California housing affordability remained near historic lows in the third quarter, with just 19% of households able to afford a median-priced, existing single-family home, the California Association of Realtors said Friday.

The percentage was unchanged from the second quarter and the third quarter of 2025, as lower home prices helped offset higher mortgage rates and kept monthly housing costs flat from the prior quarter.

Despite the quarterly stability, affordability remained challenging as mortgage rates climbed and home prices stayed elevated, according to C.A.R.

With inflation likely to remain high in the near term, mortgage rates may not moderate much over the next couple of months, continuing to challenge purchasing power for prospective homebuyers.

The minimum qualifying household income needed to purchase a median- priced existing single-family home statewide was $228,000 in the third quarter, unchanged from the previous quarter and $4,400 higher than a year ago.

The corresponding monthly mortgage payment, including principal, interest, taxes and insurance, also held steady at $5,700, although it increased 2.0% from third-quarter 2025.

The income required to purchase a typical California home has now exceeded $200,000 in 15 of the past 16 quarters. California’s monthly housing payment also remained more than twice the national average of $2,760, C.A.R. said Friday.

In the Los Angeles metro area, an existing single-family home cost $847,030 in the third quarter, requiring monthly mortgage payments of $5,390, and a minimum qualifying income of $215,600, according to the association.

Homes in Los Angeles County cost $958,450, requiring monthly mortgage payments of $6,100, and a minimum qualifying income of $244,000, according to the association.

More information can be found at car.org/.

October 30 online meeting will give local business owners a forum to discuss rebuilding, permitting and economic recovery following the Eaton Fire

The Altadena Chamber of Commerce & Civic Association will hold its weekly Business Coffee Chat on Friday, Oct. 30, from 9:30 to 10 a.m., providing an online forum for local business owners navigating recovery from the January 2025 Eaton Fire.

The free meeting will take place on Zoom. According to the Chamber’s website, the recurring Friday sessions feature updates from the Los Angeles County Department of Economic Opportunity, which oversees several programs supporting Altadena’s economic recovery.

Organizers describe the Coffee Chat as an open forum where business owners and operators can share concerns, experiences and information about challenges facing the community.

The meeting comes as the county continues offering rebuilding and business assistance through its Altadena Commercial Concierge Program, announced by the Department of Economic Opportunity in a June 25 news release.

The program provides permitting assistance, individualized business consulting and connections to financial and technical resources for qualifying Altadena businesses, nonprofit organizations and commercial property owners.

Under its Altadena SmallBiz Permit Express component, eligible participants are assigned a dedicated representative to help navigate county permitting requirements, coordinate meetings with county departments and address issues that could delay commercial rebuilding projects.

The county has established a target of reducing permitting approval times by 25% across participating departments. That figure represents a program goal, not a documented reduction already achieved.

The program also provides individualized technical assistance through business consultants who assess participants’ recovery needs, develop action plans and offer continuing guidance on operations, finances and other business concerns.

According to the county’s program guidelines, applicants generally must have fewer than 100 employees and average annual revenue of no more than $19 million over the previous three tax years. Additional eligibility requirements depend on the service requested.

The Chamber is also encouraging local businesses to complete the county’s Altadena Commercial Recovery Survey, which it says will help inform continuing recovery assistance.

Friday’s Coffee Chat will be conducted virtually rather than at the Chamber’s office in the Altadena Community Center.

Participants can access the Zoom meeting through the Chamber’s website at www.altadenachamber.org. The meeting ID is 881 9070 5729.

The Altadena Chamber can be reached at (626) 794-3988.

Need to know: Altadena Chamber Business Coffee Chat, Friday, Oct. 30, 9:30–10 a.m. Online via Zoom. Admission is free.

The pace of home sales dipped across California and the Southland last month as rising mortgage rates and persistent affordability challenges weighed on buyer demand, the California Association of Realtors said Monday.

Sales of existing, single-family homes in California totaled 260,410 in September on a seasonally adjusted annualized rate, down 3.4% from 269,620 in August and down 6.5% from 278,540 in September 2025.

Southern California recorded the largest annual decline at 9.1%, according to C.A.R.

In Los Angeles County, sales were down 10.9% from one year ago, but up 5.4% from last month. In Orange County, sales were down 2% from one year ago and .7% from August. The county numbers are not seasonally adjusted.

“As we move into fall, the market feels a little less rushed, giving buyers more time to carefully consider their options,” said C.A.R. President Tamara Suminski, a Southern California broker and realtor. “Mortgage rates and affordability remain challenging, but with competition easing, well-prepared buyers may have more room to explore their options, negotiate and focus on finding the right home rather than simply hurrying to make an offer.”

Prices declined slightly in September statewide, but rose in Los Angeles and Orange counties.

The average price of an existing, single-family home in California fell from $901,420 in August to $899,720 in September. In Los Angeles County, the average price went from $946,950 in August to $994,670 last month. The Los Angeles metro area saw a slight increase as well, from $850,000 to $855,000.

Orange County’s average price rose from $1.452 million to $1.48 million.

The county with the highest median home price in California in September was Mateo County at $2.327 million. The lowest median price was Lassen County’s $237,500.

More information can be found at car.org/.

Nearby Hollywood Burbank Airport will open its new main terminal Tuesday. The airport is owned and operated by the Burbank-Glendale-Pasadena Airport Authority, a joint-powers agency. [HBA rendering]

A new seven-level parking structure and the valet service open directly across from the terminal the same day.

The airport is owned and operated by the Burbank-Glendale-Pasadena Airport Authority, a joint-powers agency. Each of the three cities appoints three of its nine commissioners. Its president is Pasadena Councilmember Tyron Hampton.

“We want people to come here. We want people to see this experience,” Hampton said during an Oct. 5 preview.

One central building replaces the old A and B arrangement. Inside the entrance, ticketing is to the right and the eight-lane security checkpoint is straight ahead. Baggage claim, with three carousels, is to the left. Passengers still board planes outdoors; there are no jet bridges.

Airlines serving the airport include Southwest, Alaska, American, Delta, United, JetBlue, Breeze, Allegiant and Frontier.

“The two big things were: number one, keep it convenient. Number two, keep airfield boarding — no jet bridges,” airport spokesman Mike Christensen told SFGATE.

Other features include:

• wider corridors and larger waiting areas
• more seating, with wireless charging at gate seating tables
• larger restrooms
• an open-air bar just past security
• animated and LED information displays
• interlocking doors at the secure-side exit, designed to prevent backtracking
• natural light and floor-to-ceiling windows
• terrazzo floors in the ticketing hall, where ceilings rise to 48 feet
• current accessibility requirements built into the design

“This terminal has everything. It’s got enough seating. It’s got the power ports,” Rep. Laura Friedman said at the ribbon-cutting.

Corgan and CannonDesign were the architecture and design team. The architectural concept, called “The Icon,” uses a canopy that evokes a movie screen, columns inspired by searchlights and star-like ceiling lights. Two 16-foot illuminated “Electra” sculptures honor the Lockheed Electra aircraft and Amelia Earhart. Artist Glenn Kaino’s installation “When We Reflect” refers to camouflage that incarcerated Japanese Americans made at Santa Anita during World War II.

“You can see just exactly that, that they didn’t want to lose that sort of nostalgic feeling from the other terminal,” California Transportation Secretary Toks Omishakin said at the ribbon-cutting.

“This terminal is a reflection of this community,” said Ernesto Medrano, executive secretary of the Los Angeles/Orange Counties Building and Construction Trades Council, at the ribbon-cutting.

The building is all-electric and is pursuing LEED Gold certification. It has a 750-kilowatt rooftop solar system, uses reclaimed water for irrigation, uses electric ground equipment and is landscaped with native and adaptive plants.

The terminal keeps the 14 gates that Burbank voters approved in Measure B in 2016. It replaces a complex whose original facilities date to 1930 and which sits too close to the runways under current Federal Aviation Administration standards. Passenger service there is scheduled to end Monday, Oct. 12. The old terminal also falls short of current seismic, building code and accessibility requirements. The new building is about 53% larger.

The new gates are standardized for modern aircraft. “Airlines no longer have to ask, ‘Do I have an aircraft that will fit in Burbank?'” airport Executive Director John Hatanaka told SFGATE.

The announced food and retail lineup includes Pasadena’s Jones Coffee, a Pasadena-oriented shop featuring Octavia’s Bookshelf, Poquito Mas and Flavortown by Guy Fieri. Crews were still finishing several concession spaces at the Oct. 5 ribbon-cutting, so not every restaurant and shop may be open the first morning.

The lineup also includes West Coast Customs’ SmashBurger, Massis Kabob, Perry’s Joint and the chef-driven concepts Farmtable Bistro, Socalo, Osteria Fiorella/Pizzeria Salvy and Slanted Door. Metropolitan Culinary Services, a Burbank company, has served the airport since 1992.

The parking structure has about 2,000 spaces, 400 of them for valet. Parking is open 24 hours a day, with a maximum stay of 30 days. Self-park entry is ticketless, so drivers must use the same credit card to enter and exit. Advance parking reservations were unavailable in September during a change of parking operators, while drive-up parking remained available. Electric-vehicle charging in the self-park area costs $0.50 per kilowatt-hour, and the airport has about 310 charging ports. Valet customers can request charging for a handling fee.

Rental cars remain at the Regional Intermodal Transportation Center, with a shuttle to the terminal. A new rideshare pickup lot is near the terminal. The Burbank Airport–North Metrolink station connects to the terminal by a pedestrian path and an on-demand shuttle. Drivers picking up passengers may not wait at the curb.

Parking questions can be directed to askparking@bur.org or 818-840-8838.

Nearby Hollywood Burbank Airport will open its new main terminal Tuesday. The airport is owned and operated by the Burbank-Glendale-Pasadena Airport Authority, a joint-powers agency. [HBA rendering]

A new seven-level parking structure and the valet service open directly across from the terminal the same day.

The airport is owned and operated by the Burbank-Glendale-Pasadena Airport Authority, a joint-powers agency. Each of the three cities appoints three of its nine commissioners. Its president is Pasadena Councilmember Tyron Hampton.

“We want people to come here. We want people to see this experience,” Hampton said during an Oct. 5 preview.

One central building replaces the old A and B arrangement. Inside the entrance, ticketing is to the right and the eight-lane security checkpoint is straight ahead. Baggage claim, with three carousels, is to the left. Passengers still board planes outdoors; there are no jet bridges.

Airlines serving the airport include Southwest, Alaska, American, Delta, United, JetBlue, Breeze, Allegiant and Frontier.

“The two big things were: number one, keep it convenient. Number two, keep airfield boarding — no jet bridges,” airport spokesman Mike Christensen told SFGATE.

Other features include:

• wider corridors and larger waiting areas
• more seating, with wireless charging at gate seating tables
• larger restrooms
• an open-air bar just past security
• animated and LED information displays
• interlocking doors at the secure-side exit, designed to prevent backtracking
• natural light and floor-to-ceiling windows
• terrazzo floors in the ticketing hall, where ceilings rise to 48 feet
• current accessibility requirements built into the design

“This terminal has everything. It’s got enough seating. It’s got the power ports,” Rep. Laura Friedman said at the ribbon-cutting.

Corgan and CannonDesign were the architecture and design team. The architectural concept, called “The Icon,” uses a canopy that evokes a movie screen, columns inspired by searchlights and star-like ceiling lights. Two 16-foot illuminated “Electra” sculptures honor the Lockheed Electra aircraft and Amelia Earhart. Artist Glenn Kaino’s installation “When We Reflect” refers to camouflage that incarcerated Japanese Americans made at Santa Anita during World War II.

“You can see just exactly that, that they didn’t want to lose that sort of nostalgic feeling from the other terminal,” California Transportation Secretary Toks Omishakin said at the ribbon-cutting.

“This terminal is a reflection of this community,” said Ernesto Medrano, executive secretary of the Los Angeles/Orange Counties Building and Construction Trades Council, at the ribbon-cutting.

The building is all-electric and is pursuing LEED Gold certification. It has a 750-kilowatt rooftop solar system, uses reclaimed water for irrigation, uses electric ground equipment and is landscaped with native and adaptive plants.

The terminal keeps the 14 gates that Burbank voters approved in Measure B in 2016. It replaces a complex whose original facilities date to 1930 and which sits too close to the runways under current Federal Aviation Administration standards. Passenger service there is scheduled to end Monday, Oct. 12. The old terminal also falls short of current seismic, building code and accessibility requirements. The new building is about 53% larger.

The new gates are standardized for modern aircraft. “Airlines no longer have to ask, ‘Do I have an aircraft that will fit in Burbank?'” airport Executive Director John Hatanaka told SFGATE.

The announced food and retail lineup includes Pasadena’s Jones Coffee, a Pasadena-oriented shop featuring Octavia’s Bookshelf, Poquito Mas and Flavortown by Guy Fieri. Crews were still finishing several concession spaces at the Oct. 5 ribbon-cutting, so not every restaurant and shop may be open the first morning.

The lineup also includes West Coast Customs’ SmashBurger, Massis Kabob, Perry’s Joint and the chef-driven concepts Farmtable Bistro, Socalo, Osteria Fiorella/Pizzeria Salvy and Slanted Door. Metropolitan Culinary Services, a Burbank company, has served the airport since 1992.

The parking structure has about 2,000 spaces, 400 of them for valet. Parking is open 24 hours a day, with a maximum stay of 30 days. Self-park entry is ticketless, so drivers must use the same credit card to enter and exit. Advance parking reservations were unavailable in September during a change of parking operators, while drive-up parking remained available. Electric-vehicle charging in the self-park area costs $0.50 per kilowatt-hour, and the airport has about 310 charging ports. Valet customers can request charging for a handling fee.

Rental cars remain at the Regional Intermodal Transportation Center, with a shuttle to the terminal. A new rideshare pickup lot is near the terminal. The Burbank Airport–North Metrolink station connects to the terminal by a pedestrian path and an on-demand shuttle. Drivers picking up passengers may not wait at the curb.

Parking questions can be directed to askparking@bur.org or 818-840-8838.

California car shoppers will gain new protections Thursday under a law by state Sen. Ben Allen, D-Santa Monica, requiring dealers to provide the full price of a vehicle up front and giving used-car buyers three days to return a vehicle.

Senate Bill 766, known as the California CARS Act, also requires dealers to disclose that add-ons are optional and prohibits them from offering add-ons that provide no value to the customer, according to Allen’s office.

The three-day return period gives used-car buyers time to have a vehicle inspected or check for unrepaired safety recalls. Dealers may charge a restocking fee, and a vehicle cannot be driven more than 400 miles before it is returned.

“For years, car shoppers have been mistreated and duped into purchasing unsafe vehicles or vehicles with add-ons and features they didn*t know about, saddling them with unnecessary debt and risking their lives on the road,” Allen said. “These practices will finally come to an end in California.”

Allen’s office cited the experience of David Lappen, who said a dealership added $5,000 in options to the advertised price of a used electric vehicle. The options included catalytic converter etching and free oil changes, which Lappen said did not apply to the vehicle.

The office also cited Anthony Vento, who said he bought a used vehicle with an unrepaired safety recall defect after the dealership told him in writing that it had checked the car’s recall status.

“The California CARS Act will give California’s used car buyers a new 3-day window of opportunity to check for unrepaired safety recalls and take unsafe cars back to the dealership for a refund. That can be a lifesaver,” Vento said.

Allen represents the 24th Senate District, which includes the Westside, Hollywood, the coastal South Bay and Santa Monica Mountains communities of Los Angeles County.

California’s economy continues to outpace the nation in economic growth despite a weak labor market, while inflation and elevated interest rates remain concerns nationally, according to a UCLA Anderson Forecast being released Wednesday.

The September forecast found California’s economy grew at an annual rate of 3.7% in the first quarter of 2026, compared with 2.1% nationally, with only Washington state growing faster.

Over the year ending in the first quarter, California’s gross domestic product grew 3.3%, compared with 2.7% nationally, according to the forecast.

But the state’s economic growth has not translated into broad employment gains. California’s unemployment rate stood at 5.1% in August, the highest of any state and one percentage point above the national rate, according to the forecast.

UCLA economists said the “employment recession” they identified six months ago has continued even as California has outperformed the nation in the production of goods and services.

Payroll employment increased by 138,500 jobs in California over the 12 months ending in August, while a separate household survey showed 246,700 fewer Californians employed and a decline of 351,100 people in the state’s labor force over the same period.

Job growth so far this year has been concentrated largely in healthcare and social services, education and retail, sectors the forecast does not expect to provide the same level of support going forward.

The forecast said stronger employment growth will increasingly depend on technology, aerospace and other durable-goods manufacturing. Tech employment continues to decline, although at a moderating pace, while aerospace is benefiting from increased commercial aircraft production, defense purchases, space exploration and satellite production.

UCLA economists expect AI-related hiring and the end of contraction elsewhere in the technology sector to produce employment growth beginning in 2027 and accelerating in 2028.

California’s unemployment rate is forecast to average 5.2% in 2026 before declining to 4.9% in 2027 and 4.4% in 2028. Total employment is expected to decline 0.2% this year before growing 0.6% in 2027 and 1.8% in 2028.

Housing construction is expected to remain constrained. The annual pace of permits has remained around 110,000 units, with elevated mortgage rates, tariffs on imported building materials and the loss of construction workers through deportations expected to continue limiting construction.

The forecast expects 116,000 residential permits this year, rising to 118,000 by the end of 2028.

Nationally, UCLA economists expect economic growth to remain above 2% for the rest of 2026 and near 2% in 2027 and 2028, supported partly by continued investment in artificial intelligence infrastructure and rising valuations of technology companies.

The forecast estimates that high-tech investment and the wealth effect associated with AI-related equities together account for nearly one percentage point of core gross domestic product growth.

Inflation is expected to increase again this winter, with headline inflation moving toward 4%. Core inflation is expected to approach 2.9% in early to mid-2027 before gradually declining toward the Federal Reserve’s 2% target.

The forecast expects the Federal Reserve to raise its benchmark interest rate by another quarter-point in December and make no further changes through 2027, barring another adverse supply shock.

Utility reports nearly 4,900 claims as survivors’ advocates dispute its offers and City of Pasadena presses its lawsuit

Southern California Edison said Sept. 24 that it has paid more than $525 million to Eaton Fire claimants and that it will send representatives of its compensation program to local events in Pasadena before the program’s Nov. 30 claim deadline.

SCE team members will be at the State of the Black Community event from 9 a.m. to 3 p.m. Saturday, Sept. 26, at First AME Church, 1700 N. Raymond Ave., in Pasadena. Edison representatives will be at other local events throughout October.

As of Sept. 24, nearly 4,900 claims had been submitted on behalf of more than 14,900 individuals, trusts and legal entities, and nearly 2,800 offers totaling more than $970 million had been extended, the utility said.

Eligible residents and businesses that do not file by Nov. 30 will not learn what the program might pay them, the company said.

Survivors’ advocates have criticized the program’s terms, and the City of Pasadena is among the government plaintiffs suing Edison over the fire.

The voluntary Wildfire Recovery Compensation Program, which opened Oct. 29, 2025, covers total and partial structure loss, commercial property loss, business interruption, smoke and ash damage, physical injury and deaths, according to SCE.

Submitting a claim and receiving and evaluating an offer do not waive a claimant’s rights, the company said.  However, a claimant who accepts an offer signs a settlement agreement that includes a promise not to sue further, according to SCE.

SCE said it delivers offers an average of 36 days after receiving a substantially complete claim. Claimants who believe a Fast Pay offer does not reflect their losses may request a Detailed Review, but only if they file by Nov. 30, the utility said. A Detailed Review can take up to nine months, and there is no guarantee of a higher offer, LAist reported.

More than 3,700 claimants have reportedly been paid out a total of more than $525 million, with many more in process, according to SCE.

“As the Nov. 30 deadline approaches, we encourage community members to understand all of the options available to them,” said Pedro J. Pizarro, president and chief executive of Edison International, SCE’s parent company.

The events “provide a convenient way to ask questions, get support and determine the next steps that are right for their situation,” he said.

The Eaton Fire Survivors Network, a grassroots group, has called the program’s offers “pennies on the dollar.” Survivors have also objected that the program requires claimants to give up lawsuits, blocks later health claims and caps payments too low, CalMatters reported in January.

“That’s a drop in the bucket,” Andrew Wessels, the network’s strategy director, told the Daily News in January, when SCE had extended 210 offers.

SCE faces lawsuits from Los Angeles County, the cities of Pasadena and Sierra Madre and the federal government.

In January, after SCE filed cross-complaints naming public agencies including Pasadena Water and Power, the city said “Edison should accept responsibility for the extensive damage it has caused,” ABC7 reported. SCE told ABC7 that the cross-complaints are “a standard legal process that allows the court to fully examine all potential contributing factors and responsible parties.” SCE has acknowledged that circumstantial evidence suggests one of its idled transmission lines could have ignited the fire, Reuters reported.

SCE team members will attend the Altadena Rotary Club Pancake Breakfast on Saturday, Oct. 3, at 2270 N. Lake Ave., and the Pasadena Farmers Market at Victory Park, 2575 Paloma St., from 8:30 a.m. to 12:30 p.m. Saturday, Oct. 17. The utility has also scheduled 6 p.m. sessions on Tuesday, Oct. 13, a rebuild-focused meeting in Irwindale; Wednesday, Oct. 28, virtual; Thursday, Nov. 12, in person; and Thursday, Nov. 19, virtual.

NEED TO KNOW

Event: Southern California Edison Wildfire Recovery Compensation Program claim deadline. When: Monday, Nov. 30, 2026. Where: Claims are filed online, with one-on-one help by phone or in person. For more, call 888-912-8528 or visit https://www.sce.com/directclaims.

Houses sit within the forest in South Lake Tahoe near Pioneer Trail and Jicarilla Drive on Sept. 26, 2024. Photo by Miguel Gutierrez Jr., CalMatters

Insurance companies are starting to write new policies in California again after years of holding back as wildfire risk climbed higher.

The state Insurance Department says that means outgoing Commissioner Ricardo Lara’s new regulations, intended to boost insurance availability, are working. Each time a company declares its plans to sell policies again, the department touts it as a win. But the state has not released the number of new policies the companies have written so far.

Enter Consumer Watchdog, the advocacy group that often butts heads with the department. It released an estimate of new policy commitments: 12,189 since January 2025, when Lara’s so-called sustainable insurance strategy went into effect. The strategy allows insurers to use catastrophe modeling, which they say more adequately takes risk into account because it includes forward-looking models, and to factor in reinsurance costs when setting their rates.

Consumer Watchdog, whose numbers come from combing through insurance companies’ rate filings, says that number is low, considering insurers have requested or secured $571 million in rate increases under the new regulations.

The insurance department disagrees with the group’s analysis, saying it intends to release its own data and analysis, and discounting the group’s numbers as “incomplete and premature.”

Ben Armstrong, Consumer Watchdog’s actuary, is tracking voluminous but publicly available rate filings. He looked at insurers’ statements about the  number of new policies they promise to write, and compared the new filings with each company’s previous rate filings. Armstrong told CalMatters it’s “not an exact science” because the filings mention commitments, not actual sales, and in some cases don’t include an exact timeline.

The new rules allow insurers to factor in catastrophe models and their reinsurance costs as long as they commit to increasing sales in high-risk areas. Of the 10 companies that requested rate increases under the new rules, only five have committed to selling more policies, the group’s analysis shows.

The regulations call for insurance companies to choose one of these options: Write 85% of their market share in high-risk areas; grow their policies 5% in such areas; or increase their number of policies 5% by taking customers out of the FAIR Plan. Some of the companies that have requested or secured rate increases claim they already meet the 85% threshold.

“What we’re looking at is the reality right now for Californians who have been saddled with rate hikes for the promise of more policies in the future,” said Carmen Balber, executive director of Consumer Watchdog.

The sustainable insurance strategy so far

The homeowner premium increases insurers have sought in California, along with the number of policies they have committed to add in high-risk areas.

The state has seen its deadliest and most destructive fires in the past decade. Several years ago, insurance companies started complaining that California, which has authority over premium increases, was not approving them quickly enough to allow insurers to match their rates to the growing risk of climate change and wildfires. Some companies stopped writing new policies, or decided not to renew existing ones. Lara’s new regulations — which include provisions championed by the insurance industry — aim to address the issue.

Balber said her group released its analysis to stress that the state needs to do more to ensure that fire-safe homes are getting insurance coverage. She said the number of new policies insurers committed to so far is “minuscule” compared with the number of policies in the last-resort FAIR Plan, which continues to grow, although at a slower pace. Property owners turn to the state-mandated, insurance-run alliance when they can’t buy policies elsewhere, so the higher the number of policies in the plan, the poorer the health of the main insurance market. As of June, the FAIR Plan still had about 697,000 active policies, up 157% since September 2022.

Michael Soller, spokesperson for the insurance department, said the department will release its analysis once it has looked at the overall market and the data it collects annually. He doesn’t know whether the department will release an analysis before Lara’s term expires in January. Californians will be voting for a new commissioner in November.

“Commissioner Lara has said the (sustainable insurance strategy) is not an overnight solution,” he said. “It’s a multiyear solution and recovery.”

David Russell, a professor of insurance and finance at Cal State Northridge, agreed with the department that Lara’s strategy will take time to work.

“Insurers are tiptoeing back into the market,” Russell said. “They’re doing it selectively. Those are still high-risk properties.”

Former Insurance Commissioner Dave Jones said Lara  could have required insurers to write more high-risk policies, especially considering the starting point was low because it was set after a period of non-renewals and no new policies.

Jones also mentioned that surplus lines — policies from companies that are not licensed or regulated by the state, and not backed by the state if they go bankrupt — are growing in California because availability remains an issue.

Soller did not dispute any specific numbers in Consumer Watchdog’s analysis. But he pointed to Mercury saying that its eight-year goal is to shift about 6.5% of FAIR Plan residential policies, in line with its market share, to standard homeowners policies. “That alone represents tens of thousands of new policies,” Soller said.

But as of now, Mercury’s filing shows that it has committed to writing just 2,107 new policies in distressed areas — so that’s what’s included in Consumer Watchdog’s analysis. The state approved an $85 million rate increase for the company.

The company that has secured the highest rate increase of more than $150 million, Farmers, has committed to writing 5,596 new policies.

“Availability is improving, but at a cost,” Russell said. “That was always going to be the case.”

California’s average home insurance costs have risen 5% so far this year, one of the biggest increases in the nation, according to insurance-comparison site Insurify. More than 8 million homeowners in the state have insurance policies, according to the insurance department.

CalMatters.org is a nonprofit, nonpartisan media venture explaining California policies and politics.

Altadena business owners can hear updates from the Los Angeles County Department of Economic Opportunity at the Altadena Chamber of Commerce & Civic Association’s free weekly Business Coffee Chat, held online at 9:30 a.m. Friday, Sept. 25.

Organizers describe the session as an open forum where local businesses share concerns, experiences and insights about Altadena’s recovery. Sessions are also scheduled for each Friday in October.

The session comes three months after the department launched the Altadena Commercial Concierge Program for businesses, nonprofits and commercial property owners recovering from the Eaton Fire. The program offers expedited permitting assistance, individualized technical assistance and connections to business resources and capital, the county said in a June 25 news release.

“The Altadena Commercial Concierge Program brings together expedited permitting, individual technical assistance and planning, and direct connections to County and community resources so impacted businesses and commercial property owners have a clearer, faster path to recovery,” Kelly LoBianco, director of the department, said in the release.

The Chamber is also urging owners to fill out the county’s Altadena Commercial Recovery Survey, saying the information is needed for county support to continue.

The Chamber, incorporated in 1924, is based at the Altadena Community Center, 730 E. Altadena Drive. The Pasadena Chamber of Commerce & Civic Association serves as fiscal sponsor for wildfire-related donations to the Altadena Chamber.

The Altadena Chamber of Commerce Business Coffee Chat takes place Friday, Sept. 25, at 9:30 a.m. Admission is free. The session is held online via Zoom, meeting ID 881 9070 5729. For more, call 626-794-3988 or visit altadenachamber.org.