Assemblymember Phil Ting California cities that oppose cannabis retail stores can continue to ban them, at least for now. A proposed state bill that would require local governments to license pot shops failed to gather enough votes to move forward, according to the Los Angeles Times. Assemblyman Phil Ting’s AB 1356 bill would have required […]
Mortgage guarantors Fannie Mae and Freddie Mac to return to private control
President Donald Trump (Credit: Getty Images) More than a decade after the government seized control of Fannie Mae and Freddie Mac, the Trump administration is finalizing a plan to return the mortgage guarantors to private shareholder membership. That would be a boon for investors who have been banking on the move. The proposal could be […]
Opponents of statewide bill to cap rent increases call it “disincentive” to build
Assemblymember David Chui Ever since Proposition 10 failed at the ballot box in November, municipalities and counties around the state — including Los Angeles — have been enacting more tenant protections, including temporary freezes on rent hikes. Now, the state Assembly passed a bill for a statewide cap on rent increases, after advocates agreed to […]
Corelogic’s chief counsel is leaving the company as it deals with a DOJ inquiry
Arnold Pinkston (Credit: CoreLogic) The chief legal officer at CoreLogic, the multiple listings service vendor and housing analytics firm, is leaving the company as it handles an inquiry by the U.S. Justice Department into multiple listings services. In a filing with the U.S. Securities and Exchange Commission, the company said Arnold Pinkston had “accepted another […]
City Council’s plan to restrict developer donations faces Council pushback
Councilmen Blumenfield and Cedillo with City Hall Pay-to-play allegations have been hovering over City Hall for months, leading the City Council to attempt to crack down on how much influence the real estate industry — or any other interest group — has on decision making. But there does not appear to be consensus over what […]
Chicago activist lambasted greedy developers for years. What happens now that he’s in charge?
Alderman Byron Sigcho-Lopez (25th) About three dozen Chicago real estate bigwigs and other business leaders gathered at the Soho House in Fulton Market last month to talk about the political vise that seemed to be closing in around them. Already high property taxes had nowhere to go but up, affordable housing requirements were tightening landlords’ […]