The US housing market hits a record value of $47 trillion as the inventory shortage fuels a price boom
Tight inventory in the US housing market helped push its total valuation a new all-time record of $46.8 trillion in June, according to Redfin.
California could borrow a record-breaking $35 billion to tackle the housing crisis
California voters regularly name out-of-reach housing costs and homelessness as among the most important issues facing the state. Now lawmakers are calling their bluff. Next year the electorate will likely get the chance to put unprecedented gobs of money where its mouth is.
Why so many Americans feel trapped in their homes by their low-rate mortgages
Bob Wood, 66, has been thinking of selling his home in Mobile, Alabama. The finance professor and his wife, Terri, purchased the 5,000-square-foot house with a pool nearly a decade ago. “It’s probably time to downsize,” he said. They would also like to be closer to their grandchildren in Tennessee.
Some of California’s “cheapest” cities have seen the biggest rent hikes
Inland cities including Bakersfield, Fresno, Visalia and Riverside — once cheaper options than pricey places such as the Bay Area — are no longer refuges from California’s housing affordability crisis.
Managing Commercial real estate taxes in California’s challenging market
Without a doubt, it is difficult to find something upbeat about California’s current commercial real estate market. Property owners, economists and appraisers all agree that the market is facing one of the most challenging times in decades. For example, in San Francisco, an office tower that was worth $300 million in 2019 sold just a few months ago for less than $70 million. Several hoteliers in the city have stopped making payments on their loans, and national retailers that have been leaders in the market for decades have announced plans this year to close their San Francisco shops.
