By EDWARD PINTO On December 15, HUD released its annual Point-In-Time (PIT) homeless and housing inventory counts (HIC) conducted in January 2023. The key finding was that homelessness reached a record high as the 2023 annual count increased 12% and 18% respectively from 2022 and 2017. The average rate of homelessness per 1,000 population in…
By KIMBERLEY HAAS With a lack of housing plaguing the country, it may be easy to jump to the conclusion that vacant offices could be the perfect fit for new apartments and condominiums, but industry leaders say there are a number of considerations to take into account with these projects. Adam Ducker is the CEO…
By CHUCK GREEN Putting on the Ritz? Or at least booking a stay there? As the hotel industry continues to regain its traction this year in the aftermath of the Covid pandemic, according to at least one industry leader, it seems that, overall, luxury brands generally have been on a faster track toward recovery than others….
By CHUCK GREEN Next time you run into someone in the local Starbucks who happens to have their home on the market, be a sport and plop an extra scone into their bag, huh? A little butter and jam, too? After all, sellers probably aren’t riding the wave of a sugar high induced by whatever…
By KIMBERLEY HAAS Officials at the U.S. Department of Justice announced on Thursday that they have secured over $31 million from City National Bank to resolve allegations of redlining in Los Angeles County. City National is the largest bank headquartered in Los Angeles and among the 50 largest banks in the country. This is the…
By KIMBERLEY HAAS A Los Angeles broker convicted of defrauding lenders to obtain more than $8 million in mortgage loans has been sentenced to five years and four months in prison. Alex Ashod Dadourian, 61, was a licensed mortgage loan broker whose company, Success Funding, doing business as Pride Funding, was located in Northridge, California….
By CHUCK GREEN There are those who downright groove to the tune of a lifestyle embedded squarely in the middle of the action. You know, the big city, the vibe of being at the nexus of it all. Downright intoxicating. Conversely, others are swayed by the tranquility of a smaller city or town, finding it…
By CHUCK GREEN Now, how about a little, um, pop-up pop quiz? You. Put…the…iPhone….down. Okay, then. What did Marilyn Monroe. Elizabeth Taylor and, oh, say, Tennessee Williams, have in common? Whether compelled by business reasons — or simply because it was how they rolled – the trio lived in hotels. Probably beat the price of…
By CHUCK GREEN Office vacancy rates are being monitored closely as the commercial space industry continues to grapple with COVID’s effects on the workplace. In Los Angeles, office activity stagnated in the first quarter of 2022. One-fifth of total inventory remained vacant and rents remained unchanged, according to Greg Cornfield at Commercial Observer. Other major…
Condo prices hit a record high– $319,000, up 14.6% YOY and 22.7% from before the pandemic— as buyers priced out of the single-family market turn towards more affordable options, Redfin reported. This is a turn-around from the beginning of the pandemic when American buyers wanted to avoid crowded areas, causing condo sales to drop by…
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