Fires in California – The Governor of California bans all real estate speculation for three months

The executive order issued by the Californian governor prohibits any unsolicited offers for real estate at a price lower than the market value before the fires. Such a provision had already been put in place in Hawaii after the severe fires which ravaged the island of Maui in 2023.

“As families grieve, the last thing they need is for venal speculators to take advantage of their pain. I have heard testimonies from victims who have received unsolicited and abusive offers from speculators offering prices well below market value, sometimes while their homes were burning,” Gavin Newsom said in a statement. “We will not allow greedy developers to defraud these families when they need support more than ever.”