and tepid, but the cost of apartment living is rising sharply with rents in Los Angeles County predicted to soar 7.9% over the next year, according to a USC report. The annual Casden Multifamily Forecast by the university's Lusk Center for Real Estate showed rents last year rose in 39 of the submarkets the report tracks in the counties of Los Angeles, Orange, San Diego, Riverside and San Bernardino. That across-the-board increase is a change from 2010 when 26 markets showed flat or increasing rents and a big turnaround from 2009 when only three submarkets saw rents rising.
BUSINESS
April 20, 2014 | By Roger Vincent
Southern California's office market has improved ever so slightly - once again for landlords. In the just-finished first quarter of 2014, the overall vacancy rate fell less than a percentage point and monthly rents ticked up a nickel per square foot. The slight upward shift in occupancy was typical of the last several quarters. The region's office rental market stabilized after the recession, but has not picked up steam the way it did during previous economic recoveries. Nevertheless, vacancy is reaching its lowest level since 2008, when the Great Recession hit and prompted a downward trend in office use that finally is turning around, albeit at a glacial pace.
BUSINESS
February 3, 2012 | By Roger Vincent
Asia - most notably Beijing - is experiencing a boom in office rents fueled by rising demand and increasingly limited supply, a real estate brokerage said. Rents for prime office space in Beijing rose 75% last year to $130 per square foot per year, the highest increase of any city in the world in 2011, according to Cushman & Wakefield. Hong Kong remains the most expensive city for office space in terms of total occupancy costs at $244 per square foot, followed by London's West End at $239 a square foot and Tokyo at $197 a square foot.
BUSINESS
April 29, 2012 | By Roger Vincent
The Los Angeles City Employees' Retirement System has agreed to lease a floor in a vacant downtown Los Angeles office building owned by The Times. LACERS, as the city department is known, will rent 35,000 square feet for 10 years, according to real estate brokerage Studley. The department will move its headquarters to the fifth floor of 220 W. 1st St. this summer from a nearby building in Little Tokyo where it is spread over a similar amount of space on five floors. LACERS provides retirement benefits to the civilian employees of the city.
BUSINESS
August 20, 2013 | By Roger Vincent
It costs a lot of money to rent space for a store on Rodeo Drive in Beverly Hills -- about $575 per square foot per year -- but Southern California's priciest retail real estate is a steal compared with those in other prominent cities such as Hong Kong and New York. Hong Kong is the world's most expensive city for shopkeepers by a pretty wide margin, according to CBRE Group Inc. Rents for prime property there averaged $4,328 per foot in the second quarter, a recent report by the real estate brokerage said.
BUSINESS
November 29, 2009 | By Alejandro Lazo
Joyce Ann Cato is out of work and about to lose her San Bernardino home to foreclosure. The 62-year-old special-education teacher filed for bankruptcy protection last April in a bid to keep her house, which is worth less than what she owes on a mortgage she can't afford anymore. As Cato searches for another job, she and her daughter, Minjoy, have landed in a Pomona house that they rent for $1,795 a month, substantially less than the old mortgage payment but still a hefty chunk of the mother's $2,500 monthly income.
CALIFORNIA | LOCAL
October 19, 2011 | By Sam Allen, Los Angeles Times
The Vernon City Council on Tuesday approved a new policy for renting out city-owned dwellings, responding to criticism that the current system stifles open elections. Most of Vernon's roughly 100 residents live in city-owned homes and apartments, which in the past have been controlled directly by the City Council. Critics argue that the arrangement has prevented legitimate elections from occurring in the industrial city south of downtown Los Angeles. The new policy gives the housing commission, a seven-member board made up of local businessmen, residents and Vernon's mayor, the power to set rents for the homes and apartments based on an independent valuation.
WORLD
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...
OPINION
April 15, 2014 | Patt Morrison
George Steffes was a boy standing on Wilshire Boulevard when Dwight D. Eisenhower rolled by in a motorcade, and he was mightily impressed. But that's not what got him into politics. He went to 5 o'clock Mass one day in 1966 and ran into an acquaintance who was working on Ronald Reagan's gubernatorial campaign. Steffes volunteered. He went to Sacramento as Reagan's legislative aide and has been there ever since. He helped to found the first multi-person lobbying firm in Sacramento, Capitol Partners, where he's now “senior advisor,” no longer running the firm day to day. Almost 50 years in Sacramento have given him a long view of its roller-coaster politicking, including low points like the recent indictment of state Sen. Leland Yee. The ride has left him a bit queasy.
BUSINESS
April 13, 2014 | Andrew Khouri
Arie Shashou remembers simple pleasures from the decades spent in his Westside home: helping neighbors with small tasks; the daily chats with the former manager of the complex; the paintings that line the walls of his one-bedroom. "It was a happy time," Shashou, 77, recalled on a recent Sunday afternoon. "I was hoping to die here. " That was before Shashou received an eviction notice in March. Shashou's $825-a-month rent-controlled apartment, and 17 other units, will be demolished to make way for a pricey new apartment complex.
BUSINESS
April 5, 2014 | Tim Logan
The real estate market has long worked on a simple system: If you want to buy a new house, sell the old one and use the equity for a down payment. But the last few years of low ownership costs and rising rents have some move-up buyers trying a new approach: Buy the new house. Keep the old one. And rent it out. Real estate firm Redfin recently asked 1,900 prospective home buyers nationwide what they planned to do with their old house when they bought a new one. As you'd expect, the majority said they would sell.
BUSINESS
March 30, 2014 | By Anky van Deursen
Question: I have lived in Silicon Valley my whole life. I am 70 years old and retired. I recently applied for housing at an apartment complex and asked the leasing agent what my chances were of getting an apartment. He told me they had received a lot of applications. When I asked if it was worth it to apply at all, he shrugged and said I was "up against some Google people. " I was outraged. Am I being discriminated against, since he implied that I did not stand a chance of being chosen over a person who works for Google?
BUSINESS
March 26, 2014 | By Roger Vincent
American Tire Distributors Inc., one of the nation's largest tire distributors, has agreed to rent a massive new $65-million warehouse near Bakersfield in the Kern County city of Shafter. Landlord Roll Real Estate Development will build the 1-million-square-foot distribution center for the North Carolina tire and wheel seller at Roll Real Estate's Paramount Logistics Park. The new industrial building for American Tire will sit on more than 45 acres and include 234 trailer stalls and 201 loading docks.
CALIFORNIA | LOCAL
March 10, 2014 | By Emily Alpert Reyes
More than 100 pot shops have shut down since Los Angeles started enforcing its new rules restricting medical marijuana dispensaries, City Atty. Mike Feuer announced Monday. Feuer said he was now stepping up that work, hiring two new attorneys who would exclusively tackle prosecutions under Proposition D, the measure passed by voters last spring. Staffers are also focusing more attention on real estate professionals and landlords renting space to marijuana dispensaries, providing them with a new brochure that warns of steep fines and jail time for breaking the rules.
BUSINESS
November 15, 2012 | By Tiffany Hsu
Consumer prices continued to rise in October as rents and the cost of food climbed even as gas came down from its recent peak, the government said. Seasonally adjusted prices got a 0.1% boost in October from the previous month, according to the Labor Department. But the increase was smaller than the 0.6% surges in September and August. October's prices were up 2.2% from the year-earlier period. Quiz: How well do you know fast food? The cost of food went up 0.2% last month from September, according to the report, with meat, poultry, fish, eggs, fruits and vegetables all experiencing price hikes.
CALIFORNIA | LOCAL
March 7, 2014 | By Emily Alpert Reyes and Ryan Menezes
Sixteen-year-old Monica buried her face in a pillow, trying to rest for school the next day, as the clock ticked past 11 p.m. Sleep was a battle in the tiny apartment. Hunched at the other end of the family's only mattress, two of her brothers played a video game while a third lounged next to her, watching virtual soccer players skitter on screen. Her 2-year-old niece toddled barefoot near the door, toying with a pile of pennies. In all, seven people live in this wedge of space in Historic South-Central, including Monica's mother and the mother of the little girl - the longtime girlfriend of one of her brothers.
CALIFORNIA | LOCAL
March 3, 2014 | By Alicia Banks
"Is this a church?" Sidonie Smith said as she stood outside Grant Elementary in Santa Monica. "I'm so excited about the impact it will have on our community. I've been praying for a church to come here for 40 years. " Not all residents share Smith's enthusiasm. Since late January, some neighbors have expressed dissatisfaction with the arrangement between City of God church and its landlord, the Santa Monica-Malibu Unified School District. Six district campuses allow larger churches to rent space when schools aren't in session.
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