January 2021 - Senate Bill 1079 CA
The current market is defined by “Days” of Inventory. The year 2020 will be adorned with an asterisk by historians. We should all agree, now or soon, that 2020 interrupted many lives around the world. We can argue about why, when, and where it started. Changing the year can never be done.
What can further exacerbate the market imbalance? Yes. Policy that is created by those who wish to “govern” us rather than “serve” us. (Public Service isn’t.)
A beautiful example of how government of CA wants to press hard on our throats while we struggle for air” is the Senate Bill 1079. If you know of Pachinko machines, you can now understand why a law should never be compared to one. SB 1079 defies logic. It’s so bad that I can’t advise clients to purchase REOs until the process is rectified. I will result in serious issues for buyers who otherwise thought their home was theirs.
The Senate information and text of the bill can be seen here: Governor Signs SB 1079, Homes for Homeowners, Not Corporations | Senator Nancy Skinner (ca.gov)
To steal a line, “they’ve done it again, Ollie!”