California Governor Signs Bill That May Raise HOA Fees as Part of Major Housing Reform Package

California Gov. Gavin Newsom has inked a series of bills to help California construct more starter homes and cut down on the cost of housing.Among the other bills Newsom signed at the end of the legislative session this week, he approved Assembly Bill 2050, which requires homeowners associations to maintain a minimum reserve contribution. That could improve safety and cut down on surprise assessments, but it may also increase HOA fees for millions of California homeowners.He also signed off on some, but not all, reforms sought by lawmakers after the Palisades and Eaton fires of January 2025, the most destructive in the state's history.In all, Newsom signed a package of over 30 housing bills aimed at reducing regulatory requirements to make it easier to build homes in the state. The package includes reforms that cut down on the number of reviews projects must go through and new standards for factory-built housing.The slate of bills also includes measures that advance redevelopments at the former Concord Naval Weapons Station and the Sports Arena site in San Diego, which between them promise 14,250 homes."Every Californian deserves a fair shot at a stable home—families shouldn’t have...