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The Southern California housing market is downshifting. ... Inflation and economic growth play a major role in the direction of mortgage rates. In May, mortgage rates were above 7%, but then ...
The data from the California Department of Finance show statewide housing production in 2022 increased 0.85%, the highest figure since 2008. That growth could eventually help combat the high cost ...
If the economy turns sour, mortgage rates could fall further, though even in that scenario Gumbinger doubted they'd reach the 3% and below range of the pandemic. Read more: Housing tracker: SoCal ...
California has long faced one of the largest housing deficits in the United States. In December 2022, CNN reported California had the largest deficit in the nation. A combination of inflation ...
A McKinsey Global Institute report estimates that the housing shortage is costing the California economy between 143 and 233 billion dollars per year, from lost construction activity (at least $85 billion annually), lower consumption of consumer goods because of high housing costs (at least $53 billion annually) and the costs of providing ...
The Sacramento housing market ranked as the No. 7 most-overpriced in the state, according to the figures collected by Zillow. Homes in Sacramento are priced roughly 17% above their expected value ...
The affordable housing gap is a socio-economic phenomenon characterized by the scarcity of affordable housing relative to the demand for it. [25] This disparity is linked to social , racial , and economic inequality, and disproportionately affects households with lower incomes.
According to the California Department of Food and Agriculture, "California agriculture is a $42.6 billion dollar industry that generates at least $100 billion in related economic activity." [ 37 ] The state's agricultural sales first exceeded $30 billion in 2004, [ 33 ] making it more than twice the size of any other state's agriculture industry.