Hope Leitner, Realtor®, CRS

Consumers cannot be forced to waive right to make critical or disparaging statements about a business. This law prohibits a contract or proposed contract for the sale or lease of consumer goods or services from including a provision waiving the consumer’s right to make any statement regarding the seller or lesser or its employees or agents, or concerning the goods or services. It imposes civil penalties upon any person who violates the provisions of the law, of $2,500 for the initial violation and $5,000 for each subsequent violation, as well as an additional penalty of $10,000 if the violation was willful, intentional, or reckless in actions that may be brought by the consumer, the Attorney General, or a district attorney or city attorney. It does not prohibit or limit a person or business that hosts online consumer reviews or comments from removing a statement that is otherwise lawful to remove. Assembly Bill 2365 codified as Civil Code 1670.8. Effective January 1, 2015. ...

The recent housing crisis has prompted questions over whether home ownership is still a viable way toward greater wealth in this country. Confidence in home ownership was shaken, and many have had to turn to renting (the number of renters has increased nearly 25 percent since the housing crisis). The home ownership rate, in turn, has fallen from a peak of nearly 70 percent in 2004 to a two-decade low of 64.3 percent more recently. Still, researchers continue to find evidence that home ownership contributes to individual wealth. One example: The Center for Responsible Lending of Federal Reserve Board’s Survey of Consumer Finances recently found that median net worth of home owners in 2013 was $195,400, while at the same time the median net worth for renters was only $5,400. “Home ownership long has been central to Americans’ ability to amass wealth; even with the substantial decline in wealth after the housing bust, the net worth of home owners over time has significantly outpa...