Economist: Lowest Home Equity In Over Half-Century Could Kill Retirement Plans
Traditionally, home equity rises as a mortgage is paid off, but home values continue to plunge since the bubble burst in 2006.
Traditionally, home equity rises as a mortgage is paid off, but home values continue to plunge since the bubble burst in 2006.
At Bob Hope Airport in Burbank, the number of passengers arriving and departing dropped by just over 5 percent in April compared to the same period last year.
Employers were advertising fewer jobs in April compared to the previous month, which could signal even bleaker hopes that the U.S. job market is in recovery.
The weakened job market saw employers in May adding the fewest jobs in eight months, while the official unemployment rate inched up to 9.1 percent.
Fewer people applied for unemployment benefits last week, but applications remain stuck at high levels that signal weak job growth.
Retailers reported muted May revenue growth on Thursday as bad weather and worry over the rising cost of living held back shoppers' demand for spring and summer merchandise.
Skid Row resident Dadisi Komolafe points indignantly to the sign reading "Union Rescue Mission," and grumbles that the name no longer fits since the shelter started charging for a nightly stay.
Wall Street may be giving up on its hope for a robust economic recovery in the U.S. — with one trader warning of even rockier times ahead.
A record number of foreclosures are forcing prices down, and they are expected to keep falling through this year.
Stocks are mostly lower and bond yields are at a new low for the year after two reports dimmed hopes for the job market and the U.S. economy.
The recent pain at the pump is altering spending habits and forcing families to delay or cancel big-ticket purchases like vacations and household appliances.
Are you sick of emptying your wallet while filling up the tank? A new bipartisan study says you should blame the greenback.
An upbeat outlook for Southland businesses and international trade may mean a surge in hiring in the months ahead, according to one economist.
Over 200 municipal employees in the Orange County city could get pink slips in the next six months due to outsourcing.
The government said Friday that a bad economy has shortened the life of the trust funds that support Social Security and Medicare, the nation's two biggest benefit programs.
One official said the economy is making the spread of the disease worse due to an abundance of dirty swimming pools in abandoned homes.
While April saw the biggest hiring spree in five years, the unemployment rate ticked up to 9 percent.
An unexpected windfall in tax revenues likely won't be enough to sway Governor Jerry Brown to abandon his plan for tax increases
If you're want to know why the economy seems to be stuck in neutral, a new study says look no further than your local gas station.
The main reason: shoppers fear the high price tag for most hybrid and electric vehicles may be too high to offset the savings they can expect at the pump.
A monthly survey says concerns about jobs and inflation eased in April, pushing the Consumer Confidence Index above expectations.
A Republican-led group of California lawmakers and Lt. Gov. Gavin Newsom will head to Texas next week to hear from businesses that left the state.
a new study shows over three-fourths of the U.S. workforce is stressed out by at least one thing at their job, with anxiety even reaching the youngest working Americans.
Officials with the Los Angeles Economic Development Corporation say local airports and trade centers will begin feeling the fallout from last month's devastating quake in coming weeks.
LAPD investigators are trying to determine if all of the burglaries are connected.
Producer John Powers Middleton, whose father owns the Philadelphia Phillies, apologized to his neighbors for his abandoned mansions.
These gifts from Stanley, Apple, AllTrails and more won't bust your budget.
From top-rated smart mugs to cold brew starter kits, we've rounded up the coffee lover presents to gift this Christmas.
Discover if it's worth upgrading to the new Apple iPhone 16 Pro Max or if you should stick with your current iPhone
The Vincent Thomas Bridge, running through the Port of Los Angeles, remains closed in both directions as fire crews remove a big rig that was carrying lithium-ion batteries and caught fire after flipping over.
LAPD investigators are trying to determine if all of the burglaries are connected.
Producer John Powers Middleton, whose father owns the Philadelphia Phillies, apologized to his neighbors for his abandoned mansions.
The Coachella Valley and deserts within San Diego County are facing an excessive heat warning bringing what forecasters describe as "dangerously hot conditions" that will last into the weekend.
A San Fernando Valley resident died from West Nile virus, marking the first death from the mosquito-borne illness reported in Los Angeles County this year.
LAPD investigators are trying to determine if all of the burglaries are connected.
Producer John Powers Middleton, whose father owns the Philadelphia Phillies, apologized to his neighbors for his abandoned mansions.
The Coachella Valley and deserts within San Diego County are facing an excessive heat warning bringing what forecasters describe as "dangerously hot conditions" that will last into the weekend.
A San Fernando Valley resident died from West Nile virus, marking the first death from the mosquito-borne illness reported in Los Angeles County this year.
The driver was the only person on the school bus when it was hit, and there were no other known injuries, other than the cyclist who was killed, according to the Lakewood Sheriff's Department.
Dozens of cats and kittens are moving to their forever homes a month after officers seized the felines from an Irvine home.
The Santa Ana Department of Motor Vehicles building will reopen nearly a week after employees found a possible mold growth.
The shooting happened at around 3:30 p.m. in the 400 block of W. Camile Street, according to the Santa Ana Police Department.
Airport Fire victims filed claims against Orange County after investigators determined the a public works crew unintentionally started the destructive blaze.
A California judge charged with killing his wife has been taken back into custody after the judge overseeing his criminal case contended that he lied about drinking alcohol while out on bail.
Flames were burning in San Bernardino County's Line Fire Thursday after it reached 83% containment. It scorched through tens of thousands of acres this month but no new evacuations orders have been issued after they were all lifted.
The skull was found just before noon on Tuesday in the equestrian area on a trail running along the Santa Ana River, deputies said.
Airport Fire victims filed claims against Orange County after investigators determined the a public works crew unintentionally started the destructive blaze.
The shooting happened in the Von's shopping center at the intersection of Cherry Avenue and Baseline Avenue, police said.
An investigation is underway after a man was found dead just about an hour after he was released from a jail in Riverside County.
While sometimes slow, the tracing system from the Bureau of Alcohol, Tobacco Firearms and Explosives played an instrumental role in helping law enforcement locate the man who opened fire inside a Monterey Park dance hall in 2022.
Following a deadly hijacking of a Metro bus, Ross Palombo digs through data about violence on the Metro system.
Ross Palombo goes over the crime statistics available for the Metro.
KCAL News investigates connection between Beverly Hills armed robbery and gun belonging to notorious police killer Christopher Dorner.
Ross Palombo shows how investigators arrested the man accused of starting the Line Fire after they spotted his white truck. Palombo also speaks to the man's family.
City officials shared clips of boats slammed into homes and a residence burning amid the floodwaters as they conducted water rescue operations.
Indicted NYC Mayor Eric Adams pleaded not guilty to federal bribery and campaign finance charges at his arraignment Friday.
A South Florida man's lawsuit has temporarily stopped Shohei Ohtani's 50th home run ball from being sold.
Stadiums in Pittsburgh, New Jersey, Seattle, and Tampa have been picked as emergency locations.
New York City Mayor Eric Adams has been indicted following a federal investigation, and the specific charges are now unsealed.
California has formally apologized for its role in perpetuating slavery in the state with the signing of a bill Thursday by Gov. Gavin Newsom, even as a larger push for reparations faces challenges.
In the ongoing fight against opioid addiction, Gov. Gavin Newson has signed a bill aimed at expanding access to methadone treatment in California.
Indicted NYC Mayor Eric Adams pleaded not guilty to federal bribery and campaign finance charges at his arraignment Friday.
Gov. Gavin Newsom signs law prompted by a decade-long CBS News California investigation into California's newborn genetic biobank.
New York City Mayor Eric Adams has been indicted following a federal investigation, and the specific charges are now unsealed.
Californians with iPhones and Apple Watches will now be able to store digital versions of their driver's licenses and identification cards on their devices, state officials announced.
The authorization comes after a week-long voting period for the more than 6,000 Food4Less workers represented by the United Food and Commercial Workers Local union.
A string of recalls connected to Wisconsin-based supplier Schreiber Foods has now extended to Aldi stores after similar recalls at Hy-Vee and other grocery chains.
Target, looking for ways to add sales, is relaunching its Target Circle loyalty program including a new paid membership with unlimited free same-day delivery in as little as an hour for orders over $35.
When, who and how much to tip is becoming more of a question in consumers' minds.
In the ongoing fight against opioid addiction, Gov. Gavin Newson has signed a bill aimed at expanding access to methadone treatment in California.
Gov. Gavin Newsom signs law prompted by a decade-long CBS News California investigation into California's newborn genetic biobank.
Public health officials say this case is unrelated to the three other cases in Baldwin Park, which they called "unprecedented" last week.
The latest CDC survey found 4 in 10 adults in the U.S. were obese. A map shows the states with the highest and lowest rates.
So far there have been 20 reported cases of salmonella from patrons of Madre! Oaxacan restaurant in Valencia.
Californians with iPhones and Apple Watches will now be able to store digital versions of their driver's licenses and identification cards on their devices, state officials announced.
The Pac-12 Conference announced Thursday that Boise State, Colorado State, Fresno State and San Diego State will become new members as the conference rebuilds.
A sweeping measure to regulate the development of artificial intelligence has passed the California Legislature and is headed to Gov. Gavin Newsom's desk.
California residents with Android smartphones can now add their driver's licenses and ID cards to Google Wallet, the state's Department of Motor Vehicles announced Friday.
Chevron Corporation announced Friday it would relocate its headquarters from San Ramon to Houston, Texas before the end of the year.
A South Florida man's lawsuit has temporarily stopped Shohei Ohtani's 50th home run ball from being sold.
Stadiums in Pittsburgh, New Jersey, Seattle, and Tampa have been picked as emergency locations.
Shohei Ohtani singled in the go-ahead run before stealing his 56th base of the season in the sixth inning and the Los Angeles Dodgers edged the second-place San Diego Padres 4-3 to move within a victory of clinching the NL West.
The Los Angeles Dodgers have clinched their 11th National League West title in the last 12 years with a 7-2 win over their divisional rival in the San Diego Padres.
The Chicago White Sox avoided a record-breaking 121st loss for the second straight game, beating the Los Angeles Angels 4-3 on Andrew Benintendi's 10th-inning single.
British actress Dame Maggie Smith had an extensive career in theater and movies, gaining international acclaim in later roles in "Harry Potter" and "Downton Abbey."
The adventure begins for 16 ordinary Americans as they embark on their trek to the top of the treacherous New Zealand Alps in 'The Summit.'
The industry data and analytics company Luminate said the music mogul's music saw an average 18.3% increase in on-demand streams.
Actors Olivia Munn and John Mulaney announced the birth of their second child, daughter Méi June Mulaney, via surrogate.
In her new film, the actress plays an aging TV star who finds a sinister potion that can give her a younger, more perfect version of herself, but at a horrifying price. Moore, now 61, talks about having suffered due to the entertainment industry's toxic expectations of beauty.
Thieves targeted four pharmacies scattered around the western San Fernando Valley early Friday morning. Luzdelia Caballero reports.
A fundraiser for one of the OCFA firefighters who was critically injured in last week's crash has reached more than $90,000. Michele Gile reports.
KCAL News reporter Jeff Nguyen shows us how this will be the first self-sustaining park in Los Angeles.
The Los Angeles Police Department has assigned its organized retail crime task force to help find the group of teens responsible for 14 flash robberies at various 7-Eleven stores throughout the city.
Spanish Sin Pena or Spanish Without Shame helps people reclaim their language and confidence. Luzdelia Caballero reports.
The Bridge Fire in California's Angeles National Forest exploded to more than 34,000 acres Tuesday evening, prompting evacuations and road closures.
The Airport Fire burning in eastern Orange County is one of three brush fires continuing to rage in Southern California as hot temperatures and dry conditions challenge firefighting crews.
Desert Daze is a music festival that's brought together acts like Tame Impala, The Flaming Lips, Toro y Moi and Wu-Tang Clan since starting in 2012. It's been held in Lake Perris in Riverside County, where festival-goers can jump in the water amid live performances. In 2024, it was canceled for the second year in a row. And it's not clear when the SoCal psych-rock fest will be back.
A look back at the hallowed career of the indie "B-movie" filmmaker, known for exploitation films, monster flicks, and some bizarre movie posters.
Shots from the second day of the JM Eagle LA Championship held at the Wilshire Country Club in the Palos Verdes Estates.