- Making News: Median Income Falls Far Short for Typical Mortgage
The median income in Southern California is $52,000, but the income needed to qualify for a median-priced home is $107,000. That's a gap of $55,000, according to the latest statistics from the California Association of Realtors. Robert Kleinhenz, CAR's Deputy Chief Economist, explains the income gap and what's driving up prices.
Antonio Villaraigosa, Back on the Mayoral Campaign Trail
Four years ago, former Assembly Speaker Antonio Villaraigosa won the primary for Mayor of LA with the support of organized labor, the Democratic Party and billionaire Eli Broad, but lost the subsequent run-off campaign to Jim Hahn. Two years ago, when he ran for City Council, Villaraigosa promised voters he'd serve his full four-year term. Now, he's back, running again against Mayor Jim Hahn and three other challengers. Recent profiles in the LA Times and the Business Journal say Villaraigosa has lost the magic he had when he first ran for Mayor in 2001. With exactly three weeks until election day, the current campaign is becoming angrier and more expensive. Tonight, we talk with repeat mayoral candidate, City Councilman Antonio Villaraigosa.