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The real estate surge is predicted to take place primarily in the South and the West, including states like California, a state with 10 regions in Realtor.com’s top 100 of 2025.
U.S. states and D.C. by median home price, February 2024 (in February 2024 dollars) [1] State rank State or territory Median home price in US$; 1 Hawaii $839,013
The 30% rule is generally reasonable — but not in a state like California, said Deputy Director Deborah Thrope with the National Housing Law Project of San Francisco.
California has the highest marginal income and capital gains tax rate and is in the top ten highest corporate tax and sales tax rates nationally. In 2016, California had the 17th-highest per-capita (per-person) property tax revenue in the country at $1,559, up from 31st in 1996. [30]
The Real Estate Commissioner is appointed by the Governor, and serves as the chief executive of the Department of Real Estate. [4]Chika Sunquist was appointed Commissioner of the California Department of Real Estate (DRE) by Governor Gavin Newsom on November 28, 2023, and she assumed office on January 3, 2024.
“In a state of emergency, new rentals can’t be priced higher than 160% of the fair market rents established by HUD,” Mott Smith, a real estate development professor at the Sol Price School ...
It had been supported by a mainstream real estate group, the California Housing Council (CHC). In response to the veto, the real estate industry managed to get an initiative, Proposition 10, on the state ballot for 1980. [20] It was soundly defeated, however, 65% to 35%. [21] [22]
California Gov. Gavin Newsom has extended emergency orders that prohibit such price hikes of more than 10% in Los Angeles County through March 8, 2025. The restrictions apply to existing tenants ...