California's Bold Move: State Backs Modular Home Insurance
California News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
California Dives into Housing Construction Insurance: A Game-Changer for Modular Homes
California is making waves in the housing market by stepping into the construction insurance realm, aiming to alleviate the states severe housing crunch. Lawmakers have introduced Assembly Bill 2166, which positions the state as a guarantor for insurance payouts for developers and lenders investing in modular construction. This move is expected to boost the factory-built home industry, offering quicker builds, safer job sites, and reduced costs to make housing more affordable. However, the bill lacks specifics on risk exposure and payout triggers, and its success hinges on its first committee hearing in late April.
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