California faces a crisis of housing affordability due in large part to an under-supply of available homes, as a result of excessive government building regulations. These attempts by bureaucrats to centrally plan the economy and reshape the very fabric of our traditional communities has resulted in unbalanced real estate market, where housing demand far exceeds […]
Archives for June 2023
State Farm and AllState Halting Homeowners Insurance Sales in California
Last week Californians took another economic hit just before the fire season, as both State Farm and AllState said they will stop selling homeowners insurance in California. State Farm attributed the decision to three factors: “historic increases in construction costs outpacing inflation, rapidly growing catastrophe exposure, and a challenging reinsurance market.” Reinsurance is a method […]
California Association of Realtors Market Update
Policy makers in Washington D.C. avoided a default on its debt obligations as Congress and the Whitehouse engineered a last-minute deal to raise the debt limit. In anticipation of the agreement, mortgage rates have already been heading down for several days after having risen above 7% as worries over the debt ceiling reached fever pitch. […]
