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U.S. existing-home sales increase to fastest pace since 2006

By Olivia Rockeman | Bloomberg Sales of previously owned U.S. homes remained brisk in August as low mortgage rates and demand for space in the suburbs sustained strength in a housing market that’s a bright spot for the economy. Closing transactions increased 2.4% from the prior month to a 6 million annualized rate, the strongest pace since the end of 2006, according to National Association of Realtors data issued Tuesday. The figure matched the median estimate in a Bloomberg survey of economists...
Tags: Business, Real Estate, Congress, Housing, La, Bloomberg, Sport, Soccer, South, Midwest, NAR, Commerce Department, National Association of Realtors, Oxford Economics, Yun, Sixty


Bicycle sales and repairs are skyrocketing, creating shortages and waiting lists

On a recent July day, Andrew Yip dragged nine old bicycles from his garage and listed them for sale on a mobile platform called OfferUp. What was intended as a summer quarantine project lasted just six hours — the time it took to sell all nine to separate buyers. From college students to transplanted Europeans to a man who drove from Santa Clarita, the buyers came to his Hacienda Heights home almost immediately. All nine bicycles were gone before sundown. “It was amazing,” said Yip, a cycling en...
Tags: Outdoors, Business, News, China, Walmart, Sport, Taiwan, Soccer, United States, Cycling, Wisconsin, Roy, Associated Press, San Marino, Southern California, Great Britain


Hearing set for landlords’ fight against LA ban on evictions, rent increases

LOS ANGELES >> An October hearing is set in which Southern California’s largest landlord organization will urge a federal judge to put an immediate halt to the city’s eviction ban and rent freeze enacted during the COVID-19 pandemic. The Apartment Association of Greater Los Angeles filed a lawsuit against the city of Los Angeles in June challenging the eviction ban, prohibitions on late fees or interest, and moratorium on annual rent increases. In a motion filed Monday, AAGLA is seeking an emerg...
Tags: Health, Business, News, La, Government, Los Angeles, Sport, Soccer, Community, Ucla, Southern California, Los Angeles County Board of Supervisors, Top Stories LADN, Top Stories IVDB, Top Stories Breeze, Top Stories LBPT


Pandemic means seniors have second thoughts about housing

Where do we want to live in the years ahead? Older adults are asking this question anew in light of the ongoing toll of the coronavirus pandemic — disrupted lives, social isolation, mounting deaths. Many are changing their minds. Some people who planned to move to senior housing are now choosing to live independently rather than communally. Others wonder whether transferring to a setting where they can get more assistance might be the right call. These decisions, hard enough during ordinary time...
Tags: Business, Texas, News, Housing, NIC, Sport, Indianapolis, Chicago, Soccer, Mace, Bronx, Facetime, Mike, Upper West Side of Manhattan, Jaime, Heron


Leaks show Chelsea owner Abramovich funded Israeli settler group

Russian oligarch’s firms donated £74m to Elad, who are accused of trying to seize Palestinian neighbourhoodsCompanies controlled by Chelsea owner Roman Abramovich donated tens of millions of pounds to a highly controversial Israeli settler group accused of displacing Palestinian families from Jerusalem, according to leaked documents seen by BBC News Arabic.The billionaire Russian oligarch, who was granted Israeli citizenship in 2018, has been an avid philanthropist in Israel, donating huge sums ...
Tags: Business, Israel, Jerusalem, World news, Banking, BBC News, Middle East and North Africa, Chelsea, Roman Abramovich, Abramovich, Elad


Soaring wealth during pandemic highlights rising inequality

By CHRISTOPHER RUGABER | AP Economics Writer WASHINGTON — Americans’ household wealth rebounded last quarter to a record high as the stock market quickly recovered from a pandemic-induced plunge in March. Yet the gains flowed mainly to the most affluent households even as tens of millions of people endured job losses and shrunken incomes. The Federal Reserve said Monday that American households’ net worth jumped nearly 7% in the April-June quarter to $119 trillion. That figure had sunk to $111.3...
Tags: Business, News, Congress, California, Washington, La, Brown University, America, ExxonMobil, Sport, Economy, Soccer, University Of Chicago, Hispanics, Federal Reserve, Jones


US household wealth hits record even as economy struggles

By CHRISTOPHER RUGABER | AP Economics Writer WASHINGTON — Americans’ household wealth rebounded last quarter to a record high as the stock market quickly recovered from a pandemic-induced plunge in March. Yet the gains flowed mainly to the most affluent households even as tens of millions of people endured job losses and shrunken incomes. The Federal Reserve said Monday that American households’ net worth jumped nearly 7% in the April-June quarter to $119 trillion. That figure had sunk to $111.3...
Tags: Business, News, California, Washington, La, Brown University, US, America, Sport, Economy, Soccer, Federal Reserve, Southern California, Fed, Los Angeles Orange County, National News


Inland Empire has 47% fewer homes for sale, largest drop in U.S.

Inland Empire house hunters are searching for properties in the nation’s tightest market, according to one survey. The number of existing homes listed for sale in Riverside and San Bernardino counties fell by 47% in the year ended in August, Zillow reports. That’s the deepest decline among 50 large metropolitan areas tracked by the real estate firm. Pandemic fears, financial challenges and quick-selling homes have kept many owners from selling locally and across the nation. It’s made buying tric...
Tags: Business, Real Estate, News, Housing, Sacramento, Los Angeles, Sport, Chicago, Soccer, San Diego, San Jose, Kansas City, Orange, Zillow, Baltimore, San Bernardino


Inland Empire home listings fall 47%, largest drop in U.S.

Inland Empire house hunters are searching for properties in the nation’s tightest market, according to one survey. The number of existing homes listed for sale in Riverside and San Bernardino counties fell by 47% in the year ended in August, Zillow reports. That’s the deepest decline among 50 large metropolitan areas tracked by the real estate firm. Pandemic fears, financial challenges and quick-selling homes have kept many owners from selling locally and across the nation. It’s made buying tric...
Tags: Business, Real Estate, News, Housing, Sacramento, Los Angeles, Sport, Chicago, Soccer, San Diego, San Jose, Kansas City, Orange, Zillow, Baltimore, San Bernardino


23 more deaths reported in LA County; coronavirus hospitalizations tick upward

Los Angeles County reported 991 new cases of COVID-19 and 23 more deaths on Sunday, Sept. 20, bringing the county’s totals to 260,797 cases and 6,353 fatalities. The number of people hospitalized, however, increased from 732 Saturday to 765, with 30% of those people in intensive care units. The relatively low number of new cases likely reflects a weekend lag in reporting, according to the Los Angeles County Department of Public Health. The update did not include Sunday totals from Pasadena and L...
Tags: Health, Business, News, California, Cdc, Government, Sport, Public Health, Soccer, Long Beach, Community, Pasadena, Los Angeles County, Ferrer, LA County, Barbara Ferrer


Will commercial real estate pause for presidential election?

My inbox is full! Today, I will parse through the noise and attempt to make some sense of the questions I receive on a daily basis. Plus purging is good. From cleared clutter to sanitized sanity — here it goes. Does the presidential election slow commercial real estate activity? Certainly, some small business owners take the political landscape into consideration before making a commitment to lease or purchase buildings. Specifically, how does the current administration deal with ownership? Are ...
Tags: Business, Real Estate, Sport, Soccer, Allen, Lee Associates Commercial Real Estate Services, COVID, Leslie Eskildsen, Small Business Administration Frankly


Trump backs proposed deal to keep TikTok operating in US

By STAN CHOE | AP Business Writer NEW YORK — President Donald Trump said Saturday he’s given his “blessing” to a proposed deal that would see the popular video-sharing app TikTok partner with Oracle and Walmart to become a US company. Trump has targeted Chinese-owned TikTok for national security and data privacy concerns. The announcement comes just a day after the Commerce Department announced restrictions that if put in place could eventually make it nearly impossible for TikTok fans to use th...
Tags: Facebook, Business, Politics, New York, Texas, Technology, News, Instagram, China, US, Walmart, Sport, Social-media, Soccer, United States, Commerce


Pandemic glossary: Terms that became part of our daily dialogue in the past 6 months

The COVID-19 pandemic has disrupted the lives of millions of Americans, and reshaped our vocabulary along the way. Here are a few words and phrases you may not have known before the outbreak arrived in Southern California in March, but have become part of daily conversation since: This illustration provided by the Centers for Disease Control and Prevention in January 2020 shows the 2019 novel coronavirus. (CDC via AP) Coronavirus: It’s not just the disease that we first caught wind of in new...
Tags: Health, Business, News, Education, Cdc, China, NFL, Sport, Public Health, Soccer, United Nations, Long Beach, Community, Donald Trump, Centers For Disease Control And Prevention, Southern California


Coronavirus hospitalizations continue to drop in LA County

Twenty-two more coronavirus-related deaths were confirmed on Friday, Sept. 18, by the Los Angeles County Department of Public Health, while hospitalizations due to the virus continued to drop. “I appreciate the diligent efforts everyone is making to slow the spread of COVID-19 and am grateful that daily hospitalizations and deaths have continued to decline,” county public health director Barbara Ferrer said in a statement. “This decline didn’t happen by chance — this happened because individuals...
Tags: Health, Business, News, Education, California, Cdc, Government, Sport, Soccer, Long Beach, Community, Pasadena, CSU, Ferrer, LA County, Barbara Ferrer


Southern California replaces just 27% of jobs lost amid pandemic lockdown

Southern California’s economy struggles to rebound, recovering just 27% of the jobs lost in the pandemic lockdown despite adding 30,600 workers in August. My trusty spreadsheet, filled with new data from the state Employment Development Department, found bosses had 7 million employees in early August in the four counties covered by the Southern California News Group. This staffing level, derived from a survey of employers in the first two weeks of the month, was up 0.4% from July. The region’s e...
Tags: Business, Jobs, California, Walmart, Sport, Economy, Soccer, Southern California, San Bernardino, Los Angeles County, Employment Development Department, Southern California News Group, Top Stories LADN, Top Stories OCR, Top Stories PE, Top Stories IVDB


What pandemic rebound? Only 27% of Southern California’s lost jobs replaced

Despite adding 30,600 workers in August, Southern California’s economy struggles to rebound, recovering just 27% of the jobs lost in the pandemic lockdown. My trusty spreadsheet, filled with new data from the state Employment Development Department, found bosses had 7 million employees in early August in the four counties covered by the Southern California News Group. This staffing level, derived from a survey of employers in the first two weeks of the month, was up 0.4% from July. The region’s ...
Tags: Business, Jobs, California, Walmart, Sport, Economy, Soccer, Southern California, San Bernardino, Los Angeles County, Employment Development Department, Southern California News Group, Top Stories LADN, Top Stories OCR, Top Stories PE, Top Stories IVDB


Facebook accused of watching Instagram users through phone cameras

By Robert Burnson | Bloomberg Facebook is again being sued for allegedly spying on Instagram users, this time through the unauthorized use of their mobile phone cameras. The lawsuit springs from media reports in July that the photo-sharing app appeared to be accessing iPhone cameras even when they weren’t actively being used. Facebook denied the reports and blamed a bug, which it said it was correcting, for triggering what it described as false notifications that Instagram was accessing iPhone c...
Tags: Facebook, Business, Instagram, Sport, Social-media, Soccer, Bloomberg Facebook, Robert Burnson, Instagram LLC, Brittany Conditi, Conditi, San Francisco New Jersey Instagram, U S District Court Northern District


Eviction bans taking a bite out of landlords’ bottom line

Real estate agent Adam Bray-Ali hopes to retire someday off the income from his small portfolio of triplexes and four-plexes. But lately, his side job as a landlord isn’t going so well. Tenants in three of his 20 units stopped paying rent after the coronavirus pandemic hit in March. One tenant moved out owing $6,000. Now Bray-Ali is losing money on two of his five buildings, and he’s thinking about selling one of them. Thanks to forbearance, he’s been able to skip some mortgage payments and abou...
Tags: Business, Real Estate, Hollywood, News, Congress, California, Housing, Wall Street, Los Angeles, Sport, Soccer, Long Beach, Manhattan, Rent, UC Berkeley, Gavin Newsom


SpaceX rocket launch postponed again, this time due to weather

Hawthorne-based SpaceX was thwarted for a second day in a row On Friday, Sept. 18, in its effort to launch a rocket carrying 60 internet satellites into orbit. The company’s planned Cape Canaveral launch of the rocket with the Starlink satellites was scrubbed “due to severe weather in the recovery area, which is likely to persist for a couple days,” according to SpaceX. As such, a new launch date was not immediately set. An effort to launch the rocket on Thursday was scrubbed just 30 minutes bef...
Tags: Business, Spacex, News, Sport, Soccer, Falcon, Atlantic Ocean, Hawthorne, StarLink


HOA Homefront: It’s time to discontinue the troubling, unnecessary proxy

Proxies are still used in most HOAs and continue to contribute to confusion and controversy during association elections. A proxy is a document by which one association member authorizes another member to vote for them. Unless banned by governing documents, proxies are allowed in HOAs under Corporations Code 7613 and Civil Code 5130. However, there is no such thing as a “board proxy.” If a director is not participating in the meeting, they cannot have another director vote for them. There are th...
Tags: Business, News, California, Housing, Sport, Soccer, Richardson, HOAs, College of Community Association Lawyers, Kelly G Richardson Esq CCAL, DeNichilo LLP


Reopening California theme parks: What’s the rush?

A Disney employee runs a line to get in to the virtual queue for World of Disney on the reopening day of the Downtown Disney District in Anaheim, CA, on Thursday, July 9, 2020. (Photo by Jeff Gritchen, Orange County Register/SCNG) Shirley Wong, left, and her husband, Gary Lam, head toward the exit after a morning of shopping on the reopening day of the Downtown Disney District in Anaheim, CA, on Thursday, July 9, 2020. (Photo by Jeff Gritchen, Orange County Register/SCNG) Sound The...
Tags: Business, Florida, Jobs, News, California, Disney, California News, Sport, Things To Do, Soccer, Tourism, Amusement Parks, Disneyland, North Carolina, Parks, Orlando


Flu shot is vital, LA County officials urge, especially during coronavirus outbreak

Another three dozen coronavirus-related deaths were reported today by Los Angeles County health officials, who again issued a call for people get a flu shot and continue taking precautions against the spread of infection. The county Department of Public Health reported 38 new virus deaths. The new deaths lifted the countywide total since the start of the pandemic to 6,324. Another 1,160 cases were also announced by the county, for a total of 257,271 since the pandemic began. The mid-day report d...
Tags: Health, Business, News, Education, Government, Sport, Soccer, Long Beach, Community, Pasadena, Los Angeles County, South Bay, Department of Public Health, Ferrer, Rosh Hashanah, LA County


Judge blocks changes that slowed US mail delivery

SEATTLE — A U.S. judge on Thursday blocked controversial Postal Service changes that have slowed mail nationwide, calling them “a politically motivated attack on the efficiency of the Postal Service” before the November election. Judge Stanley Bastian in Yakima, Washington, said he was issuing a nationwide preliminary injunction sought by 14 states that sued the Trump administration and the U.S. Postal Service. The states challenged the Postal Service’s so-called “leave behind” policy, where tru...
Tags: Business, Politics, New York, News, Washington, Virginia, US, Sport, Soccer, Gop, Nevada, Postal Service, Seattle, Donald Trump, Justice Department, Trump


Judge blocks US Postal Service changes that slowed mail

SEATTLE — A U.S. judge on Thursday blocked controversial Postal Service changes that have slowed mail nationwide, calling them “a politically motivated attack on the efficiency of the Postal Service” before the November election. Judge Stanley Bastian in Yakima, Washington, said he was issuing a nationwide preliminary injunction sought by 14 states that sued the Trump administration and the U.S. Postal Service. The states challenged the Postal Service’s so-called “leave behind” policy, where tru...
Tags: Business, Politics, New York, News, Washington, Virginia, Sport, Soccer, Gop, US Postal Service, Nevada, Postal Service, Seattle, Donald Trump, Justice Department, Trump


165,000 Walmart workers will get raises

By Matthew Boyle | Bloomberg Walmart is rolling out sweeping changes to staffing in its U.S. stores just as the holiday crunch begins, bringing pay raises for some — but not all — members of a massive workforce that have already been upended by the coronavirus pandemic. In October, all of Walmart’s U.S. supercenter locations will switch to a new team-based model that the retailer has been testing over the past year and a half in many of its smaller stores. About 165,000 hourly staffers will see ...
Tags: Business, Jobs, Holidays, Walmart, Sport, Soccer, Smith, Target Corp, Matthew Boyle, Bloomberg Walmart, Dacona Smith


Walmart’s new store-staff structure means raises — but not for all

By Matthew Boyle | Bloomberg Walmart is rolling out sweeping changes to staffing in its U.S. stores just as the holiday crunch begins, bringing pay raises for some — but not all — members of a massive workforce that have already been upended by the coronavirus pandemic. In October, all of Walmart’s U.S. supercenter locations will switch to a new team-based model that the retailer has been testing over the past year and a half in many of its smaller stores. About 165,000 hourly staffers will see ...
Tags: Business, Jobs, Holidays, Walmart, Sport, Soccer, Smith, Target Corp, Matthew Boyle, Bloomberg Walmart, Dacona Smith


Why are the lowest mortgage rates so hard to capture? 

Real deal or just a mirage? So simple it would seem. Every online mortgage ad you read, listen to on the radio or see on television makes your heart go pitter-patter just a bit more than the last super-low-rate stored into your memory bank. But why are things so wildly different from lender to lender when it comes to something so simple as loan program availability? And, what about those mandates and restrictions when your lender says it has what you want? Are your credit scores high enough? Did...
Tags: Business, Real Estate, News, Housing, Sport, Soccer, Mortgage, Cpa, Freddie Mac, FHA, Fannie, Mortgage Bankers Association, Top Stories LADN, Top Stories OCR, Top Stories PE, Top Stories IVDB


39% of California workforce has filed for jobless claims since March

Unemployment claims in California fell last week compared with the previous week, a welcome respite for the state, which has seen 8.6 million workers file jobless claims since coronavirus-linked business shutdowns began six months ago. An estimated 230,200 California workers filed first-time claims for jobless benefits during the week ending Sept. 12, down 13,200 from the 243,400 who filed claims in the week ending Sept. 5, the U.S. Labor Department reported Thursday. The decline snapped a three...
Tags: Business, Technology, Jobs, News, California, California News, Sport, Economy, Soccer, United States, Employment Development Department, U S Labor Department, Top Stories LADN, Top Stories OCR, Top Stories PE, Top Stories IVDB


Census: 30% of Inland Empire late on rent, 17% in Los Angeles-Orange County

The pandemic’s economic pain has battered renters far more than it has homeowners as some fresh data from the U.S. Census Bureau reminds us. In Riverside and San Bernardino counties, 336,000 adults live in households that are behind on rent due in the week ended Aug. 31, according to the bureau. That’s 30% of all Inland Empire tenants and almost twice the rate in Los Angeles and Orange counties where 537,000 who live in rentals were late payers — 17% of all tenants. The Inland Empire payment cha...
Tags: Business, Real Estate, News, California, Housing, Los Angeles, Sport, Soccer, Rent, Orange, Southern California, Trump, San Bernardino, Riverside, U S Census Bureau, New California


Thorough preparation now a must for home buyers and sellers

Current market and world health conditions in mind, there’s a new normal for the sequence in home buying and selling today. As a seller today, you need to stage your house to the nines, and then welcome in the crew of photographers and drone operators to capture every aspect of your house, including all of the images necessary to create a three-dimensional self-guided online tour. Your savvy, COVID-19 conversant agent will know how to make all of this come together, so that potential buyers will...
Tags: Business, Real Estate, News, California, Housing, Sport, Soccer, Manhattan, LA County, Leslie Sargent Eskildsen, LA s U S Bank Tower



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