Lusk

MARKETPLACE: How rising mortgage rates will and will not impact housing prices

Submitted by hoyt on Fri, 02/04/2022 - 09:52

By Matt Levin

Well, it’s finally happening, mortgage rates are rising. The average interest rate on a 30-year-fixed rate mortgage has reached 3.22%, according to a Freddie Mac survey. That’s the highest rate since May 2020. You might expect housing prices to drop or at least cool down as a result.

Here’s the theory: Higher mortgage rates mean higher monthly payments, which fewer buyers can afford, which means less demand and lower home prices. 

LAist: People With Full-Time Jobs are Struggling To Find Housing in Southern California

Submitted by hoyt on Mon, 01/24/2022 - 10:36

By Ethan Ward

People experiencing homelessness are often locked out of opportunities to find a place to live, despite working full-time.

Curtis Banks, 29, knows how difficult it is all too well. He’s been living in his car on and off for the past two years while working a full-time job sanitizing patient rooms, restrooms and hallways inside hospitals.

LAist: How Gov. Gavin Newsom Plans To Spend $2 Billion To Help Unhoused Californians

Submitted by hoyt on Tue, 01/18/2022 - 15:19

By Ethan Ward

When Governor Gavin Newsom announced his state budget proposal on Monday, he included an extra $2 billion to help unhoused Californians.

The California Blueprint builds on last year’s Budget Act that included $12 billion over two years to address homelessness.