New Year, New Rules

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Every year, a ton of new laws take effect in California, including some that could impact your personal and household finances. Here’s a rundown of the changes from Patch California. Keep reading for our takes on some that might get missed…

CHIC (Pearl)

A number of the new rules have to do with consumer protections, including SB 1490, which requires food delivery platforms like DoorDash and Uber Eats to provide an itemized breakdown of their fees. This law also allows restaurants to remove themselves from delivery apps they never intended to use. And if you’re tired of following the breadcrumbs to cancel subscriptions you no longer want or need, it will be easier starting July 1 thanks to AB 2863, which requires companies like gyms and streaming services to let customers cancel their subscriptions in the same way they subscribed — more often than not with a single click.

GEEK (Kevin)

If you’re a mobile home owner who’s been battling with your HOA or park ownership over solar panels, then SB 1190 should help. This new law clearly stipulates your right to install a solar system just like any other homeowner in an HOA. (A loophole in a 1978 law previously allowed park owners to block you from doing so.) And in other news that could save you money, SB 1061 ensures medical debt is removed from your credit report so you’re “not penalized for the high costs of necessary healthcare," as the Governor’s office said. This law will also prevent lenders from using medical debt against you to deny a loan.

Shop ‘til your thumbs drop!

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According to an annual survey from the National Retail Federation, 200.4 million people did some shopping from Thanksgiving Day through Cyber Monday. That’s nearly 4 million more than last year and 18 million more than expected. Most of the increase was among online shoppers, who totaled 134.2 million. But Small Business Saturday drew a majority of retail activity ($59M) to brick-and-mortar stores. Get more numbers from the NRF report.

Number Talk: Confluence of Economic Indicators

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The three charts below show how real estate market cycles generally move in sync with other economic indicators such as financial markets, employment, and consumer confidence.

It’s important to note that these data points end in 2019 and don’t reflect the crazed volatility created by the global pandemic. As we’ve all seen, the housing market has experienced a complete rebound, but some economic sectors are still struggling to recover.