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SAN DIEGO (KGTV) - The Class of 2019 is graduating to a significantly tougher rental market than graduates from ten years ago. Rent hikes and slow income growth are making it more difficult for new grads to afford rental homes, according to a HotPads report. A typical college graduate in the U.S. spends 45.3 percent of his or her income on the median rent of ,740, up from 40.5 percent for the Class of 2009. The rent burden has grown by 22 percent as early-career median incomes have dropped 14.5 percent, HotPads analysts say. In San Diego, the median rent is more than the entire income for new graduates with degrees including biology and business management, at ,000 per year, and nearly the entire income for those with degrees in psychology, at roughly ,000 per year, HotPads reports. The top-earning degrees nationwide were primarily in engineering fields, with mining and mineral engineers earning a median ,854 after college. “As rent prices and student debts rise, affordability concerns for recent college graduates have garnered attention on the national stage,” said Joshua Clark, economist at HotPads. “Graduating from college still typically pays off in the long run, but slower wage growth for college graduates and rising costs have dampened the immediate financial benefits associated with a four-year degree. As renters consider their career interests and their short-term costs of living, where and how they live post-graduation can have more of an impact on their finances now than ever before." Although an education is a major financial investment, it pays off in San Diego’s tight rental market. Renters without a four-year degree would spend 129.7 percent of the median income on rent. Want to know how much you can afford? See the rent ratio chart here. 1801

SAN DIEGO (KGTV) - The California Highway Patrol said a person arrested at gunpoint on Interstate 15 in San Diego Thursday was suspected of driving illegally in the HOV lane and leading an officer on a pursuit.The chase happened on southbound I-15 just south of Aero Dr. at 5:30 p.m.Officers said the driver was in the high-occupancy vehicle lane and failed to pull over, leading to the brief pursuit.There are no reports of any injuries or a reason why the driver did not yield for the traffic stop. 508

SAN DIEGO (KGTV) — The COVID-19 pandemic has been tough on kids, as they have been stuck at home for school and for play. However, a second-grader from the College Area is putting his time to good use. Seven-year-old Max Kelley came up with an idea to help feed those in need. Max and his younger sister Lucy were playing out in the backyard when he approached his mom with an idea of wanting to start a business."He wanted to do a water recycling business," says his mom Lauren. "So we went around collecting water bottles and cans. We went around to high schools, the bay, and the beach. Every week, we would return it to the recycling center, and we would get the money."And while some kids might take the money to buy something for themselves, Max wanted to do something completely different, and completely unselfish. His first thought was to think of others, and how the money might benefit somebody else."I realized that there are people in need," says Max. "And need food and water." His mother wasn't surprised at all, describing her son as very caring."He came up with the idea himself, and that was to donate the money to a local food bank," Lauren said.So the day before Thanksgiving, Max, Lucy, and the family donated their collection of 8.43 to the Special Delivery Food Bank in Mission Hills. "My family and the kids all got a standing ovation from all the patrons that were there," says Lauren.One check has been delivered, but Max is definitely not finished giving to those in need. As he and Lucy have plans to raise even more money for the food bank. "It made me feel happy," Max said. 1616

SAN DIEGO (KGTV) -- The City of San Diego is resuming its enforcement of all parking regulations this month.From Wednesday, July 1, through July 14, the city will issue written warnings for vehicles parked in violation of:-- Posted street sweeping routes-- Metered parking restrictions-- Curb time limits-- Commercial zonesCitations will continue to be issued for vehicles parked illegally at red, white and blue painted curbs. Drivers are encouraged to follow posted signage when looking for a parking space.Starting Wednesday, July 15, citations with fines will be issued.On March 16, the city suspended citations for vehicles violating street sweeping, metered parking, time limits and yellow commercial zones due to state and San Diego County stay-at-home orders amid the COVID-19 pandemic. 802

SAN DIEGO (KGTV) — The Federal Reserve's decision to lower its key interest rate to near zero will help some San Diegans, but frustrate others.The Fed reduced its Federal Funds Rate to near zero for the first time since the Great Recession of 2008. The move, in reponse to the Coronavirus outbreak, will help keep auto loan rates low and mortgage rates near historic lows. It will also, however, lower earnings from interest bearing savings accounts. Greg McBride, chief financial analyst for Bankrate, predicted the economy to go into a recession, but said the low borrowing rates would help jump start spending once activity picks up again. "Coming out of that, one of the things that's going to give the economy a boost to recover from that will be these brutally low interest rates that entice consumers and businesses to resume borrowing and spending," McBride said. "Somebody concerned about losing their job is not going to go to go out and buy a car."Mortgage rates are already extremely low, with the average rate for a 30-year fixed is 3.36 percent. Still, that's above the all-time lows reached earlier this month, when the Federal Reserve made its first emergency cut. Mark Goldman, a loan officer for C2 Financial Corp., said there has been a rush to refinance since that earlier drop — a big reason why rates did not fall deeper."There's so much refinancing business going on right now that lenders can't stand a lot more business, so they price accordingly," Goldman said. Still, those mortgages rates will remain low as San Diego County enters what's typically its peak home buying season. 1613