After five months of flatsville, our local non-seasonally adjusted San Diego Case-Shiller Index took off in January, up 0.8% month-over-month! It was the highest increase of any metro area! We usually see the biggest pops in spring, so stay tuned.
Blitzy doesn’t have to worry about breaking the internet with these thoughts:
“Housing and home prices continue on a generally positive upward trend,” said David M. Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices.
The actions by the Federal Reserve raising the target for the Fed funds rate by a quarter of a percentage point is expected to add less than a quarter percentage point to mortgage rates in the near future, Blitzer said.
“Given the market’s current strength and the economy, the small increase in interest rates isn’t expected to dampen home buying. If we see three or four additional increases this year, rising mortgage rates could become concern,” he said.
San Diego Non-Seasonally-Adjusted CSI changes:
The highest reading of the San Diego NSA CSI was 250.34 in November, 2005.
The most-recent low point was 144.43 in April, 2009.
If Senate Bill SB 54 passes, and it looks very likely, So. Cal will continue it’s joyful run up for the next 10 years, imo!
A week after Republican lawmakers and county sheriffs railed against the public safety threat of what they dubbed the “sanctuary state” bill, that measure will come up for a key committee vote today with a significant change that addresses some of their concerns.
Senate Bill 54 originally would have instituted a sweeping prohibition on state and local law enforcement using their resources to assist federal authorities with immigration enforcement. Critics like Sen. Joel Anderson, R-Alpine, blasted the proposal for protecting “rapists, murderers, armed robbers, serial drunk drivers, people who endanger and hurt other in our communities” by allowing them back onto California streets.
But on Friday, Senate President Pro Tem Kevin de León, who authored SB 54, announced an amendment that would require state prisons and county jails to notify the FBI 60 days before releasing an undocumented immigrant with a violent felony conviction.
The change came with the endorsement of Assemblyman Jim Cooper, D-Elk Grove, as a principal co-author of the bill, a boost for its prospects. Cooper is a barometer at the Capitol for where law enforcement stands on an issue.
In a statement, Cooper said he worked closely with de León’s office on the amendment “to ensure that we are not jeopardizing public safety, while at the same time, ensuring that the rights of all Californians regardless of their immigration status are protected and continue to be protected.”