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
|
Tuesday, May 13, 2025
Top Stories
CFPB rescinds dozens of policies as court battle over its fate rages on
MATT CARTER, Inman (Subscription)
A hearing on an order barring the Trump administration’s move to fire all but 200 of the CFPB’s 1,700 employees is set for Friday, with Democrats calling it an attempt to dismantle the bureau.
National News
House bill calls for bigger SALT tax breaks
SARAH WOLAK, HousingWire (Subscription)
The House tax committee is looking to raise the cap on the state and local tax deduction (SALT) and formally adopt several of President Trump’s campaign tax promises as part of a multi-trillion-dollar package, Republicans’ main legislative priority. The draft legislation, introduced by the tax-writing Ways and Means Committee in the House of Representatives on Monday, was released ahead of a scheduled debate on Tuesday, signaling that the Republican-led chamber is preparing for a full vote on the bill later this month.
California News
Gov. Gavin Newsom urges cities and counties to ban homeless encampments
ASSOCIATED PRESS, The Orange County Register (Subscription)
Gov. Gavin Newsom on Monday urged California’s local governments to clear homeless encampments, escalating the state’s efforts to ban the growing number of makeshift camps on sidewalks and in parks that are the most visible signs of the crisis of people living on the streets.
Olympics broadcast center and movie studio coming to Hollywood Park
ROGER VINCENT, The Los Angeles Times (Subscription)
Rams owner Stan Kroenke will build a movie studio next to SoFi Stadium in Inglewood that will serve as the international broadcast center for the 2028 Olympic Games. Construction will start by summer on the studio and production facility that will house hundreds of broadcasters from around the world that have acquired rights to cover the Summer Games in Los Angeles, Kroenke’s company said Tuesday.
Antioch offers up to $100,000 in financial assistance for first-time homebuyers
HEMA SIVANANDAM, The Mercury News (Subscription)
In a move to make homeownership more accessible, Antioch is offering up to $100,000 in financial assistance for eligible home buyers looking to purchase their first home in the city. Through its Antioch Home Ownership Program, the city is providing up to $60,000 in downpayment assistance subsidies for first-time homebuyers with low- to moderate-incomes.
Industry News
$373,200 income required to buy Orange County home, up 129% in five years
JONATHAN LANSNER, The Orange County Register (Subscription)
The annual income required to purchase a typical California house has nearly doubled over the past five years. To see how homebuying burdens have multiplied, my trusty spreadsheet compared the California Association of Realtors’ homebuying affordability report for the first quarter of 2025 with the final three months of 2019, just before the pandemic disrupted the economy.
Now Might Be Time for an EV or Solar Panels, With Federal Tax Breaks at Risk
ASHLEA EBELING, The Wall Street Journal (Subscription)
The heyday of big federal tax breaks for Americans going green could end soon. That means if you’re considering buying a new or used electric vehicle or adding solar panels or a heat pump to your home, now is the time to grab the tax breaks. The House Republicans’ tax plan released Monday will end most green-energy tax credits for individuals at year-end, as a way to pay for tax cuts. This is a big reversal from the Biden administration, when Democrats passed a 2022 law to enhance and expand green-energy tax breaks.
Ryan Serhant likens Compass to Barnes & Noble, citing listing book
LILLIAN DICKERSON, Inman (Subscription)
The SERHANT. CEO jabbed at Compass’ launch this month of physical books of the brokerage’s exclusive listings in offices nationwide, likening it to old-school bookstores like Barnes & Noble.
Judge strikes John Davis' request from record, calling it 'scandalous'
TAYLOR ANDERSON, Inman (Subscription)
Judge called Davis’ demand for arbitration “redundant, immaterial, impertinent, and scandalous,” but ruled the former CEO made reasonable attempts to arbitrate his case against Keller Williams.
CFPB rescinds 67 guidance documents, including mortgage policies
FLÁVIA FURLAN NUNES, HousingWire (Subscription)
The Consumer Financial Protection Bureau (CFPB), which is undergoing significant changes under the Trump administration, has rescinded 67 guidance documents issued since 2011, including several that affect the mortgage industry. “Some of the withdrawn guidance was helpful to clarify regulations, which gave lenders certainty and could also be useful if defending against private litigation with plaintiff’s firms,” said Colgate Selden, a founding member of the CFPB and an attorney at SeldenLindeke LLP. “A lot of it also appears to not have much impact, such as the withdrawn items that have already self-expired.”
HUD secretary defends repeal of fair housing rule
JONATHAN DELOZIER, HousingWire (Subscription)
In a strongly worded op-ed, U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner defended the recent repeal of the Affirmatively Furthering Fair Housing (AFFH) rule. Turner argued in The Gazette, an Iowa-based newspaper, that AFFH represented a federal overreach into local housing decisions and hurt the very communities it claimed to help.
Real Estate Technology
Mortgage lender Lower acquires Movoto and parent OJO
JIM DALRYMPLE II, Inman (Subscription)
The deal will give Lower greater reach, while also contributing to an “end-to-end homeownership” platform — increasingly the holy grail of real estate technology.
Property News
No stories today
In Case You Missed It
No stories today
Resources, Webinars, and Other Items of Interest
As Congress debates Medicaid cuts, the effects on California are still unclear
STEPHEN HOBBS, The Sacramento Bee (Subscription)
The effort in Congress to find ways to save money in the Medicaid program is set to formally kick off Tuesday, and it’s difficult to predict the outcome. Already, Republicans have scaled back potentially bigger cuts to the health care program for lower income and disabled people — which serves roughly 15 million Californians through Medi-Cal — than originally feared.
