December 11, 2013 |
Although the jobless rate is at its lowest level in five years and the stock market has surpassed its pre-recession high, the economic gains have not reached many poor urban residents, and 2014 could be even worse, a new survey said Wednesday. Homelessness and hunger have increased and are expected to keep rising in many cities next year, according to the latest U.S. Conference of Mayors survey of 25 large and midsized metro areas. Last year's national poverty rate of 15% is still near the Great Recession's high of 15.1%, according to U.S. Census figures.
CALIFORNIA | LOCAL
October 3, 2013 |
The roads in greater Los Angeles are the most deteriorated in the United States, which costs Southern California drivers more than $800 a year, according to a national transportation analysis released Thursday. Los Angeles-Santa Ana-Long Beach ranks first among cities with more than 500,000 residents for the percentage of roads in poor condition, according to TRIP, a Washington, D.C.-based nonprofit group that studies transportation data and issues. According to the study, about 64% of roads in greater Los Angeles are in poor condition.
September 24, 2013 |
The pace of home price gains appears to be slowing nationally, even as metropolitan markets posted strong year-over-year increases in July, according to a leading index. Home prices rose 1.8% over June and 12.4% compared with a year earlier, according to the Standard & Poor's/Case-Shiller index of the 20 largest U.S. cities, released Tuesday. But 15 of those cities saw monthly gains moderate from June. "The rate of increase may have peaked," David M. Blitzer, chairman of the index committee at S&P Dow Jones Indices, said in a statement.
July 30, 2013 |
Home prices shot up in America's largest cities in May, according to a closely watched home price index. The Standard & Poor's/Case-Shiller index of 20 large U.S. cities, released Tuesday, rose 2.4% from April and 12.2% from May 2012. San Francisco saw the largest year-over-year increase as prices jumped 24.5%. Las Vegas and Phoenix saw the next largest gains with prices rising 23.3% and 20.6%, respectiviely. In Los Angeles, prices rose 19.2%. Southern California's most affordable ZIP Codes “Home prices continue to strengthen,” David M. Blitzer, chairman of the index committee at S&P Dow Jones Indices, said in a statement.
July 30, 2013 |
Home prices shot up in America's largest cities in May, rising at a pace not seen since the bubble days, according to a closely watched gauge. The Standard & Poor's/Case-Shiller index of 20 large U.S. cities, released Tuesday, rose 2.4% from April and 12.2% from May 2012 - the largest year-over-year gain since March 2006. Average home prices across the 20 cities have now reached their spring 2004 level. For the first time, two cities - Denver and Dallas - surpassed the peaks they reached before the 2008 financial crisis.
June 26, 2013 |
Home prices in large U.S. cities rose sharply in April, posting the biggest one-month gain in the history of a leading U.S. home price index. The Standard & Poor's/Case-Shiller index of 20 large U.S. cities rose 2.5% over March and 12.1% from April 2012. Every city tracked by the measure has now posted at least four consecutive months of year-over-year increases, indicating a broad and robust real estate recovery. Prices have risen so quickly in certain markets - including Los Angeles, San Diego and San Francisco - that some economists are warning of another housing bubble.