Latest news with #PeeblesCorporation
Yahoo
09-07-2025
- Business
- Yahoo
Real estate CEO warns of growing ‘exodus' as people have ‘given up' on California — but where are they going?
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. With its beautiful weather, breathtaking coastlines and vibrant culture, California has always held a special allure. But according to Don Peebles — founder, chairman and CEO of real estate investment and development firm The Peebles Corporation — the Golden State's appeal is rapidly fading as residents pack up and head for the exits. 'California, and especially Southern California, is the most difficult place to do business in the United States,' he stated bluntly in a Fox Business interview. 'We were trying to build a $1.6 billion development in downtown LA, and stuck with it during the COVID crisis, and yet we could get no support from the government.' Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 4 of the easiest ways you can catch up (and fast) No millions? No problem. With as little as $10, here's how you can access this $1B private real estate fund of diversified assets usually only available to major players Peebles didn't mince words, arguing that the state's policies 'were hurting businesses.' He also pointed to the growing wave of people leaving California. 'People are fleeing, they have given up, and they're going to other places,' he said. 'We're going to see more of an exodus out of California, because the quality of life has diminished as well.' Talk of a California exodus gained momentum during the pandemic, and although the pace has slowed, the outflow of residents hasn't stopped. According to the latest U.S. Census Bureau data on state-to-state migration flows, 690,127 people left California for another state in 2023 — following an even larger outflow of 817,669 residents the year before. Where did they go? Texas topped the list. In 2023, 93,970 Californians relocated to the Lone Star State. In fact, Texas has consistently been the most popular destination for those leaving California: 107,546 Californians moved there in 2021 102,442 more followed in 2022 Arizona and Florida were also major draws, attracting 54,222 and 39,052 former Californians, respectively, during the most recent reporting period. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it There are many theories about why so many Californians are leaving. High taxes are often cited — for example, neither Texas nor Florida imposes a state income tax. But perhaps just as important is the sky-high cost of living. Housing costs alone are enough to make headlines. According to data from real estate brokerage Redfin, the median home price in California currently stands at $859,700 — nearly twice the national median of $440,892. A recent Bankrate study found that a household in California needs an annual income of $213,447 to afford a typical home in the state. Yet real estate remains a popular investment choice for those looking to hedge against rising living costs. When inflation goes up, property values often climb as well, reflecting the higher costs of materials, labor and land. At the same time, rental income tends to rise, providing landlords with a revenue stream that adjusts with inflation. Over the past five years, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index has surged more than 50%. These days, you don't need to buy an entire property outright to benefit from real estate investing. Crowdfunding platforms like Arrived have made it easier than ever for everyday investors to gain exposure to this income-generating asset class. Backed by world class investors like Jeff Bezos, Arrived allows you to invest in shares of rental homes with as little as $100, all without the hassle of mowing lawns, fixing leaky faucets or handling difficult tenants. The process is simple: Browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you'd like to purchase, and then sit back as you start receiving positive rental income distributions from your investment. For accredited investors, Homeshares gives access to the $35 trillion U.S. home equity market, which has historically been the exclusive playground of institutional investors. With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property. With risk-adjusted target returns ranging from 14% to 17%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets. Another option is First National Realty Partners (FNRP), which allows accredited investors to diversify their portfolio through grocery-anchored commercial properties without taking on the responsibilities of being a landlord. With a minimum investment of $50,000, investors can own a share of properties leased by national brands like Whole Foods, Kroger and Walmart, which provide essential goods to their communities. Thanks to Triple Net (NNN) leases, accredited investors are able to invest in these properties without worrying about tenant costs cutting into their potential returns. Simply answer a few questions — including how much you would like to invest — to start browsing their full list of available properties. BlackRock CEO Larry Fink has an important message for the next wave of American retirees — here's how he says you can best weather the US retirement crisis There's a 40% chance of a recession hitting the U.S. economy this year — protect your retirement savings with these essential money moves (most of which you can complete in just minutes) Here's how 5 minutes could get you up to $2M in life insurance coverage — with no medical exam or blood test Rich older Americans are using these 3 retirement saving strategies to supercharge their nest eggs — here's how to use them to prepare for a comfy retirement Money doesn't have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
CNBC
16-05-2025
- Business
- CNBC
Don Peebles on real estate: Interest rates are the biggest headache now
Don Peebles, Peebles Corporation founder and CEO, joins 'Power Lunch' to discuss the biggest headache for real estate investors, which end of the income spectrum is doing well, and much more.
Yahoo
15-04-2025
- Business
- Yahoo
Charlotte City Council to consider spending millions on affordable housing
Charlotte City councilmembers are considering spending tens of millions of dollars to help create or preserve around 1,000 units of affordable housing. City staff presented the proposed projects to city leaders Monday night. City's new year push for affordable housing: 200 units open in southwest Charlotte The potential projects include spending nearly $20 million on rental developments including 198 units on Oneida Road and 140 units on Old Pineville Road. City staff is asking Charlotte City Council to consider spending $4.7 million on homes for sale. Of that $4.7 million, $2.4 million would go toward building 54 homes on Old Concord Road. City staff is also asking Charlotte City Council to consider spending more than $10 million on preserving existing rental properties, the Hideaway at Kingspark and Woodford Estates In 2024, voters approved $100 million for the Housing Trust Fund. Charlotte City Council will hold a vote in the coming weeks. The embattled Brooklyn Village development is asking for $13.5 million from the city of Charlotte. Peebles Corporation is seeking the money from Charlotte City Council to help build two affordable housing complexes in Uptown. This is the largest Housing Trust Fund request the city has received. Vertical construction of Brooklyn Village won't start until June 2026 City staff is not recommending Charlotte City Council move forward with the proposal. The Brooklyn Village project was announced to great fanfare nearly a decade ago, but nothing has been built. Charlotte City Council will consider purchasing land for a developer to build apartments without dedicated parking. The project would be located on West Trade Street in the former Westside Meats building. READ MORE: Charlotte's first parking-free apartment community Council will consider spending $1.5 million to purchase the 0.45-acre property. The developer is planning 102 units. There will be no dedicated parking. The project is located along the Gold Line.
