Real Estate News 10/09/2024

Today’s News Synopsis:

One of the most contentious and costly ballot measures for the November general election is Proposition 33, which would give the green light to cities and counties to control rents on any type of housing, including apartments, condos and single-family homes.

In The News:

NBC Los Angeles – “Prop 33: Contentious California ballot measure over rent control“ (10-08-2024)

“Ads on Prop 33 have dominated airwaves and online spaces with both supporters and opponents launching nasty attacks and accusations about each other.”

Kiplinger – “Election Could Reshape Opportunity Zones and 1031 Exchanges“ (10-08-24)

“As we approach another pivotal election, investors and real estate professionals are keenly focused on how the outcome might affect key tax deferral strategies, particularly qualified opportunity zones (QOZs) and 1031 exchanges.”

Fox Business –  “Housing markets that could see the biggest impact from falling mortgage rates” (10-08-2024)

“Washington D.C., Denver and Raleigh, North Carolina, are the real estate markets that are projected to see the most substantial changes as the Federal Reserve begins to lower borrowing rates.”

AOL –  “Mortgage Rates Have Started to Drop. Should You Try Buying a Home This Fall?” (10-08-24)

“In 2020 and 2021, home buyers and refinancers alike enjoyed record-low mortgage rates. But mortgage rates started climbing in 2022, and they’ve been pretty high ever since.”

Realto.com –  “The Top 10 States With the Lowest Cost of Living—Where Your Dollar Stretches Furthest” (10-04-24)

“Although runaway inflation rates seem to finally be somewhat under control, Americans are still feeling walloped with high prices every time they open their wallet—at the grocery store, gas pump, to pay for housing, and beyond.”