Category: Uncategorized
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Transactions are falling through: Insurance crisis tearing California’s housing market apart
Rising homeowners’ insurance premiums and limited availability are affecting California's housing market, particularly in high-risk areas like San Diego. Wildfire losses and increased material costs are reducing affordability, stalling high-dollar home transactions. Non-admitted insurers are addressing supply issues with higher deductibles. Digital agencies are expanding carrier networks and integrating insurance into mortgages, enhancing transparency and…
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California Boosts Tenant Protections to Small Businesses
California Senate Bill 1103 grants new protections to small businesses, nonprofits, and microenterprises starting January 2025. Qualified commercial tenants must provide written self-attestation of eligibility before lease execution and annually thereafter.
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Senator Arreguín Introduces Accessory Dwelling Units Bill
Senator Jesse Arreguín has introduced SB 9 to facilitate the development of accessory dwelling units (ADUs) by eliminating the requirement for property owners to reside on-site. This bill aims to address housing displacement and increase housing availability in California. Supporters highlight the growing popularity of ADUs as a solution to the housing shortage, with nearly…
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California’s New Renter’s Rights Laws: What Residential Landlords Need to Know
California voters rejected Proposition 33, which would have allowed local rent control measures. The legislature is expected to increase landlord responsibilities to improve housing affordability, as nearly 44% of Californians rent, with over half considered cost burdened. Recent laws include stricter rules on security deposits, requiring itemized lists and photo evidence for deductions. Additionally, landlords…
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New Bills Aim to Fix California’s Insurance Problems
New federal bills aim to improve affordability and access by offering reinsurance options and disaster coverage.The INSURE Act proposes affordable federal reinsurance for insurers, mandating comprehensive natural disaster coverage for homes.
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Cities Cut Red Tape to Promote Office-to-Housing Conversions
Nearly 20% of office space in the U.S. is vacant, prompting cities to convert unused offices into housing to address economic and housing shortages. Efforts include reducing approval times, offering tax incentives, and easing building codes. Despite these initiatives, conversions have only produced over 22,000 apartments since 2016, a small fraction of the total housing…
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California: Should Rent Control Apply to Post-1995 Properties?
Current Rent Control Limitations: The Costa Hawkins Act prohibits rent control for homes built after 1995, limiting protections.Proposition 33 Goals: Prop. 33 aims to expand rent control to all housing types, including newer constructions.
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Landlords are using AI to raise rents — and California cities are leading the pushback
California and federal prosecutors have accused RealPage of exploiting renters by inflating prices through its software, which allegedly facilitates unlawful information-sharing among landlords. San Diego's city council is drafting an ordinance to ban this pricing software, following similar actions in San Francisco. The federal antitrust lawsuit claims RealPage's practices harm competition and contribute to rising…
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Why Buying a Home in California Outweighs Renting
With a rental cost of $161 per 100 sq ft, California has one of the highest rental prices in the US, with avg rents ~$3K/mo. California homes are spacious, averaging 1,860 sq ft, but buying a home offers better long-term value than renting.
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California Realtors Predicting a Rosier 2025
Home Sales Increase: Projected rise of 10.5% in single-family home sales, reaching 304,400 units in 2025.Price Growth: Median home price expected to rise 4.6%, reaching $909,400 in 2025 due to high demand.