The RE market in CA is going to really tank as soon as developers start scraping single family homes put up TWO houses and TWO granny units on the same one-quarter acre lot.
Towns and cities no longer control their local zoning — it’s controlled by Sacramento.
Single Family Detached Home zoning was just wiped out by Newsom a couple days ago. I thought the Senate Bill that introduced that was absolutely insane and had zero chance of ever getting passed. I woefully underestimated the commies ability to steal your property.
How many immigrant computer programers can you pack into a silicon valley granny flat?
They’re doing this in every large city. It was an Obama idea and proclamation. They want high density everywhere.
As long as the Fed keeps borrowing money into existence, relaxed zoning won't change prices much at all. It will ruin neighborhoods, to be sure - but due to the cost of building materials, the low interest rates, and the pent-up demand due to the shortage caused by the 2008 crash, housing prices are going to continue upward for some time. They literally cannot crash unless the Fed suddenly changes policy - which it does not dare to do.
Towns and cities no longer control their local zoning — it’s controlled by Sacramento.
I've long been following the RE market in California. After the "mostly peaceful" year of 2020, there's been increasing demand for gated communities. It's the safety factor.
This new law provides an additional incentive for gated communities: HOA restrictions on land use.
HOA's can be a pain, dictating what color you can paint your house, what kind of plants you can have on your lawn, even if and when you can put out holiday decorations. I once read a CC&R which said that holiday decorations can be set up no earlier than 3 weeks before Christmas, and must be removed within a week after Christmas.
Even so, HOA rules will protect what zoning no longer does -- what size house you can build on your plot.
Old grumpy men like East Clintwood won't be able to bitch about others being on their lawns because their won't be any. Lot of lot of houses being built in Nashville area and all of it's spokes out into the bed room communities. And most of those new houses, town homes, and condo's don't have hardly any back yard and or front yard.