New Law Aims To Increase CA Home Ownership

CALIFORNIA — A bill prompted by the Moms 4 Housing occupation of a vacant West Oakland home late last year and signed by Gov. Gavin Newsom this week aims to increase homeownership in the state.

Senate Bill 1079, introduced by state Senate Majority Whip Nancy Skinner, D-Berkeley, requires foreclosed homes to be sold individually at auction rather than bundled and sold to a single buyer.

Following the Great Recession, corporations snatched up large numbers of homes in bundled foreclosure sales.

Between 2006 and 2012, the number of owner-occupied single-family homes in California dropped by 320,000, while the number of renter-occupied single-family homes jumped by 720,000, according to the senator’s office.

“SB 1079 sends a clear message to Wall Street: California homes are not yours to gobble up; we won’t tolerate another corporate takeover of housing,” Skinner said in a statement.

Four homeless women in late 2019 moved themselves into a

Read More Read more

Royal Gold to Sale Ownership Interest in Peak Gold Project

Royal Gold, Inc. RGLD has entered into an agreement with Kinross Gold Corporation KGC to sell its shareholding interest in the Peak Gold joint-venture project in Alaska as well as common share holding in Contango Ore, Inc. for cash proceeds of total $61.3 million and increased royal interests.

Royal Gold will receive $49.2 million for the sale of a 40% ownership interest in Peak Gold, LLC, the owner of the Peak Gold project and $12.1 million for selling its holding of 809,744 shares in Contango, Royal Gold’s partner in Peak Gold, LLC.

Additionally, Royal Gold will receive an incremental 28% net smelter return (NSR) royalty on silver produced from the current resource area and an incremental 1% NSR royalty on certain State of Alaska mining, owned by Contango. This will increase Royal Gold’s royalty in this area from 2% to 3%.

Following the deal’s completion, Kinross will be the Peak

Read More Read more

New Law Aims To Increase Individual Home Ownership In California

A bill prompted by the Moms 4 Housing occupation of a vacant West Oakland home late last year and signed by Gov. Gavin Newsom on Monday aims to increase homeownership in the state.

Senate Bill 1079, introduced by state Senate Majority Whip Nancy Skinner, D-Berkeley, requires foreclosed homes to be sold individually at auction rather than bundled and sold to a single buyer.

Following the Great Recession, corporations snatched up large numbers of homes in bundled foreclosure sales. Between 2006 and 2012, the number of owner-occupied single-family homes in California dropped by 320,000, while the number of renter-occupied single-family homes jumped by 720,000, according to the senator’s office.


“SB 1079 sends a clear message to Wall Street: California homes are not yours to gobble up; we won’t tolerate another corporate takeover of housing,” Skinner said in a statement.



Four homeless women in late 2019 moved themselves into a vacant West

Read More Read more