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Based on “Affordable Housing”.

Affordable housing in California remains elusive

Although California lawmakers in 2017 passed several bills to ease housing construction across the state, affordable rental units remain out of reach for many low-income residents. In a new report by the California Housing Partnership, about two-thirds of the more than two million very low-income renters in the state spend more than half their income on rent.

Financial knowledge could help low-income renters in California buy their homes

Although most renters in California can’t afford to be homeowners, recent research illustrates that these renters could, in fact, buy a home if they had better financial knowledge. According to a study by the California Association of Realtors (C.A.R.), “A lack of financial literacy is one of the biggest barriers preventing renters from becoming homeowners.”