Governor Newsome was not recalled. The vote appeared to be cast along party lines with the Democratic Party winning the day. That will have a stabilizing effect on the real estate market.
Right after the election was decided, he signed into law several possibly controversial pieced of legislation. The assumption is he did not want to sway the election with changing some very basic real estate laws. For instance, the Counties and Cities in California decide how to organize the areas of residential and commercial properties. There were areas zoned for single family housing. The State has removed that obstacle to multi-family housing unilaterally. This could be unpopular. It was an attempt to create more housing on existing desirable land.
Would you like to read the legislation? Click here SENATE BILL 9
