U.S. retail sales are expected to grow four to six percent this year, with total sales expected to reach $5.1 trillion, according to the National Retail Federation. That forecast compares with seven percent growth and $4.9 trillion in sales in 2022, the Washington, D.C.-based trade association reported recently. “While we …
Read More »Median-priced home still out of reach for most California families
Only one in five California families could afford the state’s median home price – $822,320 – in 2022, a year-over-year drop of about five percent, according to the California Association of Realtors. An annual income of at least $186,800 was needed to make monthly payments of $4,670, on a 30-year …
Read More »MoVal, UCR form partnership
Moreno Valley will provide entrepreneurial workshops to the local community through a partnership with UC Riverside. The arrangement between the university’s Office of Technology Partnerships and staff from the Entrepreneurial Proof of Concept and Innovation Center will provide business-related advice and assistance to Moreno Valley residents, according to a statement …
Read More »SBA looks to help businesses hurt by Fairview Fire
The U.S. Small Business Administration is providing loans to businesses that were damaged in last year’s Fairview Fire. Acting on its own, the administration declared an emergency related to the month-long fire after California’s request for a disaster declaration was denied, according to a statement on Riverside County’s website. The …
Read More »UCR shuts down economic research center
UC Riverside closed its economic research center, several weeks after questions were raised regarding the school’s relationship with the private consulting firm that ran that operation. Beacon Economics in Los Angeles will no longer run the Center for Economic Forecasting Development, which Beacon has run since the company was founded …
Read More »County to upgrade part of downtown San Bernardino
San Bernardino County will make $2.5 million worth of upgrades to an unincorporated pocket in downtown San Bernardino. The Little Third Street and Little Tippecanoe Avenue improvement project will cover approximately one-half of a mile and will include street widening, and installation of sidewalks and street lights, according to a …
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