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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 Kensington sake bar and restaurant is getting creative to survive the latest COVID-19 shutdown orders.Like for so many businesses, the pandemic has been served up economic pain at Tanuki Sake Bar, where revenues have been cut in half.The most recent COVID-19 shutdown orders were a gut punch for Kai Ishii’s father, who opened the restaurant more than two years ago."Definitely disappointment on his part, and worry for his employees and the business," said Ishii.With the restaurant being takeout only, Ishii's family can only afford hours for one of their four servers."The biggest thing is the uncertainty of what’s next," said Ishii.What Ishii did do next is inspired partly from fast food."Definitely got some inspiration from In-N-Out, when they ask you, 'Do you want to eat in the car or take it home?"" said Ishii.But he knows the concept of in-car dining would only go so far."We wanted to give them something to occupy their attention," said Ishii.So Ishii bought an 18-foot-tall movie screen and a projector, and set them up in their modest parking lot — just 6 spaces. Last weekend, the sake bar started offering a pop-up Japanese movies and anime to go with dinner."We found a way to put audio in the car, so it's a lot more immersive," said Ishii.Each car can use wireless speakers for sound. The dinner for two and movie costs .Their first screening Saturday was sold out, and so is another screening later this week. Ishii is hoping to show two or three films a week, and its not just about the extra revenue."We have a lot of wonderful loyal customers, and we’re hoping the big screen will add to that ... create foot traffic, create buzz with the cars driving by and bring more attention for the restaurant and takeout orders ... We're just hoping to keep the lights on," said Ishii. 1833

SAN DIEGO (KGTV) -- A San Diego biotech is developing a device that could change how people get routine blood tests.Truvian, which moved into its new UTC area headquarters Thursday, is developing a product that could deliver 40 routine results within 20 minutes, requiring just five drops of blood. The company's chief executive says it should cost less than . "We're going to give you those results in 20 minutes, and it will cost you or your insurance a fraction of what you're paying today," said Jeff Hawkins, CEO of Truvian. RELATED: Biotech industry is booming, hiring and attainable for anyoneThe company has 50 employees working to develop the system, which it plans to submit to the Food and Drug Administration next year. Hawkins said the idea is to get the product into retail clinics like at CVS, Walgreen's and Walmart, plus private and corporate clinics. Kim Kamdar, a co-founder, said it will allow patients to get their clinical chemistry, immunoassays and hematology, which cover the range of routine blood work. Truvian's announcement comes about a year after Theranos shut down in disgrace. Theranos promised hundreds of results from a single drop of blood, but investigations uncovered fraudulent claims. Now, its founder Elizabeth Holmes and former president Ramesh "Sunny" Balwani face criminal charges. Hawkins said Truvian is different because it knows its limits. RELATED: Biotech fields seek veterans for jobs"We, from day one, got advisors who are clinicians, who are laboratory medicine specialists, who work in academia, who work in hospitals everyday, to be the people who are critiquing our work," he said. "We wanted to surround ourselves with people who would critique our work and make sure we are hitting the bar that's needed."Truvian plans to hire 30 people in the coming year. If all goes as planned, Truvian's system could hit the U.S. market by mid 2021. 1906

SAN DIEGO (KGTV) - A quarter-acre vegetation fire burning in Alpine broke out around 9 p.m. Wednesday night near Peutz Valley Rd.According to CalFire, the Peutz Fire burned six different areas which are difficult to reach. CalFire says ground crew stopped the forward rate of spread on all six spots by 11 p.m.  350

SAN DIEGO (KGTV) — A San Diego boxer who missed out on the 2016 Olympic games has her eyes set on 2020.Danyelle Wolf missed out on the 2016 Olympic games because her weight class wasn't included. The omission forced her to seek out a new challenge: MMA.For the next three years, Wolf trained for her MMA debut. That day would never come either."I dislocated my shoulder, so I totally dislocated my arm, tore my labrum," Wolf said. RELATED: USD sophomore becomes first-ever American climber to qualify for OlympicsBut a funny thing happened after that. The International Olympic Committee voted to add Wolf's weight class to the 2020 games as she rehabed her shoulder injury.So just like that, it was back to the training room, but in this case time was a factor."Thank goodness, because it I would've fought professionally in MMA I would not have been able to try out for the Olympic games," Wolf said. "It wasn't fast for learning a whole new sport like MMA, but for the three years to pass for the Olympic trials right around the corner, it came fast."RELATED: Vista skatepark draws 2020 Olympic hopefulsAnd Wolf was ready, earning a spot when it came time to focus back to boxing."Had four fights, and I got all the wins to win round one of the Olympic trials and to qualify me for the Olympic finals," Wolf said.Now comes the qualifying finals, which Wolf will compete in this December."I think I'm the experienced fighter, mentally, physically. I think I'm going to have the advantage in all aspects of the game," Wolf said. 1537

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