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SAN DIEGO (KGTV) -- A new report is looking into why there is a shortage of homes for sale around the country. According to the report by NerdWallet, in October of 2017, the US had a 3.9-month supply of existing homes for resale, meaning at that pace, it would have taken 3.9 months to sell all the homes on the market. According to NerdWallet, a supply under six months places home buyers at a disadvantage. The report identifies six reasons why the housing supply is so low. 1. Boomers aren’t movingOver three-fourths of baby boomers own their own homes, according to the report, meaning millennials don’t have enough homes available to buy. The report also found that rising home prices force baby boomers to stay put because they don’t have the cash to downsize. RELATED: California gas tax set to increase July 12. Landlords won’t sellNerdWallet says millions of single-family homes were converted to rentals after the foreclosure crisis. In 2017, renters made up 36 percent of households. A greater demand for homes coupled with less supply means values rise while rents are rising faster than home prices. 3. Low mortgage rates The report points out that interest rates on outstanding mortgages averaged about 3.8 percent over the last three years. As mortgage rates rise, fewer people are interested in selling and getting into new mortgages. 4. Entry-level homes ignored by buildersIn the first nine months of 2017, nearly 500,000 newly-built homes were sold of which 55 percent sold for 0,000 or more. NerdWallet says builders blame high land cost and a lack of skilled construction workers for not building more entry-level homes. RELATED: Program vows to help San Diego teachers buy homes5. Regulations add costThe report points out the homebuilders say environmental protection, infrastructure fees and rules that specify lot sizes all add tens of thousands of dollars to the cost of building every single home. According to the report, regulations account for roughly one-quarter of the cost of each home. RELATED: San Diego County city shows enormous home appreciation in 20 years6. Owners want a restricted supplyFinally, the report found that local zoning and land-use regulations are enacted by officials elected by the people. The report says those officials are only responding to constituents who want a limit on the number of homes that can be built in a neighborhood. Elected officials can also set a minimum square footage for homes, further limiting supply. “There are regulations that are more about the neighbors’ sensibilities than they are about the safety of the people living in the houses,” says Miriam Axel-Lute, associate director of the National Housing Institute. “It’s neighbors who want their property values to go up, in most cases, who are insistent upon some excess safety design standards or minimum lot sizes or other things,” Lute says. “They either want their property values to go up or they don’t want, quote, ‘the wrong sort of people’ in their neighborhoods. This is the pressure behind a lot of the most damaging regulations out there.” 3097
SAN DIEGO (KGTV) -- A new report shows that San Diegans are spending most of their income on housing. In total, the average San Diego household spent nearly ,000 per year on expenses, according to the report by the U.S. Bureau of Labor Statistics. From 2017 to 2018, more than ,000 went to housing for the average San Diegan, accounting for nearly 36 percent of families’ household budgets. Likewise, San Diegans paid an average of more than ,300 on transportation and over ,600 on food between 2017 and 2018. 530

SAN DIEGO (KGTV) -- A gunman is on the loose after a Thursday morning shooting at Barrio Logan’s Chicano Park left a 19-year-old injured.San Diego police were called to the 2000 block of National Avenue, off Interstate 5, at around 1 a.m. in response to reports of dozens of shots fired.Details on what prompted the gunfire were unclear, but police confirmed a 19-year-old person was struck. The victim was taken to UC San Diego Medical Center for treatment.The victim’s condition is unknown.Police are searching for a Hispanic man in his 20s in connection with the shooting. They believe the gunman fled in a dark gray or silver car.About an hour later, as police were investigating the shooting, someone in the car matching a description of the getaway vehicle fired shots while on southbound I-5 towards officers at the shooting scene.No one was hurt in that gunfire. 878
SAN DIEGO (KGTV) - A local Naval officer is making a plea for tips after thieves made off with some priceless military heirlooms.On Tuesday, Gervy Alota's wife called him after she returned to their home on Linbrook Drive."Just completely ransacked my house...my heart sunk," said Alota.Since there were no clear signs of entry, Alota believes the thieves got in through the doggie door in the back of the home.Among the missing items were several dozen collectible Jordan sneakers and about 15 pieces of jewelry, including Alota's class ring from the Naval Academy. He calls it a symbol of the start of his 20-year Navy career. A class ring belonging to his wife - also a graduate - was also stolen. 720
SAN DIEGO (KGTV) — A heartbreaking scene greeted a youth soccer club in Mira Mesa.All four of their goals were severely damaged.Aaron Vazquez, 12, has been playing soccer since he can remember. But last week, his fun came to an ugly halt."My heart dropped and my stomach tightened," said Vazquez.Juventus San Diego stores its goals at the Mira Mesa Recreation Center. Aaron's father, Sabino, is coaching director of the club. Membership includes about 130 kids, ages 2 to 13.MAP: Track crime happening in your neighborhood"Looked like somebody trashed the goals, bent them and broke them ... left them in the middle of the field," said Sabino Vazquez.The goals are valued at about ,200.Sabino Vazquez says they tried to bend the bent parts back into place, and bought new parts. He says its safe for now, but it's only a temporary fix that will last a few months. After that, the fate of the club up in the air. "Without these goals, we can't do much," he said.The club started a Gofundme campaign with the goal of new goals.Anyone with information is urged to call Crime Stoppers at 888-580-8477. 1140
来源:资阳报