SACRAMENTO, Calif. (AP) – Tenants, affordable housing groups and local governments will soon get first crack at buying foreclosed homes in California.
A bill approved Monday by Gov. Gavin Newsom is designed to keep corporations from snapping up homes and letting some fall into disrepair as they did during the Great Recession.
It bars sellers of foreclosed homes from bundling them at auction for sale to a single buyer.
Democratic Sen. Nancy Skinner of Berkeley said her bill gives people who want to live in a house a fair shot at buying it.
