Items Tagged with 'California'

ARTICLES

  • California sues one of its own cities for not building enough affordable housing

    Governor: California’s housing crisis is an existential threat to our state’s future
    In an unprecedented move, the state of California is suing one of its own cities for not building enough affordable housing. Late last week, California Gov. Gavin Newsom announced that the state is suing the city of Huntington Beach for “standing in the way of affordable housing production and refusing to meet regional housing needs,” actions that “harm California families’ ability to find affordable places to live and drive up housing costs for everyone.”
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  • San Jose bans evictions on unpaid federal workers

    City council moves to protect federal workers during shutdown
    Prior to the end of the longest government shutdown in the nation's history, the city of San Jose moved to ban all evictions in the city on unpaid federal workers until one month after the shutdown ends.
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  • Mr. Cooper laying off 109 mortgage employees in California

    Latest rounds of cuts for mortgage industry
    Over the last several months, layoffs have hit companies across the housing industry as the industry works to find solid footing in a shifting mortgage market. One company that’s been growing is Mr. Cooper Group, the nonbank formerly known as Nationstar Mortgage. But, layoffs are about to hit Mr. Cooper, too.
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  • Zillow to begin buying houses in California, North Carolina

    Expands direct buyer business to Riverside, California and Charlotte, North Carolina
    It seems to be all about expansion these days for Zillow. The online real estate giant recently got into the mortgage business with its acquisition of Mortgage Lenders of America. Zillow has also been growing its direct buyer business, Zillow Offers, wherein the company is buying houses directly from sellers then lists the home for sale. And the company will soon be buying houses in California and North Carolina.
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  • Gateway Mortgage shuttering California branches, laying off dozens

    Oklahoma lender closing all 8 California retail branches
    Over the course of the year, thousands of people working in the mortgage business have been laid off as rising interest rates drive mortgage originations lower and the economics of the mortgage business become tougher for companies to survive unscathed. Now, Gateway Mortgage Group is joining that list and becoming the latest mortgage company to lay off a number of employees.
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  • Fannie Mae and Freddie Mac issue relief policies in wake of devastating California wildfires

    Victims will be eligible for up to 12 months of mortgage forbearance
    California’s wildfires have ravaged the state, claiming the lives of 44 people and destroying more than 100,000 acres. In response to this threat, Fannie and Freddie are reminding victims that mortgage assistance options are available for those affected by these deadly fires.
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  • California voters decisively defeat rent control effort

    Nearly two-thirds of voters cast ballots against Costa-Hawkins repeal
    In addition to going to the polls Tuesday and picking a new governor, lieutenant governor, a host of new members of the House of Representatives, and re-electing one of their two senators, California voters also soundly defeated a push to increase rent control in the state. While the measure’s supporters surely view the defeat as a setback, an analysis from UBS argues that the proposition losing is actually the best thing for all involved.
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  • Could taxing tech companies fight homelessness?

    Propositions could bring affordability to California's housing market
    Thriving tech hubs often come at a cost and the price might be too high. This November, San Francisco Bay Area voters will decide if large corporations can be taxed to offset issues tech companies have escalated, according to an article from NPR.
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  • Is lack of affordability triggering an exodus from coastal markets?

    Redfin data suggests homeowners are relocating to less expensive inland markets
    As mortgage rates continue to climb in expensive coastal cities, more and more people are migrating to affordable markets, according the latest data from Redfin. Redfin Chief Economist Daryl Fairweather said buyers are increasingly cost-conscious, and seeking more affordable homes in low-tax states in the South and middle of the country.
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  • California's election could bring $6 billion to its affordable housing market

    However, some worry it may increase the taxpayer debt
    As more and more Californians suffer from rising mortgage and interest rates, legislators have introduced many proposals to tackle the housing crisis. This November, Californians will have the chance to vote for propositions that could bring $6 billion to affordable housing statewide, according to an article from The Mercury News.
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