Today’s News Synopsis:
According to a recent survey by Porch, the majority of neighbors people cannot stand are the nosy ones. Spending on construction increased in June by 0.4% month-over-month and 4.5% year-over-year. More and more young people are expected to be able to own a home coming soon.
In The News:
Curbed – “Mapped: Hollywood’s booming development landscape” (7-2-2018)
“As anyone who moves regularly through the neighborhood already knows, Hollywood is changing daily. New hotels, offices, and apartments are rapidly adding to the neighborhood’s stock of buildings.”
NAHB Now – “California Developer Helps Homeless Veterans” (7-2-2018)
“An estimated 20-25% of the U.S. homeless population are military veterans. So in an effort to help a portion of the needy in the Los Angeles area, Mercy Housing California, a regional arm of the national nonprofit developer, created a plan and allocated the funding for El Monte Veterans Village.”
Bloomberg – “U.S. Homeownership Expected to Rise for the Young” (7-2-2018)
“The “American Dream” could be on the verge of a rebound for some. The homeownership rate for young Americans will probably increase over the next decade to close to 60 percent from below 40 percent in 2016 as their incomes increase and they start families, according to Freddie Mac estimates.”
The Real Deal – “LA’s tight industrial market may be driving tenants away: report” (7-2-2018)
“The industrial market in Los Angeles is hot, but is it too hot? The county may see its second straight quarter of negative net absorption, as firms look elsewhere for cheaper space and less competition. Now, the Inland Empire may be the new new thing.”
Builder Online – “Survey Says People Don’t Like Their Nosy Neighbors” (7-2-2018)
“According to a new survey from Porch of more than 1,000 people found that the worst neighbors are nosy neighbors. People described these bothersome neighbors as those who cross the line of a friendly wave into peeping into other’s yards, getting too personal when meeting at the mailbox or just a general invasion of privacy.”
Realtor.com – “Why the Middle Class Can’t Afford Life in America Anymore” (7-2-2018)
“After spending his days teaching AP American history and economics at the public Live Oak High School in San Jose, Calif., Matt Barry drives for Uber.”
Mortgage Professional America – “US is top 3 globally for real estate transparency” (7-2-2018)
“Real estate investors in the US can be assured that the regulators are toughening their stance on transparency, meaning the country ranks among the best in the world.”
Inman – “Construction spending rose 0.4% from May to June” (7-2-2018)
“Construction spending is up 4.5% year-over-year according to the latest data from the U.S. Census Bureau.”
Hard Money Loan Closed
Roseville, California hard money loan closed. Real estate investor received loan for $198,000 on this single family property appraised for $305,000.
Bruce Norris will be speaking at the Stay Put or Cash Out with LA South REIA on Monday, July 9.
Bruce Norris will be speaking at the ThinkRealty Irvine Conference & Expo on Saturday, July 14.
Bruce Norris will be speaking at the Stay Put or Cash Out with LA REIA on Tuesday, August 7.
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