Housing for California is an initiative of the California Association of REALTORS® to support policies that help Californians live and work in the same community. California is the land of opportunity and prosperity, yet ranks last in the nation in housing affordability, in large part due to lack of supply. Join us to urge our elected officials and policymakers to embrace solutions to California’s housing shortage and reject misguided policies that make home affordability out of reach for millions. Together, we can make housing for all a reality. Watch the video below for more on California’s housing supply crisis.
Increasing the Housing Supply Helps All Californians
THE HOUSING SHORTAGE COSTS CALIFORNIA $140 BILLION PER YEAR
California’s housing shortage costs the state more than $140 billion per year in lost economic output, including lost construction investment as well as foregone consumption of goods and services because Californians spend so much of their income on housing. (A Tool Kit to Close California’s Housing Gap, McKinsey Global Institute, October 2016)
THE HOUSING SHORTAGE INCREASES HOME PRICES
An average California home costs $440,000, about two-and-a-half times the average national home price ($180,000). (California’s High Housing Costs, Legislative Analyst’s Office, March 2016)
THE HOUSING SHORTAGE CREATES AN AFFORDABILITY CRISIS
California’s lowest income renters spend a median of 68% of income on rent, leaving them with little money for other basic necessities, including food, health care and transportation. (Confronting California’s Rent and Poverty Crisis: A Call for State Reinvestment in Affordable Homes, California Housing Partnership Corporation, April 2016)
A California Association of REALTORS® Center for California Real Estate White Paper reveals how rent control further cripples California’s housing supply. Read more about how it hurts low-income families and increases costs for renters.
Get the facts.
The first step in reversing California’s housing supply crisis is understanding what we’re up against. Click the button below to download our latest fact sheet to learn more.
Policies That Help Homeownership
California Association of REALTORS® is committed to helping solve California’s housing crisis and promoting homeownership, and to do so, we must ensure our state increases its housing supply. Below is a list of proposed legislation that, if adopted, will help advance additional supply and provide homeownership opportunities for residents throughout the Golden State.
Boosts housing and apartment development in and around major transit hubs and employers, and provides developers with a “density bonus” — authority to build additional units in exchange for building below-market units — and other incentives or concessions.
Holds local governments accountable by withholding gas tax revenue if counties do not meet home building benchmarks verified by the California Department of Housing and Community Development.
Increases housing supply by selling bonds to provide loans to homeowners to construct accessory dwelling units (ADUs).
The solution is simple – we need more housing, and we need it now.
California policymakers must embrace solutions that work to put people back on track to afford to live in the communities where they work.