December 22, 2016
- The Federal Reserve Board recently increased the interests rates for short term mortgage loans. Many are now worry about how the increase will affect home renovation loans. A study by Hermit Baker hypothesizes that the number of home renovation loans will likely increase.
- The economy has a made a shift towards the better. Unemployment rates are the lowest in decades and home prices have increased significantly. However, single family home construction is continuing to decline which is impeding total economic recovery.
- Los Angeles is experiencing higher rents and higher homeless rates. More than half of Los Angeles’ renters are “cost burdened.” In 2014, UCLA reported that Los Angeles had the least affordable rent in the nation. Meanwhile politicians have stood by with uttering much on the subject.