State legislators passed AB 1482, a bill from Assemblyman David Chiu (D-San Francisco), which limits annual rent increases to 5% plus the rate of inflation (typically 2%-3%). Modeled after a first-in-the-nation Oregon measure adopted earlier this year, the bill also requires landlords to provide a “just cause” for evicting tenants and, in some circumstances, pay for […]
Politics Getting in the Way of Housing Legislation
In the first half of 2019, members of the California Legislature introduced roughly 200 bills that addressed the state’s worsening housing crisis. By the end of May, most of them had been nixed by the Byzantine nature of California politics. So why can’t California pass real housing reform? Among members of the Bay Area caucus, […]
Housing Battle’s Home Front
Driven by an explosion in new jobs alongside a lack of sufficient home building to accommodate workers moving into the city, Palo Alto is dealing with a dilemma also faced by other tech hubs across California. Sen. Scott Wiener’s Senate Bill 50 (which C.A.R. supports) aims to spur home building by requiring local governments to […]
Appraisers React to Decision
NAR and the Appraiser Qualification Board have reported a “fix” for the appraiser shortage. But veteran appraisers are indicating that it ignores issues with Appraisal Management Companies, that appraisers say are partly to blame for the dwindling supply. “At a time when the average age of today’s residential appraiser is in the late 50s and […]
Can Your Clients Afford to Buy?
More Californians could afford to purchase a home in the fourth quarter of 2017, up a percentage point to 29% from the third quarter, a positive report from the California Association of REALTORS® this month in its Traditional Housing Affordability Index. This means a minimum annual income of $111,260 was needed to qualify for the […]
Housing Affordability Driving African-American Population
Forbes An estimated 6 million blacks headed north and west to cities such as New York, Los Angeles, Chicago and St. Louis in the early 20th century. But now the tide is reversing, with the African-American population dropping in the latter three over the past six years. In some cases it’s clear that blacks are […]
CA Housing Issues to Watch in 2018
Rising rents and home prices forced California’s housing crisis to the front of Gov. Jerry Brown’s and lawmakers’ agenda in 2017. Legislators passed the most comprehensive package of housing bills in recent memory designed to increase spending on low-income development and encourage more construction in general. But the bills, according to independent analyses, won’t do much to make […]
Converted Units Now Legal?
Thousands of guest houses across Southern California might be shedding their illegal status, thanks to a law that took effect in January. In an effort by municipalities to ease the housing crisis, thousands of back houses, converted garages and structures otherwise known as Granny Flats are now eligible for legal permits. Legislation signed by Gov. […]
4 State Bills Address Affordable Housing
Four Assembly bills announced in December address California’s affordable housing crisis. The proposed bills will fund production of housing for low-income families, incentivize local governments to complete upfront planning and environmental review and approve housing permits to increase housing supply, fund the enforcement of existing state housing law by the Attorney General, and provide rental assistance […]
Dec. 19 CVAR At A Glance
Featured Classes and Events Dec. 23-26 | All Offices Closed for the Christmas Holiday Dec. 30-Jan. 2 | All Offices Closed for New Years Jan. 9 | Dues Are Due! Jan. 9 | CRMLS Training Jan. 13 | CAR Residential Listing & Buyer Rep Agreements Jan. 13 | CAR Purchase Agreement – New Updates […]