About Town – TUESDAY, 7/2/24
If you think the local housing market is bad, a national real estate data analytics firm has put some numbers on it. A recently-published report says we live in the “riskiest” housing market in the nation. Wow! “California has 6 of 10 'most vulnerable' housing markets in the U.S., but San Joaquin County is the nation's riskiest of the 590,” according to ATTOM Data Solutions. It says California's high-risk counties are less-populated regions to the north (like where we live). “Their prices may have been pushed out of economic balance by remote workers seeking cheaper homes to live in away from the Bay Area job hubs,” adding, “Local house hunters need 58% of (their) incomes to buy a $505,000 median-priced home.” Remarkably, it says 6.7% of mortgages are underwater in San Joaquin County, and 0.11% of homes around here are somewhere in the foreclosure process. On top of all that it says the county has 7.2% unemployment. We’ve written in that past that Lodi is the second-poorest city in the county, second only to Stockton, based on per capita income. Local incomes not only drive the economy and sales taxes that help fund the government, but they are also a huge factor in attracting new retail businesses here.
CLOSED: Cactus Mexican restaurant in Woodbridge has closed. Last Saturday was their last day. “We would also like to express our appreciation to our customers for their trust and support over the past 34 years. Being a part of this community has been such a blessing,” write the owners.
NO CAMPING: Last week the U.S. Supreme Court ruled that local governments can enforce anti-camping ordinances, after all. That means the city
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