Housing still costs a fortune in California. Will Gavin Newsom’s plan fix that?
“Newsom has said California’s housing crisis – driving up rent and home prices – is essentially a problem of supply and demand. He wants to spend state money to create more supply. He proposes a $1.75 billion increase in funding for housing initiatives. Of that, he’d like to devote $1.25 billion in one-time spending for building new housing, which includes $750 million in grants to help local governments plan for increased housing production and $500 million to expand the mixed income loan program.”