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RAREANDGETTINGSMALLER
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To start2022,thereareonlyabout1,000newsingle-familyhomesinSanDiegoCountyconfirmed by developers,withthebulk of new residentialconstruction reserved forapartmentsand townhouses
BY PHILLIPMOLNAR
Ina dusty fieldinChulaVista, KentAdenthinks heseesthe future ofSanDiego housing.
Thehousingindustry veteran,who has overseen two master plan communitiesinChula Vista,saysthesmaller detachedhousing at Whitmore might justbethebest way for first-timehomeowners to finally get intoa traditionalhouseintheincreasingly expensivelocal market.
New homesat Whitmore from 1,947 to 2,166 square feet,are inthemid-to-high-
5KEY TAKEAWAYS FROMTHELATEST U.S.JOBSREPORT
BY PAUL WISEMAN
Themessage the U.S. jobs report sent Friday wasa surprisingone:Despitea surge inviral casesin January, the labormarket is sohealthythat employers kepthiringlast monthat a pacethatfarsurpassedanyone’s expectations.
Before Friday, the widespreadview was thatCOVID-19’s highlytransmissibleOmicronvarianthad keptpeoplehomeandheld downhiringin January. Someeconomists even predicted a job lossforthemonth.Instead,employersadded467,000 jobs.
Atthesametime, though thesizzling job marketmeansthatinflationwilllikely keep simmering,allbutensuringthatthe Federal Reserve willraiseinterestratesseveral timesthis year to try to slowthesteepprice increases for food, gas, rent,carsand manyother items thathave squeezedmil-
$600,000range, a price seenlocallyfor townhousesand condos.Itisn’t cheap by moststandards but itis lessthanthe medianprice of a SanDiego County resalesingle-familyhome,$820,000inDecember
Aden, president ofHomeFedCommunities,saidthe Whitmore project hasappealed to buyers whoare purchasing housesbefore theyare completed becauseitis a chance toget the type of home mostpeople want: A housewith a yard andnoneighbors to share wallswith.
“Theuniquethingis you are still getting a detached,single-familyhome,”he saidduring a recent touroftheprojectin OtayRanch. Whitmore mightbe a brightspotin homeshoppers’pocketbooks,butthe overallhousingpicture this year could stillbe roughforthose planning toget into their first home.
ThosehopingSanDiego County’s new homesupplymightincrease overall home inventory inthetightmarket willbedisappointed. To start 2022,there are only about 1,000new single-familyhomes confirmedbydevelopers,withthebulkof new residential construction reserved for apartmentsand townhouses.
Earlyestimatestakeintoaccountdevelopers’projections forhow many homestheywill releasein a given project. Guessesatthestart ofthe yearare typicallymuch lower than whatendsupbeing built becausedevelopers will increase theirproduction basedonhow wellsales are doing.
Roughly 1,000new single-family homes confirmed to start the yearislow compared to demand,andtheprice reflectsthat Costsfornew homesrange fromnearly $700,000 to more than$2million.Themajority ofnew homesare in
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Talk Willsandtrusts have key differences for estate planning
Dear Liz: I understandwhathappens with a livingtrustwhenbothspouses dieat once.Butwhathappenswhen justonedies? Isthetrust tossedout,sincethesurviving spouseis usuallythetrustee? What about thestuffthatthedeceased wanted togoto hisorherkids?Andwhataboutthewills? Whendoesthat get dispersed?Please explainhow trustsandwills work, especially forblended families.I’msure I’mnotthe only one withquestions.
Answer: A complete answer wouldtake many manymore words thanthis column allows,which iswhy you should consulta knowledgeableestate-planning attorney whocan giveyou personalizedadvice.
Butin a nutshell,willsandlivingtrusts are bothdocumentsthat allow people to namewhothey want toget theirproperty
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