Good afternoon Bay Area! Hey it's Tony Leong again, I'm an Executive Producer at NBC Bay Area. Let's get to the housing news that has caught my eye this week and you'll be wanting to share.
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Higher and higher
The rate hike train isn’t stopping. For the 4th straight time, the Federal Reserve is raising interest rates to slow down the piping hot economy. So be prepared to pay more if you carry debt or you’re trying to buy a house. Small businesses say inflation is still a problem and raising interest rates is the Feds only way to slow it down. Watch the full impact of another interest rate hike.
That also means mortgage rates are hitting a 20-year high. With rising rates and lower tech stock prices, many home buyers and sellers are seeing challenges. Scott Budman explains why dropping home prices might not be enough to get a deal closed.
The latest home numbers are out, and while September was slightly "softer" than months past, it's little relief. Check out our new infographic on median home prices.
Follow NBC Bay Area on Instagram and share our latest infographic on home prices.
Housing and elections
🗳️ November 8th is just around the corner and there are so many housing measures on the ballot. Digital journalist Jonathan Bloom has spent the last month looking into how the midterm election could affect the Bay Area’s housing crisis. His 5-minute video is worth a watch before you fill out your ballot.
There are also seven statewide ballot propositions that voters will have to decide on. NBC Bay Area political analyst Larry Gerston navigates us through this maze. Our comprehensive coverage doesn’t stop there, head to our Decision 2022 page for in-depth analysis on all the races. And on Election night, we're bringing you a special Decision 2022 newscast. On your Roku, go to our live streaming channel 133 to watch our coverage starting at 8 p.m. You can also find it on your Samsung TV Plus app, we’re at channel 1035.
Something to smile about
Add real estate investor to Steph Curry’s resume. Steph and Ayesha sold another one of their Bay Area properties for a profit. The couple bought a Redwood City home on Buena Vista Avenue in February 2021 for $2.4 million. See how much they just sold it for.
Free rent at Stanford? A pretend Stanford student lived in the dorms for 10 months! Apparently since December, the man stayed in at least 5 dorms and was cited several times. Campus officers finally found him last week and removed him from campus. Learn what the school is doing to prevent it again.
See a listing that's too good to be true? Tell us about it by sending @NBCBayArea a direct message on Twitter or Instagram. You can also send us a message on Facebook.
By the numbers
Our NBC Bay Area business and tech reporter Scott Budman is always keeping a close eye on the latest housing stats. Be sure to follow him on Twitter @ScottBudman for more.
Halloween with Harry Potter
| Halloween might be over, but I don’t care. I can’t stop watching this video on a Harry Potter-themed haunted house in San Jose. Maybe it’ll inspire you to create your own slice of Hogwarts next year. See what it looks like here. |
Investigative series: Overpriced, Overwhelmed, Over It!
Renters are shocked they are paying market rate for apartments built with taxpayer-backed loans meant for affordable rentals. The Investigative Unit goes back in time to explain how this all went down and the solutions the federal government is working on to prevent it from happening again. In episode 4 of our digital-exclusive investigative series, “Overpriced, Overwhelmed, Over It!”, we look into solutions for the Golden State’s housing Crisis.
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