California AG Charges Realtor® with Price Gouging, Women Lead Luxury Housing Boom, HUD Nominee Turner Pushes for Reform

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Rob Bonta Charges Realtor®

California Attorney General Rob Bonta has charged a Los Angeles-area real estate agent with price gouging after he allegedly raised the rent of a property by 38% following the devastating Eaton Fire. Mike Kobeissi, a Realtor® in La Cañada Flintridge, is accused of hiking the rental price from $8,700 to $12,000 when a couple who lost their home in the wildfire attempted to rent the property. Under California law, rent increases are capped at 10% for rental properties following a natural disaster.

Bonta called the alleged actions ‘unacceptable,’ warning that the Department of Justice will aggressively pursue anyone exploiting disaster victims. Kobeissi defended his actions, claiming the price increase was based on the property’s value and the demand in the area, citing a higher price in the local school district. Despite receiving higher offers from other prospective tenants, Kobeissi said the property was eventually offered to the fire victims for less than $10,000, with additional incentives like a free month’s rent and furniture.

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Women Lead Luxury Housing Boom

Women are increasingly dominating the luxury real estate market, with wealthy females now owning 15.2% of high-priced homes in the U.S., according to Coldwell Banker’s 2025 Trend Report. These ‘she-elites,’ women with a net worth of $5 million or more, are not just buying but also selling big-ticket properties as the market heats up. The luxury home price threshold hit a record $1.55 million last year, with women emerging as key decision-makers in the process.

The trend is being fueled by the growing influence of women in finance and technology, and younger women are poised to inherit massive wealth in the coming years. Women are increasingly buying luxury properties as investments, including vacation homes and income-generating rentals.

The rise of single women with no kids, known as SINKs, is also adding to the surge, as these women have more disposable income to invest in real estate. The numbers are clear—by 2030, women are projected to control the majority of the $30 trillion in assets held by aging baby boomers, shifting the balance of power in real estate and beyond.

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HUD Nominee Turner Pushes for Reform

The new administration’s nominee to lead the Department of Housing and Urban Development, Texas Congressman and former NFL player Scott Turner, has criticized the agency’s performance, saying it’s failing in its most basic mission. Speaking at a Senate hearing Thursday, Turner called the housing crisis ‘personal,’ reflecting on his own family’s struggles with government assistance and homelessness. While offering few specifics, Turner promised to streamline HUD, improve its efficiency, and make the Section 8 voucher program easier for landlords.

On the issue of affordable housing, Turner rejected the idea of more federal investment, arguing that HUD needs to better maximize its current funding. He also highlighted the role of burdensome regulations and high construction costs in driving up housing prices. When pressed on the proposed HUD budget cuts, Turner was noncommittal, focusing instead on helping people leave public assistance.

Turner also supported a controversial homelessness policy known as ‘housing first,’ which prioritizes providing shelter before addressing addiction or mental health issues. Senators’ questions mostly centered on affordable housing, but Turner stressed that fixing HUD will require systemic change and a return to in-person work for staff.

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