Many potential buyers have been undeterred by rising home prices throughout Southern California, despite high unemployment and cutthroat competition for houses entering the market, say realtors. Others, however, say they’ve been priced out of the state and have decided to leave—especially young, potential first-time buyers. Some experts are calling for a hike in mortgage interest…
Biden Administration Extends Mortgage and Foreclosure Relief for Homeowners
The Biden administration extended the mortgage relief and foreclosure ban programs through the end of June 2021 to help prevent people from losing their homes during the pandemic. “The COVID-19 pandemic has triggered a housing affordability crisis,” a Feb. 16 written statement by the White House says, with a recent study by the Center on Budget…
Anaheim Considers Rental Forgiveness Program for Tenants and Landlords
February 15, 2021
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The City of Anaheim is proposing a local rental assistance program for landlords to receive 80 percent of unpaid rent for up to a year, if they agree to waive the remaining 20 percent and not pursue evictions. The rental assistance will provide coverage from April 2020 through March. The rent subsidy program was created for landlords who “are having a hard…
Newport Beach Mayor Says Meeting State-Mandated Housing Quota Will Be Difficult
The mayor of Newport Beach said his city will face a challenge to add the required number of new units mandated by the state in an effort to create affordable housing in Orange County. Per California’s Regional Housing Needs Assessment (RHNA) mandate, Newport Beach needs to meet the state’s quota of 4,834 new high-density and…
Santa Ana Salvation Army Store Converted into Winter Homeless Shelter
February 9, 2021
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Orange County’s homeless residents are getting some protection from the winter with the reopening of a former Salvation thrift store that was converted into a shelter. The Santa Ana facility—which originally opened during the start of the COVID-19 pandemic last March—reopened its doors Feb. 8. Up to 55 people will be allowed to sleep overnight…
SoCal Association of Governments Approves Climate Change Resolution
Members of the Southern California Association of Governments (SCAG) have approved a resolution calling for the group to develop a regional framework that will help local governments prepare for anticipated future disruptions due to climate change. The resolution, which states that Southern California is facing a “climate change emergency” that is disproportionately affecting disadvantaged communities,…
Analyst Delivers Mixed Economic Message to SCAG
A business representative has delivered a mixed economic forecast to members of the Southern California Association of Governments (SCAG) at the group’s current two-week session. Randall Lewis, a non-voting member and business representative on the council who specializes in real estate, recently gave his regularly scheduled economic assessment to the group, which members say provides…
Economic Uncertainty Troubles Orange County Supervisor Lisa Bartlett
December 30, 2020
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Reflecting on a difficult year, Orange County Supervisor Lisa Bartlett says a new set of challenges awaits after the clock strikes midnight New Year’s Day. As the Southern California county grapples with a $200 million budget deficit, its board of supervisors is bracing for more financial hardship with the Dec. 31 expiration of the federal…
Experts Bullish on Orange County’s Economy at Chapman Annual Forecast
Southern California’s economic future—and particularly Orange County’s—is looking bright, experts said during Chapman University’s 43rd annual economic forecast. “I’m personally confident in the future of Orange County,” Mike Mussallem, CEO of Irvine-based medical technology company Edwards Lifesciences, said during the forecast roundtable held virtually on Dec. 17. “[My positive assessment is] due to the passionate…
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