California Real Estate News - Week of 10/31/16

A bit of a slow week for news in the world of California real estate with the main topic in the space relating to upcoming election decisions. The main story this week is how Prop 64, which if passed will legalize marijuana for recreational use, is really a real estate issue. Both Forbes and a smaller site, Merry Jane, point out the commercial real estate boom that followed Colorado's decision to legalize will most likely repeat in California should Prop 64 pass.

Moving into our Curbed weekly wrap up but still riding the legalization theme, here is a great write up on how legalization will change our cities. What seemed to be an over arching theme on Curbed this week has been rent, and more specifically, how high it is in LA. First up is how Los Angeles is ignoring the trend of falling rents across the country. In addition to that, apparently more than half of LA's residents are currently paying too much for rent. And to close out all of the rent-related articles, here is a breakdown of the cheapest and most expensive neighborhoods to rent in in LA. Onto home owners, the Los Angeles city council recently passed a measure that would hand out escalating fines to repeat noise violation offenders, something to keep in mind if you like to entertain. Lastly, here is an educational write up on first time buyer mortgage options.