After the fires, contractors are likely to choose higher-value properties in Pacific Palisades than less lucrative projects in Altadena.

The average 30-year fixed-rate mortgage shot up to nearly 8% in late 2023. It fell to just above 6% last fall, bounced back above 7% in mid-January, and declined again recently.

Prices are now rising fastest in the Northeast, and slowing in some Sunbelt markets that saw big spikes early in the pandemic.

It’s the first time the home improvement retailer posted gains in two years. This is partly because homeowners are renovating instead of shopping for a new home.

A survey from the National Association of Home Builders found contractors’ expectations fell to their lowest level in more than a year.

Tariffs and higher mortgage interest rates are at the top of the list.

“It’s like we’re back in our dorm in college,” said Kirsten Harrison, a resident of a senior housing community in Minnesota.

The rule is designed to stop the cycle of flood damage, but it’s leading to opposite outcomes in two Louisiana towns.

“This is one area where there does appear to be convergence between Democrats and Republicans,” said UChicago professor Mike Albertus.

Shelter played a key role in January’s higher-than-expected consumer price index. A dwindling supply of apartments could add to that effect.