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, July 02, 2025
Top Stories
Yes, it's a 'big, beautiful bill' — for the real estate industry at least
MATT CARTER, Inman (Subscription)
Housing trade groups — including NAR, MBA and NAHB — like tax breaks for homebuyers and businesses, and urge lawmakers to put the bill on Trump’s desk.
FHFA’s Bill Pulte calls on Congress to investigate Fed Chair Powell
SARAH WOLAK, HousingWire (Subscription)
In an announcement on Wednesday morning shared with HousingWire before wide release, FHFA Director Bill Pulte called on Congress to “immediately” investigate Federal Reserve chair Jerome Powell.
National News
A Potential Mamdani Mayorship Strikes Fear in the Real Estate Industry
DEBRA KAMIN, New York Times (Subscription)
He campaigned with laser-sharp focus on affordability, and now Zohran Mamdani, the 33-year-old democratic socialist many New Yorkers had never heard of a few months ago, has clinched a surprise victory in the Democratic mayoral primary. Mr. Mamdani has called for freezing the rent on all rent-stabilized apartments; building 200,000 units of affordable housing; imposing a 2 percent income tax on millionaire New Yorkers; and doubling the minimum wage. The proposals have resonated with voters, but he will have a harder time convincing lawmakers and real estate professionals. On Monday night, the city’s Rent Guidelines Board approved a new series of increases for New York’s one million rent-stabilized units, a move supported by Mayor Eric Adams, Mr. Mamdani’s likely rival in the Nov. 4 general election.
California News
How major new housing reform will affect homebuilding in California
LIAM DILLON & TARYN LUNA, Los Angeles Times (Subscription)
This week, Gov. Gavin Newsom touched one of the third rails of California politics. He hopes the result sends a shock through the state’s homebuilding industry. Newsom strong armed the state Legislature into passing what experts believe are the most significant reforms to the California Environmental Quality Act, or CEQA, since the law was signed in 1970.
Los Angeles approves plan to spend nearly $425 million in ‘mansion tax’ money
ANDREW KHOURI, Los Angeles Times (Subscription)
The Los Angeles City Council on Tuesday approved a plan to spend nearly $425 million collected from Measure ULA, directing the money to a series of affordable housing and homelessness programs. The spending plan for the 2025 fiscal year that started Tuesday is the largest yet under Measure ULA, also known as the mansion tax.
A new toxic metal has been found in the air after L.A. fires. No one knows where it’s coming from
MEGAN FAN MUNCE & SUSIE NEILSON, San Francisco Chronicle (Subscription)
Krista Copelan’s home didn’t burn in the Eaton Fire. But for months afterward, it was filled with poisonous traces of things that did. Arsenic from treated wood and pesticides in the soil. Copper, likely from the wiring systems of the thousands of homes reduced to ash. Lead, discovered on the floor of her daughter’s bedroom, from old paint and leaded gasoline that leached into the ground only to be vaporized by flames. And on Copelan’s kitchen floor: beryllium.
Industry News
Compass will no longer adhere to Clear Cooperation, other NAR MLS policies
BROOKLEE HAN, HousingWire (Subscription)
Compass’s crusade against the National Association of Realtors’ (NAR) Clear Cooperation Policy (CCP) continues. On Tuesday, the Robert Reffkin-helmed firm informed local MLS and NAR leadership that it “does not consider the Clear Cooperation Policy or any national NAR MLS rule impacting clients as binding,” and that it “has not and will not adhere to CCP or any national NAR MLS rule.”
NWMLS asks court to dismiss Compass’s antitrust suit
BROOKLEE HAN, HousingWire (Subscription)
Northwest MLS (NWMLS) is asking a U.S. District Court judge to dismiss the antitrust lawsuit filed against it by Compass in April. In a motion to dismiss the suit for failure to state a claim, NWMLS asked for the suit to be dismissed with prejudice, which would prevent Compass from refiling it in the future.
Lower mortgage rates are driving refinance applications
SARAH WOLAK, HousingWire (Subscription)
Lower mortgage rates drove a 2.7% increase in mortgage applications from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 27, 2025. On an unadjusted basis, the index increased 13% compared with the previous week. Last week’s results included an adjustment for the Juneteenth holiday.
NWMLS fires back at Compass, saying the brokerage adopted a ‘free-rider strategy’
TAYLOR ANDERSON, Inman (Subscription)
The 32,000-member Northwest Multiple Listing Service wrote in a new legal filing that Compass “cannot have it both ways” by receiving listings via the MLS while holding half of its own listings privately
Real Estate Technology
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Property News
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In Case You Missed It
‘Thrilled’ California Developers Cheer Rollback of State’s Environmental Law
REBECCA PICCIOTTO, WILL PARKER & NICOLE FRIEDMAN, The Wall Street Journal (Subscription)
California developers are celebrating the rollback of a landmark environmental law that they say will help clear the way for new housing in a state that has suffered a severe shortage for decades. Gov. Gavin Newsom on Monday signed two bills hollowing out the California Environmental Quality Act, which was enacted to protect the environment but puts developers through a lengthy environmental review.
Resources, Webinars, and Other Items of Interest
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