This article is confusing at is uses the terms “vacancy rates” and “empty homes” the wording is very murky if they are attempting to compare rental versus home ownership. Even AI doesn’t usually write like this.
this post was submitted on 30 Nov 2024
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Housing Bubble 2: Return of the Ugly
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it is faux new for LA, what do you expect journalism here?
they are muddying water on purpose as fake news generally do.
I assume this is a local Fox affiliate which is usually not the same as Fox News.
you aint wrong but how is this distinction relevant here?
does not fox la push the same owner narrative as the national cable channel?
The Fox affiliate in The SF Bay Area (KTVU 2) certainly does not push the same narrative as the cable channel Fox News. I assume that will be true for many other metro areas (like Los Angeles) where a large percentage of the voters are not conservative. If they did this, nobody would watch their local news, and possibly not watch the channel in general, which would make it not profitable to sell ads.
my understanding is that these local channels still do the owner's bidding they just do it in a way that local population will accept. there is a reason why murdoch owns different outlets. it is way more effective to segment the plebs and shill to them as subgroup.
politcal campaigns are known to do the same... where ads change based on the location and will conflict. example last elections ads in MI and PA re israel
They have the largest state population. Over 20% more than the next populous state, Texas. The fact they aren't first is a miracle all its own.
nice catch: Largest state has second largest "empty" homes lol
In 2020, California had*
The article and the report it referenced were written in March 2022. The report was using data from 2020:
All the data used to conduct this study comes from the U.S. Census Bureau’s 2020 American Community Survey with one-year experimental estimates.
Sure, but for how hot the market supposedly is, there shouldn't really be any. There's a growing body of evidence that landlords are "warehousing" or intentionally keeping homes off the market to keep prices high because they're making all their money in appreciation, not rent.
Only just now got a notification of your reply, but it shows as posted 5 days ago - weird.
Why do you think the housing market is “hot?” I haven’t seen anyone saying that the housing market is currently hot - rather the opposite, with buyers not buying due to interest rates and sellers not wanting to lower prices below where they were in 2022. Prices have finally dropped from where they were last year, but that’s not indicative of a hot market.
Zillow thinks that San Francisco is expected to have the second lowest growing home values in 2025 (second only to New Orleans), and Sacramento and San Jose are both in the top 10 as well, so I don’t think CA is performing any better than the best of the country. And in the rest of the country, according to realtor.com, last month was the slowest November since 2019; the number of houses for sale has grown for 13 straight months and is now the highest it’s been since December 2019.