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Since about 1970, California has been experiencing an extended and increasing housing shortage, [ 1]: 3 such that by 2018, California ranked 49th among the states of the U.S. in terms of housing units per resident. [ 2]: 1 [ 3] This shortage has been estimated to be 3-4 million housing units (20-30% of California's housing stock, 14 million [ 4 ...
Proposition 13 (officially named the People's Initiative to Limit Property Taxation) is an amendment of the Constitution of California enacted during 1978, by means of the initiative process, to cap property taxes and limit property reassessments to when the property changes ownership, as well as require a 2/3 majority for tax increases in the ...
In fact, rural home price growth has exceeded that of urban and suburban areas, with average home values growing by 7% year over year, compared to 6% for urban cities and 6.8% for suburban areas.
The California Department of Real Estate ( DRE) is a California state agency focused on safeguarding and promoting the public interest in real estate matters through licensure, regulation, education, and enforcement. Employees headquartered in Sacramento and in district offices in Oakland, Fresno, Los Angeles, and San Diego carry out the DRE's ...
A record number of homes are now valued at $1 million. According to real estate brokerage Redfin, 8.5% of homes in the United States fall into the $1 million-and-up price bracket, marking an all ...
California is home to some of the most overpriced housing markets in the nation, a new housing study reveals.. A total of 11 California cities landed on a list of the top 100 housing markets in ...
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