NEWS ARCHIVE


  • Mortgage rates rise to a seven-year high
    The average rate on a 30-year fixed mortgage is nearing 5%, following a surge this week that put borrowing costs at their highest level since 2011, according to Freddie Mac. The sharp increase in mortgage rates — to 4.9% this week, from 4.71% last week and 3.91% a year ago — stems from the same... Read More
  • Hot Property: Ellen DeGeneres and Portia de Rossi flip the home script in Beverly Hills
    After spending much of the last year changing spots in Santa Barbara County, Ellen DeGeneres and Portia de Rossi are turning their attention back to L.A. In recent weeks, the entertainment power couple has bought a Beverly Hills home steeped in Old Hollywood history for $15 million. They’ve also... Read More
  • How the right words in listings can boost a home's sales price
    In real-estate listings, certain words (beautiful, captivating) and features (pizza oven, farmhouse sink) can swing a home’s sale price by thousands of dollars, according to research conducted by the real-estate firm Zillow. Crafting verbiage for a listing is all about making a home seem unique... Read More
  • Home title fraud: How it's done and how to protect yourself
    As an FBI agent through the 1990s, Art Pfizenmayer investigated title theft. But it was rare then. Today, it’s a growing problem. In 2008 when title theft was still uncommon, the FBI posted a notice about this house stealing scam, telling homeowners what to watch out for. A few years later in 2012,... Read More
  • Eddie Lampert's Sears plan would hand his hedge fund $1 billion
    Eddie Lampert’s hedge fund has a new plan for cutting Sears debt. The main beneficiary would be Eddie Lampert’s hedge fund. Lampert, Sears Holdings Corp.’s chief executive officer, called this week for the underperforming retailer to stanch the bleeding by paying off certain loans — many of them... Read More
  • Southern California home prices rise 7%, though some say the market is slowing
    Southern California home prices kept rising in August, but sales fell as questions grow over whether the torrid housing market is finally cooling. The median sales price in the six-county region rose to $535,000, up 1% from July, research firm CoreLogic said Wednesday. The median — the point at... Read More
  • New record: San Diego home price hits $583K
    San Diego County’s median home price hit an all-time high of $583,000 in August, real estate tracker CoreLogic reported Wednesday. The previous record was $579,750 in July. Home prices have been reaching new records for several months, which analysts attribute to job growth, a strong economy and... Read More
  • 'Autumn chill'? San Diego resale home price gains slow
    Existing home prices in July for the San Diego metropolitan area increased 6.2 percent in a year, its slowest pace since January 2017, said the S&P CoreLogic Case-Shiller Indices released Tuesday. San Diego’s price increases were the second-slowest in the West, only ahead of Portland, said the... Read More
  • California Inc.: Trump's tariffs could take toll on holiday-season sales
    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. A milestone to note on the media front: For the first time, advertisers are spending more... Read More
  • What to consider when you're deciding whether to sell and move for better schools
    Dear Liz: I’m 47, married, with one child in private elementary school because the public school option for our neighborhood is not good. We earn a combined $260,000 per year. (We know we’re fortunate, as we come from lower-income circumstances). I’ve eliminated all of my credit card debt and owe... Read More
  • The pros and cons of moving for better schools
    Dear Liz: I’m 47, married, with one child in private elementary school because the public school option for our neighborhood is not good. We earn a combined $260,000 per year. (We know we’re fortunate, as we come from lower-income circumstances). I’ve eliminated all of my credit card debt and owe... Read More
  • Hot Property: 'Idol' Adam Lambert doubles down in the Hollywood Hills
    It’s the latest stop on the real estate tour for "American Idol” alum Adam Lambert. The singer with the showstopping voice has bought a modern home in the celebrity-popular Hollywood Hills for $6.5 million, records show. Lambert, who this month has been performing with rock band Queen in Las Vegas,... Read More
  • Developer Rick Caruso goes small with new Pacific Palisades shopping district
    The heart of Pacific Palisades was choked with dozens of workers in hardhats Friday as they hurried to put the finishing touches on Palisades Village, the newest project by shopping center mogul Rick Caruso. The workers washed storefront windows, set down sod in the village’s park area and laid... Read More
  • Hot Property Newsletter: Now that’s entertainment
    The deep pockets of the entertainment industry continue to shape L.A.’s real estate market. This week we’ve loaded up on actors, but have rounded out the lineup with a singer, a radio host and even a news correspondent. Farther afield, we spied an interesting East Coast spread that was home to... Read More
  • Non-banks are back and bigger than ever
    In the years leading up to the 2008 financial crisis, mortgage lenders fueled the housing bubble by issuing loans to high-risk borrowers. But instead of funding the loans by tapping deposits, as banks had done for generations, many lenders borrowed against lines of credit — and then sold the mortgages... Read More
  • After years of dramatic increases, rents are finally showing signs of slowing
    After a remarkable run-up in housing costs that has crimped budgets, forced families from their neighborhoods and contributed to homelessness, it appears rent growth is slowing in Southern California and across the nation. Experts attribute the tapering in part to an increase in new apartment buildings... Read More
  • ‘Duck Dynasty’ co-creator Deirdre Gurney flies the coop in Manhattan Beach
    Deirdre Gurney, a co-creator and producer of the reality show “Duck Dynasty,” has put the finishing touches on a home sale in Manhattan Beach. The property in question, a remodeled Traditional-style house, went under contract roughly a week after hitting the market in July. It sold for the asking... Read More
  • San Diego leads nation in income growth
    The national economy keeps growing and by at least one measure, San Diego is the nation’s No. 1 boom town. The San Diego area turned in the best performance in U.S. personal income growth, according to data released this week by the Census Bureau. Median household income in San Diego increased... Read More
  • Top Sales: Futuristic home in the Hollywood Hills fetches $15.75 million
    New and old trophies in Beverly Hills and a futuristic-vibe showplace in Hollywood Hills West were among the high-priced properties that traded in Los Angeles in August. Here’s a closer look. $15.75 million — Hollywood Hills West On Magnetic Terrace, a modern showplace on more than half an acre... Read More
  • Tami Halton Pardee’s vision: homes for all
    Tami Halton Pardee is on a first-name basis with the famous who purchase her homes, as well as those who can’t swing the rent on a mere room — she’ll chat up “Sam at Starbucks,” or handyman Daniel, who spends nights under a lifeguard tower near her home. The founder and CEO of Venice-based Halton... Read More
  • 'Very slow' cooling of China's economy was expected: BNP Paribas
    Tianhe Ji of BNP Paribas says the slowing growth of China's economy is expected to continue for the rest of the year and 2019. Read More
  • Higher rates hitting both home buyers and builders
    CNBC's Diana Olick reports that interest rates hit a near seven-year high, hitting homebuilding stocks and home buyers. Read More
  • Bank of America downgrades homebuilder stocks as Wall Street grows increasingly bearish on housing
    Bank of America Merrill Lynch downgrades homebuilder stocks Toll Brothers, PulteGroup and NVR and lowers its homebuilding estimates for 2018 and 2019. Read More
  • Heavier rains and catastrophic floods force cities to drain lakes, ponds with the help of cloud tech
    Intense storms are becoming much more frequent, damaging local infrastructures and budgets. New companies are turning to technology to find ways to mitigate the impact of costly flooding nationwide. Read More
  • Real estate sales fall in high-tax states, surges in low-tax
    CNBC's Robert Frank reports on the story of two markets in luxury real estate. Read More
  • Here's what to watch as real estate drifts into two different markets
    Jonathan Miller, Miller Samuel CEO, joins 'Squawk Box' to discuss trends he sees in the housing market and how the tax laws in high-tax and low-tax states are going to impact investors. Read More
  • Housing stocks are having their worst year since 2008, and some see even more distress
    Two major homebuilder stock-tracking ETFs, the ITB and the XHB, are on track to post their worst years since 2008 — and some strategists see further downside. Read More
  • Accessing the headwinds facing Japan's hospitality sector
    Hisashi Furukawa of Japan Hotel REIT Advisors said geopolitical tensions won't have a 'major impact' on Japanese tourism in the long run. Read More
  • Housing stocks get hit hard amid weak data and worries on Wall Street about rising interest rates
    Housing stocks fall broadly after analysts at Credit Suisse lowered their ratings and price targets on several companies in the sector. Read More
  • Mortgage applications tank 7.1% as interest rates surge
    CNBC's Diana Olick reports on mortgage applications falling. Read More
  • Weekly mortgage applications tank 7.1% as interest rates surge to a near 8-year high
    Homebuyer demand is strong, but affordability was weakening even before rates began to rise, as tight supply pushed home prices sharply higher. Read More
  • Trump claims he has 'no financial interests in Saudi Arabia' — but he makes lots of money from it
    President Donald Trump's new tweet denying a financial stake in Saudi Arabia comes amid a growing furor over suspicions that the country's rulers ordered the killing of Saudi journalist Jamal Khashoggi in the Saudi Consulate in Istanbul. Read More
  • Trump Organization's Scottish housing plan receives record number of objections
    The Trump Organization has received a record number of objections to its proposed new housing estate in Scotland. Read More
  • Homebuilder sentiment improves in October as lumber prices fall
    A monthly reading of homebuilder sentiment rose one point in October. Builders cite the drop in lumber prices as well as strong demand for housing as the driver of the gain. Builders continue to be faced with higher costs for land and labor.  Read More
  • NAHB sentiment index at 68 in October
    CNBC's Diana Olick reports the latest read on the housing market from the National Association of Home Builders (NAHB). Read More
  • 1 in 3 baby boomers say college debt still stands in the way of saving for retirement
    Across all generations, Americans are delaying saving for retirement and purchasing a home because of their student debt, according to a new report.  Read More
  • Here is a map of the 142 Sears and Kmart stores set to close
    Sears will continue to operate through the holidays, as it looks to find a buyer for the business. It will also continue to evaluate its remaining stores' performance. Read More
  • Uncertainty on how the housing market will react to rates above 5 percent
    CNBC's Diana Olick reports of uncertainty in the housing market as lenders react to rising rates. Read More
  • Cramer’s Exec Cut: Finding stability during market uncertainty
    Jim Cramer discusses steady secular trends with Carnival Corporation, Canopy Growth and more. Read More
  • Thousands line up for zero-down-payment, subprime mortgages
    Following the subprime mortgage crisis, low-income borrowers with low credit scores were locked out of homeownership. Now a major player in the subprime crisis is backing new loans to the same borrowers but with a far different product.  Read More
  • Rising prices and interest rates are a 'one-two punch' to homebuyers, Lennar chairman says
    "Of course, we respect, like many, the independence of the Fed, but at the same time, would we like them to slow down the pace? Of course we would," Lennar Executive Chairman Stuart Miller said. Read More
  • Cramer Remix: The retail reality could be good for consumers, but not stocks
    Jim Cramer explains how the cost of tariffs will squeeze retailers' margins. Read More
  • Rising interest rates having a big impact on potential home buyers, Lennar CEO says
    CNBC's Diana Olick is joined by Stuart Miller, CEO of Lennar, to discuss how interest rates are a "one-two punch" for housing. Read More
  • The economy's not as strong as the numbers indicate, says Starwood Capital Group CEO Barry Sternlicht
    Jim Cramer sits down with Barry Sternlicht, chairman and CEO of Starwood Capital Group, amid a vigorous sell-off to hear his take on the U.S. economy. Read More
  • Low inventory and increasing prices catching up with the housing market, says economist
    Cheryl Young, Trulia senior economist, and Danielle Hale, Realtor.com chief economist, discuss the state of the U.S. housing market. Read More