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☆ 20 metro areas expected to see the fastest-appreciating real estate in 2024 and 5 most at risk of declining. Plus, what will happen to mortgage rates, according to a property data firm.
▼ + stars: | 2024-01-15 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Tight inventory, combined with pent-up demand, kept prices in an uptrend last year despite 23-year-high mortgage rates, according to Selma Hepp, CoreLogic's chief economist. AdvertisementCooling mortgage rates and newly built homes will help bring more houses on the market but won't create enough inventory to outpace demand, wrote Hepp. She isn't expecting much change to mortgage rates but said that they will likely be slightly higher from January to February, in line with historical trends that precede the busy spring sales season. If inflation remains tamed and trending downward, and the Federal Reserve begins cutting rates as a response, declining mortgage rates would follow, she added in an email to Business Insider. Metro area Forecasted YOY % change Redding CA Metropolitan Statistical Area 7.30% Santa Maria-Santa Barbara CA Metropolitan Statistical Area 6.81% Bremerton-Silverdale WA Metropolitan Statistical Area 6.51% Coeur d'Alene ID Metropolitan Statistical Area 6.49% Fairbanks AK Metropolitan Statistical Area 6.38% Santa Rosa CA Metropolitan Statistical Area 6.37% Corvallis OR Metropolitan Statistical Area 6.36% Merced CA Metropolitan Statistical Area 6.32% Bend-Redmond OR Metropolitan Statistical Area 6.29% Mount Vernon-Anacortes WA Metropolitan Statistical Area 6.20% Grand Junction CO Metropolitan Statistical Area 6.09% Longview WA Metropolitan Statistical Area 6.07% Pocatello ID Metropolitan Statistical Area 6.00% Casper WY Metropolitan Statistical Area 5.99% Walla Walla WA Metropolitan Statistical Area 5.88% Lewiston ID-WA Metropolitan Statistical Area 5.87% Santa Cruz-Watsonville CA Metropolitan Statistical Area 5.81% Prescott AZ Metropolitan Statistical Area 5.70% Lakeland-Winter Haven FL Metropolitan Statistical Area 5.67% Kahului-Wailuku-Lahaina HI Metropolitan Statistical Area 5.63%The list below is CoreLogic's forecast for the five metro areas that are at the highest risk of price declines.

Persons: —, Selma Hepp, it's, Hepp, isn't Organizations: Service, Business, Federal Reserve, Redding, Santa Barbara, Metropolitan, Silverdale WA Metropolitan, Coeur, Fairbanks AK Metropolitan Statistical, Santa, Corvallis, Longview, Longview WA Metropolitan, Casper, Casper WY Metropolitan, Walla Walla WA Metropolitan, Lewiston, Prescott, Prescott AZ Metropolitan, Lakeland Locations: Metro, Maria, Santa, Bremerton, Silverdale WA, Coeur d'Alene, Santa Rosa, Merced CA, Redmond, Vernon, Anacortes WA, Longview WA, Pocatello, Casper WY, Walla Walla WA, Santa Cruz, Watsonville CA, Prescott AZ, Haven, Lahaina HI

SYDNEY, Nov 1 (Reuters) - Residents in three areas in Australia's northern Queensland state were ordered to evacuate their homes on Wednesday, as bushfires burned out of control. People in two adjacent areas, near the town of Dalveen, were on Wednesday ordered to evacuate immediately. AAP Image/Darren England via REUTERS Acquire Licensing Rights"Every Australian's heart goes out to the people... who are being impacted once again by these bushfires," Australian Treasurer Jim Chalmers, whose electorate is in the state, told a news conference on Wednesday. "It was a pretty horrifying experience," NSW resident Michelle Balint told state broadcaster ABC on Wednesday, recounting a wall of flames racing across the family's land. Authorities on Wednesday imposed a third evacuation warning in the far north of the state, near Watsonville.

Persons: Darren England, Jim Chalmers, Michelle Balint, Alasdair Pal, Gerry Doyle Organizations: SYDNEY, Firefighters, REUTERS Acquire, NSW, ABC, Authorities, Stefica Bikes, Thomson Locations: Australia's, Queensland, Australia, New Zealand, Dalveen, Wallangarra, New South Wales, NSW, Watsonville, Sydney

☆ Her son said his stepdad was sexually abusive. A judge gave the stepdad custody anyway. Then she found the photographs.
▼ + stars: | 2023-05-18 | by ( Olivia Gentile | ) www.businessinsider.com time to read: +58 min

Robert confronted Winenger with the allegations that November, and within weeks Winenger denied the claims in family court. In a family court hearing in Vista, California, on October 28, 2021, Commissioner Patti Ratekin chastised Jill Montes for allegedly alienating her kids from her ex-husband. From a list provided by the Delaware Family Court, Kelly chose a psychologist, William Northey. Their father cited the report in asking a Delaware family court judge to order the boys to change schools. Family Court of the State of Delaware, New Castle CountyCiting the email and a subsequent report, Michael pressed Ostroski to order the transfer.

Persons: he'd, Robert, stepdad, Thomas Winenger, Winenger, Robert's, Jill Montes, Montes, Patti Ratekin, she'd, Ratekin, Richard Gardner, Gardner, Lynn Steinberg, she's, Maya, shrieks, Joan Meier, They'd, —, Meier, Tom Brenner, Paige, Maggie Shannon, Claire, Eden, Weeks, Hester Prynne, Mitra Sarkhosh, Sarkhosh, San Diego Robert, Tom Winenger, Tamatha Clemens, Miguel Alvarez, Alvarez, overreact, Alvarez didn't, Bridges, Janell Ostroski, Linda Gottlieb, Ostroski, Michael D, Ashton, Alfield Reeves, Michael, Kelly D, Kelly, who've, Randy Rand, Chris, Rand, he's, Rand isn't, Jane Shatz of, Joann Murphey, Murphey, Steinberg, Ally Toyos, Kit R, Toyos, Emily, Richard Warshak, Elizabeth Loftus, Harvey Weinstein's, Loftus, Hannah Rodriguez, Linda Gottlieb's, Gottlieb, Rodriguez, Yvonne Parnell, Brian Ludmer, Ludmer, Parnell, aren't, Daniel Barrozo, Mom, Jean Mercer, Mercer, who'd, Michael Saini, Saini, Hannah Yoon, — Ashton, Judge Ostroski, William Northey, Northey, O, Addie Asay, mistreating Ashton, Rachel Brandenburg, Brandenburg, I've, Michael's, Gardner's, Gardner dosed, Dr, Paul Fink, Fink, Warshak, William Bernet, Patrick Clancy, doesn't, She'd, Brian Fitzpatrick, Sen, Susan Rubio, Meier's, Rebecca Connolly, didn't, Connolly, Heidi Simonson, Rubio, Theresa Manzella Organizations: Investigations, San, Business, Child Welfare, of, American Psychiatric Association, World Health Organization, American Professional Society, George Washington University, Violence Law, George Washington University Law School, Columbia University, PAS, Sarkhosh, San Diego County Sheriff's Department, California Health, Welfare Agency, Psychology, Bridges, Texas, Roane, Stockton University, University of Toronto, Families, Delaware Family Court, Family, Delaware Family, Association of Family, Conciliation, Newsday, University of Texas Southwestern Medical Center, HarperCollins, Family Bridges, Vanderbilt University, Disorders, The Justice Department, WHO, of Social Welfare, Family Law, Winenger, Montes, Superior Locations: San Diego County, Vista , California, of California, Family Bridges, United States, Santa Cruz , California, Sacramento, Los Angeles, San Diego, toddlerhood, Ratekin, San, California, Eden, New Castle County , Delaware, New York, Ashton, Delaware, Jane Shatz of California, Seattle, Southern California, Texas, Kansas, Toyos, Bozeman , Montana, Family, Tampa , Florida, New, Hudson Valley, Chino , California, Wilmington , Delaware, of Delaware, New Castle County, Denver, Washington, Pennsylvania, Susan Rubio of Los Angeles County, statehouses, Watsonville , California, Santa Cruz, Michigan , Kansas, Utah, Colorado, Montana

☆ A hidden time bomb? A 'Big Short' investor sees financial disaster brewing in housing markets
▼ + stars: | 2023-04-06 | by ( Sam Meredith | ) www.cnbc.com time to read: +7 min

Josh Edelson | Afp | Getty ImagesMore than a decade after a U.S. mortgage meltdown threatened to destroy the international financial system, a "Big Short" investor once again sees financial disaster brewing in the real estate market. Now, Burt believes an overlooked climate risk could see history repeating itself. U.S. housing market overvalued? watch now"The biggest reason why it matters from our perspective is that climate risk isn't being priced into the housing market," Jeremy Porter, head of climate implications at First Street Foundation, told CNBC. 'A humanitarian crisis'Far from a domestic issue, Burt stressed the climate risks associated with the U.S. housing market posed a major problem for countries worldwide.

☆ Meet Cloud Apartments, a startup that promises lower-cost living in factory-made units thanks to backing from a 25-year VC veteran
▼ + stars: | 2023-01-09 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +3 min

Cloud Apartments plans to build at five sites in the Bay Area, including in San Jose and Berkeley. A 25-year venture-capital veteran just led a $3 million funding round for Cloud Apartments. Factories tooled to produce modular apartment units can make this possible. In 2021, against a backdrop of skyrocketing rents, Wong founded Cloud Apartments, a rental development company that uses modular-construction processes more often associated with single-family housing. A rendering of a Cloud Apartments building.

Gavin Newsom declared a state of emergency Wednesday as a powerful storm expected to bring heavy rain, snow and flooding began its potentially dangerous onslaught. Mandatory evacuation orders were in effect for several cities in Northern California, including Richmond in the Bay Area and Watsonville in Santa Cruz County. Several communities experiencing some of the biggest downpours were still cleaning up from flooding caused by a storm over the weekend. While the precipitation appears out-of-character for the drought-stricken state, California would normally expect to see this type of rainfall during an average winter, experts said. April 1 is a typical high point for snowpack in California, where snow melt feeds reservoirs in May and June.

☆ California braces for powerful atmospheric river storm
▼ + stars: | 2023-01-04 | by ( Emma Newburger | ) www.cnbc.com time to read: +1 min

An aerial view shows the damage after rainstorms caused a levee to break, flooding Sacramento County roads near Wilton, California, U.S., January 1, 2023. Another atmospheric river storm is threatening California with flooding, landslides, and power outages on Wednesday as millions of residents recover from several destructive storms, one of which caused a levee breach this weekend. Flood watches are in effect across Central and Northern California, where the ground has become more saturated and vulnerable to flooding and rapid runoff. San Mateo County, located south of San Francisco, declared a local state of emergency and activated its emergency operations center. In south Sacramento County, responders are attempting to repair part of a 34 mile levee system along the Cosumnes River, which protects land made up mostly of vineyards and cattle ranches, before the storm is set to arrive on Wednesday.

☆ I'm a software engineer who ditched the Bay Area for an up-and-coming tech hub. I pay more in rent, but I still don't regret breaking up with Silicon Valley.
▼ + stars: | 2022-09-30 | by ( Charlotte Lytton | ) www.businessinsider.com time to read: +5 min

She moved away from Silicon Valley for Santa Cruz and then Sacramento. But during Covid, students leaving Santa Cruz meant we could afford to rent there again with our combined salaries, so we moved back. I once saw graffiti on a trash can down in WestCliff that said 'Silicon Valley ppl go home'. I do wonder if that's the reason it's been hard to make firm friends in Sacramento's tech community. I'm hopeful this will improve, and ultimately, the splitting up of Silicon Valley is an amazing thing.

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