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It’s a big deal in a state where homeowners have fiercely fought any changes to single-family neighborhoods. California Governor Gavin Newsom is catching up on his “to do” list after the recall election, and just signed two important pieces of housing legislation. One is SB 9 which eliminates single-family zoning in most neighborhoods across the state. The other is SB 10 which makes it easier for cities to build multi-family apartment buildings in some areas. (1) Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review. Senate Bill 9 is especially significant after years of homeowner opposition to previous efforts to increase housing density in single-family neighborhoods. This bill allows for single-family parcels to be split in two, and duplexes to be built on each half, which allows for a total of four units on one lot. The other bill will streamline the approval process for the development of multi-family housing near transit and urba

In this Real Estate News Brief for the week ending September 18th, 2021… inflation eases up overall, but rents and building materials soar, while mortgage rates hold steady. Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review. Economic News We begin with economic news from the past week. Concerns about inflation have eased up a bit. Prices rose at their slowest pace in August since about seven months ago. The consumer price index was up .3% which brought the annual rate down a tenth of a percent to 5.3%. The core rate, which strips out prices for food and gas, was only up .1% to an annual rate of 4%. That’s down from 4.3% in June. MarketWatch economists say that could be a sign that the recent price surge is peaking. (1) There’s been a lot of debate about the risk of higher inflation and whether it will remain above the 2% mark. The Federal Reserve isn’t worried. It expects prices to come back down toward that 2% level sometime next

It wasn’t too long ago that housing experts were predicting the demise of the garage, because of ride-sharing services like Uber and Lyft, and a desire to live “car free.” Many people have also turned their garages into additional living space. But now, with electric vehicles becoming more popular, EV owners want a place to safely charge their cars overnight and that’s making the garage, once again, a more indispensable part of our homes. Hi I’m Kathy Fettke and this is Real Estate News for Investors. Having an electric car is still an expensive purchase for many people, but for those who can afford one right now, it’s important to have a convenient and secure way to charge it up. That’s not going to be a charging station blocks or miles away. Most people will want a charging station at home, so the car can power-up while they are sleeping. The Wall Street Journal acknowledged this new trend in an article called “Electric-Car Charging Stations Give the Home Garage a Powerful Upgrade.” (1) Powerful At-Home Cha

Contractors have been struggling with a worker shortage that began with the Great Recession, and then was made worse by the pandemic. If one worker on the job site gets sick with the virus, the entire project can be stalled for at least 2 weeks. And now, things are becoming even more complicated as more clients are wanting all workers on their property to be vaccinated. But many available workers are pushing back. Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review. Getting the job done has been tough for contractors dealing with supply chain shortages, rising prices for the materials, and permitting issues. Add to it that the number of new coronavirus cases hit a 7-day daily average of 166,000 on September 1st. According to data in the New York Times, the case count has come down a bit since then but is still above 152,000. Some healthcare professionals are predicting another surge this month because of the Labor Day holiday and soc

In this Real Estate News Brief for the week ending September 11th, 2021... a record high for home equity, a drop in Zombie foreclosures, and the house flippers’ hunt for homes. Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review. Economic News We begin with economic news from this past week. It was a short week because of Labor Day, with not much economic news after that. The weekly unemployment report shows that initial state claims fell to a new pandemic low of 310,000. The average number of claims before the pandemic was just 90,000 less, at 220,000 per week. (1) Continuing claims were also down to almost 12 million for state benefits and 7 other state and federal programs. That number had risen above 30 million during the pandemic. Last week was also the last full week for many of those benefits. Bank of the West chief economist estimates that 7.5 million people will drop off the unemployment list, and another 3 million will see

Los Angeles is fast-tracking its green energy plan. The City Council approved a plan for 100% renewable energy by 2035. That’s inline with President Biden’s goal, and a decade sooner than LA’s previous plan. The City Council decision comes after a comprehensive study that looked at everything from greenhouse gas emissions, public health, and cost versus benefit analysis to electricity demand, rooftop solar, and other renewable energy options. Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review. LA hopes to “set the stage for the country” and the rest of the world with LA100. (1) The transition would create about 9,500 clean energy jobs and cost between 57 and $87 billion, but according to LADWP General Manager Martin Adams, much of the investment would also coincide with infrastructure replacement that is already on the city’s “to do” list. He says: “When this study started three-and-a-half years ago… the idea was to be where we want

In this Real Estate News Brief for the week ending September 4th, 2021... new FHFA rules on the foreclosure bidding process, the for-sale homes needed for a “normal” market, and the renters who don’t think they will ever be homeowners. Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review. Economic News We begin with economic news from this past week. The number of people applying for unemployment has dropped again. The Department of Labor reported that 340,000 people filed for state claims last week. That’s a decline of 14,000 from the week before and the lowest it’s been since the start of the pandemic. Continuing claims are also down, to a total of 2.75 million, and the total for all 8 state and federal programs is 12.2 million. That’s down from 30 million at the peak of the pandemic. (1) More disappointing is the August report on hiring. The Wall Street Journal had estimated an additional 720,000 jobs, but the Bureau of Labor Stati

Airbnb is stepping in to help Afghan refugees now pouring into the U.S. It’s offering free housing to 20,000 of them with the help of Airbnb hosts. The temporary lodging will be paid for by Airbnb’s non-profit arm, Airbnb.org, along with contributions from Airbnb co-founder Brian Chesky and donations made to Airbnb.org’s Refugee Fund. (1) Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review. Airbnb has been helping disaster victims since Hurricane Sandy hit New York City in 2012. Sandy was one of the worst hurricanes in history and displaced thousands of people. At the time, an Airbnb host asked the company if she could offer her place for free to a few of the victims. The idea was well received, and Airbnb quickly coordinated an effort to get other hosts to do the same. More than 1,000 hosts helped out. Housing Help for Disaster Victims Since then, Airbnb says that hosts have provided temporary accommodations to more than 75,000 peop

The eviction moratorium roller coaster continues. The U.S. Supreme Court ruled against the moratorium, saying: “it is up to Congress, not the CDC, to decide whether the public interest merits further action here.” And now, three federal agencies are asking state and local governments to implement eviction moratoriums or extend the ones they currently have. Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review. The Supreme Court issued an eight-page ruling on August 26th. (1) Realtor associations and landlords in Alabama and Georgia had sued, saying the CDC had gone beyond the reach of its authority. Scotus Rules Against Moratorium In the ruling, the justices said: “The moratorium has put the applicants, along with millions of landlords across the country, at risk of irreparable harm by depriving them of rent payments with no guarantee of eventual recovery. Despite the CDC’s determination that landlords should bear a significant financi

In this Real Estate News Brief for the week ending August 28th, 2021... which lender will let you pay in Bitcoin, why a Covid-19 vaccine will get you a discount on closing costs, and the rising popularity of patios, for outdoor living. Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review. Economic News We have economic news from this past week, but first, big news on the latest federal eviction moratorium. If you haven’t heard, the U.S. Supreme Court blocked that mandate after a new legal challenge by the Alabama Association of Realtors and a group of landlords. The plaintiffs argued that the CDC doesn’t have the authority to issue this kind of mandate. The justices agreed, saying the policy should’ve come from lawmakers, and not the CDC. (1) As Newsweek reports, progressive members of Congress are now considering legislation that would reinstate the moratorium, as the nation continues to deal with the pandemic. (2) So the battle cont

Tiny homes can be a great option for the minimalist lifestyle and affordability, but don’t let the cost of insurance take you by surprise. A new study shows a huge difference in the cost of tiny home insurance depending on where you live and the risks associated with that location. It’s still cheaper overall to insure a tiny home than it is a larger home, but insurance will take a bigger bite out of your housing budget if you live in a high-risk area. Hi I’m Kathy Fettke and this is Real Estate News for Investors. Tiny Home Insurance Cost Analysis ValuePenguin did a cost analysis that compared insurance for tiny homes and larger homes across the nation. (1) Tiny homes are generally around 400 square feet in size. ValuePenguin compared those to homes with 2,100 square feet. It found that on a national level, the average cost of insurance for a standard-sized home is 106% more expensive than it is for a tiny home. So tiny home owners are saving money on insurance, but will also be paying more than other tiny ho

Real estate guru Robert Kiyosaki isn’t placing ALL his eggs in the real estate basket. He’s recommending Bitcoin as a way to protect yourself against the death of the dollar. The Rich Dad, Poor Dad author believes that the dollar is going to fail, and when it does, it will “crash the whole economic system.” (1) Hi I’m Kathy Fettke and this is the Real Estate News for Investors. Thanks for joining me and don’t forget to hit the subscribe button for our podcast. Kiyosaki has been tweeting a lot lately about Bitcoin. He just tweeted: “BITCOIN to $50,000. Great news for Bitcoin holders. Bad news for mom and pop. The primary reason I invest in Bitcoin, gold, & silver is because I do not trust our leaders, the Fed, Treasury, nor the stock market. Unfortunately mom and pop who save money do. Take care.” According to Benzinga, he pointed out in an email that “Bitcoin is up over 200% from last year” and that other cryptocurrencies are also up significantly. He asks his readers if that sounds like crypto is dead an

In this Real Estate News Brief for the week ending August 21st, 2021... we’ll look at second quarter home prices, a big surge in rents for single-family homes, and a softening demand for vacation homes. Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review. Economic News We begin with economic news from this past week. The Fed released the minutes of its last big meeting in July and acknowledged what many economists have been saying, that the current surge in U.S. inflation could continue into next year. That’s mostly due to a shortage of labor and materials as the nation deals with the latest wave of the pandemic. MarketWatch reports that the Fed’s July summary mentioned the delta variant six times after not one mention of the virus in June. The Fed previously said that high prices might last a little longer, but in this summary, Fed officials also acknowledged that the “spread of the delta variant may temporarily delay the full reope

Transcript 00:00:00 Intro Music [Speaker] Kathy Fettke The housing market appears to be settling down a bit as we head into the Fall. Home price growth is stabilizing and buyers are facing a bit less competition. According to Redfin, the percentage of deals tangled up in bidding wars last month dropped to the lowest level since January. (1) Hi I’m Kathy Fettke and this is the Real Estate News for Investors. Redfin is reporting a steady decrease in buyers submitting competitive bids. Competition peaked in April when 74.1% of the offers written by Redfin agents faced competition. In June, competition dropped to about 66.5%. And last month, in July, only 60.1% of the offers went head-to-head with other buyers. Redfin calls it a bidding war when a buyer faces at least one competing offer. Homebuying Conditions Have Improved Redfin says that homebuying conditions have improved over the summer. It says that prices are stabilizing due to an increase in supply. That’s giving buyers more options to choose from, and le

In this Real Estate News Brief for the week ending August 14th, 2021… where lot values are surging, how rent payments can help new home buyers, and a contest for tiny home designs. Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review. Economic News We begin today’s episode with economic news from this past week. Two inflation reports show that prices are still heading higher. The consumer price index was up .5% in July. That’s down from .9% in June which prompted some economists to say that inflation is moderating. But the yearly rate is 5.4% which is the same as June, and well above the Federal Reserve’s 2% target. The core rate is a bit lower. That omits prices for energy and food. It was up .4% to a yearly rate of 4.3% which is slightly lower than the June rate. (1) Although the numbers show that inflation is backing off a little, it’s still a whole lot higher than it was last year. The consumer price index was running at 1% annual

Transcript 00:00:00 Intro Music [Speaker] Kathy Fettke: The second-richest man in the world has traveled to space and returned home to a 375-foot tiny home. Tesla founder Elon Musk followed through with a promise to downsize his life. He sold off almost all his mansions and physical possessions and recently moved into a tiny pop-up home in Boca Chica, Texas, where his company SpaceX is located. Hi I’m Kathy Fettke and this is Real Estate News for Investors. Thanks for joining me and don’t forget to hit the subscribe button for our podcast. Musk’s new home is made by Las Vegas start-up Boxabl, which calls the tiny home a “casita.” (1) The 375-square foot space is divided pretty equally into a kitchen, living room, bedroom, and bathroom with spacious nine-and-a-half foot ceilings. Boxable delivers the casita in a large box that can be towed behind a big rig or even a pick-up truck. To be more precise, it folds down to just eight-and-a-half feet wide making it possible to transport within normal shipping paramet

Transcript 00:00:00 Intro [Speaker] Kathy Fettke In this Real Estate News Brief for the week ending August 7th, 2021... another single-family eviction moratorium, legislation to extend Opportunity Zones, and sellers who use spy cams at showings. Hi, I'm Kathy Fettke and this is the Real Estate News for Investors. Economic News We begin with economic news from this past week. The job market picked up speed in July with the creation of 943,000 new positions. Most of those jobs are for leisure and hospitality, but a large portion were also government jobs. According to MarketWatch, July’s hiring spree is the largest in about a year. It also helped reduce the unemployment rate from 5.9% in June to 5.4% in July. (1) The weekly unemployment report also shows that fewer people applied for benefits. Initial state claims dropped to 385,000 for the last week of July. That’s the lowest number we’ve since the start of the pandemic. Continuing claims are down to 2.93 million. (2) If you add all the benefits that people ar

Transcript 00:00:00 Intro [Speaker] Kathy Fettke Doing an office exclusive on your home may not get you top dollar. There’s a new study that shows homes listed on the MLS sell for substantially more than those that are sold off the MLS. Hi I’m Kathy Fettke and this is Real Estate News for Investors. Thanks for joining me and don’t forget to hit the subscribe button for our podcast. We recently did a podcast on private listings, which are also known as pocket or whisper listings, because they seem to be growing more popular. It covered the pros and cons of keeping your home off the MLS for both buyers, sellers, and brokers. While some sellers like to sell privately to keep their identities, situations, or belongings private, it’s really the brokers who benefit. By selling privately, the broker may share the information, and the commission, with another broker, But in many cases, the seller’s broker will earn the entire buyer/seller commission. Private listings impact buyers also because they might not be aware

Transcript 00:00:00 Intro Kathy Fettke [Speaker] In this Real Estate News Brief for the week ending July 31st, 2021… an inflation surprise for the Fed Chief, where single-family rents are growing the most, and a pet’s influence on home buying decisions. Hi, I'm Kathy Fettke and this is Real Estate News for Investors. Economic News We begin with economic news from this past week. Fed Chief Jerome Powell uttered words that many economists had predicted -- inflation has risen higher and faster than he expected. But he still believes that prices will settle back down. As to when it will happen, he says that inflation will probably return closer to the central bank’s 2% mark in the next year… or so. There was “no” change to the Fed’s bond-buying strategy, or short-term interest rates. (1) The unemployment lines were a little shorter last week. Initial jobless claims were down 24,000 to 400,000. That’s after a surge that brought them to a two-month high. The previous increase was partially due to the shutdown of au

For the full transcript, click on the Notes tab on the podcast player for this episode on our website: www.NewsForInvestors.com. Transcript 00:00:00 Intro Music [Speaker] Kathy Fettke: With all the talk about the housing gap, you might think it’s because we have very strong population growth. But in reality, the opposite is true. The birth rate has dropped again, and population growth is close to zero. Hi I’m Kathy Fettke and this is the Real Estate News for Investors. Please take a moment to subscribe to our podcast. It helps us rank, and helps people find us! This episode is all about the status of the U.S. birth rate and population growth, because it’s so important to the present and future health of our economy. The economy needs to growth and for that to happen we need workers. A low growth rate now, means fewer workers in the coming years. Status on Birth Rate, Population Growth The U.S. has experienced a low birth rate for about a decade, and continues to dip below a threshold needed to replace people