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Housing recovery suffers, but don't blame the millennials

Competition for housing is soaring, affordability is weakening and the U.S. housing recovery is grinding to a crawl — and, in large part, the baby boom generation is to blame. No, they're not doing anything immoral or illegal; in fact, they're not doing anything at all, and that is precisely the problem. They're not moving. Baby boomers, the enormous group born between 1946 and 1964, are staying in their big suburban homes far longer than previous generations did at this age, and that is having repercussions down the housing supply line . If baby boomers don 't downsize out of big suburban homes , younger buyers eager to upsize, especially in this improving economy, can't find a home to buy. As the competition from young millennials heats up at the entry level, the logjam at the top of the market only heats that competition and pushes prices ever higher and out of reach. So, why don't boomers move? Some if it is because their empty nests have filled back u...

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Celebrity House Swap: David Arquette Buys Kate Walsh's Pad for $4.6 Million

Actress Kate Walsh just unloaded her Encino home to a fellow celebrity. Variety reports that David Arquette bought the property from the 13 Reasons Why star for over the asking price. Walsh listed the one acre estate back in July for $4.25 million, having purchased the property in 2013 for $2.725 million. It was also on the rental market earlier this year for upwards of $17,500 per month. Located in Encino's Royal Oaks neighborhood , the 4, 332 square foot main house features three bedrooms and three and a half bathrooms. The residence features a lofty ceilinged living room with exposed beams and a fireplace, as well as a spacious kitchen with a huge breakfast bar that adds to the expanse of cabinet and counter space, and separates the room from the adjoining lounge area . The property also boasts a separate detached guest cottage with its own bathroom, a pool, a fire pit, and a tennis court. The former Grey's Anatomy and Private Practice star obviously did some re...

10 Wichita apartments sell to two groups

WICHITA — Numerous Wichita apartments have recently changed hands . First, Lew McGinnis, an Oklahoma businessman with a history of buying and selling apartment properties here and in his home state, has purchased six more in Wichita for a dozen total. McGinnis didn't return calls for comment, but someone in his office – who declined to give her full name – confirmed that he has purchased new properties here and is now managing them as well. They include the 240- unit Barclay Square Apartments near Riverside Park; the 220- unit Cedarbrooke Apartments on East Harry just east of Rock Road; the 138- unit Eastborough Apartments on East Kellogg just west of Rock Road; the 196- unit Kingsborough Apartments near South Seneca and West 27th Street South ; the 244- unit Rockborough Apartments near Douglas and Rock; and the 239- unit Woodgate Apartments on East 21st Street North between Oliver and Woodlawn. There have been some maintenance issues at some of the complexes since McGinnis...

Central Valley School District buys Broadway Square apartment complex > Spokane Journal of Business

Spokane Valley - based Central Valley School District has bought for $2.3 million the Broadway Square Apartments complex at 11910 E. Broadway, in Spokane Valley , and plans to demolish it to make room for the envisioned replacement of North Pines Middle School , says Ben Small, district superintendent . North Pines Middle School , which serves about 500 students, is located on 14.5 acres of adjacent land at 607 N. Pines Road. Small says the district bought the 2.4-acre, 50- unit apartment complex with funds from a $ 113 million bond measure , which voters approved in February 2015. The district anticipates including construction funding for the planned middle school relocation project in a future ballot measure that would go before voters in the spring of 2018, he says. Small says a district facilities assessment conducted in 2010 concluded North Pines Middle School should be replaced. “Its systems and structures...