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Karl Mondon/Bay Area News Group/TNS

Bay Area sees nation's largest monthly drop in home values

Consumer / Home and Consumer News /

As rising mortgage rates continue to cool the housing market across the U.S., the Bay Area in July saw the largest monthly drop in home values of anywhere in the country, according to a new report from home listing site Zillow.

The average value of a single-family home in the San Jose-Sunnyvale-Santa Clara metro area fell 4.5% from June to July...Read more

Samuel Corum/CNP/Zuma Press/TNS

ESG fund disclosures should be streamlined, investor and advocacy groups tell SEC

Consumer / Home and Consumer News /

The Securities and Exchange Commission needs to simplify proposed rules to require more disclosure from funds touting their environmental, social and governance factors, or else the agency will fail to eradicate so-called greenwashing, investment and advocacy groups are warning.

Investors of all sizes, including ESG-focused ones, as well as ...Read more

Span/TNS/TNS

Your house is due for an electrical upgrade

Consumer / Home and Consumer News /

When Lee-Sean Huang and his husband David Colby Reed decided to decarbonize their 120-year-old Providence, Rhode Island, home, they soon discovered it wasn’t even ready for a high-efficiency electric induction stove.

“We had to update the electrical, paying an electrician to run 240 volts for the induction range,” says Huang, who runs a ...Read more

Allen J. Schaben/Los Angeles Times/TNS

US existing-home sales fall a six-month to over two-year low

Consumer / Home and Consumer News /

Sales of previously owned U.S. homes fell for a sixth straight month in July in the latest indication of how high borrowing costs and waning demand are propelling the housing market’s rapid decline.

Contract closings fell 5.9% in July to an annualized 4.81 million, the weakest since May 2020, figures from the National Association of Realtors ...Read more

Real estate Q&A: Do I have to pay a deductible for repair landlord is responsible for?

Consumer / Home and Consumer News /

Q: My lease deals with repairs with the following clause: “Tenant is responsible for all repairs $50.00 or less. Any repairs over $50.00 are the total responsibility of the Owner unless due to tenant negligence.” With the consent of my landlord, I recently had a $180 repair done. When I sent the invoice, I was only reimbursed $130. When I ...Read more

ALEJANDRO A. ALVAREZ/The Philadelphia Inquirer/TNS

How thousands of affordable homes in Philly are threatened by expiring government subsidies

Consumer / Home and Consumer News /

Tenants in 69 units at the University City Townhomes in Philadelphia are being forced to relocate after the building owner ended its federal contract to provide affordable housing on site. The company, IBID Associates, plans to sell the land.

The two-year fight to save the Townhomes has now landed in federal court, after the owners sued the ...Read more

Gan Chaonan/Dreamstime/TNS

Crypto during a recession: Here's what to expect

Consumer / Home and Consumer News /

Bitcoin, the largest cryptocurrency in the world, was created in 2009 during the depths of the great financial crisis. It took a while to gain traction, but it, along with other cryptocurrencies, has since exploded into a major market worth around $1 trillion.

But with the broad crypto market falling sharply from all-time highs reached in ...Read more

TNS

Consumer prices are soaring. Here are the best ways to protect your savings

Consumer / Home and Consumer News /

While inflation is at the highest it’s been since the early 1980s, many people — especially those living paycheck to paycheck — may be struggling to save any money at all.

Inflation is likely to remain high, with most economists polled in Bankrate’s Second-Quarter Economic Indicator survey predicting inflation will remain as expected or...Read more

Dreamstime/Dreamstime/TNS

'Unmortgaged millennials': What a new study reveals about millennial homebuyers

Consumer / Home and Consumer News /

Millennials — those between ages 26 and 41, also sometimes called Generation Y — now represent the biggest population cohort in America. And while lots of them dream of homeownership, many find themselves priced out of the housing market. In fact, nearly half of millennials who do not yet own a home are pessimistic that they may ever be able...Read more

Konstantin Kolosov/Dreamstime/TNS

Credit card balances rise above pre-pandemic high, as inflation hits

Consumer / Home and Consumer News /

Consumers continue to take on more credit card debt as inflation hikes up their spending.

Consumer revolving debt — which is mostly based on credit card balances — gained $14.8 billion on a seasonally adjusted basis in June. It’s now up to $1.125 trillion, taking it past its pre-pandemic high, according to the Fed’s G. 19 consumer ...Read more

Mel Melcon/Los Angeles Times/TNS

'I was in shock': California rents are spiking -- and not only where you'd expect

Consumer / Home and Consumer News /

When Santa Monica resident Rob Leonard got a notice telling him that rent for his one-bedroom apartment would go up $100 a month starting in September, he had to read the letter several times because he thought there was a mistake.

"I was in shock," he said. "Twelve hundred dollars a year — that's people's grocery money. That's gas. I have a ...Read more

Dreamstime/Dreamstime/TNS

Fewer people are moving as interest rates, rents rise

Consumer / Home and Consumer News /

Most people move during the spring and summer months, but many would-be movers stayed put this May and June amid higher interest rates and rising rents, according to change-of-address data from the U.S. Postal Service.

Every state saw fewer people moving in compared with the same time last year, but the declines were most pronounced in New York...Read more

Mariah Tauger/Los Angeles Times/TNS

They worried about long-term housing for their disabled son -- until they built an ADU

Consumer / Home and Consumer News /

LOS ANGELES -- Walking into the sunlit accessory dwelling unit just steps from his family's home in Culver City, Adrian Perez places his hands on the wall of his bedroom and smiles broadly.

"Adrian likes to touch everything," explains his mother, Andrea Villicana. "When the ADU was completed, he knocked on all the walls and tested the acoustics...Read more

The short-term rental market took off during the pandemic's real estate boom, but at what cost?

Consumer / Home and Consumer News /

Needing places to either work from temporarily or vacation as they escaped pandemic restrictions, COVID fleers made South Florida one of their top destinations.

And with them came an increased need for short-term housing, or vacation rentals.

“It appears mostly in the Sunbelt states, particularly in Florida, in South Carolina, where we have ...Read more

Real estate Q&A: How can I stop neighbor from pointing flood light at my house?

Consumer / Home and Consumer News /

Q: My neighbor and I had a falling out, after which he set up a bright flood light that points directly into my home. I cannot keep the blinds open on an entire side of my house. He also harassed me in other ways, such as throwing junk over the fences and making loud noises at inappropriate times. What can I do? — Anonymous

A: I usually ...Read more

Brian van der Brug/Los Angeles Times/TNS

Housing slowdown? Looming recession? Not for the ultra-rich buyers of LA's 8-figure condos

Consumer / Home and Consumer News /

To unveil one of the grandest penthouses ever to be built in Los Angeles, its developers threw a little dinner party.

Two dozen of L.A.’s top real estate agents — the sunglasses-indoors kind who regularly appear on reality television — were tended to by a cadre of young women in identical cream outfits, hired for the evening to serve as �...Read more

Nhat V. Meyer/Bay Area News Group/TNS

California's Deaf community is leading push for affordable teacher housing

Consumer / Home and Consumer News /

During the day, Mel Vezina supervises and mentors high school boys who live on campus at the California School for the Deaf in Fremont.

At night, he sleeps in his van.

One year ago, after working for more than a decade at the school, and living out of his van, Vezina saved enough money to buy a house in Sacramento with the help of a roommate. ...Read more

Here's how much you need to earn to buy a home in the Bay Area

Consumer / Home and Consumer News /

Thinking of buying a home in the Bay Area? You’ll need to make at least $250,000 a year to comfortably afford it.

That’s by far the highest homebuyer salary necessary anywhere in the country, and more than triple the average required nationwide income of $75,000 a year, according to a recent report by mortgage data website HSH.com.

The Bay...Read more

RJ Sangosti/The Denver Post/TNS

In Colorado mountain towns, where affordable housing is scarce, 'even living out of your car is gentrified'

Consumer / Home and Consumer News /

SALIDA, Colorado — Blocked from sleeping in vehicles parked within municipal boundaries, workers in profit-minded Colorado mountain towns now must seek “safe outdoor space” — in Walmart lots, forests or newly designated areas with Wi-Fi and access to bathrooms.

But homeowners oppose these SOS zones in Salida and Breckenridge as “band-...Read more

Searches for 'sell my house' soar as housing market changes

Consumer / Home and Consumer News /

More people are looking to put their homes on the market as internet searches for selling a house have shot up.

Searches online for “sell my house” have soared in the United States, rising 147% as of July, according to an analysis of Google Trends by luxury home brands Ruby Homes.

“The analysis reveals that searches for ‘sell my house�...Read more