San Francisco, California, Democrats discussed on Mottek on Money
More often KNX ten seventy NewsRadio. We've got sunshine all day long today. It'll be cloudy tomorrow. But the temperatures will still be warm sixty seven right now the Civic Center heading into the seventies tomorrow. We'll get up into the seventy s as well. Right now. Let's get back to more Motech on money. Both heckle money continues as Frank Motech. What's the outlook for California business the economy and big issues, including affordable housing next year? Under governor Gavin Newsom will be sworn into office next month. Let's talk about it. Now with the giants on the state's political stage. The audible Willie Brown junior speaker emeritus of the California state assembly and former mayor of San Francisco mayor thank you very much for joining us here this weekend and give us your reaction. What happened in the November sixth election where we go from here. Well. It's amazing to me. I knew the Democrats dominated California. But not like this election demonstrates that. They really do. They now have both houses of the legislature with super majorities in each house are picking up seats all over on the congressional side seats that I not in a dreamworld would think Democrats can ever win in Orange County. And in the valley. I'm suspecting that it's the economy, that's creating the problem and areas where Republicans used to dominate Democrats are having to relocate to those areas. Even though they still work and the core democratic areas they can afford the housing and the court democratic areas and so they relocated in the valley in Stockton. All in Fresno in Brazil, said while in Modesto, and I would tell you that only numbers aren't gonna get better for Democrats, Mary you moderated the final. Debate between John Cox and Gavin Newsom, obviously, they had two different completely different economic visions of California. So where do you think we're heading at this point? Well, I think that listen Newsome who is now the governor elect has been pretty smart and how he handled San Francisco he did not let when he served as mayor. He did not let the individuals that call themselves for Gresley lives and a look into redistributed. Well, then impose greater regulations on people who produce. Well, I don't think he's going to allow that to occur in Santa California. I think he is going to be somewhere near where Jerry Brown was if not to the right of Jerry Brown, portable housing seems to be the big issue right now. Can we address that they issue of four thousand is rooted and whether or not you somehow can facilitate folk on the permitting process right now, it takes some as as much as five years to get a building going in San Francisco, you could imagine carry him costs for that kind of a project, and then the whole business wants. The project is done. A you started projected five years earlier at X. And now you X plus five that kind of action needs to be addressed Jerry Brown. Tried to address it by get an Oakland exempt from some of the PA laws in some of the rules and regulations around environments Nissim will do you think we'll see some quick action on that. I know voters rejected the rent control in this last election as well. What's on the drawing board there in Sacramento to address some of the concerns that you just mentioned Volgas appropriately rejected that measure prop ten I was very much involved in opposing prop ten I was very much involved in cost to Hawkins to begin with? And I've been a major advocate of how the rent control actions or actually Endel incent franscisco. They have vacancy decontrol they have the opportunity for the rent. Born to actually include new things. It needs to be done improvements that need to be made. In addition there to the people who are the renters in San Francisco signed on to some pass through on the tax issue where there is affordable housing bonds of being produced of being approved all of that says management of the rent controlled process is possible. San Francisco the example, where it's not good is in Santa Monica and places like Berkeley, it creates a cap on whether or not anybody will build anything. Nobody is building in those two places because you can't get a return a fair return on your investment, you've got to consistently look at the potential for fair return on your investment, and within the framework of that you can do some things that keep the costs down the Willie L Brown junior speaker emeritus of the California state assembly former mayor of San Francisco most recently, the keynote speaker of the state associate. County retirement systems fall conference. Thank you very much for joining us here this weekend. Speaking of affordable housing a bit of a Ray of sunshine as far as mortgage rates are concerned come down this past week after hitting your eight year highs over the past year. Let's bring in Jeff laser and now the president mortgage, raider dot com. Also, Orange County. Register columnist Jeff give us an update and how the rates are looking. Now, the thirty year fixed is at four and a quarter percent at one point the fifteen year, conforming fixes at three and a half percent at one point five one arm. That's locked in for five years. Three three eighths percent at one point fading making forming high balances at three and three quarters at one point on the fifteen year and the thirty year high balances at four and three eighths percent at one point. Alright Jeff thank you very much for the update a preview the week ahead on the business scene. More straight ahead on Motech on bunny..