JAY, Senior Vice President, California Polytechnic State University discussed on Under The Hood


High net worth individuals developers and borrowers. Hey, let's Sarah sweet spot. Previously is a senior vice president at balance sheet manager j developed relationship with over three hundred financial institutions throughout the United States. Balance-sheet manager was established in nineteen and nine to create a national platform for banks and financial institutions previously. He manage key client areas for Mellon Bank and Prudential Securities. Nj graduated from California polytechnic state university with a degree in finance and economics. So that said he knows what he's doing. So without further. Argumentation welcome to the radio nation. Jay. Moran. Thanks for having me again. I welcome. And you know, as I said, the real state news is actually what we're going to be discussing. So the acronym is AD. You is that correct. Yeah. So, you know, the legal term is accessible accessory dwelling unit. You know, some people might call him a granny flat in my unit. Your backyard cottage, you know, secondary unit in the backyard or in finding existing falling within a single family home. What makes it so important right now. And what do you think was the cause of this movement? Well, so that's eighty you. But placing came from Sacramento in one of the big pushes from Jerry Brown. And then I think that's gonna be passed on to Gavin Newsom. Our new mayor is increase the housing stock excessively in supply constrained markets such as the bay area, and when the state modified their EDU in twenty eighteen what they really wanted to do with bypass local ordinances it really make easier for homeowners to expand and add the granny or in my unit into their existing building. So one of the things that that does is if you're in a jurisdiction that let's say not too not too eager to extend you. That's the state law. Bypasses local ordinances, though, in the fact that you're living in the suburbs..

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