By Elizabeth Zach, RCAC staff writer
California’s housing crisis should have, by this time, eased some after Gov. Jerry Brown last year signed more than a dozen bills that would encourage more building. But some analysts now say that the laws have yet to have a measurable impact on the state’s progress.
No new housing has been built or funded, according to Cal Matters. California builders are, moreover, on track to build 130,000 new homes still this year, but that figure falls short by 50,000 if the state is expected to keep pace with population growth.
That said, the money to expand construction is there, and more is being put aside for affordable housing.
“Affordable housing advocates are also eagerly awaiting new funding from SB 2, which imposed a $75 fee on some real estate transactions to create the state’s first ongoing source of affordable housing revenue in years,” notes Matt Levin in Cal Matters. “Housing officials say the state is on track to raise $250 million from the new tax, meeting initial projections. That’s good news.”