Jonathan Lansner

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Renters vs. homeowners: Political divide as wide as their affordability gaps

Renters are more worried than homeowners about California’s housing woes.

You do not have to be a pollster to figure this out. But the gap revealed in a new survey from the Public Policy Institute of California shows key differences.

For example, the survey of 1,702 California adults shows 13 percent of renters say real estate costs were their top California concern. Just 7 percent of homeowners felt the same way. One thing homeowners typically possess that renters don’t — the relative certainty of what the roof over your head will cost.

I know California renters tend to be younger, make less money and are more financially crunched than homeowners. And the survey says homeowners lean more conservatively than renters — 38 percent vs. 29 percent. But since this state is only slightly tilted toward homeowners, demographically speaking, these renter sentiments — especially on business-related issues — cannot be ignored.

Please note there was not total disagreement in the poll. Jobs and the economy were cited as the top issues to tackle in the state for renters and homeowners alike.

But mixed dollars-and-cents anxieties showed up when pollsters were asked about California economic prospects 12 months out. Renters were cautious, with only a slim difference between those who saw “good times” ahead vs. “bad times” — 48 percent optimistic vs. 42 percent pessimistic. Owners were an enthusiastic group: 53 percent were upbeat vs. 37 percent downbeat.

There was, however, significant disagreement on the importance of immigration issues: 18 percent of homeowners listed it as their top concern vs. 13 percent of renters. And 26 percent of homeowners told pollsters that immigrants are a burden to society vs. 14 percent of renters.

It may be that renters show more sympathy to immigrants — legal or otherwise — because they are more likely to be immigrants themselves or they empathize on an economic level.

Now the institute’s timing for the poll was clearly political with a state primary ahead. Renter and homeowner views differed here, too.

Gov. Jerry Brown got high grades from the tenant crowd: 45 percent favorable vs. 25 percent unfavorable. More homeowners like Brown — 51 percent approval — than owners who didn’t like the governor — 38 percent disapproval.

President Donald Trump wasn’t popular, but the scorn varied as shown by the spread between “favorable” impressions and “unfavorable.”

For renters, 23 percent liked Trump vs. 69 percent who disliked him. That’s a 46 percentage point difference in favorability. Homeowners weren’t too pleased either, but less dramatically so: 38 percent favorable vs. 56 percent unfavorable, an 18 percentage-point gap.

Both groups didn’t care for their lawmakers, especially the D.C. version, with owners a bit more passionate with their disdain.

The Sacramento legislature drew “disapprove” marks from 45 percent of homeowners and 33 percent of renters. Congressional disapproval was 71 percent among homeowners and 62 percent of renters.

That brings us to the upcoming political horse races.

When the pollsters asked likely voters about their primary ballot-box preferences, there was not much difference in top choices in the big statewide races: two Democrats, Gavin Newsom for governor and incumbent Diane Feinstein for U.S. senator.

But the No. 2 preference for governor — who’ll run against the top vote-getter come November — varied: Republican John Cox’s got the homeowners’ nod and Democrat Antonio Villaraigosa from renters.

Perhaps the most intriguing political battles of the year are local races for Congress. And another political divide emerges. Renters decidedly want a Democrat going to the House of representatives while homeowners are essentially a “toss-up” between the two parties.

Please think ahead, too. This renter-homeowner schism isn’t going away any year soon. And it could shift the statewide balance of power on key economic issues — especially housing ones, like rental control or the future of Prop. 13.

DID YOU SEE?

California ranked as nation’s 5th fastest-growing economy

Southern California pay hits record highs as workers get more hours

California’s record low unemployment is far from perfect

Southern California homeownership on the rise, but still lags nation

California critic’s ultimate critique: He moved to Pennsylvania!

Southern California auto sales drop! Dip from peak or warning signal?

Permanent link to this article: https://www.ocregister.com/2018/05/27/renters-vs-homeowners-political-divide-as-wide-as-their-affordability-gaps/

We’re workaholics! Southern California tops U.S. in skipping vacation and checking-in during time off

Southern Californians, workaholics?

Well, I’m willing to suggest that a new study of vacation habits strongly suggests the local workforce doesn’t live up to its “laid back” lifestyle.

Job-placement specialists Accountemps surveyed workers in 28 major U.S. metropolitan areas about their plans for summer vacation. I decided to craft a “workaholism index” from the poll results using my trusty spreadsheet. I ranked the 28 regions on what share of employees would do things a work junkie would do. For instance: take little time off this summer and check in with work during whatever “vacation” time was used.

Southern Californians got the highest “workaholic” score ahead of Nashville, San Francisco and Miami. The lowest workaholic scores, by my math, were in Raleigh, Salt Lake City and Philadelphia.

No vacation plans? That’s 9 percent of local workers, second highest among the 28 metros, trailing only Nashville, at 11 percent.

Not unplugging from the job when time off? That’s 77 percent of Southern Californians, tops among the 28 metros.

Now, to be fair to the local workforce, there may be some explanations.

One is checkbook related. It’s a pricey place to live and financial motivations may put vacationing on the back burner for numerous households. Many Southern Californians are self-employed or work for small companies where vacation pay isn’t readily available.

And, clearly, the poll also shows not every Southern Californian is skipping time off. The region tied St. Louis for the highest average number of days off planned for this summer — 10. And where are the most folks planning to take longer breaks of 16-plus days? Southern California, where 27 percent of workers have extended vacations in the works.

Those lengthy stints off the clock may explain the local penchant to check in with the job. You don’t want the boss to forget about you. And thankfully, even though many locals seek workplace updates, that bad habit could be worse.

Yes, 61 percent of Southern California workers admit to making contact with the job at least weekly while vacationing, ranking second-highest behind Miami.

But daily contact? In Southern California, it’s only 16 percent of workers — ninth highest among the big metros. (Tops was New York at 21 percent of its workforce looking like vacationing workaholics.)

Maybe these local extremes are all about locals mastering technology, which is helping keep folks tethered to the job 24-7-365! Or the fact that living in one of the world’s favorite vacation spots means you don’t have to travel much to unwind. Or the challenge of paying the bills.

Any way you slice it, the survey suggests too many Southern Californians can’t say “no” to the boss.

DID YOU SEE?

California ranked as nation’s 5th fastest-growing economy

Southern California pay hits record highs as workers get more hours

California’s record low unemployment is far from perfect

Southern California homeownership on the rise, but still lags nation

California critic’s ultimate critique: He moved to Pennsylvania!

Southern California auto sales drop! Dip from peak or warning signal?

Permanent link to this article: https://www.ocregister.com/2018/05/25/southern-californias-workaholics-skip-vacation-and-check-in-during-time-off/

Homebuying in Santa Ana jumps 8%! 12 trends to know

Homebuying in Santa Ana rose 8.11 percent in 2018’s first three months vs. 2017’s first quarter.

Real estate tracker CoreLogic found these 12 trends in six ZIP codes covered by Santa Ana …

1. Purchases: Home sales in this period totaled 466 vs. 431 a year earlier, a gain of 8.1 percent in a year.

2. Who’s up: Prices increased in 5 of the 6 ZIPs as sales rose in 5 ZIPs.

3. Countywide: $710,000 median selling price, up 6.4 percent in a year. Orange County sales totaled 7,800 residences, existing and new, vs. 8,041 a year earlier, a decline of 3.0 percent in a year. Prices rose in 67 out of 83 Orange County ZIPs and sales were up in 33 out of 83 ZIPs.

Here is how prices and sales moved at the community level in 2018’s first three months vs. 2017’s first quarter.

4. Santa Ana 92701: $350,000 median, up 14.8 percent in a year. Price rank? 82nd of 83 Orange County ZIPs. Sales of 65 vs. 44 a year earlier, up 47.7 percent in a year.

5. Santa Ana 92703: $531,750 median, up 21.5 percent in a year. Ranks 75th highest of 83. Sales of 79 vs. 72 a year earlier, up 9.7 percent in a year.

6. Santa Ana 92704: $535,000 median, up 5.0 percent in a year. Ranks 72nd highest of 83. Sales of 107 vs. 106 a year earlier, up 0.9 percent in a year.

7. Santa Ana 92705: $915,000 median, up 21.7 percent in a year. Ranks 18th highest of 83. Sales of 87 vs. 83 a year earlier, up 4.8 percent in a year.

8. Santa Ana 92706: $635,000 median, down 1.9 percent in a year. Price rank? 57th of 83 Orange County ZIPs. Sales of 52 vs. 62 a year earlier, a decline of 16.1 percent in a year.

9. Santa Ana 92707: $430,000 median, up 8.5 percent in a year. Price rank? 80th of 83 Orange County ZIPs. Sales of 76 vs. 64 a year earlier, up 18.8 percent in a year.

Let’s toss in three more countywide trends …

10. Single-family homes resales: 4,614 Orange County sales vs. 4,762 a year earlier, a decline of 3.1 vs. a year earlier. Median: $760,000 — a rise of 5.6 percent in a year.

11. Condo resales: 2,097 Orange County sales vs. 2,343 a year earlier, a decline of 10.5 percent in a year. Median: $495,000 — a rise of 4.2 percent in a year.

12. New homes: 1,089 Orange County sales vs. 934 a year earlier, a gain of 16.6 percent in a year. Median: $873,000 — a rise of 0.6 percent in a year.

DID YOU SEE?

California ranked as nation’s 5th fastest-growing economy

Southern California pay hits record highs as workers get more hours

California’s record low unemployment is far from perfect

Southern California homeownership on the rise, but still lags nation

California critic’s ultimate critique: He moved to Pennsylvania!

Southern California auto sales drop! Dip from peak or warning signal?

Permanent link to this article: https://www.ocregister.com/2018/05/25/homebuying-in-santa-ana-jumps-8-12-trends-to-know/

Home sales off 13% in north Orange County, from Yorba Linda to La Habra: What 2 ZIPs bucked the trend?

Homebuying in Brea, Buena Park, Fullerton, La Habra, La Palma, Placentia and Yorba Linda fell 13.4 percent in 2018’s first three months vs. 2017’s first quarter.

Real estate tracker CoreLogic found these 19 trends in 13 Orange County ZIP codes covered by the Orange County Register’s North County News weekly, …

1. Purchases: Home sales in this period totaled 984 vs. 1,137 a year earlier, a decline of 13.4 percent in a year.

2. Who’s up: Prices increased in 11 of the 13 ZIPs as sales rose in only two ZIPs.

3. Countywide: There was a $710,000 median selling price, up 6.4 percent in a year. Sales of 7,800 vs. 8,041 a year earlier, a decline of 3 percent in a year. Prices rose in 67 out of 83 Orange County ZIPs and sales were up in 33 out of 83.

Here is how prices and sales moved at the community level …

4. Brea 92821: $694,250 median, up 3.8 percent in a year. Price rank? 44th of 83 Orange County ZIPs. Sales of 78 vs. 105 a year earlier, a decline of 25.7 percent in a year.

5. Brea 92823: $800,000 median, up 14.3 percent in a year. Ranks 26th priciest of 83 ZIPs. Sales of 23 vs. 42 a year earlier, a decline of 45.2 percent in a year.

6. Buena Park 90620: $570,000 median, up 5.0 percent in a year. Ranks 65th priciest of 83 ZIPs. Sales of 84 vs. 101 a year earlier, a decline of 16.8 percent in a year.

7. Buena Park 90621: $537,000 median, up 0.8 percent in a year. Ranks 71st priciest of 83 ZIPs. Sales of 57 vs. 61 a year earlier, a decline of 6.6 percent in a year.

8. Fullerton 92831: $591,250 median, down 5.4 percent in a year. Ranks 61st priciest of 83 ZIPs. Sales of 66 vs. 49 a year earlier, up 34.7 percent in a year.

9. Fullerton 92832: $530,000 median, up 3.4 percent in a year. Ranks 76th priciest of 83 ZIPs. Sales of 23 vs. 41 a year earlier, a decline of 43.9 percent in a year.

10. Fullerton 92833: $600,000 median, up 9.1 percent in a year. Ranks 60th priciest of 83 ZIPs. Sales of 109 vs. 111 a year earlier, a decline of 1.8 percent in a year.

11. Fullerton 92835: $730,000 median, up 2.4 percent in a year. Ranks 35th priciest of 83 ZIPs. Sales of 77, flat vs. a year earlier.

12. La Habra 90631: $546,000 median, up 12 percent in a year. Ranks 69th priciest of 83 ZIPs. Sales of 129 vs. 148 a year earlier, a decline of 12.8 percent in a year.

13. La Palma 90623: $708,750 median, up 13.6 percent in a year. Ranks 41st priciest of 83 ZIPs. Sales of 27 vs. 25 a year earlier, up 8 percent in a year.

14. Placentia 92870: $645,750 median, up 4.7 percent in a year. Ranks 56th priciest of 83 ZIPs. Sales of 104 vs. 124 a year earlier, a decline of 16.1 percent in a year.

15. Yorba Linda 92886: $772,500 median, down 1.7 percent in a year. Ranks 29th priciest of 83 ZIPs. Sales of 152 vs. 185 a year earlier, a decline of 17.8 percent in a year.

16. Yorba Linda 92887: $893,000 median, up 5.4 percent in a year. Ranks 19th priciest of 83 ZIPs. Sales of 55 vs. 68 a year earlier, a decline of 19.1 percent in a year.

Let’s toss in three more countywide trends …

17. Single-family homes resales: 4,614 Orange County sales vs. 4,762 a year earlier, a decline of 3.1 percent in a year. Median: $760,000 — a rise of 5.6 percent in a year.

18. Condo resales: 2,097 sales vs. 2,343 a year earlier, a decline of 10.5 percent in a year. Median: $495,000 — a rise of 4.2 percent in a year.

19. New homes: 1,089 sales vs. 934 a year earlier, a gain of 16.6 vs. a year earlier. Median: $873,000 — a rise of 0.6 percent in a year.

DID YOU SEE?

California ranked as nation’s 5th fastest-growing economy

Southern California pay hits record highs as workers get more hours

California’s record low unemployment is far from perfect

Southern California homeownership on the rise, but still lags nation

California critic’s ultimate critique: He moved to Pennsylvania!

Southern California auto sales drop! Dip from peak or warning signal?

Permanent link to this article: https://www.ocregister.com/2018/05/24/947887/

Irvine, Los Angeles high on U.S. cities’ population growth list

Giant Los Angeles and relatively small Irvine made the list of the 15 U.S. cities adding the most residents in the year ended July 1.

Population growth in the two Southern California cities was highlighted in a Census Bureau report released Thursday, May 24.

At the city level for the 12 months studied, Los Angeles added 18,643 people — the nation’s No. 5 gain in population count and just 241 people shy of 4 million. That’s a modest growth of 0.47 percent. L.A., by the way, was the nation’s No. 2 city for overall population behind New York City.

Irvine added 11,068 people in the year — the No. 14 gain in population count — to 277,453. That’s a 4.15 percent growth. The city is undergoing a homebuilding surge that is luring new residents.

Texas also was high on these city growth charts. San Antonio added the most residents in the nation, up 24,208 residents to 1,511,946 That’s a 1.63 percent growth. The Dallas suburb of Frisco was the fastest growing city in the year by percentage gain — up 8.2 percent to 177,286. And Fort Worth become the 15th most-populous city: its population of 874,168 surpassed Indianapolis at 863,002.

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Statewide, the census tallied 39.54 million residents — tops in the U.S. That’s up 240,177 in a year and the No. 3 increase nationally — or 0.61 percent growth — 21 fastest out of 50 states. And the U.S. population grew by 2.3 million to 326 million, 0.7 percent growth.

DID YOU SEE?

California ranked as nation’s 5th fastest-growing economy

Southern California pay hits record highs as workers get more hours

California’s record low unemployment is far from perfect

Southern California homeownership on the rise, but still lags nation

California critic’s ultimate critique: He moved to Pennsylvania!

Southern California auto sales drop! Dip from peak or warning signal?

Permanent link to this article: https://www.ocregister.com/2018/05/24/los-angeles-irvine-high-on-u-s-cities-population-growth-lists/

Solar-power mandate will hurt California utilities. Or it won’t!

Always interesting to see the wide-ranging opinions from the so-called gurus on any news event.

Take California plans to mandate most new housing will have solar power installed. There’s plenty of worry/debate about who will pay for the loss of revenue utilities suffer when customers produce their own power.

Here’s what two Wall Street credit-rating agencies had to say recently about how this initiatives may impact the financial health of electricity providers.

Moody’s warning

“The shift toward solar-powered homes creates a cost structure challenge for California utilities and their customers. Because of the way utilities recover transmission and distribution costs, customers who self-generate power contribute less to the utility’s fixed costs, shifting those costs to customers who do not self-generate. New homes make up less than 1 percent of California’s total housing stock, but increased solar rooftop penetration rates will raise prices for non-solar customers so that utilities can maintain revenue. Continually shifting costs to balance out revenue is ultimately unsustainable for utilities’ business models. We expect that utilities will rely on regulators to monitor the credit customers receive through net energy metering and continue to modify that policy to help utilities navigate the energy shift. California is set to revisit its current net metering policy in 2019.”

Fitch’s assurance

“We do not expect the building requirement to have a material effect on public power issuer ratings. The requirements are consistent with the ongoing trend toward greater energy efficiency and reduced per capita electricity consumption in the state. Public power utilities have been planning for, and adapting their long-term supply strategies to, responding to this trend. Furthermore, many Fitch-rated public power issuers are in built-out communities with modest levels of new home growth. Those in higher growth areas, such as Roseville, already factored the much greater energy efficiency of new homes into their load forecasts.”

ICYMI …

Solar homes to skyrocket under California’s new energy rules

Mandating solar power for new homes? Great idea, California

Permanent link to this article: https://www.ocregister.com/2018/05/23/solar-power-mandate-will-hurt-california-utilities-or-it-wont/

Sneak peek at 20 luxury condos coming to Huntington Beach

  • Sketch of Huntington Beach condo-project where Main Street takes an elbow heading inland from the pier. (Sketch from Huntington Beach city records)

    Sketch of Huntington Beach condo-project where Main Street takes an elbow heading inland from the pier. (Sketch from Huntington Beach city records)

  • Huntington Beach project will hold 20 luxury condos. (Sketch from Huntington Beach city records)

    Huntington Beach project will hold 20 luxury condos. (Sketch from Huntington Beach city records)

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  • Huntington Beach approved a mixed-use project on the last remaining vacant lot in their downtown core. (Sketch from Huntington Beach city records)

    Huntington Beach approved a mixed-use project on the last remaining vacant lot in their downtown core. (Sketch from Huntington Beach city records)

  • Sketch if the Huntington Beach project’s roof-top deck. (Sketch from Huntington Beach city records)

    Sketch if the Huntington Beach project’s roof-top deck. (Sketch from Huntington Beach city records)

  • 414 Main Street will have 5,000 square feet of street level retail space.(Sketch from Huntington Beach city records)

    414 Main Street will have 5,000 square feet of street level retail space.(Sketch from Huntington Beach city records)

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Huntington Beach will get 20 beach-close condominiums on the city’s last vacant lot on Main Street.

Developer Pete Zehnder of Collective Housing Supply Co., who’s been part of some innovative in-fill projects in Costa Mesa, won approval for the project at 414 Main St. with a 3-3 vote by city council to override the planning commission’s previous approval. Parking issues had challenged the project.

The Main Street project, designed by JZMK Partners, will hold 20 self-described “luxury” residences ranging in size from 1,150 to 1,800 square feet, a rooftop deck, 5,000 square feet of street-level retail space and subterranean parking.

Homebuying in Huntington Beach rose 4 percent in 2018’s first three months vs. 2017’s first quarter. Real estate tracker CoreLogic found home sales in this period totaled 452 vs. 436 a year earlier.

Prices increased in three of the city’s four ZIP codes:

  • ZIP 92646, $648,000 median, down 1.9 percent in a year;
  • ZIP 92647, $727,500 median, up 7.1 percent in a year;
  • ZIP 92648: $870,000 median, up 1.2 percent in a year;
  • ZIP 92649, $860,000 median, up 13.2 percent in a year.
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DID YOU SEE?

California ranked as nation’s 5th fastest-growing economy

Southern California pay hits record highs as workers get more hours

California’s record low unemployment is far from perfect

Southern California homeownership on the rise, but still lags nation

Permanent link to this article: https://www.ocregister.com/2018/05/23/sneak-peek-at-20-luxury-condos-coming-to-huntington-beach/

Homebuying cools in Anaheim, Orange and Villa Park: 19 trends to see

Homebuying in Anaheim, Orange and Villa Park cooled 4.6 percent in 2018’s first three months vs. 2017’s first quarter.

Real estate tracker CoreLogic found these 16 trends in 13 ZIP codes covered by the Orange County Register’s Anaheim Bulletin weekly …

1. Purchases: Home sales in this period totaled 847 vs. 888 a year earlier, a decline of 4.6 percent in a year.

2. Who’s up: Prices increased in 10 of the 13 ZIPs as sales rose in 5 ZIPs.

3. Countywide: $710,000 median selling price, up 6.4 percent in a year. Orange County sales totaled 7,800 residences, existing and new, vs. 8,041 a year earlier, a decline of 3.0 percent in a year. Prices rose in 67 out of 83 Orange County ZIPs and sales were up in 33 out of 83 ZIPs.

Here is how prices and sales moved at the community level …

4. Anaheim 92801: $535,000 median, up 2.4 percent in a year. Price rank? 72nd of 83. Sales of 69 vs. 67 a year earlier, a gain of 3.0 percent in a year.

5. Anaheim 92802: $549,000 median, up 10.1 percent in a year. Price rank? 68th of 83. Sales of 60 vs. 47 a year earlier, a gain of 27.7 percent in a year.

6. Anaheim 92804: $545,000 median, up 11.2 percent in a year. Price rank? 70th of 83. Sales of 119 vs. 122 a year earlier, a decline of 2.5 percent in a year.

7. Anaheim 92805: $535,000 median, flat vs. a year earlier. Price rank? 72nd of 83. Sales of 77 vs. 101 a year earlier, a decline of 23.8 percent in a year.

8. Anaheim 92806: $608,000 median, down 6.5 percent in a year. Price rank? 59th of 83. Sales of 34 vs. 47 a year earlier, a decline of 27.7 percent in a year.

9. Anaheim 92807: $698,500 median, up 14.5 percent in a year. Price rank? 42nd of 83. Sales of 122 vs. 99 a year earlier, a gain of 23.2 percent in a year.

10. Anaheim 92808: $680,000 median, up 0.7 percent in a year. Price rank? 47th of 83. Sales of 76 vs. 66 a year earlier, a gain of 15.2 percent in a year.

11. Orange 92865: $650,000 median, up 9.7 percent in a year. Price rank? 52nd of 83. Sales of 63 vs. 51 a year earlier, a gain of 23.5 percent in a year.

12. Orange 92866: $682,750 median, up 9.2 percent in a year. Price rank? 46th of 83. Sales of 26 vs. 27 a year earlier, a decline of 3.7 percent in a year.

13. Orange 92867: $711,000 median, up 3.8 percent in a year. Price rank? 39th of 83. Sales of 73 vs. 89 a year earlier, a decline of 18 percent in a year.

14. Orange 92868: $440,000 median, down 2.2 percent in a year. Price rank? 79th of 83. Sales of 25 vs. 39 a year earlier, a decline of 36 percent in a year.

15. Orange 92869: $688,000 median, up 25.2 percent in a year. Price rank? 45th of 83. Sales of 89 vs. 115 a year earlier, a decline of 22.6 percent in a year.

16. Villa Park 92861: $1,190,000 median, up 8.2 percent in a year. Price rank? 9th of 83. Sales of 14 vs. 18 a year earlier, a decline of 22.2 percent in a year.

Let’s toss in three more countywide trends …

17. Single-family homes resales: 4,614 Orange County sales vs. 4,762 a year earlier, a decline of 3.1 percent in a year. Median: $760,000 — a rise of 5.6 percent in a year.

18. Condo resales: 2,097 sales vs. 2,343 a year earlier, a decline of 10.5 percent in a year. Median: $495,000 — a rise of 4.2 percent in a year.

19. New homes: 1,089 sales vs. 934 a year earlier, a gain of 16.6 percent in a year. Median: $873,000 — a rise of 0.6 percent in a year.

DID YOU SEE?

California ranked as nation’s 5th fastest-growing economy

Southern California pay hits record highs as workers get more hours

California’s record low unemployment is far from perfect

Southern California homeownership on the rise, but still lags nation

California critic’s ultimate critique: He moved to Pennsylvania!

Southern California auto sales drop: Dip from peak or warning signal?

Permanent link to this article: https://www.ocregister.com/2018/05/23/homebuying-cools-in-anaheim-orange-and-villa-park-19-trends-to-see/

California school spending grows at fastest pace in the U.S.

Few monetary issues draw more emotion or scrutiny than the ups and downs of government’s educational expenses.

This year, the heated “invest in our kids” debate has rattled state capitols across the nation as teachers in West Virginia, Kentucky, Oklahoma, Colorado and Arizona walked out of classrooms and headed to picket lines and rallies to protest low wages.

All this labor turmoil comes as California schools have been enjoying nation-leading increases in “elementary/secondary” educational spending, according to new Census Bureau data.

This report by a relatively independent arbiter — covering up to 2016 spending patterns nationwide — gives a glimpse into how California public school budgets compare with nationwide trends. It tallies taxpayer funds going to everything from pre-kindergarten through 12th grade and includes charter schools if they’re school-district-funded.

Let’s not forget California’s governmental budgets (handling all chores) were hammered by the Great Recession. School spending was certainly a victim, too. So some of this recent statewide surge in school outlays — which includes tracking salary, benefits (including funding for pensions), various supplies, transportation, and capital projects — is simply restoring educational spending to previous levels.

To better educate myself on educational dollars, I tossed the state-by-state census data into my trusty spreadsheet. Here is what I learned…

1. How big? California has the biggest U.S. schooling challenge — 6.22 million enrolled pupils. And that’s roughly 1-in-8 of the 48.57 million pupils nationwide. And when the population is taken into consideration, California’s enrollment equals 15.8 percent of its residents. Golden State school kids’ share of the California population is slightly above the 15 percent nationwide norm.

2. How much? California spent $11,495 per-pupil in 2016. That’s No. 23 nationally and just below the $11,762 U.S. average. But California school expenditures were up 9.8 percent 2016 vs. 2015 — the biggest jump nationally and slightly more than triple the nation’s 3.2 percent average. By the way, California ranked No. 29 in spending for 2015.

3. Longer-term view? From 2011 to 2016, California’s per-pupil spending increased 26 percent in this post-recession era. That’s the No. 1 jump nationally and more than double the 10.9 percent jump nationwide. The spending splurge in those five years moved California up 13 spots from 36th place nationally, the largest surge among the states.

4. Cost per citizen? It usually takes cash to spend it, and California’s total personal income equals $54,718 per resident, 10th highest among the states and above the $48,451 U.S. average. Education’s bite — the cost of schooling as a slice of income — approximates 3.4 percent of Californians’ total earnings. Note: 38 states spend proportionally more on schooling, by this math, and California is below the nationwide 3.8 percent average.

5. Where spending goes? Classroom instruction gets 58.6 percent of California’s overall school spending, a budgetary slice that’s below the 60.9 percent spent by schools on the job of teaching nationwide. The rest goes for everything from administration efforts to day-to-day operations to construction projects and financing costs. And the much-debated California worker perquisites? Employee benefits were 23.9 percent of 2016 school spending statewide vs. 23.2 percent nationwide.

6. Worthy investment? Here’s how California ranks for basic skills among its eighth graders by the National Assessment of Educational Progress rankings. Last year, 29 states had students with better reading abilities. But in 2011, California trailed 44 states. In 2017, pupils in 33 states had better math skills than Californians vs. 44 in 2011. I guess you could say, slow progress.

7. Why the teacher strikes? When you look at national patterns in money spent on classroom instruction — salary and benefits — recent labor unrest was focused where teacher wages were low on a per-pupil basis. Arizona paid the worst in the nation in 2016, by this metric; followed by Oklahoma, second lowest; Colorado, 12th lowest; Kentucky, No. 18; and West Virginia, No. 25. By the way, using this salary-to-pupil yardstick, California teachers rank 27th least compensated — $6,033 in teacher salary and benefits per pupil. Compare that to Arizona’s $3,697 or top-paid New York’s $14,508 or a nationwide average $6,488.

DID YOU SEE?

California ranked as nation’s 5th fastest-growing economy

Southern California pay hits record highs as workers get more hours

California’s record low unemployment is far from perfect

Southern California homeownership on the rise, but still lags nation

California critic’s ultimate critique: He moved to Pennsylvania!

Southern California auto sales drop! Dip from peak or warning signal?

Permanent link to this article: https://www.ocregister.com/2018/05/22/california-school-spending-grows-at-fastest-pace-in-the-u-s/

Homebuying cools in Irvine, Tustin: 14 facts to know

Homebuying in Irvine and Tustin cooled 2 percent in 2018’s first three months vs. 2017’s first quarter.

Real estate tracker CoreLogic found these 14 trends in 11 ZIP codes covered by the Orange County Register’s Irvine World News weekly, …

1. Purchases: Home sales in this period totaled 1,254 vs. 1,280 a year earlier, a decline of 2 percent in a year.

2. Who’s up: Prices increased in 6 of the 11 ZIPs as sales rose in 5 ZIPs.

3. Countywide: $710,000 median selling price, up 6.4 percent in a year. Orange County sales totaled 7,800 residences, existing and new, vs. 8,041 a year earlier, a decline of 3.0 percent in a year. Prices rose in 67 out of 83 Orange County ZIPs and sales were up in 33 out of 83 ZIPs.

Here is how prices and sales moved at the community level …

4. Irvine 92602: $1,192,000 median, up 33.7 percent in a year. Price rank? 8th of 83 ZIPs. Sales of 66 vs. 125 a year earlier, a decline of 47.2 percent in a year.

5. Irvine 92603: $1,150,000 median, down 10.2 percent in a year. Price rank? No. 10 of 83. Sales of 54 vs. 72 a year earlier, a decline of 25.0 percent in a year.

6. Irvine 92604: $790,000 median, down 2.8 percent in a year. Price rank? No. 27 of 83. Sales of 58 vs. 61 a year earlier, a decline of 4.9 percent in a year.

7. Irvine 92606: $770,000 median, down 4.9 percent in a year. Price rank? No. 30 of 83. Sales of 25 vs. 33 a year earlier, a decline of 24.2 percent in a year.

8. Irvine 92612: $714,500 median, up 12.0 percent in a year. Price rank? No. 38 of 83. Sales of 96 vs. 92 a year earlier, a gain of 4.3 percent in a year.

9. Irvine 92614: $664,000 median, up 2.9 percent in a year. Price rank? No. 50 of 83. Sales of 48 vs. 40 a year earlier, a gain of 20.0 percent in a year.

10. Irvine 92618: $811,000 median, down 9.5 percent in a year. Price rank? No. 24 of 83. Sales of 362 vs. 238 a year earlier, a gain of 52.1 percent in a year.

11. Irvine 92620: $962,000 median, up 13.1 percent in a year. Price rank? No. 13 of 83. Sales of 301 vs. 299 a year earlier, a gain of 0.7 percent in a year.

12. Tustin 92780: $659,000 median, down 2.4 percent in a year. Price rank? No. 51 of 83. Sales of 86 vs. 112 a year earlier, a decline of 23.2 percent in a year.

13. Tustin 92782: $751,500 median, up 17.8 percent in a year. Price rank? No. 33 of 83. Sales of 71 vs. 125 a year earlier, a decline of 43.2 percent in a year.

14. Santa Ana/North Tustin 92705: $915,000 median, up 21.7 percent in a year. Price rank? No. 18 of 83. Sales of 87 vs. 83 a year earlier, a gain of 4.8 percent in a year.

DID YOU SEE?

California ranked as nation’s 5th fastest-growing economy

Southern California pay hits record highs as workers get more hours

California’s record low unemployment is far from perfect

Southern California homeownership on the rise, but still lags nation

California critic’s ultimate critique: He moved to Pennsylvania!

Southern California auto sales drop 9%: Dip from peak or warning signal?

Permanent link to this article: https://www.ocregister.com/2018/05/22/homebuying-cools-in-irvine-tustin-14-facts-to-know/

159,171 Orange County homes are owned mortgage-free. What town had the most?

In Orange County, 159,171 homeowners possess an enticing slice of the American dream — mortgage-free living.

An analysis of 2012-2016 Census Bureau housing data found an average 27.4 percent of the county’s 581,506 owner-occupied residences did not have a mortgage on the property. Only 12 California counties had a smaller share of mortgage-free homes.

Statewide, 27.8 percent of owners live mortgage-free. Inyo County was tops with 53.5 percent free and clear; San Benito County was lowest at 22.5 percent.

Here are Orange County’s communities with the highest share of mortgage-free living, and rank, among the state’s 500 most-populous towns:

1. Laguna Woods: 70.7 percent mortgage-free — 6,074 of 8,587 homes. State rank: No. 1.

2. Seal Beach: 67.6 percent  — 6,260 of 9,256 homes. No. 2.

3. Westminster: 35.8 percent — 5,148 of 14,363 homes. No. 70.

4. Fountain Valley: 33.2 percent  — 4,364 of 13,142 homes. No. 106.

5. Newport Beach: 33 percent  — 6,949 of 21,055 homes. No. 110.

6. Stanton: 32 percent — 1,781 of 5,570 homes.  No. 127.

7. Laguna Beach: 31.9 percent — 2,110 of 6,607 homes.  No. 128.

8. Rossmoor: 31.6 percent — 1,069 of 3,381 homes. No. 134.

9. La Palma: 31.5 percent — 1,067 of 3,388 homes. No. 137.

10. Dana Point: 31.5 percent — 2,792 of 8,873 homes.  No. 137.

Other big communities, share of mortgage-free housing and rank among state’s 500 most-populous towns:

Huntington Beach: 31.1 percent mortgage-free — 13,704 of 44,002 homes. State rank: No. 144.

Garden Grove: 28.7 percent — 7,353 of 25,643 homes. No. 204.

Santa Ana: 28.4 percent — 9,418 of 33,206 homes. No. 217.

Fullerton: 27.8 percent  — 6,480 of 23,285 homes. No. 240.

Irvine: 26 percent — 11,171 of 42,981 homes. No. 297.

Anaheim: 25.3 percent — 11,462 of 45,271 homes. No. 322.

Orange: 22.9 percent — 5,539 of 24,221 homes. No. 376.

Mission Viejo: 22.2 percent — 5,779 of 26,012 homes. No. 394.

And lowest?

Ladera Ranch: 6.8 percent — 389 of 5,685 homes. No. 499.

DID YOU SEE?

California ranked as nation’s 5th fastest-growing economy

Southern California pay hits record highs as workers get more hours

California’s record low unemployment is far from perfect

Southern California homeownership on the rise, but still lags nation

California critic’s ultimate critique: He moved to Pennsylvania!

Southern California auto sales drop! Dip from peak or warning signal?

Permanent link to this article: https://www.ocregister.com/2018/05/21/159171-orange-county-homes-are-owned-mortgage-free-where-were-the-most/

Southern California’s rock-bottom unemployment means wages in the rise

What happens when Southern California unemployment rates plunge to lows not seen in at least decades?

Bosses have to pay up to attract and retain talent.

My trusty spreadsheet looked around Southern California to see how pay — measured by average weekly wages in the private sector — has moved as the supply of jobless workers fell by 425,000 in the past five years in the four-county region.

Los Angeles County bosses were the most generous, of late: The average weekly wages averaged $979 in the 12 months ended in April, up $41 a week or 4.3 percent in a year. That’s the fastest rate of increase since November 2011 and Southern California’s best.

Since 2013, L.A. wages have grown at a 2.7 annualized pace as jobs were added by local bosses at a 1.8 percent yearly rate. L.A. unemployment was 4.2 percent in April, lowest in the state database that goes back to 1990.

In the Inland Empire, weekly wages have averaged $808 in the past year, up $32 a week or 4.2 percent in a year. That was the largest rate of increase since February 2009.

Since 2013, wages in Riverside and San Bernardino counties have grown at a 1.9 annualized pace as jobs were added at a 4 percent yearly pace. Inland Empire unemployment was 4.2 percent in April, the lowest in the state’s database that goes back to 1990.

Orange County’s weekly wages have averaged $1,071 in the past year, the region’s highest. But that’s up only $13 a week or 1.2 percent in a year.

Since 2013, O.C. wages have grown at a 2.8 annualized pace as local bosses boosted staffs at a 2.3 percent yearly pace. Orange County’s unemployment rate was 2.6 percent in April, the lowest in 19 years.

One related economic trend dampens the value of these recent pay raises.

The Consumer Price Index for Los Angeles and Orange counties jumped at a 4 percent annual rate in the 12 months ended in April, up from a 2.7 percent rate a year earlier. This is the fastest upswing in the local cost of living since 2008 and it’s well above the national inflation rate of 2.5 percent for April.

At least many local paychecks can absorb the rising cost of buying that basket of consumer goods and services.

DID YOU SEE?

California ranked as nation’s 5th fastest-growing economy

Southern California pay hits record highs as workers get more hours

California’s record low unemployment is far from perfect

Southern California homeownership on the rise, but still lags nation

California critic’s ultimate critique: He moved to Pennsylvania!

Southern California auto sales drop! Dip from peak or warning signal?

Permanent link to this article: https://www.ocregister.com/2018/05/21/southern-californias-rock-bottom-unemployment-means-wages-in-the-rise/

Lake Forest, Mission Viejo, Rancho Santa Margarita, San Juan Capo: Where’s housing hotter?

Homebuying in inland South County — including Lake Forest, Mission Viejo, Rancho Santa Margarita and San Juan Capistrano — rose 7.46 percent in 2018’s first three months vs. 2017’s first quarter.

Real estate tracker CoreLogic found these 11 trends in 8 ZIP codes covered by the Orange County Register’s Saddleback News weekly …

1. Purchases: Home sales in this period totaled 1342 vs. 1,249 a year earlier, a gain of 7.5 percent in a year.

2. Who’s up: Prices increased in 7 of the 8 ZIPs as sales rose in 4 ZIPs.

3. Countywide: $710,000 median selling price, up 6.4 percent in a year. Orange County sales totaled 7,800 residences, existing and new, vs. 8,041 a year earlier, a decline of 3.0 percent in a year. Prices rose in 67 out of 83 Orange County ZIPs and sales were up in 33 out of 83 ZIPs.

Here is how prices and sales moved at the community level …

4. Mission Viejo 92691: $680,000 median, up 5.4 percent in a year. Price rank? 47th of 83. Sales of 158 vs. 153 a year earlier, a gain of 3.3 percent in a year.

5. Mission Viejo 92692: $695,000 median, up 3.7 percent in a year. Price rank? No. 43 of 83. Sales of 178 vs. 180 a year earlier, a decline of 1.1 percent in a year.

6. Lake Forest 92630: $739,500 median, up 5.6 percent in a year. Price rank? No. 34 of 83. Sales of 260 vs. 203 a year earlier, a gain of 28.1 percent in a year.

7. Foothill Ranch 92610: $570,000 median, down 19.8 percent in a year. Price rank? No. 65 of 83. Sales of 38 vs. 44 a year earlier, a decline of 13.6 percent in a year.

8. Rancho Santa Margarita 92688: $575,000 median, up 8.5 percent in a year. Price rank? No. 63 of 83. Sales of 157 vs. 197 a year earlier, a decline of 20.3 percent in a year.

9. Trabuco/Coto 92679: $982,500 median, up 31.9 percent in a year. Price rank? No. 12 of 83. Sales of 131 vs. 152 a year earlier, a decline of 13.8 percent in a year.

10. Ladera Ranch/Rancho Mission Viejo 92694: $710,500 median, up 0.4 percent in a year. Price rank? No. 40 of 83. Sales of 280 vs. 198 a year earlier, a gain of 41.4 percent in a year.

11. San Juan Capistrano 92675: $892,500 median, up 11.6 percent in a year. Price rank? No. 20 of 83. Sales of 140 vs. 122 a year earlier, a gain of 14.8 percent in a year.

DID YOU SEE?

California ranked as nation’s 5th fastest-growing economy

Southern California pay hits record highs as workers get more hours

California’s record low unemployment is far from perfect

Southern California homeownership on the rise, but still lags nation

California critic’s ultimate critique: He moved to Pennsylvania!

Southern California auto sales drop 9%: Dip from peak or warning signal?

Permanent link to this article: https://www.ocregister.com/2018/05/21/lake-forest-mission-viejo-rancho-santa-margarita-san-juan-capo-wheres-housing-hotter/

Huntington Beach, Fountain Valley, Garden Grove or Westminster: Where’s housing hotter?

Homebuying in what we’ll call the “Beach Boulevard Corridor” — in and around Huntington Beach, Fountain Valley, Garden Grove and Westminster — fell 0.6 percent in 2018’s first three months vs. 2017’s first quarter.

Real estate tracker CoreLogic found these 16 trends in 13 ZIP codes covered by the Orange County Register’s The Wave weekly …

1. Purchases: Home sales in this period totaled 984 vs. 990 a year earlier, a decline of 0.6 percent in a year.

2. Who’s up: Prices increased in 12 of the 13 ZIPs as sales rose in 5 ZIPs.

3. Countywide: $710,000 median selling price, up 6.4 percent in a year. Orange County sales totaled 7,800 residences, existing and new, vs. 8,041 a year earlier, a decline of 3.0 percent in a year. Prices rose in 67 out of 83 Orange County ZIPs and sales were up in 33 out of 83 ZIPs.

Here is how prices and sales moved at the community level …

4. Fountain Valley 92708: $760,000 median, up 0.7 percent in a year. Price rank? 31st of 83 ZIPs. Sales of 119 vs. 100 a year earlier, a gain of 19.0 percent in a year.

5. Garden Grove 92840: $560,000 median, up 6.7 percent in a year. Price rank? No. 67 of 83. Sales of 89 vs. 99 a year earlier, a decline of 10.1 percent in a year.

6. Garden Grove 92841: $619,000 median, up 8.6 percent in a year. Price rank? No. 58 of 83. Sales of 46 vs. 47 a year earlier, a decline of 2.1 percent in a year.

7. Garden Grove 92843: $522,500 median, up 3.5 percent in a year. Price rank? No. 78 of 83. Sales of 49 vs. 56 a year earlier, a decline of 12.5 percent in a year.

8. Garden Grove 92844: $528,500 median, up 37.3 percent in a year. Price rank? No. 77 of 83. Sales of 26 vs. 36 a year earlier, a decline of 27.8 percent in a year.

9. Garden Grove 92845: $670,000 median, up 3.1 percent in a year. Price rank? No. 49 of 83. Sales of 42 vs. 44 a year earlier, a decline of 4.5 percent in a year.

10. Huntington Beach 92646: $648,000 median, down 1.9 percent in a year. Price rank? No. 55 of 83. Sales of 149 vs. 141 a year earlier, a gain of 5.7 percent in a year.

11. Huntington Beach 92647: $727,500 median, up 7.1 percent in a year. Price rank? No. 36 of 83. Sales of 96 vs. 80 a year earlier, a gain of 20 percent in a year.

12. Huntington Beach 92648: $870,000 median, up 1.2 percent in a year. Price rank? No. 21 of 83. Sales of 129 vs. 116 a year earlier, a gain of 11.2 percent in a year.

13. Huntington Beach 92649: $860,000 median, up 13.2 percent in a year. Price rank? No. 22 of 83. Sales of 78 vs. 99 a year earlier, a decline of 21.2 percent in a year.

14. Midway City 92655: $589,000 median, up 24.0 percent in a year. Price rank? No. 62 of 83. Sales of 8, flat vs. a year earlier.

15. Stanton 90680: $430,000 median, up 6.4 percent in a year. Price rank? No. 80 of 83. Sales of 37 vs. 51 a year earlier, a decline of 27.5 percent in a year.

16. Westminster 92683: $649,500 median, up 20.3 percent in a year. Price rank? No. 54 of 83. Sales of 116 vs. 113 a year earlier, a gain of 2.7 percent in a year.

DID YOU SEE?

California ranked as nation’s 5th fastest-growing economy

Southern California pay hits record highs as workers get more hours

California’s record low unemployment is far from perfect

Southern California homeownership on the rise, but still lags nation

California critic’s ultimate critique: He moved to Pennsylvania!

Southern California auto sales drop 9%: Dip from peak or warning signal?

Permanent link to this article: https://www.ocregister.com/2018/05/20/huntington-beach-fountain-valley-garden-grove-or-westminster-wheres-housing-hotter/

Newport Beach, Laguna Beach, Costa Mesa homebuying: 12 facts why it’s cooling

Homebuying in Newport Beach, Laguna Beach and Costa Mesa cooled 1.7 percent in 2018’s first three months vs. 2017’s first quarter.

Real estate tracker CoreLogic found these 12 trends in nine ZIP codes covered by the northern edition of the Orange County Register’s The Current weekly, …

1. Purchases: Home sales in this period totaled 694 vs. 706 a year earlier, a decline of 1.7 percent in a year.

2. Who’s up: Prices increased in 7 of the 9 ZIPs as sales rose in 4 ZIPs.

3. Countywide: $710,000 median selling price, up 6.4 percent in a year. Sales of 7,800 vs. 8,041 a year earlier, a decline of 3.0 percent in a year. Prices rose in 67 out of 83 Orange County ZIPs and sales were up in 33 out of 83.

Here is how prices and sales moved at the community level …

4. Laguna Beach 92651: $1,740,000 median, down 27.5 percent in a year. Price rank in Orange County: sixth highest of 83 ZIPs. Sales of 98 vs. 104 a year earlier, a decline of 5.8 percent in a year.

5. Costa Mesa 92626: $760,000 median, up 14.1 percent in a year. Price rank? No. 31 of 83. Sales of 106 vs. 101 a year earlier, a gain of 5 percent in a year.

6. Costa Mesa 92627: $840,000 median, up 6.9 percent in a year. Price rank? No. 23 of 83. Sales of 157 vs. 140 a year earlier, a gain of 12.1 percent in a year.

7. Corona del Mar 92625: $2,730,000 median, up 47.6 percent in a year. Price rank? No. 3 of 83. Sales of 65 vs. 80 a year earlier, a decline of 18.8 percent in a year.

8. Newport Beach 92660: $1,827,500 median, up 25.0 percent in a year. Price rank? No. 5 of 83. Sales of 100 vs. 112 a year earlier, a decline of 10.7 percent in a year.

9. Newport Beach 92661: $2,953,250 median, up 33.5 percent in a year. Price rank? No. 2 of 83. Sales of 21 vs. 20 a year earlier, a gain of 5.0 percent in a year.

10. Newport Beach 92662: $3,625,000 median, up 16.0 percent in a year. Price rank? No. 1 of 83. Sales of 4 vs. 6 a year earlier, a decline of 33.3 percent in a year.

11. Newport Beach 92663: $1,285,000 median, down 19.7 percent in a year. Price rank? No. 7 of 83. Sales of 78 vs. 74 a year earlier, a gain of 5.4 percent in a year.

12. Newport Coast 92657: $2,490,000 median, up 15.1 percent in a year. Price rank? No. 4 of 83. Sales of 65 vs. 69 a year earlier, a decline of 5.8 percent in a year.

DID YOU SEE?

California ranked as nation’s 5th fastest-growing economy

Southern California pay hits record highs as workers get more hours

California’s record low unemployment is far from perfect

Southern California homeownership on the rise, but still lags nation

California critic’s ultimate critique: He moved to Pennsylvania!

Southern California auto sales drop 9%: Dip from peak or warning signal?

Permanent link to this article: https://www.ocregister.com/2018/05/19/newport-beach-laguna-beach-costa-mesa-homebuying-12-facts-why-its-cooling/

Orange County unemployment hits 19-year low: 12 trends to know

Bosses in Orange County added 29,400 jobs in the 12 months ended in April as the unemployment rate hit 2.6 percent, a 19-year low.

Here are 12 trends you need to know from the state Employment Development’s monthly jobs report for O.C. …

1. Total jobs: 1.64 million were employed in April vs. 1.61 million a year ago and an average of 1.55 million the last five years. Employers in Orange County added 11,100 workers vs. March.

2. Job growth: Up 1.83 percent in last year vs. 1.95 percent growth in the previous 12 months; and 2.26 percent annually in the last five years.

3. Unemployment rate: 2.6 percent in April vs. 2.8 percent the previous month and 3.4 percent a year earlier. Joblessness has averaged 4.56 percent last five years. The last time April unemployment was lower was 1999.

4. The number of jobless: 41,800 last month vs. 54,100 a year ago and an average of 72,355 the last five years.

5. Elsewhere: 3.8 percent comparable unemployment rate for California and 3.7 percent nationwide.

April trends in key employment sectors in Orange County employment sectors …

6. Private-industry: 1,470,400 jobs last month, up 1.93 percent in last year vs. up 2.11 percent in previous 12 months; and 2.33 percent five-year average growth.

7. Government: 165,700 jobs last month, up 0.98 percent in last year vs. 0.61 percent in previous 12 months; and 1.70 percent five-year growth.

8. Goods-making: 260,300 jobs last month, up 0.39 percent in last year vs. 2.77 percent in previous 12 months; and 2.06 percent five-year growth.

9. Service industries: 1,375,800 jobs last month, up 2.11 percent in last year vs. 1.80 percent in previous 12 months; and 2.3 percent five-year growth.

10. Note: There were 73,500 more people working at jobs in Orange County in April than there were Orange County residents employed. This gap averaged 32,308 in the last five years and helps explain added traffic congestion.

Combined April trends in Los Angeles, Orange, Riverside and San Bernardino counties …

11. Total jobs: 7.61 million, up 143,100 in a year. That’s 1.92 percent one-year growth vs. 2.3 percent average growth last five years.

12. 4-county unemployment rate: 3.7 percent vs. 3.9 percent the previous month and 4.3 percent a year earlier. Regionally, 323,700 were jobless last month vs. an average 532,247 during the last five years.

DID YOU SEE?

California ranked as nation’s 5th fastest-growing economy

Southern California pay hits record highs as workers get more hours

California’s record low unemployment is far from perfect

Southern California homeownership on the rise, but still lags nation

California critic’s ultimate critique: He moved to Pennsylvania!

Southern California auto sales drop! Dip from peak or warning signal?

Permanent link to this article: https://www.ocregister.com/2018/05/18/orange-county-unemployment-hits-19-year-low-12-trends-to-know/

Southern California housing plans must grow by 80% just to be ‘average’

It may seem like there’s lots of construction going on around Southern California, yet the region’s residential developers are in no way keeping up with the local hiring pace.

In 2018’s first three months, permits were filed for 10,253 new residential units in the four counties covered by the Southern California News Group. Yes, that’s up 4.5 percent in a year, but it’s down 9 percent compared with the average permitting rate since 1988.

My trusty spreadsheet tells me why the modest local construction growth is significant: Bosses in Southern California added 147,000 workers in the past year. That translates to 3.2 extra jobs in Los Angeles, Orange, Riverside and San Bernardino for every unit planned. The statewide hire-to-permits ratio was 2.8; nationally, 1.8.

Or look at the shortfall this way: Local developers would have to ramp up efforts by 80 percent to be on par with the national average. And it’s been 12 years since four-county permitting was even at that higher speed. This building gap helps explain why the area’s freeways are packed and affordable housing is so hard to find.

Yes, builders in Los Angeles and Orange counties did make some progress: 7,350 permits filed in the first quarter, up 8.6 percent in a year and up 14.9 percent compared with the 30-year average. Los Angeles-Orange County employment grew by 83,000 workers in the past year or 2.98 people for every unit planned.

But developers in Riverside and San Bernardino counties fell behind: 2,903 permits filed in 2018’s first three months, down 4.5 percent in a year and off 41 percent from the post-1988 pace. That didn’t stop Inland Empire bosses from adding 53,000 workers in the past year — or 3.9 people for every housing unit permitted in the period.

DID YOU SEE?

California ranked as nation’s 5th fastest-growing economy

Southern California pay hits record highs as workers get more hours

California’s record low unemployment is far from perfect

Southern California homeownership on the rise, but still lags nation

California critic’s ultimate critique: He moved to Pennsylvania!

Southern California auto sales drop! Dip from peak or warning signal?

Permanent link to this article: https://www.ocregister.com/2018/05/18/southern-california-housing-plans-must-grow-by-80-just-to-be-average/

Homebuying slows in Aliso Viejo, Dana Point, Laguna Niguel and San Clemente: 9 facts to know

Homebuying in Aliso Viejo, Dana Point, Laguna Niguel and San Clemente fell 6.6 percent in 2018’s first three months vs. 2017’s first quarter.

Real estate tracker CoreLogic found these nine trends in six ZIP codes in the southern edition of the Orange County Register’s The Current weekly, …

1. Purchases: Home sales in this period totaled 757 vs. 811 a year earlier, a decline of 6.6 percent in a year.

2. Who’s up: Prices increased in five of the six ZIPs as sales rose in two ZIPs.

3. Countywide: There was a $710,000 median selling price, up 6.4 percent in a year. Sales of 7,800 vs. 8,041 a year earlier, a decline of 3 percent in a year. Prices rose in 67 out of 83 Orange County ZIPs and sales were up in 33 ZIPs.

Here is how prices and sales moved at the community level …

4. Aliso Viejo 92656: $575,000 median, up 13.2 percent in a year. Price rank in Orange County: 63rd highest of 83. Sales of 167 vs. 208 a year earlier, a decline of 19.7 percent in a year.

5. Dana Point 92624: $810,000 median, down 20.8 percent in a year. Price rank? No. 25 of 83. Sales of 26 vs. 28 a year earlier, a decline of 7.1 percent in a year.

6. Dana Point 92629: $950,000 median, up 19.7 percent in a year. Price rank? No. 16 of 83. Sales of 96 vs. 89 a year earlier, a gain of 7.9 percent in a year.

7. Laguna Niguel 92677: $787,250 median, up 1.6 percent in a year. Price rank? No. 28 of 83. Sales of 246 vs. 264 a year earlier, a decline of 6.8 percent in a year.

8. San Clemente 92672: $952,250 median, up 6.2 percent in a year. Price rank? No. 14 of 83. Sales of 116 vs. 113 a year earlier, a gain of 2.7 percent in a year.

9. San Clemente 92673: $992,000 median, up 18.2 percent in a year. Price rank? No. 11 of 83. Sales of 106 vs. 109 a year earlier, a decline of 2.8 percent in a year.

DID YOU SEE?

California ranked as nation’s 5th fastest-growing economy

Southern California pay hits record highs as workers get more hours

California’s record low unemployment is far from perfect

Southern California homeownership on the rise, but still lags nation

California critic’s ultimate critique: He moved to Pennsylvania!

Southern California auto sales drop 9%: Dip from peak or warning signal?

Permanent link to this article: https://www.ocregister.com/2018/05/18/homebuying-slows-in-aliso-viejo-dana-point-laguna-niguel-and-san-clemente-9-facts-to-know/

California builders plan 30% more housing. That’s not enough!

California developers filed 30 percent more building permits already this year, but that’s not making much progress.

Permits statewide were filed to build 28,352 residential units across the state in the first quarter, the third-largest tally among the states, according to Census Bureau stats. Building permits are seen as a solid indicator of developers’ construction plans.

My trusty spreadsheet tells me this is a noteworthy jump. California permits were up 6,480 units vs. 2017’s first three months, the biggest gain in the U.S. And, FYI, California’s surge equaled one-third of total permitting increases nationwide.

Even when you consider California’s economic heft, the 30 percent jump in permits to start 2018 was the ninth-largest jump in the U.S. on a percentage basis. Permits nationwide grew 6.8 percent in the same period.

But let me temper this growth story with a reality check. The good news: California employers continue to hire briskly! The bad news: Bosses in the state are adding workers faster than California’s developers can build.

In the 12 months ended in March, federal job stats show 321,000 new jobs in California, No. 1 among the states. Even on a percentage basis, California’s 1.9 percent job growth ranked No. 10 nationally and topped U.S. job growth of 1.5 percent.

But the building speed and the hiring pace are a mismatch.

Ponder that California’s share of U.S. hiring in the past year was a noteworthy 15 percent. Then note that the state’s share of nationwide permitting was a relatively lackluster 9 percent.

Or look at the building gap this way, assuming California developers continue to file permits at their first-quarter pace for the rest of 2018: For every 2.8 California jobs created in the past year, there will be just one new housing unit in the works. The national pace was 1.8 new workers for each planned unit.

California ranked sixth-worst among the states when linking employment growth to residential construction plans. Rhode Island — at 6.3 jobs per permit — was the poorest performer, followed by Pennsylvania at four hires per unit; Michigan at 3.8; New York at 3.4; and Massachusetts at three per unit.

This hiring-to-building imbalance is why it’s likely that — until California bosses stop boosting their staffs (not a good thing) or homebuilding ramps up massively (unlikely) — the price of ownership and rental options will remain pricey for state residents.

DID YOU SEE?

California ranked as nation’s 5th fastest-growing economy

Southern California pay hits record highs as workers get more hours

California’s record low unemployment is far from perfect

Southern California homeownership on the rise, but still lags nation

California critic’s ultimate critique: He moved to Pennsylvania!

Southern California auto sales drop: Dip from peak or warning signal?

Permanent link to this article: https://www.ocregister.com/2018/05/17/california-housing-plans-jump-30-but-thats-not-enough/

Southern California inflation at a 10-year high. Blame housing, gas prices

Local inflation is racing higher at its quickest speed in nearly a decade, and you can blame pricier gasoline and housing for the wallop to the checkbook.

The Consumer Price Index for Los Angeles and Orange counties jumped at a 4 percent annual rate in the 12 months ended in April, up from a 2.7 percent rate a year earlier. This is the fastest local inflationary pace since 2008 and it’s well above the national inflation rate of 2.5 percent for April.

Two key factors boosting the L.A.-O.C. cost of living …

Gasoline: This index of L.A.-O.C. pump prices was up at an 18 percent yearly pace in April, the biggest jump since November 2011. Drivers are paying more this year due to surging crude oil price plus a new state gasoline tax.

Housing: The CPI’s measurement of local housing costs was rising at a 4.5 percent annual rate in April after jumping 4 percent in 2017 and 3.9 percent in 2016. Higher rents are clearly a challenge.

The last time the region’s overall inflation rate was soaring faster was in September 2008 at 4.5 percent a year. Soon after, financial markets cratered and the Great Recession began. Inflation was tamed for nearly a decade, averaging 1.3 percent a year for the region from 2009 to 2016. Local inflation was 2.8 percent last year.

Beginning this year, the region’s CPI yardstick was split into two. L.A.-O.C. gets a monthly reading. Riverside and San Bernardino counties now get their own CPI reading every other month. Since the Inland Empire index is new, no year-over-year data is available.

One trend that may modestly ease the inflationary pain is rising pay in the region, according to another government tally. In the 12 months ended in March, the average hourly wage paid by private employers rose by 4.1 percent in Los Angeles County; 3.7 percent in the Inland Empire; and 3.6 percent in Orange County.

DID YOU SEE?

California ranked as nation’s 5th fastest-growing economy

Southern California pay hits record highs as workers get more hours

California’s record low unemployment is far from perfect

Southern California homeownership on the rise, but still lags nation

California critic’s ultimate critique: He moved to Pennsylvania!

Southern California auto sales drop 9%: Dip from peak or warning signal?

Permanent link to this article: https://www.ocregister.com/2018/05/14/southern-california-inflation-at-a-10-year-high-blame-housing-gas-prices/