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Real estate, luxury homes and commercial properties.

The Los Angeles Times is the largest metropolitan daily newspaper in the country, with more than 40 million unique latimes.com visitors monthly, Sunday print readership of 1.6 million and a combined print and online local weekly audience of 4.4 million. The Pulitzer Prize-winning Times has been covering Southern California for more than 140 years.

Los Angeles Times’ businesses and affiliates also include The Envelope, Hot Property, Times Community News and Los Angeles Times en Español. The Times also owns California Community News, LLC.

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292 Posts
L.A. to vote on 'mansion tax' to raise money for housing. Bass, Caruso don't support it

Rep. Karen Bass and Rick Caruso have each put forward expensive plans for expanding interim and permanent housing for homeless people, but the Los Angeles mayoral candidates have offered few specifics about how they would pay for them.

One possible way to fund these plans is a ballot measure going before city voters in November. Known as Measure ULA, or “United to House L.A.,” the “mansion tax” would impose an additional tax on commercial and residential property sales that exceed $5 million.

... more
L.A. to vote on 'mansion tax' to raise money for housing. Bass, Caruso don't support it
A $50,000 electric bill? The cost of cooling L.A.’s biggest houses in a heat wave
A/C Electric bills vary wildly depending on the size of your home, but according to Energy Sage, the average electricity user in L.A. spends $269 per month on electricity. The average electric bill for the house was $20,000 for the home was $25,000 a year. In June, California residents paid an average of 25.4-over-year. As electricity rates get higher and bills get pricier, more luxury homes are offering alternatives. In Bradbury, a $13.58-million listing for a 16,000-square-foot mega-mansion in Bradbury and... more
A $50,000 electric bill? The cost of cooling L.A.’s biggest houses in a heat wave
Expansion set for old Hollywood studio amid surging demand for L.A. soundstages
A historic Hollywood studio site is poised for a $600-million comeback in the new era of streaming entertainment. The owner of Television Center, once home to Technicolor’s filmmaking laboratory and Metro Pictures Corp., plans to turn the dated complex into a bigger, more modern studio. The surge in demand is a welcome development. The city and state leaders have been trying for years to lure filmmakers back from competing states and countries with various financial incentives. The state legislators authorized... more
Expansion set for old Hollywood studio amid surging demand for L.A. soundstages
L.A. moves closer to ending COVID-19 eviction protections
A Los Angeles City Council committee advanced a measure to repeal the rules at the end of January. Under the plan, L.A. landlords will once again be able to evict tenants for unpaid rent and other reasons even if tenants have been affected by COVID-19. The city’s current rules have prohibited such evictions since March 2020. The full City Council still needs to vote on the plan at an upcoming meeting before it takes effect. The council still need to vote for the plan. The decision will take place. The City... more
L.A. moves closer to ending COVID-19 eviction protections
In groundbreaking plan, California allows affordable housing on some commercial properties
Gov. Gavin Newsom signed two major bills on Wednesday to convert underutilized and vacant commercial buildings into housing. Both bills guarantee union-scale wages and promise an expedited construction process. Experts say the impact on California's housing supply could be significant. The new law could produce the new Law could be... for the new year. ‘targets, or more than 2.5 million new houses, including hundreds of thousands of affordable units. The new Law, could be in the next year. For more than two... more
In groundbreaking plan, California allows affordable housing on some commercial properties
Lil Wayne wants $29.5 million for Miami Beach mansion

Lil Wayne settled down in Hidden Hills last year, dropping $15.4 million on a modern farmhouse on three acres. Now the rapper is shopping around his home on the other side of the country, listing a Miami Beach mansion for $29.5 million.

His West Coast home has a bit more space, but the East Coast home offers a prime location. It spans half an acre on Allison Island, a 35-acre island filled with luxury homes on Biscayne Bay. To take advantage of the waterfront setting, there’s tropical backyard with

... more
Lil Wayne wants $29.5 million for Miami Beach mansion
UC housing crisis forces students into multiple jobs to pay rent, sleeping bags and stress
"For a lot of students and myself, not having secure housing creates a lot of anxiety and stress," said Chin, a third-year student majoring in environmental studies. About 9,400 students systemwide were denied university housing this fall because of shortages - and some campuses are back to squeezing three students in a dorm room as a stopgap. "UC is the great equalizer. We have to get students housing and food so they can do well." Leib added that UC should offer unhoused students hotel rooms if necessary -... more
UC housing crisis forces students into multiple jobs to pay rent, sleeping bags and stress
California bans mandated parking near transit to fight high housing prices, climate change
Citing the need to address California's twin crises of housing affordability and climate change, Gov. Gavin Newsom signed a bill that bars local governments from mandating parking spaces as part of most development near transit stops. Cities can impose parking for hotel developments, and developers can still build parking spaces for any type of project if they choose to. Housing developers say it can cost tens of thousands of dollars for each parking stall, and parking requirements have forced them to kill projects... more
California bans mandated parking near transit to fight high housing prices, climate change
Former Ram Jared Goff passes Hidden Hills home for $6.4 million
NFL quarterback Jared Goff spent five seasons with the Rams and led the team to a Super Bowl appearance before he was traded to the Detroit Lions in 2021. The property has plenty of space at 1.4 acres and takes advantage with a main house, guesthouse and entertainer’s backyard complete with a swimming pool, spa, covered patio and grilling area. The ranch-style home spans a single story and opens to multiple lounges with sweeping views of the surrounding hills. In addition to four bedrooms and four bathrooms.... more
Former Ram Jared Goff passes Hidden Hills home for $6.4 million
With interest rates surging, what does a starter home look like in Southern California?
As more buyers choose alternatives, condo price increases are outpacing single-family home price increases. The Times has published a ‘What Money Buys’ series for the last five years that highlights homes on the market at certain price points in different neighborhoods. A 2019 piece featured homes for $800,000 in a handful of L.A. neighborhoods including Jefferson Park and Cypress Park. Both areas had a five-bedroom home. The Jefferson Park home ended up selling for $850,000. Now, Redfin estimates that the... more
With interest rates surging, what does a starter home look like in Southern California?
L.A. to reopen Section 8 housing waiting list for first time in five years. Here's what you need to know
The last time Los Angeles opened its Section 8 waiting list was in 2017 — and nearly 188,000 people applied for only 20,000 available vouchers. The federal government currently funds more than 2 million Section 8 housing choice vouchers for low-income tenants. There are 30,000 vouchers available, but the city’s housing authority is anticipating more than 365,000 new applicants - giving hopefuls a one-in-10 chance of being selected. Applicants will be selected. They will have 180 days to be chosen. The online... more
L.A. to reopen Section 8 housing waiting list for first time in five years. Here's what you need to know
Sandra Bullock asks $6 million for Southern California ranch
The actress unloaded a Hollywood Hills home in 2018 and a West Hollywood condo earlier this year. She put a beach house up for rent at $30,000 per month in Malibu. Her latest listing comes in the hills outside San Diego, where she’s shopping around a 91-acre ranch for $6 million. The compound also includes a three-bedroom guesthouse, gazebo, workshop, spa and chicken coop. Her scores of film credits also include ‘Miss Congeniality” and “The Lost City’.
Sandra Bullock asks $6 million for Southern California ranch
With mortgage rates above 6%, here's what the Fed's latest hike could mean
The rate for a 30-year, fixed-interest mortgage has doubled in nine months, topping 6% last week for the first time since George W. Bush’s presidency. The Fed is trying to break the economy’S inflationary fever without pushing the country into a recession. The usual indicators of economic health are confusingfully jumbled, and the usual indicator of economic growth is confusinglyjumbled. Inventor says. The market has concluded that the Fed is going to have to do more.
With mortgage rates above 6%, here's what the Fed's latest hike could mean
Housing slowdown: Southern California home prices flat in August
The six-county region’s median held steady at $740,000, the fourth consecutive month prices didn’t increase. Sales of new and existing houses, condos and townhomes dropped 28.3% from a year earlier. The housing market has slowed sharply in recent months, a consequence of rising mortgage rates that priced many would-be buyers out of the market. Rates have more than doubled in the last year. The steep rise in borrowing costs adds more than $1,000. A steep increase in borrowing Costs adds more.
Housing slowdown: Southern California home prices flat in August
Luxury hotel proposal pits celebrities against celebrities in Benedict Canyon
The Beverly Hills-adjacent site of the upscale hotel project - in a neighborhood where home prices range from $3 million to $100 million - is the 33-acre former home of billionaire businessman Kirk Kerkorian. On one side of the feud is Gary Safady, a real estate developer and movie producer, who is proposing a hotel project with 58 guest rooms and suites, plus eight private residences, a 10,000-square-foot spa, a gym, a private theater and an eight-seat sushi bar, along with a restaurant. Among the project supporters,... more
Luxury hotel proposal pits celebrities against celebrities in Benedict Canyon
Surfing in the California desert? Developer’s plan sparks outrage over water use, drought
A group of residents has organized to fight the proposed wave pool. They argue the area can’t afford to have millions of gallons of precious water. The City Council is expected to vote on the proposal. The wave basin would be the second in the U.S. to use technology from the Kelly Slater Wave Company. It would generate waves up to 6 feet high. There are about 120 golf courses in the Coachella Valley. The Coacheilla Valley Water District endorsed the development.
Surfing in the California desert? Developer’s plan sparks outrage over water use, drought
Westfield Santa Anita buyer is Southern California real estate investor Wen Shan Chang
The new owner of the former Westfield Santa Anita mall is Wen Shan Chang, a real estate investor from nearby Bradbury. Unibail-Rodamco-Westfield announced last month that it had sold the large indoor shopping center in Arcadia for $537.5 million in one of the most expensive mall sales in the United States. The property has been renamed the Shops at Santa Anita. Public documents say Chang, 71, was born. Chang was born in Taiwan and owns an estate in Bradbury. All 24 U.S. malls are to be sold by 2023.
Westfield Santa Anita buyer is Southern California real estate investor Wen Shan Chang
Buying a home? Get ready for a 6% mortgage
For the first time since 2008, a widely watched survey shows the average interest rate on a 30-year fixed home loan is above 6%, the latest in a series of increases that has sharply slowed the housing market. A year ago, the average rate on a 30-year fixed mortgage was 2.86%, but rates have surged this year because of inflation and the Federal Reserve's efforts to fight it. The average rate on a 15-year fixed mortgage, popular with refinancers, rose to 5.21%, up from 5.16% the previous week and 2.12% a year... more
Buying a home? Get ready for a 6% mortgage
Fanatics CEO Michael Rubin spends record $70 million on Ronald Reagan’s former home
Hollywood Hills just saw its priciest home sale ever. In the Bird Streets, a property once owned by Ronald Reagan has traded hands for $70 million - by far the most ever paid for a home in the neighborhood. Aquilini has been on a hot streak in Hollywood Hills over the last few years; he set the neighborhood's previous price record in 2020 when he sold a spec mansion to Jeffrey Gou, film producer and heir to the Foxconn fortune, for $42.5 million. Previous listings reveal the property was once home to Ronald... more
Fanatics CEO Michael Rubin spends record $70 million on Ronald Reagan’s former home
Los Angeles County commits to ending eviction moratorium by year's end
Los Angeles County will move forward with a plan to lift its pandemic-era eviction moratorium and other renter protections by the end of the year, according to a 3-2 vote Tuesday by the Board of Supervisors. Officials will "Perform robust outreach" to make sure that tenants and landlords in the county's 88 cities are prepared for the end of the renter protections, said Supervisor Kathryn Barger, who introduced the motion. "Given the resources we put into play, the financial resources to help both tenants and... more
Los Angeles County commits to ending eviction moratorium by year's end
Goodbye, water cooler; hello, pool: More Los Angeles offices are becoming apartments
Some neighborhoods such as downtown L.A. and Koreatown have concentrations of tall, aging office towers suitable for housing. So far, Jamison has converted seven office buildings to residential use with a combined total of more than 1,200 units. The company has found room in former offices to add co-working spaces, community rooms for recreation and good-sized theaters. The company will keep converting offices. “We’re maybe halfway through” converting offices to apartments, Jaime Lee said.
Goodbye, water cooler; hello, pool: More Los Angeles offices are becoming apartments
Lakers star Russell Westbrook lists L.A. mansion for $30 million
Lakers star Russell Westbrook bought the house newly built for $19.75 million in 2018. The property was formerly owned by Anthony LaPaglia, an Australian actor who starred in the TV drama “Without a Trace’s Without a Trace. The estate spans half an acre in Brentwood Park, an affluent enclave where celebrities such as Judd Apatow and Al Michaels have owned homes. The custom residence covers more than 13,000 square feet. Beamed ceilings and built-ins touch up the living room.
Lakers star Russell Westbrook lists L.A. mansion for $30 million
A wealthy O.C. insider fenced off public land in Newport Beach's back bay, sparking battle
"It's a big red wave coming," she said instead. Last month, the California Coastal Commission weighed in on the debate, saying the county needs to remove the fence so the public can access the space. Former county Supervisor Michelle Steel's staff spent more than a year steering Johns through the labyrinthine land-purchase process, helping him find an appraiser who set the value of the land at $13,000 - an amount some residents say is below market value. The deal to sell the land, which was declared in public... more
A wealthy O.C. insider fenced off public land in Newport Beach's back bay, sparking battle
Moneta, Tropico, Lordsburg — where did L.A.’s phantom towns vanish to?
The county of Los Angeles embraces more than 4,000 square miles. Within those miles are now 88 incorporated cities, Los Angeles chief among them. There were once at least 100 towns laid out here, all ready to welcome the big wave of settlers from points east who created the region’s big real estate boom. Some were actual burgs that grew and dwindled, were annexed. Others were peddled almost as cynically as Florida swamplands.
Moneta, Tropico, Lordsburg — where did L.A.’s phantom towns vanish to?
Quest Nutrition co-founder eyes $40 million for sale of biggest house in Hollywood Hills
The Hollywood Hills aren't exactly known for space. While other luxury communities, such as Beverly Hills and Bel-Air, lure buyers with multiacre lots, the homes of the Hollywood Hills are typically tucked on smaller plots and are less spacious. According to the Multiple Listing Service, it's the largest home ever sold in the Hollywood Hills, setting the record when it last traded hands, in 2019, for $35.5 million. Due to changes in construction permits, a house of this scale will never be built in the Hollywood... more
Quest Nutrition co-founder eyes $40 million for sale of biggest house in Hollywood Hills
Ken Griffin buys Miami compound for $106.9 million, a new record
Last year, he set the previous all-time high when he dropped $75 million on a home on Star Island, a man-made island in Biscayne Bay. This one sits a few miles away in Coconut Grove, an affluent enclave where celebrities such as LeBron James and Sylvester Stallone have owned homes. The seller is Adrienne Arsht, a businesswoman and philanthropist. She made a hefty profit. She paid $4 million for the property in 1996. The compound includes two homes. It boasts five bedrooms, five bathrooms, a tennis court and... more
Ken Griffin buys Miami compound for $106.9 million, a new record
Danny DeVito and Rhea Perlman want $1.55 million for Mt. Washington perch
Danny DeVito and Rhea Perlman bought their Mount Washington home in 2018 for $1.3 million. The pair, who married in 1982 but have since separated, bought the property in 2018. The loft-like residence takes in sweeping views of the city and canyon through walls of windows and multiple decks. The property includes a second parcel, and the pair combine for roughly half an acre. Paul Lester and Aileen Comora of the Agency hold the listing. The property is listed for about half a acre. The couple has a third parcel.... more
Danny DeVito and Rhea Perlman want $1.55 million for Mt. Washington perch
Denim mogul Maurice Marciano drops $37.5 million on Beverly Hills mansion
Maurice Marciano, the fashion designer best known for co-founding clothing brand Guess Inc. with his brothers in the 1980s, just shelled out $37.5 million for a newly remodeled mansion in Beverly Hills. It's less than a mile away from his old place, a Paul McClean-designed home in Trousdale Estates that he’s currently shopping around for $27.5m. The seller is the seller. The sale officially closed at $35. 5 bedrooms and eight bathrooms. Five bedrooms and 8 bathrooms are spread across 9,300 square feet. The... more
Denim mogul Maurice Marciano drops $37.5 million on Beverly Hills mansion
Millennials can't afford to pay rent in these California cities because of the renter wage gap
L.A. has the biggest rent wage gap for millennials, followed by San Diego in third place, San Francisco in fifth, San Jose in seventh, Riverside in eighth and Sacramento in 12th. The median rent for a one-bedroom was about $1,814; about 35.6% of millennials in the city were renters. San Diego also had a lofty millennial renter wage gap at minus 39.9%. The average cost of the one- bedroom. The Average wage millennials will need to have to make was $41,720. The renter median wage was $43,000. “We have a massive... more
Millennials can't afford to pay rent in these California cities because of the renter wage gap
California voters to decide on repeal of anti-public housing measure in 2024
Article 34, which passed in 1950, stymied low-income housing construction in California for decades and continues today to add to the cost and uncertainty of building affordable housing. Those behind repealing Article 34 argue it’s a racist relic that needs repeal. The push to repeal is not a sure success. It will be the fourth time lawmakers have tried to remove or weaken the provision. The most recent attempt to remove the provision was in 1993 in 1993. The last attempt toremove the provision in 1993 was... more
California voters to decide on repeal of anti-public housing measure in 2024
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