California suburbs growing fast as many are priced out of cities, data show LA Times
According to state officials, suburban areas just outside of Los Angeles and San Francisco grew especially fast last year due to red-hot housing markets. As people attempt to remain within commuting distance while fleeing astronomical prices, many suburbs have increased in popularity. For example, San Joaquin County, home to Stockton, grew faster than any other, up 1.3 percent to 733,000 people. San Joaquin was followed by Yolo, Riverside, and Santa Clara counties. Among cities with at least 30,000 people, the fastest-growing were concentrated primarily in the Inland Empire and Orange County: Porterville, Eastvale, Lake Forest, Beaumont, and Lake Elsinore. Supply needs have only grown for the state’s population, but the number of new housing units in California declined last year for the first time since the start of the economic recovery.
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Most Expensive U.S. Home Sale Ever: Billionaire Ken Griffin Closes On $238 Million New York Penthouse
A Manhattan penthouse is now the most expensive home ever sold in the United States. Hedge fund billionaire Ken Griffin closed on an apartment under construction at 220 Central Park South this week for around $238 million. A spokeswoman for Griffin confirmed the sale, which was originally reported by Wall Street Jurnal The deed is not yet available in city property records. The figure destroys the previous New York City record of $100.47 million set in 2014; Computer billionaire Michael Dell was recently exposed as the owner of that penthouse in nearby ONE57. The prior national record was also set that same year when Barry Rosenstein, another hedge fund billionaire, purchased an East Hampton spread for $147 M. Since then, nine-figure sales have been largely concentrated in and around Los Angeles. However, Griffin, with a net worth of $9.9 billion, is no stranger to massive real estate purchases. Just this week it came out that he spent $122 ...
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