Tag: Real Estate

Everyone dreams of owning a home where they can create memories, welcome guests and find respite. While that dream can be difficult to achieve in California — where the need for housing is urgent — some visionary builders are paving a new path to homeownership.

California’s real estate market is in an intriguing position right now. It is one of the most expensive areas of the world in terms of property prices, and yet this is creating a conundrum for many residents who simply cannot afford to stay put, causing the population to fall.

For most of the last decade, California has seen a steady outmigration to other parts of America, one that has somewhat outnumbered the also steady in-migration.

California needs to dramatically increase the number of homes we are building in order to shelter the nearly 40 million people who live here – 3.5 million new homes to be exact, including apartments, multi-unit buildings, mixed use, etc.

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.

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?

Gov. Gavin Newsom of California has sold his Marin County home in the enclave of Kentfield, CA, for $5,895,000. The politician and his wife, the actor and filmmaker Jennifer Siebel Newsom, placed the remodeled midcentury modern mansion on the market after Newsom took office. His family has since moved to the Sacramento area.

Long Beach’s California Heights neighborhood, the city’s largest historical district, was baptized in oil. The area just north of Signal Hill was once grazing land for Jotham Bixby’s livestock on his family’s Bixby Ranch, later named Rancho Los Cerritos. When oil was discovered on Signal Hill in 1921, Jotham Bixby’s Land Company subdivided the tract and offered individual sites for sale, strongly suggesting that you’d become a wealthy landowner once oil was struck in the lowlands, mere blocks away from the oil-rich hill.

The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today unveiled a Fair Housing and Equity legislative package designed to help address ongoing fair housing and equity issues that persist, especially for communities of color. The package is part of C.A.R.’s Californians Need Housing Now initiative, which urges the Legislature to enact policies that address California’s worsening housing affordability and availability crisis with increased housing supply and fair housing reforms.

While the roll-out of the COVID-19 vaccine has left a lot of question marks about the future of the U.S. economy at-large, analysts expect the housing market to remain strong and stable in the coming year.