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Housing affordability in California drops to 16-year low

Published Mon, 16 Dec 2024 10:00:50 GMT

Housing affordability in California hit a 16-year low in the second quarter of 2023, according to new figures released by the California Association of Realtors.The startling numbers come as interest rates continue to stagnate above 6% and home prices remain inflated due to a lack of inventory.The data show that fewer than one in five people, 16% to be exact, can afford to purchase a median-priced existing single-family home in the Golden State. Those second-quarter numbers are down from 19% in the first quarter of 2023.For comparison, in the first quarter of 2012, the percentage of home buyers who could purchase a median-priced single-family home in California was as high as 56%.Equally surprising, the CAR numbers indicated that a minimum income of $208,000 was needed to qualify to purchase a median-priced home, which costs around $830,000.And if you can qualify for the mortgage, you can expect monthly payments of around $5,200, assuming you put forth 20% for the standard down paym...

L.A. council member wants to ban businesses from going cash-free

Published Mon, 16 Dec 2024 10:00:50 GMT

While the days of wallets stuffed with dollar bills and pockets jingling with coins might be a distant memory for many of us, a Los Angeles City Council member wants to make sure cash doesn’t go extinct.At least not yet.Councilwoman Heather Hutt, District 10, who represents a wide swath of central L.A. from Baldwin Hills to Koreatown, introduced a motion Tuesday to ban cashless retail businesses in the city.“Cashless businesses create an economy in our City that is not inclusive and accessible for all people,” Hutt said in a statement. “There are many unbanked groups, including [minorities] and low-income communities, that rely on cash to pay for goods and services.”A 2022 Pew Research Center study found that roughly 40% of Americans go "cashless" each week – meaning none of their purchases involved physical dollars and cents. That’s up from 29% in 2018 and 24% in 2015.But there is a clear racial divide.The Pew study also found that roughly a quarter of Black adults (26%) and 21% of...

Disneyland's attendance and spending gains impacted by inflation, report says

Published Mon, 16 Dec 2024 10:00:50 GMT

The “Happiest Place on Earth” recently saw an increase in attendance and guest spending, thanks mainly to higher ticket prices, but these gains were impacted by inflation, according to the latest Disney quarterly report.Analysts found that higher attendance and visitor spending at the Disneyland Resort were largely offset by higher costs driven by inflation, the report said. New water play area to open at Disneyland Resort Tickets to Disneyland and Disney California Adventure increased by 8% in October 2022.  The new price of a one-day, one-park ticket can now range between $104 to $179, while one-day Park Hopper tickets now cost $244 per day.The cost of an annual pass, known as Magic Keys, also increased last year. The resort previously told media outlets that Magic Key prices increased by 16% across the four different Magic Key types last year. Regardless of the increased admission prices, guests still flocked to the Disneyland Resort to celebrate Disney 100, a celebration ...

Shooter sought after Hyde Park attack

Published Mon, 16 Dec 2024 10:00:50 GMT

A man was shot in Hyde Park Tuesday morning, and the Los Angeles Police Department is looking for the shooter.The man, 40, was shot in the 3600 block of Slauson Avenue at 11:22 a.m., according to LAPD Officer Podany.He was taken to a local hospital, according to Los Angeles Fire Department spokesman Brian Humphrey. His condition was unknown.Police believe the shooter is a Black man wearing a black shirt, and he was last seen headed west on Slauson Avenue. The events leading up to the shooting and a possible motive remain unknown, and no further details were available. Isabel Ochoa contributed to this report.

This music star is so popular that he’s playing two nights at Levi’s Stadium

Published Mon, 16 Dec 2024 10:00:50 GMT

Luke Combs has announced dates for his 2023 North American tour.And, gulp, it includes not just one, but two nights — May 17-18 — at mammoth Levi’s Stadium in Santa Clara.Yes, that’s the same amount of nights that Taylor Swift performed at Levi’s back in July. And it’s twice as many nights as either Beyonce or Ed Sheeran are playing at the Santa Clara venue on their individual headlining tours.Impressive.Actually, Combs is playing nothing but big stadiums on this upcoming road show — dubbed the Growin’ Up and Gettin’ Old Tour — and he’s doing two shows in pretty much every city he visits. (The one exception being his show at the Country Thunder Saskatchewan in Craven, Saskatchewan, Canada.)Tickets to the Levi’s dates go on sale to the general public at 10 a.m. Aug. 25, ticketmaser.com. Fans can also register for a presale at lukecombs.com.Tour dates:AUGUST 16Qudos Bank ArenaSydney, NSW, AustraliaAUGUST 17Qudos Bank ArenaSyd...

San Jose man is second pedestrian killed in two days on same stretch of Highway 101

Published Mon, 16 Dec 2024 10:00:50 GMT

A San Jose man was fatally struck by a hit-and-run driver on Highway 101 in San Martin, one day after another pedestrian died on the same stretch of road, the California Highway Patrol said.The crash was reported at 10:30 p.m. Thursday, Aug. 10, on southbound 101 south of San Martin Avenue. The man, whose name has not been released, had pulled his car over to the shoulder of the highway and gotten out, and was in a traffic lane when he was struck, the CHP report said.The vehicle that struck him continued driving.The man was pronounced dead at the scene.The CHP released no information on the hit-and-run vehicle and said the circumstances of the death remained under investigation.The previous day, around 12:30 p.m., a 36-year-old Riverside man was fatally struck on the shoulder of southbound 101 south of San Martin Avenue. He was standing next to his vehicle and resecuring cargo when a box truck driven by an Oakland man veered onto the shoulder and struck him.The truck driver, who was...

Prosecutors, defense spar over fate of Hunter Biden gun deal

Published Mon, 16 Dec 2024 10:00:50 GMT

By Lindsay Whitehurst | Associated PressWASHINGTON — A legal showdown over the derailed plea deal for Hunter Biden continued Tuesday as prosecutors asserted that an agreement on a gun charge is dead along with the rest of the deal as the case makes a major shift into a special counsel investigation.While the agreement that was supposed to have wrapped up the long-running investigation of President Joe Biden’s son largely unraveled during a contentious court hearing last month, prosecutors said the two sides had continued to negotiate until the defense rejected their final counterproposal the day before U.S. Attorney David Weiss asked to be named special counsel.Lawyers for Hunter Biden have argued that prosecutors reneged on an agreement on tax charges but said a separate agreement sparing him prosecution on a gun charge remains valid. The agreement on the gun charge also contains an immunity clause against federal prosecutions for some other potential crimes.Prosecutors denie...

A CA woman spent money that was left at her house. Then she was told she owed the Aryan Brotherhood a favor

Published Mon, 16 Dec 2024 10:00:50 GMT

FRESNO — In the fall of 2020, Amanda Gourley was given money to safeguard at her Fresno home, by her boyfriend’s Aryan Brotherhood-affiliated brother.She ended up spending the money, and that’s how — according to Gourley’s attorney — she ended up on a trip from California’s Central Valley to Montana, in a rental car full of methamphetamine. When the shipment was intercepted by federal authorities, Gourley found herself on a federal indictment alongside heavy hitters in the infamous white supremacist prison gang who were accused of murder.Gourley’s case ended on Monday, when U.S. District Judge Jennifer L. Thurston sentenced her to five years and three months in federal prison, giving her until October to turn herself in. She has been out of custody with pending charges for almost three years, and taken advantage of her freedom to seek drug addiction counseling, her attorney wrote.Federal prosecutors accused Gourley of associating with ...

Nima Momeni pleads not guilty in SF court appearance Tuesday

Published Mon, 16 Dec 2024 10:00:50 GMT

SAN FRANCISCO (KRON) -- Nima Momeni, the man accused of fatally stabbing Cash App founder Bob Lee, pleaded not guilty to murder in a San Francisco courtroom on Tuesday. Momeni, 38, was arrested several days after Lee was fatally stabbed in SF's Rincon Hill neighborhood back in April.Despite early speculation that Lee was a victim of random street violence, Lee and Momeni knew each other. However, the nature of the relationship is unclear.This is a developing story. Check back for updates.

Cava: Q2 Earnings Snapshot

Published Mon, 16 Dec 2024 10:00:50 GMT

WASHINGTON (AP) — WASHINGTON (AP) — Cava Group Inc. (CAVA) on Tuesday reported second-quarter profit of $6.5 million.The Washington-based company said it had profit of 21 cents per share.The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.The Mediterranean restaurant chain posted revenue of $172.9 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $163.2 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAVA at https://www.zacks.com/ap/CAVASource