NEWS ARCHIVE


  • California Inc.: All eyes on the Mouse House as Disney reports its earnings
    Welcome to California Inc., the weekly newsletter of the L.A. Times Business Section. I'm Business columnist David Lazarus, and here's a rundown of upcoming stories this week and the highlights of last week. Friday brought news that the labor market is feeling its oats. Employers shrugged off the... Read More
  • Hot Property Newsletter: Where the action is
    Asked to name L.A.’s hottest housing markets with musicians, actors and sports stars, places like Beverly Hills, Malibu and West Hollywood immediately come to mind. This week’s roundup, however, includes several homes in the Encino area, and reminds us there is a lot going on in the Valley. Totally.... Read More
  • San Diego home sales hit lowest point since '07
    San Diego County’s median home price ended the year at $550,000, one of its lowest points of 2018, real estate tracker CoreLogic reported Wednesday. December’s price is reflective of reduced sales in the home market across the nation as rising mortgage rates at the end of the year kept buyers on... Read More
  • Home sales plunge in Southern California to lowest level since 2007, as prices inch up
    The housing market’s chill grew colder in December, as sales plunged across Southern California and home prices barely rose. The number of closed deals fell 20.3% compared with a year earlier, hitting the lowest level for a December since the start of the Great Recession and marking the sharpest... Read More
  • San Diego home price increases fall behind nation, California
    San Diego home price gains continued to slow in November compared to most of the nation and California, said the S&P CoreLogic Case-Shiller Indices released Wednesday. Resale home prices in the San Diego metropolitan area increased 3.3 percent in the year, the third slowest of the 20 cities covered... Read More
  • San Diego County apartment rush continues. More than 4,500 planned for '19
    San Diego’s rental income gold rush shows no sign of slowing down. More than 4,500 apartments are scheduled to open in 2019, outpacing last year’s total by roughly 1,000. Last year, the multifamily market was dominated by immense new projects in downtown — especially in East Village and Little... Read More
  • In the ’20s, this tower housed fancy cars. Now it will house travelers and tourists
    Ninety years ago, workers hurrying to their jobs on Spring Street witnessed a remarkable sight: a swanky garage that lifted Ford Model A’s and other Jazz Age roadsters as high as 13 stories to a coveted parking spot. A quarter century later, that same high-rise was converted into offices to serve... Read More
  • Jimbo's asks court to halt Horton Plaza redevelopment
    Specialty grocer Jimbo’s Naturally is asking a San Diego Superior Court judge to block any efforts by developer Stockdale Capital Partners to turn Horton Plaza into a technology office campus. The locally owned business earlier this month amended its existing lawsuit against the downtown center’s... Read More
  • Construction halts on $1-billion mixed-use complex in downtown L.A.
    Construction on Oceanwide Plaza, one of the biggest real estate development projects in downtown Los Angeles, has stalled in what may be a shortfall in financing from the project’s Chinese owner. The condominium, hotel and retail complex across the street from Staples Center is expected to cost... Read More
  • U.S. home sales plunged 6.4% in December, pushing down price growth
    U.S. home sales cratered in December, causing price growth to slip to the lowest level in nearly six years as the housing sector ended 2018 on a decidedly weak note. The National Assn. of Realtors said Tuesday that sales of existing homes plunged 6.4% to a seasonally adjusted annual rate of 4.99... Read More
  • Mayor Faulconer's housing speech sounded good, but will it work?
    Housing advocates are pleased with the mayor’s pledge to make it easier to build homes in the city, but there are issues that concern market experts. In last week’s State of the City address, Mayor Kevin Faulconer said he would use several measures to encourage more building, such as eliminating... Read More
  • Hot Property Newsletter: Did you blink?
    We’re declaring the holiday real estate doldrums officially over. This week’s lineup features heavyweights in the acting, singing and talk show hosting worlds. And for good measure, we’ve thrown in a pitcher, a 1960s sitcom favorite and the house that was the scene of a memorable television drama... Read More
  • Some home shoppers are calling it quits, convinced that prices have peaked
    Two years ago, Mike Saavedra moved to Southern California, equipped with a new high-paying healthcare job and a plan. The former Arizona resident would rent by the beach while becoming familiar with neighborhoods where he may want to purchase a house. But a few months after starting his search,... Read More
  • A $110-million splash in Malibu was the whale of all L.A. sales in 2018
    It was a year of new price heights for Los Angeles’ red-hot luxury housing market. But for all the $100-million spec homes and billion-dollar mountaintops debuted last year, off-market deals registered the biggest surprises. Coastal communities such as Malibu and Pacific Palisades saw price records,... Read More
  • Neighborhood Spotlight: Olive groves put La Mirada on the map
    La Mirada got its start when Andrew McNally, the map and atlas magnate who made his fortune producing globes and guides for 19th century America, left Chicago and in 1888 bought 2,300 acres of Southern California ranchland. He devoted 700 of those acres to his own pastoral haven. And though he... Read More
  • Is San Diego County done building single-family homes?
    If you are looking to buy a new single-family home this year, San Diego County might be a tough place to do it. Early estimates for the number of single-family homes coming out for sale this year are around 800, fewer than roughly 940 last year and 1,500 in 2017 and 2016. It reflects a trend of... Read More
  • US Bank Tower, once the West’s tallest building, goes on the block
    US Bank Tower in downtown Los Angeles, the tallest skyscraper in the West for decades, is on the block as its Singaporean owners test the limits of the city’s burgeoning real estate investment market. Standing 72 stories on Bunker Hill, the building holds a prominent position in business and in... Read More
  • Hot Property: Movie mogul Jeffrey Katzenberg gives up high ground in Utah
    On a scenic mountainside in Utah, the 14,100-square-foot vacation home of movie magnate Jeffrey Katzenberg has sold for $11.6 million. The longtime Disney executive, who co-founded DreamWorks SKG in 1994, first listed the property seven years ago for $20.5 million, records show. Set on 1.57 acres... Read More
  • Hot Property Newsletter: Revving back up?
    Traditional real estate thinking is that the housing market holiday stall lasts until the Super Bowl. But there’s still turnover in the meantime. This week’s offerings include places with ties to the music world, film history and the sports scene. Our Home of the Week in Alhambra struts its English... Read More
  • On Carbon Beach, a compound with 100 feet of water frontage lists for $35 million
    The sands of Carbon Beach are among the most exclusive in California. Listings don’t pop up often, but when they do, they often fetch a fortune. Over the last few years, home sales in the enclave have flirted with and broken the $100-million mark. The latest to hit the market, a contemporary compound... Read More
  • Sunlight REIT: We see some 'light at the end of the tunnel'
    Keith Wu, CEO of Sunlight REIT, says interest rates continue to be a risk factor to business, but is now "more contained." Read More
  • A 'sad day' for New York: Democratic congressman says Amazon backed out of HQ2 deal 'too quickly'
    "I wish Amazon had stuck it out a little bit longer, because in the long term I believe that this would have been a good deal for both," said Rep. Gregory Meeks, D-N.Y. Read More
  • Here's how Long Island City real estate could be impacted by Amazon
    Amazon has canceled plans for its Long Island City headquarters. CNBC's Diana Olick reports on the before and after impact on the real estate market. Read More
  • Citi strategist: We still like the tech sector in the US
    There are short-term ups and downs in the technology sector, but 5G networks and artificial intelligence are "unstoppable trends," and investors should position themselves based on these "longer-term certainties," says Ken Peng of Citi Private Bank. Read More
  • Why the Chinese market has become more optimistic now
    Ronald Wan of Partners Financial Holdings says the sentiment in Chinese markets has become more optimistic than before because investors can see that the authorities are tackling problems in the economy from "360 degree(s)." Read More
  • Google will spend $13 billion on U.S. real estate in 2019, expanding into Nevada, Ohio and Texas
    Google will expand into Nevada, Ohio, Texas and Nebraska for the first time, adding new data centers in those states and offices elsewhere. Read More
  • Dollar buyers are the big winners as prime London property tumbles
    Brexit fears are keeping international investors on edge. Read More
  • Mortgage applications drop 3.7% as homebuyers pull back
    The lowest interest rates in nearly a year were apparently not enough incentive to juice mortgage demand. Read More
  • Ventas CEO talks health-care REIT's four-pronged 'pivot to growth'
    Jim Cramer sits down with Ventas Chairman and CEO Deb Cafaro, who details her company's plan to drive growth through innovation and external growth. Read More
  • Cramer Remix: Don't let Wall Street convince you there's a 'Fed-induced bubble'
    Jim Cramer breaks down the real reasons behind the market's latest moves. Read More
  • Blend CEO on how his company is transforming home equity loan process
    CNBC's Hugh Son and Nima Ghamsari of Blend joins 'The Exchange' to discuss how Blend is an example for the future of home equity loans. Read More
  • Why seniors 'aging in place' is affecting home sales
    CNBC's Diana Olick reports on a new housing trend known as "aging in place." Read More
  • 'This is a union town' — NYC councilman says Amazon's HQ2 is 'antithetical' to our values
    New York City Councilman Jimmy Van Bramer also says he is against Amazon's plans for HQ2 in Queens because of the company's stances on immigration control. Read More
  • As more older Americans 'age in place,' younger buyers struggle to find homes
    With more seniors choosing not to sell their family home, an estimated 1.6 million fewer properties are now available. Read More
  • Australia's consumer is in pretty good shape: JB Hi-Fi CEO
    Richard Murray of JB Hi-Fi discusses the company's earnings report and performance amid the decline in Australia's house prices. He also says he is focused on "managing risk" because he runs a low-margin business. Read More
  • China will drive Australia's interest rate policies: COO
    Nick Twidale of Rakuten Securities Australia says China's slowing economy is the "dominant factor" that could drive Australia's interest rate policy, but declining house prices locally is "not far behind." Read More
  • Inside the Red Sox owner's $25 million home—and it's up for sale
    CNBC's Robert Frank takes us inside the $25 million Florida home of billionaire John Henry, owner of the Boston Globe and the Boston Red Sox. And it's up for sale. Read More
  • Eddie Lampert's deal to buy Sears granted approval, as retailer is given a second life
    Sears Chairman Eddie Lampert's $5.2 billion deal to buy the retailer is expected to save 425 stores and roughly 45,000 jobs. Read More
  • Americans are starting to feel better about buying homes — sort of
    The share of Americans who say it is a good time to buy a home increased 4 percentage points to 15 percent in January compared with December, according to a monthly survey from Fannie Mae. Read More
  • Tax changes driving luxury NYC homeowners to Miami, says broker
    CNBC's Robert Frank talks with Citadel's Ken Griffin’s brokers, Tal Alexander and Oren Alexander, about a Miami estate that sold for $50 million. It is the most expensive single-family home ever sold in the Miami area, according to people familiar with the deal. Read More
  • Congress has yet to approve these valuable tax breaks for 2018
    Whether you own a home or you're shelling out for higher-education costs, Congress has yet to approve these breaks known as tax extenders. Read More
  • 4 of the 5 most affordable retirement spots are in this state
    Active adult communities website 55places.com has compiled the most affordable places to retire in the U.S. , and four of the top five spots can be found in Florida. Read More
  • Miami estate sells for a record $50 million
    An estate on Indian Creek Island sells for $50 million, making it the most expensive single-family home ever sold in the Miami area, according to people familiar with the deal. Read More
  • Weekly mortgage applications fall 2.5% despite a sharp drop in rates
    Mortgage demand continued to weaken, with homebuyers retreating the most last week. Read More
  • Home values are rising at the slowest rate in more than six years
    Home prices rose 4.7 percent in December, according to CoreLogic. That is the smallest annual gain since August 2012. Prices are still rising because of the shortage of homes for sale, especially on the lower end of the market. Read More