NEWS ARCHIVE


  • Blackstone bets big on Amazon, e-commerce with $18.7-billion acquisition
    The mall is now a warehouse, and Blackstone Group is betting $18.7 billion on the shift. That’s how much the New York investment manager is paying for 179 million square feet of urban logistics properties — the warehouses used by Amazon.com Inc. and other retailers to fulfill orders from online... Read More
  • Amid housing slowdown, Southern California prices rise slightly in April
    The sluggish Southern California housing market showed signs of perking up in April, as prices ticked up one month after they fell for the first time since 2012. In a report released Wednesday, real estate firm CoreLogic said the six-county median sales price climbed 1.4% from a year earlier to... Read More
  • Home price gains slow in L.A. and other cities for 12th straight month
    Home price gains in 20 U.S. cities decelerated in March for a 12th straight month, suggesting that sellers’ demands have made properties unaffordable for many. The S&P CoreLogic Case-Shiller index of property values increased 2.7% from a year earlier, the slowest since August 2012, data showed... Read More
  • A little-noticed zoning twist is set to spark a home-building boom in L.A.
    On a recent spring day, bulldozers leveled the low-slung Holiday Auto Plaza in Palms, home to several repair shops. Just another unremarkable commercial building being swept away — except for the intriguing turn that its replacement might mark for L.A.’s housing crisis. The Venice Boulevard site... Read More
  • Legal weed can raise the roof on home prices
    The societal ramifications of state-legalized marijuana — a $10.4-billion industry — are being hashed out, study by study. And home values are one of the effects under scrutiny. The link between real estate prices and weed might not be readily apparent, until one considers the en vogue vibe of... Read More
  • Selling mom’s house may require an appraisal first
    Dear Liz: My mother recently passed away. The title to her home was held in the family trust. My siblings and I are in the process of clearing out the house in preparation for a sale. Do we need to obtain a “step-up” basis appraisal before the sale to use in determining capital gain on the home?... Read More
  • The Pitch: Best of Brentwood
    In the high-caliber housing market of Los Angeles, every neighborhood has a distinct style, offering a list of pros and cons that can leave even the surest of buyers second-guessing. Better views lead to longer commutes. Living closer to the action may mean sacrificing space. The Pitch digs into... Read More
  • State levies record fine against owner of upscale Santa Monica hotel
    The state Coastal Commission on Wednesday levied a record $15.6-million penalty against the owner of an upscale coastal hotel in Santa Monica because the hotel was built without proper permits that include providing for more affordable lodging in the area. The commission, at a meeting in Oxnard,... Read More
  • Prime Beverly Hills development site sells for $130 million to New York developer
    A long-vacant prime lot on Wilshire Boulevard in Beverly Hills has sold for $130 million to an international partnership that plans to build upmarket condominiums on the site. New York luxury real estate developer Shvo bought the block-long property at 9200 Wilshire Blvd. from New Pacific Realty... Read More
  • Tom Barrack saved Michael Jackson from default. Barrack’s investors say they need a rescue too
    As the global recession deepened in 2008, Tom Barrack was in his element. Over the course of two decades, the chief executive of Los Angeles-based Colony Capital had carved out a reputation as a real estate investor who placed winning bets when others ran scared. So, at the bidding of a longtime... Read More
  • L.A. homes near mass transit often sell for more, a study finds
    Access to public transit is the new granite countertop when it comes to home listings. That’s the takeaway from a study by real estate data firm Trulia, which looked at the language used to describe homes on the market in Los Angeles County from 2013 to 2018. Mentions of the city’s transit almost... Read More
  • California Inc.: Southern California home prices dip for the first time in years
    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. In the market for new digs? We learned Friday that the SoCal median home price dipped slightly... Read More
  • Home prices fall in Southern California for the first time in 7 years
    The Southern California median home price dipped slightly in March from a year earlier, the first annual decrease since 2012 and a sign of a remarkable downshift from the once-sizzling regional housing market. The 0.1% drop, reported Friday by CoreLogic, means prices for the six-county region were... Read More
  • How a hijacked listing for one of L.A.’s most expensive homes led to a $60-million lawsuit
    It’s hard to overstate the opulence showcased in developer Bruce Makowsky’s $150-million spec house, dubbed “Billionaire.” Perched above Bel Air, the four-story mansion offers a world of pure imagination within its walls. Jockeying for attention across 38,000 square feet are 12 bedrooms, 21 bathrooms,... Read More
  • U.S. new-home sales climbed 4.5% in March, and prices sank
    Sales of new U.S. homes increased 4.5% in March, the third straight monthly gain as the housing market appears to be cautiously recovering from a mortgage-rate spike last year that caused homebuying to slump. The Commerce Department said Tuesday that new homes sold at a seasonally adjusted annual... Read More
  • Facing retirement with parent student loans? Transfer them to the kids
    Dear Liz: I’m 60. Should I take a $50,000 distribution from my 401(k) to pay down my $146,000 parent Plus college loan and then try to refinance the balance with a private lender at a lower interest rate? I have $364,000 in my 401(k). I’m paying 8% interest on the parent Plus loan and planning... Read More
  • U.S. housing starts drop to lowest level in two years amid affordability concerns
    U.S. new-home construction unexpectedly fell in March, decelerating to the slowest pace since May 2017 and suggesting builders remain wary even as lower mortgage rates and steady wage gains offer support to consumers. Residential starts fell 0.3% to a 1.139-million annualized rate after a downwardly... Read More
  • Actress-scout Ronnie Mellen asks a whopping $25 million for 1,500-square-foot home in BHPO
    If you think home prices are too steep in your neighborhood, divert your eyes from the Beverly Hills Post Office area. Actress turned location scout Ronnie Mellen is asking $25 million for her 1,497-square-foot home. That’s a cool $16,700 per square foot. For reference, the iconic Playboy Mansion... Read More
  • Is the starter home a thing of the past? In L.A., it all depends on location
    The starter home has long served as the steppingstone into homeownership. But lately it’s become difficult to tell first-timers from repeat home buyers, according to Zillow. Both groups have similar preferences when it comes to square footage (2,000) and bedroom count (3), the real estate firm... Read More
  • Warner Music turns former Ford assembly plant into Arts District music factory
    Employees of Warner Music Group Inc. for the last several weeks have been toiling in the same red brick building where men who could have been their great-grandfathers put together shiny black automobiles. Their new workstations line the route of an assembly line built more than a century ago to... Read More
  • US housing starts total 1.269 million in May, vs 1.23 million expected
    CNBC's Rick Santelli reports on the May housing starts and building permits. CNBC's Steve Liesman joins "Squawk Box" with his analysis. Read More
  • Homebuilder sentiment inches lower despite demand for single-family homes
    The nation's homebuilders reported solid confidence in the housing market in June, but levels dropped slightly due to concerns over trade issues, the high costs of construction and the lack of skilled labor. Read More
  • 'Trump Heights': Netanyahu dedicates new settlement in Golan Heights to US president
    U.S. ambassador to Israel David Friedman called the gesture a "birthday present" to Trump, who turned 73 on Friday. Read More
  • Here's how the rise of non-bank lending is impacting the housing market
    housing warning with Chris Brummer, Georgetown Law professor, and Olick Read More
  • Wedbush analyst explains homebuilder Lennar upgrade
    Jay McCanless, Wedbush Securities, joins 'The Exchange' to discuss why he upgraded Lennar to outperform. Read More
  • These 15 cities boast the best 20-year returns on home values
    From 1999 to 2019, home values have risen more than 90% nationwide. In some places, the gain is above 400%. Read More
  • These home improvements can help shave money off your utility bills
    Here's where homeowners can start if they want to cut their energy use and utility bills. Read More
  • Valuations in China and Hong Kong look 'fairly decent': Investor
    Binay Chandgothia of Principal Global Investors says he would start looking to add exposure to stocks in Hong Kong and China as they sell off more. He says the markets could fall up to 10 percent further in the worst case. Read More
  • Mortgage lender Quicken Loans sees record loan volumes
    "We're having record months. This quarter will be the largest quarter in the company's history," Quicken Loans CEO Jay Farner says. Read More
  • Leading mortgage lender Quicken Loans sees record loan volumes
    "We're having record months. This quarter will be the largest quarter in the company's history," Quicken Loans CEO Jay Farner says. Read More
  • Leading mortgage lender Quicken Loans sees record loan volumes
    "We're having record months. This quarter will be the largest quarter in the company's history," Quicken Loans CEO Jay Farner says. Read More
  • Mortgage applications surge as rates drop
    Mortgage rates are hitting their lowest level in 2 years. Matt Graham, Mortgage News Daily, and CNBC's Diana Olick join the 'The Exchange' to discuss where mortgage rates could go from here. Read More
  • Mortgage lenders finally see bigger profit margins ahead as demand surges
    Consumer demand for mortgages is way up, thanks to falling interest rates. Now lender expectations are up as well. Read More
  • Here's what the surge in mortgage applications means for the housing sector
    Bob Broeksmit, president and CEO of the Mortgage Bankers Association, and CNBC Senior Economics Reporter Steve Liesman, join "Squawk Box" to discuss the increase in mortgage application volume. Read More
  • Mortgage applications surge as rates continue to drop
    CNBC's Diana Olick reports on the latest mortgage application data. Read More
  • Mortgage applications soar as refinances surge on a big rate drop
    Mortgage applications surged 26.8% in just one week. Volume was 41% higher than the same week one year ago. Read More
  • Redfin CEO Glenn Kelman: Low housing inventory to limit sales
    Redfin CEO Glenn Kelman joins CNBC's "Closing Bell" for an exclusive interview. Read More
  • Harvard study: Remodeling spending to slow
    CNBC's "Power Lunch" team breaks down a Harvard study that shows remodeling slowing with Kermit Baker, director of Remodeling Futures Program and chief economist at the American Institute of Architects. Read More
  • Dream of spending your retirement on the beach? Here are the best towns
    Spending your days with your toes in the sand may sound like the perfect retirement. Here are top beach towns for retirees, from U.S. News & World Report. Read More
  • The majority of consumers are wildly wrong about what it takes to get a mortgage
    The majority of consumers think it is much harder to qualify for a home loan than it actually is, according to a recent Fannie Mae survey of more than 3,000 people. Read More
  • Why foreign buyers invest in US residential real estate
    Chris Marlin of Lennar International says foreign buyers of U.S. property have been a "fair mixture" of seeking yield and self-use in the past few years. He also weighs in on the impact of the U.S.-China trade war on Chinese real estate investments in America. Read More
  • Investors are hiring Uber drivers to scout houses to flip
    CNBC's Diana Olick reports on how Uber drivers are getting paid to scout potential properties for investors as the house flipping market fizzles. Read More
  • Home flippers hire Uber and Lyft drivers to scout properties in a pricey housing market
    Competition is so fierce in the home flipping market that some investors are hiring Uber and Lyft drivers to help them scour a wider territory for possible properties. Read More
  • Fed will likely cut rates based on geopolitical issues, strategist says
    Jeffrey Taylor, co-founder and managing director of Digital Risk, says he'll be watching the U.S. housing market over the next six months as an indicator of the American economy. Read More
  • White House invites Trump business allies to forum in search for a Middle East 'deal of the century'
    The meeting is part of Trump's plan to strike the "deal of the century" for Israeli-Palestinian peace. Colony Capital's Tom Barrack will attend. Read More