July 29 Daily Briefing: Real estate report, fatal shooting, high praise for tribe project, and more

Happy Monday, everyone. We’ve had a few readers ask our thoughts on AB886, the so-called “Journalism Preservation Act” you may have seen commercials about. In short, we oppose it. Why? First, the decline in local news it attempts to address should be attributed not to tech companies but to the ownership of newspaper chains by hedge funds and vulture capitalists that failed to adapt their business models. Secondly, the bill favors large national publishers, such as Gannett (owner of The Desert Sun), by setting a digital publisher revenue threshold of $100,000, disproportionately benefiting them over independent publishers focused on small communities. Additionally, it proposes broad changes to linking and copyright laws, fundamental aspects of the internet that are crucial for the operations of small publishers. Read more about our opposition here.

🎶 Setting the mood: “Darling” by Real Estate

LEADING OFF

Home sales not where analysts anticipated

Home prices in the valley reached a record peak a few months ago, but prices and sales experienced their typical cooling off as we headed into the year’s hottest months.

Key Developments: In June, the median price of detached homes in the Coachella Valley dropped for the second month in a row to $695,000, an increase of just .7% year over year.

• In Palm Springs, the price of an average-sized detached home increased just .4% from the month before to $1.29 million.

By the Numbers: The three-month average of sales for Palm Springs decreased by 7%, from 162 homes last year to 151 this year. Valley-wide, sales are 24% below normal,.

Market dynamics: The valley-wide inventory on July 1 stood at 2,464 units, 146 fewer units than last month. The report notes that the seasonal pattern suggests that inventory will continue declining throughout the summer.

What they’re saying: Market analysts wrote in the report that sales have declined over the last three months. “This is disappointing as we had hoped sales would recover by now, but they appear to be going the other way.”

Looking ahead: The report outlined what could encourage buyers in the coming months, “Hopefully, the Federal Reserve will engineer an interest rate cut soon, which would stimulate buyers.”

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BRIEFLY

🚨 Three arrested in fatal Palm Springs shooting

A fatal shooting in downtown Palm Springs on Friday night led to the arrest of three men who could face murder charges.

• The incident, believed to have occurred in a parking structure we reported on earlier this month, resulted from an attempted robbery and claimed the life of a 31-year-old Desert Hot Springs man.
  
  
• Police apprehended the suspects — a 20-year-old from Palm Springs and two 23-year-old brothers from Cathedral City — within six hours of the shooting. All three were booked on suspicion of murder and attempted robbery.
  
  
• The victim was transported to a local hospital by friends after the shooting, which took place around 10:26 p.m. He passed away at 12:35 a.m. on Saturday.

Bottom line: This marks the fourth apparent homicide in Palm Springs this year. The Palm Springs Police Department is actively seeking additional information and urges witnesses to come forward.

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TODAY’S FEATURED EVENTS

Sip & Chill with Palm Springs firefighters
9 a.m. | 4 Paws Coffee Company
District residents are encouraged to come share their thoughts and enjoy a casual conversation with city firefighters. Hosted by District 1 Councilmember Grace Garner. 

Open Play Bridge
9 a.m. | The Center
Come have some fun and enjoy playing Bridge in a casual and safe environment.

Gender-Affirming haircuts and color
11 a.m. | Saloniste
Open to LGBTQ+ youths and young adults ages 11-22, Justin at Saloniste is offering free gender affirming haircuts or color. Register online, first come first served.

Monday Men’s Coffee
5 p.m. | Play Lounge PS
Come have coffee and chat with other men about issues that are on your mind. No RSVP required — just drop in!

Adult Tap Dance Class
6:30 p.m. | Leisure Center Dance Studio
Adult intermediate tap starts at 6:30 p.m., and “absolute beginners” adult tap is at 7:30 p.m. (“Two left feet are optional.”) ($20)

Fabulous Bingo
7 p.m. | Kings Highway at Ace Hotel
Join Bella Da Ball for a night of fabulous bingo. (Must spend $30 at Kings Highway to participate.)

SAVE THE DATE

• Summer Sunday: Weaving Patterns at the Agua Caliente Cultural Museum on Sunday.
  
  
• The Great Catsby Book Club at Frisky Business on Aug. 8.
  
  
• PSUSD Diversity & Racial Equity Conference at the Palm Springs Convention Center on Sept. 7.

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AND FINALLY …

If you haven’t been to the Agua Caliente Cultural Center and the plaza surrounding it, might we give you yet another reason: Time Magazine just listed it as one of the World’s Greatest Places.

Driving the news: Time’s list of must-visit destinations was curated from nominations by its global network and an open application, focusing on new and exciting experiences. 

• Expanding beyond last year’s 50 cities, this year’s edition features 100 unique spots, including hotels, cruises, restaurants, and attractions that are leaders in their respective areas.

Zoom in: The Agua Caliente Band of Cahuilla Indians’ project, opened in Downtown Palm Springs in November 2023, features exhibits detailing the tribe’s history inside a 48,000-square-foot museum. Outside is a plaza designed to mimic the natural elements of Indian Canyons — some of the tribe’s most sacred land.

What they’re saying: “The long-awaited debut of the Agua Caliente Cultural Plaza in downtown Palm Springs last fall fits perfectly into the current Native American awakening, with unprecedented authentic representation across politics, pop culture, and more,” author Kate Nelson wrote in the Time piece.

Read about all the top 100 places Time chose by viewing the complete list here.