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Economic update dated April 3, 2021
Happy April… U.S. employers added 916,000 jobs in March – The Department of Labor and Statics reported that 916,000 net new jobs were added in March. That number exceeded Dow Jones analysts’ expectations of 675,000 new jobs. The unempl...
Chinese Real Estate Investment Nosedives
Chinese investment in U.S. real estate last year declined by more than half, according to a Cushman & Wakefield report. The year 2017 saw a 55-percent plunge when compared to volume in 2015 and 2016 as Chinese investors spent only $7.3 billi...
Northridge Skateland Closes to Become Bridge Housing
Roller rink Skateland in Northridge has permanently closed after six decades, with the Northridge building slated to become a bridge housing facility through the nonprofit Hope of the Valley. “We would like to thank you, our loyal skaters,...
Joint Venture Breaks Ground on Supportive Housing Complex in Sylmar
Joint venture partners Meta Housing Corp. and LA Family Housing have officially broken ground on construction of Silva Crossing, a 56-unit permanent supportive housing project in Sylmar. The nonprofits have invested $30.5 million into the de...
Economic update for the week ending February 27, 2021
Stock markets dropped on fears of higher interest rates – As the economy appears to be recovering quicker than expected according to data and developments that are very positive, rising interest rates became a concern over the last two weeks....
Magic Mountain Plans to Reopen in Spring
Six Flags Entertainment Corp. announced plans to reopen its Magic Mountain theme park in Valencia this spring, one year after the business was shuttered due to the onset of the coronavirus pandemic. The amusement park didn’t disclose the s...
Low Interest Rates & Inventory Drive Up San Fernando Valley Home Prices
Interest rates near historic lows fueled strong San Fernando Valley home sales last month, pushing prices higher even as the inventory of homes for sale fell to a record low, according to a Southland Regional Association of Realtors report. ...
FHFA Extends Foreclosure & REO Eviction Moratoriums & COVID Forbearance Period
Today, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) are extending the moratoriums on single-family foreclosures and real estate owned (REO) evictions until March 31, 2021. The foreclosure...