Solving Housing Problems in California

Jerry Brown, the governor of California, has addressed the house affordability issue affecting the state of California. He signed 15 bills into law on Friday, and this included one that touched on real estate transactions. It also included a $ 4 billion bond that would enable the state raise over $1 billion. These funds are supposed to offer subsidies for new homeowners especially the ones with low income. Jerry Brown addressed the issue saying that it had become a big challenge. At the same time, Mr. Brown said that rates have been on the rise since the beginning of the year. The signing took place at Hunters View and was attended by advocates as well as lawmakers. For starters, the Hunters View project is geared towards redeveloping crumbling public housing. The project aims at creating nearly 700 homes for low-income families in San Francisco. This is a move that was hailed by several people who attended the ceremony. California Senator Scott Wiener, who was in attendance said that the bill meant that the state would implement a housing policy that would benefit thousands of people and families. However, it’s important to note that the new bills will not take into effect immediately. At the same time, people from the state should not expect the bills to reduce their housing problems immediately.

To keep up with the pace of the California growing population, the state and developers need to build almost 100,000 homes annually. However, for the bond money to be used, it must be approved by voters in November 2018. According to information released by third parties and the state, approximately 14,000 houses are being added to the California real estate market leaving a huge gap. Assemblyman Richard Bloom from Santa Monica said that people from the state should understand that there is still more work to be done. He promised that they would continue addressing the issue. The new bill is referred to as Senate Bill 2. In discussing the issue, housing advocates and academics blame the issue of slow housing growth to lengthy government processes. The California governor said that this would be addressed through Senate Bill 35. With this bill, it makes it mandatory for cities to approve projects as long as they have complied with the zoning requirements. There are also incentives that have been provided by the state government for cities that plan for developments in the cities.