VAN NUYS – A 45-year-old Van Nuys man who was shot dead by police responding to a domestic abuse call had a history of mental illness and was nude when he lunged at officers with a metal bar, police said Tuesday. The man who died Monday night might have been the same John Eric Goudeaux who created a major traffic jam shortly after the Sept. 11, 2001, terrorist attacks when he drove down Ventura Boulevard in a rented Toyota Camry yelling “Jihad Good!” That Goudeaux, who displayed signs on his car reading “Bing-da-Bang-Boom, Enjoy” and “Surprise kaboom kaboom kaboom,” was the same age as the man shot by police Monday night. Monday’s altercation occurred about 7:15 p.m. after police received word that Goudeaux’s estranged wife was being held against her will in the 17600 block of Runnymede Street. After Goudeaux refused to open the door, about eight officers forced their way into the home and found Goudeaux, nude, holding a 3-foot metal bar, said April Harding, LAPD spokeswoman. Harding said after repeatedly ignoring orders to drop the weapon, Goudeaux lunged at Officer Timothy Hope, 27, a 3-year veteran with the department. “Officer Hope fired a shot in defense,” Harding said. Goudeaux was taken to Providence Holy Cross Medical Center, where he later died. Goudeaux’s mother, Suzanne Rose, a Northern California resident, questioned whether officers needed to shoot to kill. “This was a case in no way, shape or form (where) they should have killed him,” Rose said of her son, acknowledging his battles with mental illness. “The whole neighborhood knew he was crazy, but he would never hurt her,” Rose said of her daughter-in-law. Rose said that her son and his estranged wife had a complicated relationship. “They’re not living together, but she loves him and has compassion for him because he’s crazy and he needs help. … I can tell you this right now. I can hardly believe it was kidnapping,” Rose said. “She had a restraining order against him, and she was in his house.” Rose said that her daughter-in-law told her that Goudeaux wouldn’t let her leave his home, so she called a friend and eventually the police were called. According to Rose, her daughter-in-law said that when police knocked on the door Goudeaux told her to ignore them. Rose said her daughter-in-law told her that Goudeaux said: “We’re not doing anything and it’s private property.” “She said she was not in danger and she was nowhere near him and he was not going to hurt her.” Rose said she doesn’t blame the officers and understands that making split-second decisions are difficult, but she wishes they could have restrained him and gotten him the help he needed. “Why didn’t they shoot him in the leg and take him to a mental hospital?” LAPD’s Force Investigation Unit is handling the investigation. [email protected] (818) 713-3329160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!
Capital Economics: Lower Rental Yields Undermining Investment Case Lower rental yields in today’s market may threaten to drive out investor interest, but “”Capital Economics””:https://www.capitaleconomics.com/ sees no reason to start worrying just yet.[IMAGE]In its latest US Housing Market Update, the analytics firm addresses the uneven gains seen between home purchase prices and rent costs over the last year. (The report cites January data from CoreLogic, which shows prices rising 9.8 percent year-over-year with rents rising only 2.7 percent in the same period.)The disparity is weighing on rental yields. By Capital Economics’ measure, average gross rental yields–annual rent payable on a property divided by its current value–fell from a peak of 5.5 percent in early 2012 to 5.31 percent by the fourth quarter.””In a US Housing Market Focus from last year we highlighted that the house price gains that investor interest in housing are driving would eventually price many of those selfsame investors out of the market,”” writes Paul Diggle, property economist for the company. “”The mechanism will be via a reduction in rental yields and less potential for capital appreciation, to a level that doesn’t compensate investors for the high set-up and management costs of residential investment.””For a housing market still reliant on investor purchases, the phase-out may represent a serious problem.Diggle offers as evidence the case of Phoenix, Arizona, a hard-hit market that has largely been revived as a result of investor activity. There, prices have risen by 23 percent over the past year, rendering the city a “”no-go area”” for many institutional investors interested in cheaper prospects.However, Diggle notes lower yields are unlikely to dampen investor interest in housing, at least in the short term.””First, the decline in rental yields is still very gradual and will see yields remain high relative to Treasuries for a while yet. While we expect the 10-year Treasury yield to end the year below 2 percent, our forecasts for house prices and rents imply gross rental yields averaging 5.1 percent during 2013.””Second, even as the typical rental yield slides backwards, our expectations for an 8 percent gain in house prices this year implies a healthy total return for investors. Indeed, at 12.7 percent in Q4 2012, the total return from housing–rental yield plus capital appreciation–was already at its highest level since early-2006,”” he writes.For the time being, at least, Capital Economics expects investor demand to continue to act as a major support for the recovery. However, with fewer distressed assets for sale and price gains leaving less potential for capital appreciation, that increased interest has an expiration date.””In that context, the 14 percent increase in mortgage applications for home purchases over the past year has been an encouraging sign that mortgage-dependent buyers may be beginning to play more of a role in the housing comeback,”” Diggle remarks. “”But there’s no doubt that demand from this group will have to strengthen by a lot more to keep the recovery going.”” March 29, 2013 441 Views Agents & Brokers Attorneys & Title Companies Capital Economics Home Prices Investment Investors Lenders & Servicers Rental Properties Service Providers 2013-03-29 Tory Barringer in Data Share