On May 23, the Affordable Housing and High Road Jobs Act (AB 2011) passed the Assembly and will advance to the State Senate for a vote in June. Passing by 48-9, AB 2011 would allow affordable and mixed-income housing construction in areas originally zoned for commercial use. 

Unveiled in April by Assemblymember Buffy Wicks, D-Oakland, AB 2011 also stipulates that developers of these multi-family homes adhere to responsible wage and training standards for laborers. Some of those requirements include that every project must provide prevailing wages and that health benefits be offered on projects that consist of 50 or more units. 

“Today’s vote brings us one step closer to streamlining production of a huge amount of much-needed affordable housing,…

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NEW LISTING: 2 Bedroom Fixer-Upper in Pasadena!









If you're looking to invest in a fixer-upper in a great neighborhood, then take a look at this 840 sqft, 2Br/1Ba home in Pasadena. Sitting on a corner lot in the Lamanda Park neighborhood, this property includes a detached garage, copper plumbing, a tankless hot water heater, and a new electrical panel recently added in 2021. Property is financeable and FHA offers are welcome.

For more information and to request a tour, check out the listing here. 

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Obviously, the mortgage and real estate industries go hand-in-hand, so you should keep up with the latest news by checking our IET Capital Blog. Today, we posted about California's new Forgivable Equity Builder Loan program that was launched in April. If you're a first-time homebuyer, you might qualify for this 0% interest loan, so check out our blog post here to learn everything you need to know. 

Or, to find out more, you can email us or call (323) 412-9060 and we'll help you find out if you qualify!

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