By Kathleen M. Howley Nov. 3 (Bloomberg) — Kajal and Vishal Dharod paid $559,000 in 2006 for a new four-bedroom house built in Rancho Cucamonga, California. Today, it’s worth about $360,000. “We don’t know how we can come back from a loss like that,” said Kajal Dharod, 29, a first-time homeowner with a $4,200-a-month mortgage. “Buying the house was a mistake.” American homeownership, once considered a path to wealth, is Read More ...
Luxury condo developers hope focus on high-end amenities will still draw buyers in down market. By DANIEL MILLER Los Angeles Business Journal Staff One has a picture window 40 feet long overlooking the Los Angeles Country Club. Another has kitchens described as “German-designed works of art.” A third: top-of-the-line “natural” wool carpeting – in its closets. Add features such as private elevator foyers, wine cellars and formal gardens typical of Read More ...
Standard & Poor’s/Case-Shiller index rises 1% in August from July in its third consecutive monthly gain. Southern California cities, led by L.A. and San Diego, show notable increases. By Alejandro Lazo The nation’s biggest cities are posting steady gains in home prices, a closely followed index showed Tuesday, adding fresh evidence that the U.S. housing market is stirring to life. But economists are divided over whether the recent improvement is Read More ...
