COVERAGE INFORMATION:
California Department of Real Estate (DRE) NEWS CLIPS service coverage:
Monday through Friday (except state holidays) each week includes electronic format articles retrieved from newspapers or news services that report real estate related news in California and some national services. Coverage is for California newspapers that are available electronically via the Internet - and any significant related breaking news.
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Copyright © , California Department of Real Estate
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Wednesday, 04/09/2025
Top Stories
California insurance regulator likens State Farm financial situation to Titanic
MEGAN FAN MUNCE, San Francisco Chronicle (Subscription)
Should California’s largest insurance company be allowed to raise prices for consumers to preserve its financial viability? That question is at the heart of a highly unusual, multiday rate hearing in Oakland that kicked off Tuesday, with consumer advocacy group Consumer Watchdog as the sole party advocating against a major rate increase, and State Farm and the California Department of Insurance in favor.
National News
Make U.S. housing great again: 25-year $urge
TIM & JULIE HARRIS, HousingWire (Subscription)
The U.S. is on the brink of a 25-year housing boom, potentially the largest in history. Fueled by demographics, demand, policy shifts, and a near-zero crash risk, this surge will redefine the American Dream. New single-family home construction, supercharged by U.S.-based technology, is set to drive explosive economic growth, building generational wealth for millions.
Gibson defendants want to move the suit out of Missouri
BROOKLEE HAN, HousingWire (Subscription)
Two Gibson commission lawsuit defendants are looking to have the case moved closer to their respective homebases. On Monday, Berkshire Hathaway Energy (BHE), the parent company of HomeServices of America, filed a motion to transfer the case from the Western District of Missouri where it was filed to the Southern District of Iowa where BHE is based.
Some Social Security recipients were falsely told their benefits had stopped, senators say
CHRIS CLOW, HousingWire(Subscription)
Last week, beneficiaries of the Social Security Administration (SSA)’s Supplemental Security Income (SSI) program were erroneously told that they were no longer receiving benefits, and could no longer access account history through the program’s online portal.
California News
A federal appeals panel suggests judge overreached in ordering the VA to build housing
DOUG SMITH, Los Angeles Times (Subscription)
A federal appeals panel appeared sympathetic toward a claim that the U.S. Department of Veterans Affairs has failed in its duty to veterans but also raised concerns that a trial judge may have overstepped his authority in a broad order requiring the agency to build more housing on its West Los Angeles campus.
Downtown tower, Five50West, surrendered to lender
JENNIFER VAN GROVE, The San Diego Union-Tribune (Subscription)
The owner of the recently remodeled, 20-story office tower at 550 West C St. has surrendered the building to its lender, signaling that downtown San Diego’s depressed office market is still reeling from a pandemic-fueled shift in how companies operate. On Friday, asset management firm Barings took back the building, branded as Five50West, from a limited liability company affiliated with the state-owned Alaska Permanent Fund Corporation through a deed in lieu of foreclosure, property records show.
Sacramento real estate company owner accused of sexual battery files countersuit
ROSALIO AHUMADA, The Sacramento Bee
Ethan G. Conrad, the head of a prominent Northern California real estate company, has filed a countersuit in Sacramento County alleging that a woman accusing him of sexually assaulting her illegally recorded him in private conversations. Camille Vasquez, a member of Conrad’s legal team, alleges in the cross-complaint filed April 3 in Sacramento Superior Court that the woman suing Conrad recorded him last year without his knowledge or consent in an attempt “to obtain damaging and compromising information” about Conrad.
Industry News
CoStar reshapes board, sharpening focus on Homes.com success
STEPHANIE REID-SIMONS, Real Estate News (Subscription)
The moves, part of a deal with investors, also include the creation of a special committee to review brand investments and international expansion plans.
Mortgage applications rebounded 20% last week as rates dipped
SARAH WOLAK, HousingWire (Subscription)
Mortgage applications jumped 20.0% from the prior week, according to data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications Survey for the week ending April 4, 2025. On an unadjusted basis, the index increased 20% compared with the previous week.
HUD’s acting inspector general touts efficiencies on Capitol Hill
CHRIS CLOW, HousingWire (Subscription)
On Tuesday morning at the House of Representatives, the programs of the U.S. Department of Housing and Urban Development (HUD) were scrutinized during a House Financial Services Subcommittee on Oversight and Investigations hearing focused on “restoring accountability” at the department.
Real Estate Technology
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In Case You Missed It
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Resources, Webinars, and Other Items of Interest
High Heat Where We Live Accelerates Aging, USC Study Finds
JAMIE GOLD, Forbes (Subscription)
Longevity has become a popular buzzword in anti-aging conversations, including those related to real estate. Simply put, this approach asks how the places where we live can help us stay young, energetic and vibrant. The key, according to a recent study conducted by the University of Southern California’s Leonard Davis School of Gerontology, may lie in real estate’s long-standing mantra: Location, location, location.
