A lot happened this week
Jobs, a sharp market selloff, and a few important changes around Orange County.
Did you know?
U.S. Job Market Beats Expectations as Unemployment Falls: The U.S. economy added 165,000 jobs in October, significantly exceeding economists' forecasts of approximately 65,000. The unemployment rate also declined to 4.1%, while hiring increased across healthcare, manufacturing and professional services. Despite the stronger report, wage growth continues to trail inflation, leaving households facing pressure from rising living costs. The latest figures could also influence the Federal Reserve's next interest rate decision.
Newport Beach and Laguna Beach Plan Major Water Supply Investment: Newport Beach, Laguna Beach and Fountain Valley have finalized an agreement to develop a new $30 million municipal water well intended to improve regional water reliability. The project will draw from the Orange County Groundwater Basin, with Newport Beach contributing $20 million toward construction. Expected to become operational in 2028, the well could allow Newport Beach to obtain its entire water supply from local groundwater rather than relying partly on imported water.
Trash Collection Delays Spread Across Orange County: An ongoing labor dispute involving Orange County landfill workers is beginning to affect residential trash and recycling collection. Waste hauler CR&R has warned customers of delays as restricted landfill access and longer travel times disrupt collection routes. The issue has affected service across multiple communities, including Newport Beach and Costa Mesa, while negotiations between county officials and Teamsters Local 952 continue. Residents experiencing missed pickups should check with their waste provider for updates.
Wall Street Suffers Sharp Selloff as Technology Stocks Tumble: U.S. stocks suffered a major decline Thursday, with the Dow Jones Industrial Average falling more than 1,800 points and the Nasdaq dropping approximately 5.5%. Technology and artificial intelligence companies led the selloff as investors reassessed expectations for the rapidly expanding AI industry. The S&P 500 fell 4.4%, marking its steepest daily decline since April 2025. Despite the losses, major indexes remained positive for the year, highlighting the contrast between recent market volatility and longer term performance.
Turtle Ridge | Open House
Just listed in The Summit at Turtle Ridge, 33 Canyon Terrace offers five bedrooms, nearly 3,700 square feet, and beautifully updated interiors with white oak floors and Taj Mahal countertops. Set on over 10,000 square feet, the backyard features a saltwater pool, outdoor fireplace, and sweeping views.
8 Del Rey | Turtle Rock
Behind the gates of The Pointe in Turtle Rock, 8 Del Rey is a completely renovated three bedroom home, featuring more than 2,300 square feet of living space, a three car garage and a backyard overlooking scenes from Strawberry Farms Golf Club
28 Blue Summit | Newly Priced
Tastefully updated estate that balances grand-scale entertaining with intimate everyday comfort. The home features a main-level suite and sizable office space. Newly priced $6,388,000
32 Perennial | Quail Hill
32 Perennial is a carriage-style condominium in coveted Quail Hill Irvine. It is presented in move-in condition and offers 1,382 square feet of well-appointed living space.
Pending Lease | $9,000/month
Peek-a-boo ocean and city light views. Spanning 2,900 square feet in size on a approximately 5,100 sq ft lot this home features 3 bedrooms and 3 bathroom to include a private casita and formal dining room.
Available Lease | $14,500/month
Wake up to panoramic ocean, Catalina, and city-light views from this stunning European-inspired residence in the guard-gated enclave of Belcara at Pacific Ridge.
Exclusive Turtle Ridge Opportunities
Looking to buy, sell or simply stay informed on the Turtle Ridge market? Visit TurtleRidgeHomes.com, our dedicated resource for the neighborhood, featuring current market information, available homes and potential private opportunities not found on the MLS.
Available Lease | Crystal Cove
Experience premier coastal living in Crystal Cove’s exclusive Sea Crest enclave—this stunning estate offers unobstructed Pacific views, an infinity-edge pool, and luxurious indoor-outdoor living.
Questions on any of the above, or on a home that is not in it? Jim Watson reads every reply — call or text (714) 342-4040, or use the form on the home page and the team will come back within one business day.