San Martin
REAL ESTATE
The Forecast is Heating Up for Multifamily Housing Markets
Following a tempered Winter outlook, Summer 2024 Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey panelists see multifamily housing poised for growth over the next few years, as slowed development influences demand and vacancy rates. Increased home prices and increased rental rates in California, as well as new laws easing some of the regulatory burden for developers, are reflected in the panelists’ optimism. While fewer panelists are planning new multifamily development than this time last year, the number is higher than compared to Winter 2024. Kitty Wallace, Senior Executive Vice President, Colliers International and Tim Hutter, Partner, Allen Matkins, discuss what the next three years for this sector of the California commercial real estate market.
Allstate increases California home insurance rates by 34 percent
(KRON) — Homeowners in California insured by Allstate are facing a rate increase. Allstate was recently approved for an insurance rate hike by the California Department of Insurance, the insurance company said in a statement to KRON4. The rate hike is set to be an average of 34.1% for more than 350,000 homeowners across California. […]
State lawmakers consider offering home loans regardless of citizenship
BAKERSFIELD, Calif. (KGET) — A first-in-the-nation bill that narrowly passed both houses of the California Legislature is awaiting Governor Newsom’s signature. This proposal — which has been debated contentiously since February — on home loans for undocumented migrants is attracting mixed reactions nationwide, including right here in Kern. Proponents and opponents are weighing in on […]
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