Affordable housing bills won’t make much of a dent in California’s housing needs

Last month, Gov. Jerry Brown and legislative leaders promised in a joint statement to pass a package of bills that “will help ensure Californians won’t have to pay an arm and a leg to have a roof over their head.”

But the measures now contemplated to alleviate the state’s affordability crisis will not make much of a dent in California’s housing needs, according to analyses from state officials and housing groups. Even if high-profile housing bills pass, the state would need to find at least an additional $10 billion every year for new construction just to help Californians most burdened by high rents.

The three marquee measures under consideration — Senate Bills 2, 3 and 35 — aim to increase funding for low-income housing projects and ease development regulations. The measures are unlikely to help spur enough home building in general. Development would still fall short by tens of thousands of new homes needed annually just to keep pace with projected population growth.

Source: State Senate bills aim to make homes more affordable, but they won’t spur nearly enough construction – LA Times

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