DRE News Clips

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.

Copyright © , California Department of Real Estate

Links to web sites do not constitute an endorsement from The California Department of Real Estate. These links are provided as an information service only. It is the responsibility of the user to evaluate the content and usefulness of information obtained from these sites. DRE does not provide full text articles - user must access expired articles via newspaper archives online or local public library.

National News

Housing Market Predictions For 2024: When Will Home Prices Be Affordable Again?

Robin Rothstein, Forbes
What many had hoped would be a rosy spring home-buying season ended as a thorny challenge for many prospective home buyers already demoralized by a frustrating market.

Homes are unaffordable in 80% of larger U.S. counties, analysis finds

Khristopher J. Brooks, Yahoo Finance
A growing swath of the U.S is unaffordable for people looking to buy a home, new data shows.

California News

California Focus: Pressure builds for more office building conversions

Thomas D. Elias, Ukiah Daily Journal
Almost no one wants office buildings these days, either to build them or buy them.
In downtown San Francisco, the April sale of an empty 16-story office structure on lower Market Street brought just $6.5 million, less than the price paid for hundreds of California single family homes last year. That was 90 percent below the $65 million price the same building brought in 2016, the last time it changed owners.

Industry News

The real-estate market is in for sharp correction with losses that could take a decade to recover from, strategist says

J. Sor, Business Insider
That's according to Chris Vermeulen, a longtime strategist who's the founder of The Technical Traders. He thinks real estate is on the verge of a steep price correction, and he's forecasting that both residential and commercial properties could soon experience a wave of distress, causing prices to plunge about 30% in both markets.

State Farm Demands Rate Hikes for Homeowners, Condo Owners, and Renters in California

Westside Today
Insurance Commissioner Lara to Review State Farm’s Proposed Rate Increases
State Farm has announced plans to raise rates for homeowners by 30%, condo owners by 36%, and renters by 52%, issuing an ultimatum to the state of California. The insurer has refused to sell new policies in the state in the summer of 2023.

Real Estate Technology

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