California’s new housing bills are about to become law – but not everyone in real estate is happy about it
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California affordable housing bills get their final sign-off. signed into law a package of bills aimed at tackling California’s affordable housing crisis.. (Home and commercial real estate.
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Two Housing Bills Will Exacerbate California’s Housing Shortage. SB 35 (Wiener) and AB 199 (Chu) make it more costly to build housing by requiring prevailing wages where applicable, pleasing construction unions but making affordable housing less affordable, opines CALmatters political columnist.
California’s new housing bills are about to become law – but not everyone in real estate is happy about it September 18, 2017 05:30PM By Gregory Cornfield
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Compounding California’s affordable housing crisis is the fact that over the past decade, only 311,000 new housing units have been constructed-this in a state that now has 40 million residents. And, to exacerbate the problem, the vast majority of those new units are high-end housing targeted at the state’s upper-income residents.
Senate Bill 827, sponsored by state Sen. Scott Wiener, a Democrat from San Francisco, tries to force cities to build more dense housing around public transit hubs.The bill has received a remarkable level of media attention both within California and nationally, providing fodder for think pieces from Slate, Vox, The Boston Globe, Bloomberg and The New York Times – which called it a "bold.
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On September 15, 2017, Governor Jerry Brown signed a robust package of housing legislation aimed at addressing the ongoing and unprecedented housing affordability crisis in California. The 15 bills seek to streamline the housing development approval process, lower the cost of construction, and provide new funding for low-income housing development.
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California’s Governor Brown signed into law a package of bills on September 29, 2017, intended to increase the development of affordable housing. The state is deep in the middle of an affordable housing crisis and has been searching for solutions. Some major California cities passed ordinances in recent years, such as San Francisco’s new density bonus programs, to stimulate affordable.