Episode Details

California’s governor and lawmakers have struck a historic deal on an $11.25 billion housing bond, set to hit the ballot in November. Ten billion dollars will fund new and repaired affordable housing for low-income residents, while $1.25 billion will support the CalVet Home Loan program, using revenue bonds paid back through mortgages to help military families buy homes. With only 17% of households able to afford median-priced homes and renters spending over 30% of income on rent, this move aims to tackle the state’s 1.2 million affordable housing shortage. Senate Bill 47 will likely pass soon, putting the fate of this critical investment in the hands of voters.

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