The city’s second “gridlock tiger team” was unleashed in the San Fernando Valley on Monday morning, ticketing and towing vehicles along an 8 1/2-mile stretch of Ventura Boulevard. Tiger Team II, composed of five Department of Transportation traffic control officers and three tow trucks, will prowl Ventura from the San Diego Freeway to Topanga Canyon Boulevard to enforce existing parking laws and keep traffic moving during early morning rush hour. “Every morning, commuters deal with the frustration of bottlenecked and gridlocked traffic,” Mayor Antonio Villaraigosa said. “With this team in action, the commute along Ventura Boulevard will be a little easier for Valley residents.” In July, the City Council approved heftier fines for motorists who park in 23 so-called “anti-gridlock zones” during rush hour. The fine for parking in a red zone typically is $65, but the ordinance hiked the fine to $140 for motorists who illegally park in red zones during peak commuting times. A second offense costs violators $290. Jenny Dalir, who works at an investment firm in Tarzana, thinks rush-hour ticketing and towing might help alleviate drivers’ frustration on the busy boulevard. “That would be great because I think lots of people don’t like (that people park illegally),” Dalir said. Villaraigosa unleashed the first tiger team along a 14-mile stretch of Wilshire Boulevard in June, resulting in tickets for more than 17,000 drivers and about 5,100 towed vehicles, according to the Mayor’s Office. Not everybody is thrilled with the news, though. McKenzie Volpone admitted she has occasionally parked illegally in the early morning – but for good reason. “From 6 to 7, traffic hasn’t really started yet,” Volpone said. “Starbucks is just opening. You need that fix of coffee.”160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!
The Undervalued East Meets the Overvalued West in Daily Dose, Data, Headlines, Market Studies, News If you could fold the United States in half, simply looking at the east or west would tell you where the most under- and overvalued residential markets are‒‒if, of course, you’re reading Forbes.The magazine Thursday published its list of the five most undervalued and overvalued markets in America, and the results show that the most undervalued markets are between the Atlantic Ocean and Detroit, while the most overvalued begin in Texas and head toward the Pacific.In overvalued markets, Texas lead the way with a tie for first place between Austin and San Antonio. Both markets suffered the recession only to bounce back with vengeance as the economy started to heal. According to Forbes, both markets are 19 percent overvalued, but that number belies an even greater disparity between gross economic growth and growth in each city’s real estate market.After busting in the recession, the economies of Austin and San Antonio recovered by 18 and 9 percent, respectively. But home price appreciation rose 41 percent in Austin through the end of 2015, and the current median home price in the capital city is $278,000. Meanwhile, San Antonio’s home prices grew 21 percent during the same time, and the median home price there is now $190,400.Phoenix, Las Vegas, and San Francisco rounded out the top five most overvalued markets on Forbes’ list. In each of those cities, overall economic growth in the single digits has met with home price appreciation percentages of 49, 52, and 58, respectively.On the other side of the equation and the other side of the country, New Haven came in as the most undervalued market in America through 2015. According to the magazine, the hometown of Yale University saw its economy and home prices each grow at a flat 2 percent, and the city is considered to be 23 percent undervalued. Also 23 percent below where it should be is Detroit, which still has a glut of inventory and slow economic recovery.Rounding out the top five undervalued markets are Hartford, where homes are 21 percent below fair market value, Providence (17 percent), and Cleveland, where a 9 percent economic improvement has outpaced the city’s 2 percent growth in housing prices. Cleveland is considered to be undervalued by 16 percent.According to Forbes, these markets are no surprise when you look at jobs. Where job growth is booming, like in San Antonio’s tech and health sectors, markets inflate; where jobs are down and inventory is plenty, like in Cleveland, prices remain below where they ought to be. Affordability Forbes Housing Markets 2016-06-10 Scott_Morgan June 10, 2016 470 Views Share