Stocks higher this week – Stocks rose this week after two previous weeks of declines. Stocks have performed strongly in the first two thirds of the year. Stock market indexes, while off the record highs hit just a few weeks ago, have logged double digit gains for the first time since 2013. The Dow Jones Industrial Average ended the week at 21,814.67, up from 21,674.51 last week. The S&P 500 closed the week at 2,443.05, up from its close last week of 2,426.55. The NASDAQ closed the week at 6,265.64, up from last week’s close of 6,216.53.
Bond yields almost unchanged this week – Remaining near the lowest levels of the year – The 10-year Treasury bond closed the week at 2.17%, almost unchanged from 2.19% last week. The 30-year treasury yield ended the week at 2.75%, slightly down from 2.78% last week. Mortgage rates follow treasury bond yields so we watch bond yields carefully.
Mortgage Rates remain under 4% – The 30-year fixed rates are about the lowest they have been in almost a year. Short term rates have risen. The August 24, 2017 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 3.86%, down slightly from 3.89% last week. The 15-year fixed was 3.16%, down slightly from 3.17% last week. The 5-year ARM was 3.17%, up slightly from 3.16% last week.
Fewer homes sold nationwide in July than June, yet still more than one year ago – The National Association of Realtors reported that total home sales slipped 1.3% in July from June’s sales pace level. Year-over-year the pace of home sales were still 2.1% higher than last July. Prices have continued to rise. The median price was 6.2% higher this July than July 2016. That marked the 65th straight month of year-over-year price increases. Inventory levels continued to shrink. The number of homes for sale nationwide was down 9% from one year ago. The unsold inventory nationwide represents a 4.2 month supply. That is down from a 4.8 month supply last July. Tight supply is causing prices to rise. Total existing home sales include all re-sale single family one-to-four unit homes, condominiums, co-ops, and town homes.
Kick off your weekend with some fun! Starting Friday, there’s plenty of events going on in and around Los Angeles! If you already have plans for Friday, don’t worry, there’s plenty more things going on Saturday and Sunday!
Friday August 25th, 2017
1. Friday Flights at the Getty.
2. Eat|See|Hear brings a screening of Depeche Mode: 101 at Rose Bowl Stadium.
3. Round Up at L.A. LIVE.
4. The 7th annual Los Angeles Food & Wine Festival in Downtown L.A.
5. Summer Nights in the Garden at the Natural History Museum.
6. Free screening of Moana in Westwood Village.
7. Night Dive at the Aquarium of the Pacific.
8. KCRW’s Summer Nights at Union Station.
9. Dodgers vs. the Milwaukee Brewers at the iconic Dodger Stadium.
10. The Nisei Week Japanese Festival in historic Little Tokyo.
11. California Market Center’s public sample sale.
12. Beach Movie Nights at Dockweiler Youth Center.
13. The Music Center’s Dance DTLA at Grand Park.
14. The West Hollywood Dance Festival (WHDF) at West Hollywood’s Park Auditorium.
15. FIGat7th Downtown Festival.
16. Free Shakespeare at the Old Zoo in Griffith Park.
17. The Barnsdall Art Park’s annual Wine Tasting Nights.
18. Garbage Pail Groundlings at the renowned LA theater.
19. Summer Supper + Show Series on the rooftop of the Ritz-Carlton in Downtown Los Angeles.
Saturday August 26th, 2017
20. Summer Happenings at The Broad.
21. Explore the architecture and social history of two neighborhoods during Hidden Histories of L.A.’s Melting Pot Boyle Heights & Monterey Park.
22. Off the 405 at the Getty Center.
23. ban.do hosting a huge warehouse sale at their L.A. penthouse.
24. Artopia at Union Station.
25. DTLA Proud Festival at Pershing Square.
26. The LA Taco Festival 2017 at Grand Park.
27. Street Food Cinema at Central Park Glendale and at Poinsettia Rec Park West Hollywood.
28. Intersection: A Playhouse District Festival.
29. Bryan Ferry at the Hollywood Bowl.
30. Rooftop Cinema Club at LEVEL in Downtown Los Angeles.
31. The Summertime Square Dance Social comes to One Colorado in Old Pasadena.
32. Summer of Music at Redondo Pier.
33. Cinespia at Hollywood Forever Cemetery.
34. The Venice Beach Music Fest comes at Windward Plaza Park.
Sunday August 27th, 2017
35. Festival Del Marisco Y Michelada at the Pico Rivera Sports Arena.
36. Sunday Salon.
37. The Floor Improv Day at Union Station.
38. Topanga Vintage Market at Pierce College in Woodland Hills.
Starting March 2018, Sunset Strip visitors will be able to get around on the weekends a little bit easier.
The West Hollywood City Council has voted to pilot a free six-month shuttle service for the Sunset Strip area.
The shuttle will go west along Sunset from Fairfax Avenue before turning south on Doheny Drive and heading east along Melrose. The shuttle will turn back north along San Vicente Boulevard to Sunset and continue east until dipping down to Santa Monica Boulevard between Crescent Heights Boulevard and Fairfax–providing better connectivity with popular restaurants such as Laurel Hardware.
The shuttle is expected to run between 7 p.m. and 3 a.m. on Friday and Saturday nights.
The pilot program is meant to promote nightlife around the strip and gives visitors a better option than the $30 parking lots. Aside from that, it will allow people to travel the Strip without worrying about driving while under the influence.
After the six months, the city will assess the program’s effectiveness and to decide whether to continue it further.
Stocks drop for second week – Political drama and a terrorist attack in Barcelona weighed on investors and were attributed by analysts as the cause of stocks falling this week. Stocks are now off about 2% from their all time highs just two weeks ago. The Dow Jones Industrial Average ended the week at 21,674.51, down from 21,858.33 last week. The S&P 500 closed the week at 2,425.55, down from its close last week of 2,441.33. The NASDAQ closed the week at 6,216.53, down from last week’s close of 6,256.56.
Bond yields stable this week – The 10-year Treasury bond closed the week at 2.19%, unchanged from 2.19% last week. The 30-year treasury yield ended the week at 2.78%, almost unchanged from 2.79% last week. Mortgage rates follow treasury bond yields so we watch bond yields carefully.
Mortgage Rates down slightly this week – The August 17, 2017 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 3.89%, down slightly from 3.90% last week. The 15-year fixed was 3.16%, down slightly from 3.18% last week. The 5-year ARM was 3.16% up slightly from 3.14% last week.
Existing home sales and prices higher in July than last July – Sales of existing homes in California totaled a seasonally annualized rate of 421,460 units in July, according to the California Association of Realtors. The number of sales of existing homes was down 4.9% from June’s sales pace. July’s sales pace was still 0.9% higher than last July. The statewide median price was $549,460, up 7.4% from July 2016. There was a 3.2 month supply of homes for sale, up from 2.7 months in June, but down from 3.6 months in July 2016.
Plans for a 70-story, 810-foot mixed-use development have been revealed for downtown Los Angeles’ South Park neighborhood. The tower is currently referred to as 1045 Olive and it will be the tallest residential building in Southern California.
According to Urbanize LA, 1045 Olive will include 794 apartments, and 12,504 sq. ft. of retail space
The building is being developed by Miami-based Crescent Heights, which also developed Century City’s Ten Thousand tower along Santa Monica Boulevard, and was designed by ODA New York. According to Curbed, no low-income units have been decided on for the building. The Los Angeles Business Journal mentioned Crescent Heights paid $11.5 million for the half-acre site in 2015.
A development timeline has not been revealed.
Monday will bring a historic, total eclipse of the sun—the first total eclipse to cross the lower 48 U.S. states in 38 years. Here in L.A., we won’t quite reach totality (more like 70%) but it will still be extremely dangerous for your eyes to look directly at the sun.
The only safe way to look directly at the uneclipsed or partially eclipsed sun, according to our friends at NASA, is through special-purpose solar filters like “eclipse glasses.” However, as you would imagine, said glasses have become quite the hot commodity as eclipse mania descends.
The glasses were formerly available at REI stores, but according to a Santa Monica REI store employee, that location is sold out—as are the rest of the AAS Solar Eclipse Task Force-approved REI stores in the city.
To make matters worse, experts have been warning of the potential for counterfeit glasses, which could damage viewers’ eyes. So where can the real deal still be procured?
Try your local library. A selection of both city and county libraries across the L.A. area will be having eclipse viewing events on Monday, with free glasses stocked on a first-come, first-serve basis. Important note: the glasses will only be available for participants, during the actual events. The full list of participating county libraries can be found here, and participating city libraries here.
7-Eleven is another one of the handful of retailers listed on the Task Force’s site. We haven’t had much luck finding anything in stock by calling around, but given the sheer number of 7-Eleven locations in Los Angeles, giving your neighborhood outpost a call is probably worth a shot. Most eclipse viewers are priced at $2 to $3.
Your nearest 7-Eleven store can be found here.
The Stellar Emporium Gift Shop At The Griffith Observatory
The Stellar Emporium gift shop at the Griffith Observatory will be selling a limited number of eclipse glasses (priced at $5) every day until the big event. There was already a line of people waiting outside when the store opened at noon on Thursday, so we recommend getting there early if you want to snag a pair.
The Stellar Emporium is located at 2800 E Observatory Road in Griffith Park. They open at noon on Friday and 10 a.m. on Saturday and Sunday.
As mentioned above, Warby Parker was giving out free glasses—all of which have now been distributed from their Los Angeles locations. However, an employee at the Warby Parker Green Room location in West Hollywood told LAist that there was a chance their L.A. locations might get a few more in over the weekend… So, fingers crossed, it might be worth dropping by your local Warby Parker store on Saturday or Sunday (they say they won’t be giving out store-specific availability information over the phone). There are four Warby Parker stores in Los Angeles: one in Venice, one in the Arts District, one in West Hollywood, and one at the Standard Hollywood (also technically West Hollywood).
Make Your Own Pinhole Projector
Yes, you can prevent eclipse-blindness with a cereal box (and a few other basic supplies). Here’s a NASA tutorial on how to make your own pinhole projector for safe viewing:
Urban Lights. Photo Credit: Brian Champlin / We Like L.A.
Friday August 18th, 2017
1. The Long Beach BBQ Festival. Check for discount tickets before making your purchase.
2. Echo Park Rising.
3. Join the Los Angeles Philharmonic for an evening of music and fireworks at The Hollywood Bowl for Tchaikovsky & Fireworks.
4. Beach Movie Nights at Dockweiler Youth Center.
5. Experience all things Korean during KCON 2017 at the Los Angeles Convention Center.
6. KCON Food Street by KTOWN Night Market.
7. Garbage Pail Groundlings at the renowned LA theater.
8. The Music Center’s Dance DTLA series at Grand Park.
9. FIGat7th Downtown Festival.
10. Enjoy some free Shakespeare this summer at the Old Zoo in Griffith Park.
11. The Chocolate and Art Show.
12. The 4th Annual Burbank Comedy Festival.
14. Pershing Square continues their free summer movie screenings.
15. The Music Center on Location comes to the Ford Theatres.
16. Grand Performances in DTLA.
17. The Barnsdall Art Park’s annual Wine Tasting Nights.
18. Shakespeare By The Sea at Point Fermin Park in San Pedro.
Saturday August 19th, 2017
19. Muse ’til Midnight happening at LACMA.
20. BuskerFest at Long Beach’s East Village Arts District.
21. Family Day: Art for Good comes to The Hammer Museum in Westwood.
22. Marina Movie Nights returns to Burton Chace Park in Marina del Rey.
23. The Nisei Week Japanese Festival in historic Little Tokyo.
24. The Queen Mary Presents the 13th Annual Art Deco Festival.Check for discount tickets before making your purchase.
25. Taste of Brews Long Beach.
26. KCRW’s 2017 edition of Summer Nights.
27. Opening Night for Drinkin’ Smokin’ & West Coastin’ — A Group Love/Hate Letter to LA at Think Tank Gallery.
28. The Wallace and Ilegal Mezcal will collaborate in a cocktail class at Bar & Garden.
29. Street Food Cinema at Will Rogers State Historic Park Pacific
Palisades and at Los Angeles State Historic Park.
30. Unique LA at Santa Monica’s Barker Hangar.
31. Brouwerij West’s Popfuji summer concert series.
32. Spend the night enjoying a classic film beneath the stars during Cinespia at Hollywood Forever Cemetery. This weekend they will screen Some Like it Hot.
33. Los Angeles brand Project Social T sample sale.
34. CA Hot Sauce Expo in Anaheim.
35. Movies on the Green at the Lou Bredlow Pavilion in Warner Center Park in Woodland Hills.
36. Opening reception for Brandi Milne’s ‘Once Upon a Quiet Kingdom’ at Corey Helford Gallery.
37. Shakespeare By The Sea at Point Fermin Park in San Pedro .
38. To Live And Buy in LA, Super Summer Sample Sale at the ROW DTLA.
39. L.A.’s only live animated comedy show Picture This! at The Virgil.
40. Summer of Music at Redondo Pier.
41. Eat|See|Hear at La Cienega Park in Beverly Hills.
42. The Vanishing Trading Post in Downtown Los Angeles’ Arts District.
43. KX Festival at the Levitt Pavillon.
Sunday August 20th, 2017
44. The Red Bull Soapbox Race Los Angeles comes to Elysian Park.
45. Girl Cult Festival at the Fonda Theatre.
46. Los Angeles Comic Book & Science Fiction Convention at The Reef.
47. The West Hollywood Dance Festival.
48. Laguna Beach’s annual Pageant of the Masters.
49. Smorgasburg LA’s 2nd annual BBQ Day.
50. Grand Performances in DTLA.
Stocks drop this week – This week the latest companies to report second quarter corporate earnings had disappointing results. Snap Inc., the owner of Snapchat saw a loss of nearly 20% after its quarter loss grew. That affected many stocks in the tech sector. JC Penny also had a disappointing quarter. It’s stock dropped to an all time low. This put pressure on retail stocks. Some analysts attributed the drop on geopolitical conditions due to rhetoric with North Korea. Year-to-date the Dow is up 10.6%, the S&P is up 9% and the NASDAQ is up 16.3%, so some profit taking is expected. The Dow Jones Industrial Average ended the week at 21,858.33, down from 22,092.82 last week. The S&P 500 closed the week at 2,441.33, down from its close last week of 2,476.83. The NASDAQ closed the week at 6,256.56, downfrom last week’s close of 6,351.56.
Bond yields drop this week – The 10-year Treasury bond closed the week at 2.19%, down from 2.27% last week. The 30-year treasury yield ended the week at 2.79%, down from 2.84% last week. Mortgage rates follow treasury bond yields so we watch bond yields carefully.
Mortgage Rates down slightly this week – The August 10, 2017 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 3.90%, down slightly from 3.93% last week. The 15-year fixed was 3.18%, down from 3.18% last week. The 5-year ARM was 3.14%, almost unchanged from 3.15% last week. Rates dropped late in the week. Next week’s survey rates should be even lower.
Home affordability slips in California as prices rise – The California Association of Realtors reported that 29% of California households could afford to buy a $559,260 median-priced home in the second quarter. That is down from 32% in the first quarter of 2017 and 31% one year ago in Q2 2016. The annual income required to purchase the median-priced home was $110,780. They found that 38% of California households were able to purchase a median-priced condominium or town-house, which was $443,400. The annual income required was $88,870.
1. BoldPas: An Art Takeover of Old PasadenaAugust 12: A one-day event that showcases art by professional and up-and-coming Los Angeles-based artists. Installations will be throughout the alleys of Old Pasadena. The event will be from 12 – 8 p.m. -> More information
2. Summer Block Party at Malibu Country MartAugust 12: Enjoy afternoon filled with activities ranging from a petting zoo to face painting and more. Event is from 12 – 3 p.m. and takes place at the Malibu Country Mart. -> More information
3. CicLAvia: San Pedro Meets WilmingtonAugust 13: Bike, run, sprint, or walk at the closed-streets event. -> More information
4. Grand PerformancesGrand Performances offers free summer events in Los Angeles. Eight performances are still left in August, and one L.A. Chamber Orchestra concert in September -> More information.
5. Dance/DJ Nights at Grand ParkThe Music Center’s Dance DTLA takes place at Grand park and will continue through September 1. Dance Downtown takes place every other Friday night and is from 7 – 11 p.m. DJ Nights runs every other Friday as well and goes from 9 p.m. – 12 a.m. -> More information
6. Sunday Sessions at Grand ParkGrand Park offers a free dance party one Sunday per month. Two dates remain to pay tribute to L.A.’s house music scene: August 21 and September 17. -> More information
7. KCRW Summer NightsFree outdoor series with events at the Santa Monica Pier, the Annenberg Space for Photography, the Hammer Museum, and many other locations. Dates still left are August 11 and 25, plus Chinatown Summer Nights, September 2. -> 2017 Summer Nights schedule.
8. Echo Park RisingAugust 17-20: Free music on Sunset Blvd, Glendale Blvd, Alvarado Avenue and Echo Park Avenue. The 2017 lineup includes The Buttertones, CRX, Moon Honey, Meatbodies, and many more appearances. -> More information
9. Family Art Day at the HammerAugust 19: Free event offering art, performances, music, and much more. -> More information
10. Red Bull Soapbox Race Los Angeles at Elysian ParkAugust 20: The Red Bull Soapbox Race Los Angeles comes to Elysian Park on August 20 for an exciting day at the races. Experienced and amateur drivers unite as they race on their homemade soapbox crafts down the twists and turns of Angels Point Road for its annual global event. -> More information
11. Griffith Observatory Solar Eclipse Viewing EventAugust 21: From 9 a.m. – 12 p.m. stop by Griffith Observatory from 9 a.m. to noon and experience the 70% partial solar eclipse. -> More information
12. Friday Flights at the GettyAugust 25: Final installment of Friday Flights at the Getty. -> More information
13. GinCITY at Greenbar DistilleryAugust 27: Greenbar Distillery will open its doors and showcase its latest, CITY Bright Gin. Guests will have the opportunity to tour the distillery, sample gin cocktails, view installations, and enjoy live music. Food trucks will also be on site. Admission is free, but you need to RVSP for timed entry. -> More information
14. Shakespeare in the ParkFree/donation-based Shakespeare from Wednesday – Sunday through September 3 in Griffith Park. -> More information
15. Silver Lake Picture ShowOutdoor movies screened every other Thursday at Sunset Triangle Square. Still remaining for 2017: Space Jam on August 17, 10 Things I Hate About You on August 31, and Scream on September 14. -> More information
13. Summer Movie Fest at Cal State NorthridgeFree weekly movie night on CSUN’s Oviatt Library Lawn. Films still remaining: Psycho on August 10, La La Land on August 17, Space Jam on August 24, and Doctor Strange on August 31. -> More information
16. Sunset Concerts at Skirball Cultural CenterA showcase for up-and-coming and established artists from everywhere. Four more dates left to attend. -> More information
17. Summer Nights in the Garden at Natural History MuseumAn evening of cocktails, music, tours, and more at the Natural History Museum. Dates left: August 11 and August 25. -> More information
18. DT Stage Concert Series at Pershing SquareTwo big concerts left for summer 2017: The B-52s on August 12 and X on August 19. -> More information
19. Free Museum DaysPlenty of free museum days in August to check out!
There’s always something to do in Los Angeles! This weekend, enjoy a Hello Kitty cafe truck, a jazz festival, CatCon, and MUCH more!
Below is a rundown of events happening in and around the city.
Friday August 11th, 20171. Free summer movie screenings at Pershing Square.
2. Shakespeare By The Sea at Polliwog Park in Manhattan Beach.
3. ‘Upstairs Downstairs’ Tours of The Gamble House in Pasadena
4. Summer Supper + Show Series at the Ritz-Carlton in DTLA.
5. Dine LBC.
6. Grand Performances in DTLA.
7. Sundance NEXT FEST at Ace Hotel.
8. Los Angeles Dodgers Friday Night Fireworks.
9. Summer Nights in the Garden at the Natural History Museum in DTLA.
10. MUSIC + DANCE+ LA II presented by the American Contemporary Ballet.
11. Belcampo’s two year anniversary. $2 fast burgers from 2 p.m. until close.
12. Zappos.com teaming up with North Shore Animal League America and sponsoring pet adoptions at select L.A. shelters.
13. Dance DTLA at Grand Park.
14. San Fernando Valley Summer Drive-In Movie Nights.
15. FIGat7th Downtown Festival.
16. Beach Movie Nights at Dockweiler Youth Center.
17. KCRW’s 2017 Summer Nights at Union Station.
18. 626 Night Market at the Santa Anita Park.
19. 30th Annual Long Beach Jazz Festival.
20. Free Shakespeare this summer at the Old Zoo in Griffith Park.
21. Wine Tasting Nights at The Barnsdall Art Park.
Saturday August 12th, 201722. Street Food Cinema at Eagle Rock Rec Center and at Syd Kronenthal Park.
23. Summer Block Party hosted by Malibu Country Mart.
25. Hello Kitty Cafe Truck pop-up in Cerritos.
26. San Fernando Valley Summer Drive-In Movie Nights.
27. Performance by Aaron Taylor Kuffner and I. Nyoman Wenten. Titled Gameltron, at the Hammer Museum.
28. Eat|See|Hear at The Autry.
29. Shakespeare By The Sea in Manhattan Beach.
30. Summer of Music at Redondo Pier.
31. Rooftop Cinema Series on the roof of Corporate Center Pasadena.
32. BoldPas: An Art Takeover of Old Pasadena.
33. Thrillist Taco Knockout in DTLA.
34. CatCon 2017 at the Pasadena Convention Center.
35. BrunchCon at The Reef in DTLA.
36. Propel Water’s Fitness Festival.
37. Tribute to Daft Punk at The Regent in DTLA.
38. Bite at the Beach Food, Beer & Wine Event at the MBS Media Campus. Presented by The Manhattan Beach Chamber of Commerce.
39. Marina del Rey’s free Summer Concert Series at Burton Chace Park.
40. Movies on the Green at the Lou Bredlow Pavilion in Warner Center Park in Woodland Hills.
41. Grand Performances in DTLA.
42. LA Indie Improv Festival.
Sunday August 13th, 201743. Dog Day Afternoon presented by The Lincoln.
44. Grand Performances in DTLA.
45. Free museum days: Museum of Latin American Art and Craft and Folk Art Museum
46. 4th Annual Burbank Comedy Festival.
47. CicLAvia in San Pedro and the Wilmington area.
48. Swingin’ Summer at The Wiltern.
49. The Unauthorized Musical Parody of Bridesmaids presented by Rockwell Table & Stage