California’s election could bring $6 billion to its affordable housing market
12 housing markets where home buyers get the most bang for their buck. lennar released its earnings results on Wednesday, October 3rd. Read More. Fairfield Current.. California’s election could bring $6 billion to its affordable housing market.
· In November, California voters approved Proposition 1, a $4 billion affordable housing bond, and Oakland will be eligible for substantial funding from the measure.
An act to add Part 16 (commencing with Section 54000) to Division 31 of the Health and Safety Code, relating to housing, by providing the funds necessary therefor through an election for the issuance and sale of bonds of the State of California and for the handling and disposition of those funds, and declaring the urgency thereof, to take effect immediately.
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Californians could see more affordable housing, but some legislators fear their communities won’t see the funds. vote in the upcoming election. On the Nov. 6. ballot, California residents will.
· Supporters say that would cover the cost of creating 3,000 new units of affordable housing, and it could leverage $600 million to $1 billion in additional federal housing dollars. “During this housing crisis we have to be sure everyone has a roof over their heads before we provide tax breaks to people with two roofs,” said the bill’s.
California homeowners receive $6 billion a year in subsidies – 15 times more than renters, report finds March 06, 2018 Liam Dillon, Los Angeles Times. Homeowners in California received nearly $6 billion in state tax subsidies last year, according to a new report that also revealed a wide gap between Read More. Read More
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· In 2000, the federal government set aside $4 billion (in 2016 dollars) for housing repairs; last year, just $1.9 billion.
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