The average cost to rent an apartment in Fresno went up since March, putting even more financial pressure on cash-strapped residents during a pandemic. It’s a double whammy for tens of thousands of overwhelmed renters who lost work in the last six months and are balancing housing costs with cuts to household income.
Real estate experts around the Bay Area knew the region’s red-hot housing market was due for a cool down, but few expected the deep freeze brought on by the coronavirus pandemic. Matt Schwartz, president and CEO of the California Housing Partnership: “People who were previously not in need of assistance are now going to need it. People who previously needed some Read More
California already faced a shortage of more than 1 million homes for low-income families before the novel coronavirus hit. And now many advocates, economists and politicians say the pandemic is only going to make the situation worse. Major job losses, particularly in low-wage restaurant and hospitality sectors, and what will probably be severely depressed tax revenues for California and its cities, Read More
In California, the homelessness capital of the nation, affordable-housing developers have deluged the state with far more requests for tax-exempt bond money than the government can give, leaving some projects on hold. But a private-equity firm’s plan to build a passenger train to Las Vegas won’t have to wait.