Steve Spiro’s Blog

This article summarizes four different stories about cities around the world. In San Francisco, CA a new state law will limit the ability of local residents to block dense urban projects. In Bergen, Norway, the world's longest bike tunnel has been completed, and in Colorado, a new front range rail line is gaining steam. Finally,…

Many middle-income tenants in California's subsidized housing programs may face unexpected tax bills due to an obscure taxation rule.

Apartment List's rental market data reveals that the average rent in the U.S. is $1,372 per month. The most expensive states to rent in are Hawaii ($2,418), California ($1,958), and the District of Columbia ($1,842). These states are expensive due to their temperate climates, dense populations, competitive housing markets, high cost of living, and above-average…

Due to the surge in the 10-year Treasury yield, commercial real estate values have declined significantly, with some areas experiencing a drop of 20%. This has caused concern for the state of the market, with mortgage rates rising and returns for property investors decreasing. Analysts from Barclays forecast that office property prices will drop by…

A recent survey reveals the income needed for singles to live comfortably in the US.

The avg vacancy rate in California is 8.5%.

High State Income Taxes: California is known for its high state income taxes, which add to the overall cost of living.

The housing market in October is not looking any different from the current market, with mortgage rates remaining high and limited inventory. Home prices are also expected to continue to rise, making it even more difficult for buyers to afford. However, despite the challenge, it is still possible to buy a home in October. Continue…

The California Association of Realtors is predicting that single-family home sales will increase by 22.9% in 2024, with the sale of 327,100 homes statewide. Jordan Levine, the group's senior vice president and chief economist, said slower economic growth and cooling inflation will bring down mortgage interest rates, which will spur home sales and create a…

Jumbo mortgages are loan types that exceed the 2023 limits of conforming loans, with rates often similar to rates for conforming loans but can be higher. The current jumbo 30-year fixed mortgage rate is 7.15%, while the jumbo 15-year rate is 7.15% and these rates are not the teaser rates that may be advertised online.…