30-YR FIXED7.40%▬ 0.0015-YR FIXED6.71%▼ -0.0210-YR TREASURY5.10%▼ -0.0930-YR TREASURY5.43%▼ -0.095-YR TREASURY4.91%▼ -0.092-YR TREASURY4.77%▼ -0.05FED FUNDS4.00%▬ 0.00SOFR3.89%▲ +0.01DOW52,002▼ -175S&P 5007,659▼ -85Freddie Mac · U.S. Treasury · Federal Reserve via FRED®30-YR FIXED7.40%▬ 0.0015-YR FIXED6.71%▼ -0.0210-YR TREASURY5.10%▼ -0.0930-YR TREASURY5.43%▼ -0.095-YR TREASURY4.91%▼ -0.092-YR TREASURY4.77%▼ -0.05FED FUNDS4.00%▬ 0.00SOFR3.89%▲ +0.01DOW52,002▼ -175S&P 5007,659▼ -85Freddie Mac · U.S. Treasury · Federal Reserve via FRED®
Monday, October 19, 2026Bay Area Market: Coverage updated daily

How mimes, beavers and filmmakers scored in the California budget

Lawmakers this year allocated $400,000 to a mime troupe in San Francisco, $250,000 to a San Luis Obispo nonprofit advocating for beavers and $500,000 to a nonprofit benefitting Los Angeles youth interested in filmmaking. It’s all part of an opaque budgeting process, known as pork-barrel spending, that’s shielded from public scrutiny, writes CalMatters’ Yue Stella…

Bay Area real estate and housing market
Curated News BriefBased on original reporting by CalMatters Housing (September 15, 2026). The summary below is the Journal’s; the local analysis is original commentary by Omar Murillo.

According to CalMatters Housing, California lawmakers directed over a billion dollars in what's called pork-barrel spending this year, which is basically money earmarked for specific projects in particular districts. The reporting shows how this process works behind the scenes without much public visibility. We're talking about things like four hundred thousand going to a mime troupe in San Francisco, a quarter million for a beaver advocacy group down in San Luis Obispo, and half a million for a youth filmmaking nonprofit in Los Angeles. The concern here is whether this is really the best use of taxpayer money, especially when the state is trying to manage big cuts to healthcare funding.

The reporting reveals a pretty significant imbalance in how the money got distributed. Democratic-represented areas got the bulk of these earmarks, with Santa Barbara County, home to the Senate President Pro Tem, receiving tens of millions including nearly thirty million for a college gym renovation. Governor Newsom's home county of Marin got thirteen million for a farmers market and food hub. Meanwhile, seventeen counties, mostly smaller rural counties led by Republican lawmakers, received nothing at all. Tulare County, which has a population similar to Santa Barbara's, got just two hundred thousand.

There's also a troubling disparity in how much individual lawmakers could request. According to CalMatters, the Senate Democrats had a loose cap of five million per senator for earmarks, though at least one got more than that. Republican senators, by contrast, were told they could only request a million each. This gap in funding limits really underscores how the process favors those in power.

What I am seeing locally is how these statewide spending patterns ripple down to our region. The Bay Area tends to do well in these budget cycles because we have influential lawmakers and strong representation, but the broader question about whether pork-barrel spending actually serves our most vulnerable residents is something every buyer and seller in the East Bay should think about when considering long-term community stability and where tax dollars are really going.