California housing crisis finally gets bold response it needed. Thanks to Newsom, Atkins.
The severity of California’s housing crisis is difficult to exaggerate. Families in which spouses both have solid middle-income jobs struggle to afford mortgages for condos, not just single-family homes. Families in which spouses both have lower-income jobs often share apartments with others. Many single employed people — and some families — have no choice but to live in their cars. The nation’s richest state is also, perversely, its most impoverished.
CIT Serves as Sole Lead Arranger on $41.6 Million Financing for California Apartment Complex
CIT Group Inc. announced on September 16th, that its Real Estate Finance business served as sole lead arranger on a $41.6 million loan for the acquisition and renovation of The Devonshire Apartments in Hemet, California.
A Man From California Sold Real-Estate On The Moon
Imagine owning your own home. For a lot of people, that’s the pinnacle of success; the American dream. It’s what many hard-working Americans spend decades trying to achieve. But for a moment, imagine what it would feel like if you owned an entire country or even the moon.
Victorious in recall, Newsom refocuses on California housing crisis
Fresh from beating back a recall, the governor signed a package of bills to address the California housing crisis. But what do these new laws mean for housing affordability in a state where median home prices have already shot past $800,000?
How is the housing market doing?
The last week or two, the public health numbers have started to rejoin the broader economic numbers with some signs of gradual progress. In addition, interest rates remain favorable and new listings resumed their uptrend last week. Rising mortgage applications and home sales have yet to materialize, but California consumers have gotten slightly less pessimistic about buying over the past month, so the rest of the year is expected to remain at or around the 400,000 unit benchmark through December.
