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[15]: 1 [16] In 2023, housing affordability in California reached a 16-year low, with only about 16% of homebuyers able to purchase a median-priced single-family home, as per data from the California Association of Realtors. In San Mateo and Santa Clara counties, buyers would require a minimum income of $504,400 and $451,200, respectively, to ...
The 2023 version (AB 309) originally retained most of the language of the 2022 version, but was significantly amended in committee to remove the provisions regarding the Housing Authority, instead establishing a Social Housing Program in the California Department of General Services. The revision would have allowed local governments to propose ...
A law barring monthly rents of more than $10,000 for new listings is stopping high-end homes from going on the market, real estate agents and brokers say. Such homes could be in demand for wealthy ...
The law, drafted by Anna Caballero, was originally written to apply to single-family zones of housing, but the language regarding single-family zones was removed by the Assembly Housing Committee prior to passing the Assembly. [3] The bill was signed into law by Gavin Newsom on October 11, 2023, and took effect on July 1, 2024. [4]
On Sunday, California Gov. Gavin Newsom signed an executive order that enforces the state’s anti-price-gouging rules for disaster areas through Jan. 7, 2026. Under California Penal Code 396 ...
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More than half a dozen affordable housing projects in California are costing more than $1 million per apartment to build, a record-breaking sum that makes it harder to house the growing numbers of ...
In 2023, Governor Newsom allocated $20 million in grants to 22 Native American tribes in California to address housing insecurity and to prevent homelessness in Native American communities. [ 35 ] An April 2024 investigation by The Guardian and Type Investigations found that the state had paid $100 million to private companies to clear homeless ...