Real Estate News 07/05/2024

Today’s News Synopsis:

San Francisco, where it takes over two years to get a housing permit, could see a reduction to permitting times to just six months under a new declaration from California Department of Housing and Community Development.

In The News:

The Center Square – “New law requires San Francisco to reduce housing permitting timelines by 75%“ (07-02-24)

“With HCD’s declaration, San Francisco is the first city in California to be subject to SB 423, a bill signed into law last year that streamlines building approvals for mixed-income and market rate housing.”

Los Angeles Daily News –  “California rents, per square foot, rank 5th-highest in US” (07-05-2024)

“11th smallest rentals nationally at 851 square feet, 5% below US norm.”

Yahoo Finance –  “Powell encouraged by cooler inflation data: ‘We are getting back on a disinflationary path’” (07-02-24)

“Federal Reserve Chair Jerome Powell said Tuesday that he is encouraged by cooler inflation but reinforced that the central bank will need to see more evidence before cutting interest rates.”

Key To Your Home Blog – “What Every Homeowner Should Know About HOA Documents” (07-05-2023)

“When you purchase a home within a community governed by a Homeowners Association (HOA), you’re committing to a unique set of rules and responsibilities. Understanding HOA documents is crucial to ensure you’re fully aware of your rights and obligations as a homeowner. Here’s what you need to know and when to ask questions.”