“Real Estate Industry is SHAKING”- California Approves State Farm Homeowners Insurance Rate Increase

California just approved a 17% homeowners insurance rate hike for State Farm, with renters seeing increases as high as 38%. Experts say this could devastate the real estate market, as rising costs push buyers out of eligibility. Tom Ellsworth breaks down the economic dominoes—from depleted insurance surpluses to failed home closings—while PBD questions if California is even livable anymore.