Steve Spiro’s Blog

California faces a home insurance crisis due to escalating wildfire and climate risks. Regulation Prop 103, designed to protect consumers, inadvertently caused insurers to withdraw coverage. Sweeping reforms are expected to result in higher premiums, but may entice top insurers to return to high-risk areas.

California successfully passes multiple housing production bills in 2023. Public awareness of the housing crisis significantly expands. Worsening housing conditions exert pressure on legislators to act.

California’s diverse architecture and fluctuating weather make home inspections crucial for revealing hidden issues like structural flaws and water damage. Older homes, common in California, may require updates like plumbing and electrical system repairs, affecting future needs and maintenance. Specialized inspections, beyond standard ones, are often necessary due to California's unique conditions, such as aging…

Halloween falls on October 31 because the ancient Gaelic festival of Samhain, considered the earliest known root of Halloween, occurred on this day. In the eighth century, Pope Gregory III designated November 1 as a time to praise all saints. Soon, All Saints' Day incorporated some traditions of Samhain and the evening before was known…

As of October 2023, rents in California's major cities are still too high for the standard of living, with rents often exceeding 50% of gross income. Rentals in Bakersfield are the only major region with a positive change, while the U.S. average for a one bedroom is up 0.5% from the year before. With an…

In October 2023, Realtor.com's data showed that the median list price for homes in Orange County, California, was $467,000, a 1.2% decrease from the previous month, but a 6.1% increase compared to the same period in 2022. Additionally, the median size of a home in Orange County was 1,952 square feet, with a list price…

In 2023, Southern California's residential real estate market is transitioning to a more moderate market, with buyers having more options and bargaining power. Factors influencing housing include rising mortgage rates, inflation, remote work flexibility and affordability challenges. Prices have decreased by 5.3%, creating an opportunity for prospective buyers. Remote work has also influenced housing demand,…

California Housing Finance Agency helped 13.8K California households with housing stability and wealth-building in Fiscal Year 2022-23. CalHFA offers affordable housing and homeownership programs catering to various needs. These programs include down payment assistance, specialized programs for teachers, nurses, single mothers, and low-income homebuyers.

The Assembly Constitutional Amendment 1 (ACA 1) aims to ease funding for affordable housing and public infrastructure. The proposal introduces annual and independent audits to monitor fund utilization. It also establishes citizens' oversight committees for spending tracking.