Mindblown: a blog about philosophy.
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California Reforms Insurance With Catastrophe Models
New regulations aim to stabilize California's insurance market by introducing catastrophe modeling for fairer property coverage.Planned statewide catastrophe model aims to improve risk understanding for property owners across California.
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13 Housing Markets in California Face High Risk of Decline
A recent ATTOM report highlights 13 California housing markets, mainly inland, at higher risk of decline due to affordability issues, underwater mortgages, and elevated unemployment rates. These areas, including Butte, Contra Costa, and Riverside counties, have seen rising housing costs outpace wage growth, making homeownership increasingly unaffordable. Similar vulnerabilities are noted in parts of New…
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Investors got big tax breaks to turn luxury Bay Area apartments into affordable housing. In many cases, rents are higher than before
Serenity at Larkspur, a luxury apartment complex in Marin County, offers amenities like pools and a tennis court, with one-bedroom units renting for $3,004. Despite being marketed as affordable housing, many units charge higher rents than market rates. Catalyst Housing, which acquired the property in 2019, received tax breaks and used municipal bonds for financing,…
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California’s Housing Shortfall: A Blueprint for Change
California faces a shortage of 970K affordable homes for its lowest-income renters. California’s affordable housing efforts have fallen short, with only 531K homes expected by 2030.
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New Law Could Drive California Insurance Hikes
California homeowners may face insurance rate hikes as regulators allow insurers to use climate algorithms to set prices.Rising property insurance costs may disappoint homeowners, potentially affecting California's tax revenue.
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How to get a mortgage interest rate below 6% now
Homebuyers can secure a mortgage interest rate below 6% by following three strategies. First, consider buying mortgage points, which can lower the rate but require an upfront fee. Second, an adjustable-rate mortgage with a 3/1 framework can offer a rate of 5.90% initially. Lastly, boosting your credit score is crucial, as the best rates are…
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What New Laws Are Tackling California’s Housing Crisis?
New laws aim to steer development towards higher density, transit-oriented, and mixed-use neighborhoods statewide. Assembly Bill 1893 restricts the Builder’s Remedy, introducing new site restrictions while protecting development rights.
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California: Urgent Call for Insurance Regulations
Home insurance rates in California have surged dramatically, creating affordability challenges for homeowners.Policies that typically cost $500 now reach $14K or more, straining buyers' budgets.
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Median California Home Price to Hit $909K in 2025
California home prices are expected to reach $909,400 in 2025, ↑ 4.6% increase. The state needs 2.5M new homes to meet growing demand over the next eight years.
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California multifamily building owners have embraced accessory dwelling units (ADUs)
National REITs and local investor-operators have successfully completed numerous ADU projects and plan to continue expanding. Multifamily owners are converting carports, greenways, and other spaces into entry-level apartments, often within a year. New laws and prefabricated construction methods have facilitated faster building timelines. AvalonBay has added around 50 ADUs in California, with average studio and…
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