New California law prioritizes people over corporate home-buyers

By DON THOMPSON | The Associated Press

SACRAMENTO — Tenants, affordable housing groups and local governments will get first crack at buying foreclosed homes under a measure approved Monday by Gov. Gavin Newsom.

The bill is designed to keep corporations from snapping up homes and letting some fall into disrepair as they did during the Great Recession. The issue drew national attention a year ago when several homeless mothers calling themselves Moms 4 Housing moved into a vacant, corporate-owned house in West Oakland.

It was among 15 bills Newsom signed into law as renters and home-buyers again struggle during mass layoffs prompted by the pandemic. The governor said the measures “will directly lead to more affordable opportunities for renters and homeowners.”

The law bars sellers of foreclosed homes from bundling them at auction for sale to a single buyer. In addition, it will allow tenants, families, local governments, affordable housing

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California law prioritizes people over corporate home-buyers

SACRAMENTO, Calif. (AP) — Tenants, affordable housing groups and local governments will get first crack at buying foreclosed homes under a measure approved Monday by Gov. Gavin Newsom.



FILE - In this Jan. 7, 2020, file photo, men hold up signs at a rally outside of City Hall in Oakland, Calif., in support of more housing. Tenants, affordable housing groups and local governments will soon get first crack at buying foreclosed homes in California. A bill approved Monday, Sept. 28, 2020, by Gov. Gavin Newsom is designed to keep corporations from snapping up homes and letting some fall into disrepair as they did during the Great Recession. (AP Photo/Jeff Chiu, File)


© Provided by Associated Press
FILE – In this Jan. 7, 2020, file photo, men hold up signs at a rally outside of City Hall in Oakland, Calif., in support of more housing. Tenants, affordable housing groups and local governments will soon get first crack at buying foreclosed homes in California. A bill approved Monday, Sept. 28, 2020, by Gov. Gavin Newsom is designed to keep corporations from snapping up homes and letting some fall into disrepair as they did during the Great Recession. (AP Photo/Jeff Chiu, File)

The bill is designed to keep corporations from snapping up homes and letting some fall into disrepair as they did during the Great Recession. The issue drew national attention a year ago when several

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California Law Prioritizes People Over Corporate Home-Buyers | California News

By DON THOMPSON, Associated Press

SACRAMENTO, Calif. (AP) — Tenants, affordable housing groups and local governments will get first crack at buying foreclosed homes under a measure approved Monday by Gov. Gavin Newsom.

The bill is designed to keep corporations from snapping up homes and letting some fall into disrepair as they did during the Great Recession. The issue drew national attention a year ago when several homeless mothers calling themselves Moms 4 Housing moved into a vacant, corporate-owned house in West Oakland.

It was among 15 bills Newsom signed into law as renters and home-buyers again struggle during mass layoffs prompted by the pandemic. The governor said the measures “will directly lead to more affordable opportunities for renters and homeowners.”

The law bars sellers of foreclosed homes from bundling them at auction for sale to a single buyer. In addition, it will allow tenants, families, local governments, affordable housing

Read More Read more

BBX Capital Corporation Announces Shareholder Approval of Spin-Off of BBX Capital Florida LLC and Corporate Name Change

The MarketWatch News Department was not involved in the creation of this content.

BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB) (the “Company”) and its subsidiary, BBX Capital Florida LLC (“New BBX Capital”), announced the following today:

At the special meeting of the Company’s shareholders held earlier today, the Company’s shareholders voted to approve the previously announced spin-off of New BBX Capital. The spin-off was approved by holders of shares of the Company’s Class A Common Stock and Class B Common Stock representing 88% of the total number of votes entitled to be cast on the spin-off. While the shareholders voted together as a single class on the spin-off and that vote alone was sufficient to approve the spin-off, the Company notes that 97% of the shares of the Company’s Class A Common Stock which were voted on the spin-off were cast in favor of the spin-off and that the spin-off

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