Housing burns to the ground

A massive fire destroyed several housing complexes in an area that desperately needs housing inventory, California’s Bay Area. Here are some of the pictures from the fire, and what was left at the end.

The fire completely destroyed several apartment complexes that were under construction, according to an article by Joseph Serna for the Los Angeles Times

The report of the fire first came in at about 5 a.m. this morning on the 300 block of Lester Avenue. The building, just months away from opening, contained 40 apartment units.

The fire came at a time when the city desperately needs more housing inventory as more people move out from San Francisco and into surrounding areas. In fact, Oakland, California, has surpassed surrounding cities to become the area’s most heated real estate market.

First and foremost, if you apply for a new credit card or higher spending limits on existing cards for the holiday season, the card issuers will probably request your credit score from one or more of the national credit reporting companies (CRCs), Equifax, Experian and TransUnion. The same is true if a new car is on your shopping list or if you choose to open a store credit card account. Just as they would at any other time of year, those score inquiries from lenders can cause a dip in your credit score.

The shopping-season strategy here is twofold: You want to maximize your score before applying for this holiday-related credit, and you want to avoid having these holiday loans lower your score in advance of any major borrowing you may be planning in the early months of the new year.