Real Estate News 05/19/2025

Today’s News Synopsis:

In The News:

CBS News – “California approves State Farm’s 17% increase in home insurance premiums in wake of L.A. wildfires” (05-14-25)

“According to the California Department of Insurance, administrative Judge Karl Seligman believed that State Farm had evidence of “extraordinary financial distress.”“

Yahoo Finance – “It takes a six-figure salary to afford rent in more cities than ever before” (05-12-2025)

“8 metro areas now require earning at least $100,000 to rent comfortably, according to new Zillow data.”

Bankrate –  “Bankrate’s 2025 Home Affordability Report“ (05-14-25)

“For many American homeowners, the decision to buy a home has worked out well. Seven out of 10 (70 percent) say they would buy their current home again, according to Bankrate’s 2025 Homeowner Regrets Survey. That’s in line with a similar survey in 2024 that found 69 percent of homeowners felt the same way.”

CNBC – “Here’s exactly how unaffordable today’s housing market is — and where it’s getting worse“ (05-15-25)

“A new report from the National Association of Realtors and Realtor.com breaks down affordability and supply, shedding light on exactly where the pain points are in the market.”