Overview

• Governor Gavin Newsom signed an executive order prohibiting unsolicited, undervalued real estate offers in wildfire-affected areas of California for three months.
• The order aims to protect property owners from opportunistic buyers offering below-market prices for land damaged by the recent wildfires.
• Senator Ted Cruz criticized the measure, arguing it would hinder victims' ability to sell their properties and slow recovery efforts in Los Angeles.
• Newsom defended the order, labeling such unsolicited offers as predatory and emphasizing that it does not prevent voluntary sales at fair market value.
• The wildfires have caused significant destruction, with at least 25 fatalities, over 13,000 properties destroyed, and billions of dollars in damages reported.