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~ In the wake of the devastating firestorms that have ravaged the Los Angeles area, Governor Gavin Newsom has taken action to protect fire victims from opportunistic and predatory real estate speculators. On January 14, 2025, Governor Newsom issued an executive order to prevent these speculators from making unsolicited and undervalued offers to families impacted by the fires.
The Governor's order comes after reports of these predatory investors taking advantage of vulnerable victims by offering fast cash for their destroyed properties. This not only endangers the financial well-being and security of these families but also threatens the character and vibrancy of their communities.
At a press conference held at AME Church in Pasadena, Governor Newsom stated, "As families mourn, the last thing they need is greedy speculators taking advantage of their pain." He went on to say that he has personally heard from community members and victims who have received such offers while their homes were still burning. The Governor made it clear that he will not allow these developers to exploit working-class communities during a time when they need support more than ever before.
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The executive order specifically targets hard-hit zip codes in Los Angeles County, including Altadena, a working-class neighborhood that has been severely affected by the Eaton Fire. This community has suffered damage or destruction to its downtown area, places of worship and cultural centers, businesses, and likely thousands of family homes.
Under this order, it will be unlawful for anyone to make unsolicited undervalued offers to purchase property in these specified zip codes for a period of three months. The Department of Real Estate and other state agencies will also provide resources and information to educate the public about their rights under this law. Violations can be reported to the Attorney General's office for prosecution.
This executive order is modeled after a similar one issued by Hawaii Governor Josh Green after wildfires destroyed the town of Lahaina in 2023. It aims to preserve local communities and protect residents from exploitation.
In addition to this order, Governor Newsom has also mobilized debris removal teams to begin clearing the affected neighborhoods as soon as it is safe to do so. He has also signed an executive order to assist displaced students and schools in getting back on track.
As Southern California braces for dangerous winds, the state continues to provide unprecedented resources to respond to the fires in the Los Angeles area. With these measures in place, Governor Newsom is determined to support and protect those affected by the firestorms and help them rebuild their lives.
The Governor's order comes after reports of these predatory investors taking advantage of vulnerable victims by offering fast cash for their destroyed properties. This not only endangers the financial well-being and security of these families but also threatens the character and vibrancy of their communities.
At a press conference held at AME Church in Pasadena, Governor Newsom stated, "As families mourn, the last thing they need is greedy speculators taking advantage of their pain." He went on to say that he has personally heard from community members and victims who have received such offers while their homes were still burning. The Governor made it clear that he will not allow these developers to exploit working-class communities during a time when they need support more than ever before.
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The executive order specifically targets hard-hit zip codes in Los Angeles County, including Altadena, a working-class neighborhood that has been severely affected by the Eaton Fire. This community has suffered damage or destruction to its downtown area, places of worship and cultural centers, businesses, and likely thousands of family homes.
Under this order, it will be unlawful for anyone to make unsolicited undervalued offers to purchase property in these specified zip codes for a period of three months. The Department of Real Estate and other state agencies will also provide resources and information to educate the public about their rights under this law. Violations can be reported to the Attorney General's office for prosecution.
This executive order is modeled after a similar one issued by Hawaii Governor Josh Green after wildfires destroyed the town of Lahaina in 2023. It aims to preserve local communities and protect residents from exploitation.
In addition to this order, Governor Newsom has also mobilized debris removal teams to begin clearing the affected neighborhoods as soon as it is safe to do so. He has also signed an executive order to assist displaced students and schools in getting back on track.
As Southern California braces for dangerous winds, the state continues to provide unprecedented resources to respond to the fires in the Los Angeles area. With these measures in place, Governor Newsom is determined to support and protect those affected by the firestorms and help them rebuild their lives.
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