Commentary Dean Preston, a member of the San Francisco Board of Supervisors, has set the wheels in motion to put a residential vacancy tax on the November ballot. His proposed “Empty Homes Tax” is a direct threat to one of the fundamental tenets of our American way of life: the concept of private property. What’s…
San Francisco Homeowners, Beware
March 3, 2022
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State Rejects LA Housing Plan Update, Seek More Ambitious Rezoning Effort
February 24, 2022
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LOS ANGELES—State housing regulators rejected Los Angeles’ blueprint for increased development over the next eight years, telling the city it must re-zone by mid-October to accommodate 255,000 new homes, instead of over the next three years, or risk losing access to affordable housing grants, it was reported Feb. 24. The Los Angeles City Council unanimously…
Bill Would Preclude California Universities & College Housing Construction from CEQA
February 23, 2022
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While the ruling to freeze enrollment at University of California–Berkeley is under appeal a bill was introduced Feb. 22 that would make California public universities’ housing developments exempt from environmental review. Senate Bill 886, introduced by Sen. Scott Wiener (D-San Francisco) would make University of California, California State University, and California Community College housing development…
Bill Would Preclude California Universities and College Housing Construction from CEQA
February 23, 2022
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While the ruling to freeze enrollment at the University of California–Berkeley is under appeal, a bill was introduced on Feb. 22 that would make California public universities’ housing developments exempt from environmental review. Senate Bill 886, introduced by Sen. Scott Wiener (D-San Francisco) would make University of California, California State University, and California Community College…
Existing Home Sales Surge 6.7 Percent in January, Prices Climb for 119th Month Straight
Sales of previously occupied homes in the United States surged by a forecast-beating 6.7 percent in January, with the supply of existing homes for sale falling to a record low and prices again ticking up, according to the National Association of Realtors (NAR). Existing-home sales rose to an annual rate of 6.5 million in January,…
LA to Develop Guidelines on Building Multiple Units on Single-Family Lots
February 8, 2022
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Los Angeles will draft standards to guide the implementation of the statewide Senate bill that allows up to four housing units to be built on a single-family-zoned lot. Senate Bill 9 (SB 9) was introduced last year as a possible solution to alleviate California’s housing crisis, and was signed into law by Gov. Gavin Newsom…
James Hardie Sets Higher Profit View as US Housing Market Boom Continues
James Hardie, the world’s largest fiber cement maker, on Monday raised its annual profit forecast for the fourth time this fiscal year, and guided to even higher earnings next year, driven by a boom in the housing sector in North America. New home sales in the United States, which makes up 70 percent of the…
US Housing Market Grows $6.9 Trillion in 2021, Biggest Annual Gain in History
A fresh datapoint has emerged showing just how red-hot America’s housing market has been as the pandemic’s work-from-home revolution sent people on a buying spree that collided with slim supply to send the value of the U.S. housing stock soaring. The total value of homes in the United States surged by $6.9 trillion in 2021, according…
US Pending Home Sales Fall for Second Straight Month in December
WASHINGTON—Contracts to buy U.S. previously owned homes fell for a second straight month in December amid record low inventory. The National Association of Realtors (NAR) said on Thursday its Pending Home Sales Index, based on signed contracts, dropped 3.8 percent last month to 117.7. Pending home sales fell in all four regions. Economists polled by…
US Pending Home Sales Drop in November; Omicron Poses Risk: NAR
Contracts to buy U.S. previously owned homes fell unexpectedly in November as limited housing stock and lofty prices crimped activity, and the explosion of new coronavirus cases from the fast-spreading Omicron variant poses a risk to the housing market headed into 2022, a trade group said on Wednesday. The National Association of Realtors (NAR) said…
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