In 1986 California voters overwhelmingly voted to pass Proposition 58. This amendment to the California constitution excluded from reassessment property transfers between parents and children. What that meant was that a parent could provide their home to pass to their children without taxing the children out of the home by continuing the Prop 13 tax […]
Gene Wunderlich, Sr. Staff Writer
Gene Wunderlich is the Government Affairs Director for Southwest Riverside County Association of Realtors. If you have questions on the market please contact me at GAD@srcar.org or to keep up with the latest legislative and real estate trends go to http://gadblog.srcar.org/.
- Posts: 101
- Website: http://gadblog.srcar.org/
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So last month we talked about the critical shortage of housing in California, particularly affordable/workforce housing, which is contributing to the significant ramp up in year-over-year prices for existing home. We also explored the escalating cost of new home construction predicated on lumber prices and shortage, at least partially a self-inflicted wound in California’s case. […]
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In case you’re not aware, our housing market is red hot right now with prices rising year-over-year by double digit increments as too many buyers chase too few homes. This is not a locally isolated occurrence as it also impacts most of the state and much of the rest of the country as well. There […]
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Comes a time when we all must exit stage right, one final bow to the audience, and ride off into the sunset. For me, that time is now. After nearly 3 decades monitoring our local real estate market and more than a decade sending out this compendium of all things housing, and burdening you with […]
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In this topsy-turvey world we’ve been living the past year, we’ve seen our economy and our lives tossed into turmoil. Record low unemployment rocketed to near-record peaks in a matter of weeks. Record GDP performance was followed by one of the steepest quarterly declines in history. A President who presided over both extremes was booted […]
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What a year that’s finally in our rear view mirror, eh? A year of ups and downs, possibly more of one than the other depending on your perspective. A year of political shenanigans and chicanery that’s just winding down for one administration and just winding up for another. New faces in DC and Sacramento, and […]
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Our housing market is booming, making it a rare oasis in the midst of this pandemic. As past newsletters have pointed out, record low interest rates, the desire for larger homes to provide office and classroom space, and the desire to escape crowded urban settings, have put our local housing market on track to exceed […]
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Let’s start with congratulations to all the recent election victors. Thanks as well to those who stepped up, gave it a run and came up short. Thanks for volunteering to be of service to our communities. A tip of the hat to all us survivors of another political season as well. There’s still a lot […]
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Our 2020 housing market continue to improve with September posting another increase not only a month-over-month increase of 9% (1,068 / 1,169) but a whopping 19% increase over last September (944). That brings us to within a rounding error of year-to-date sales volume just 21 units less than 2019 (8,357 / 8,337). Incredible given the […]
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While some (mainly progressive) economists were cautioning that the economy would fall off a cliff in August amidst a new CV-19 surge, the end of/or reduction in unemployment benefits, and continued stodgy recovery, recent jobs and stock market reports point to a somewhat more robust reality. Let’s start with a brief nod to the employment […]