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Home prices jump

U.S. home prices rose 10 percent in January, the highest year-over-year increase in more than seven years. Low mortgage rates left over from 2020 encouraged first-time homebuyers to try the housing market, allowing home price to remain strong despite economic uncertainty, according to CoreLogic in Irvine. “Record-low mortgage rates were …

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Moreno Valley looking for young leaders

Riverside committee to perform annual review of ethics code

Moreno Valley residents 14 to 20 years old are asked to apply for a spot on the city’s Emerging Leaders Council. The council, intended for young people interested in local government, will have nine voting members, two alternates and up to 30 non-voting members at-large, according to a statement on …

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Apartment complex fetches $5.4 million

Apartment Building in Riverside

A 32-unit apartment complex in Riverside has sold for $5.4 million. Located at Madison Street and Magnolia Avenue, the two-story multifamily property has exclusively one-bedroom floorpans, according to a statement released today by CBRE. The purchase price works out to $170,000 per unit. Brian and Sue McMillan were the sellers …

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City to decide fate of short-term vacation rentals

Cathedral City will hold a special election today to decide how it will deal with short-term vacation rentals. If approved, Measure B will leave in place the city’s current regulations, which were approved by the city council after “one year of community engagement and feedback,” according to a statement on …

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SB County moves forward on underground rail project

The proposed Ontario Airport Loop would connect the airport to Rancho Cucamonga’s Metrolink Station. The four-mile tunnel would cost about $85 million, a fraction of what an above-ground system would cost. Negotiations to build an underground transit service between Rancho Cucamonga’s Metrolink station and Ontario International Airport are underway. The …

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