• Capital Public Radio: Thursday Capitol Roundup: Single-Payer Healthcare, Cap-and-Trade, Affordable Housing

    Ben Adler / Capital Public RadioCalifornia lawmakers have begun to tackle what one legislator characterized as “the worst housing crisis that our state has experienced.” The California state Senate passed a bill that would put a $3 billion affordable housing bond before voters in 2018. Democratic Senator Jim Beall says it will help leverage $11 billion dollars in federal funds that he says are badly needed. Several Republican senators say the state can’t afford another bond. But a Senate bill that received bipartisan support would create a streamlined approval process for cities that are struggling to meet affordable housing goals.

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  • ABC 10: California bill: $75 fee would help fund affordable housing

    Refinancing or changing the title on your home soon? Well, a new bill in the state Legislature would add a $75 fee to these real estate recording documents. SB 2 would establish an affordable housing trust fund using the fee revenue, which is capped at $225 — in other words, three pages. “All in all, throughout Sacramento County and the surrounding areas, we have seen a lack of supply, which has created this crisis,” Sacramento Association of Realtors President Franco Garcia said. Under the proposal, a governing board — including six people appointed by the governor — would oversee the money. The fee excludes property sales.

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  • LA Times: To end the housing crisis, California leaders can’t be afraid to put all options on the table

    The state’s housing market has long been unaffordable for far too many Californians. But in recent years, the problem has become impossible to ignore. Rapidly rising rents are forcing more residents to spend a staggering percentage of their take-home pay to keep a roof over their heads. Financial advisors recommend spending no more than 30% of your income on housing, but one in three renters in California pays more than half of their income to their landlord.

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  • Housing Wire: Here’s what Trump’s proposed budget means for housing

    Money tighteningPresident Donald Trump officially released his proposal for the 2018 federal budget which includes a $6.2 billion cut to the U.S. Department of Housing and Urban Development. The cut was previously announced in the president’s preliminary budget proposal in March. Now, the full budget proposal released Tuesday gives insight into the allocation of funds for HUD. HUD’s funding would decrease about 13.2% to $40.68 billion under the proposed budget.

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  • San Gabriel Valley Tribune: Almost 1 million affordable homes needed for Southern California poor

    Southern California has a low-income housing shortage of nearly 1 million units, according to a new analysis of housing costs. Seen here, a "green" roof atop a parking structure at the affordable Park Landing apartments in Buena Park. The environmentally friendly roof has a playground, barbecue grills and more than 20,000 square feet of outdoor recreational space.(JEBB HARRIS ORANGE COUNTY REGISTER)A decline in government spending, rising rents and falling incomes have created a shortage of nearly one million affordable homes in five Southern California counties, the nonprofit California Housing Partnership Corp. reported Monday, May 22. The five-county area needs 949,016 more affordable rentals to meet the needs of families earning 50 percent or less of the median household income, the report said.

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  • Irvine Honors: The History of Woodbridge

    Many of you may not be aware that a legend in our business, Ken Agid, passed away in December 2016. The father of market segmentation and a great tutor and friend will be missed by all of those who had the pleasure to work with him. Ken worked on over 100 master planned communities including Woodbridge in Irvine and Playa Vista.

    Click here to watch a video and learn more about what Ken meant to the building industry.

  • California Housing Partnership: New Reports Show Depth and Impact of Housing Shortfall in Five Southern California Counties

    Today the California Housing Partnership released the final installment of its 2017 Housing Needs Assessment series, describing the affordable housing crisis facing lower-income renters in five Southern California counties: Los Angeles, Riverside, San Bernardino, Orange, and San Diego.

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  • SacBee: What’s the solution to California’s unaffordable housing crisis?

    The U.S. Department of Housing and Urban Development classifies a Sacramento family of four with annual earnings of $59,350 as low income; for a single person, it’s $41,550. HUD’s low-income classification sounds about right because, with this income, many can’t afford Sacramento County’s median home sales price of $312,000 or an average of $1,450 per month to rent a two-bedroom dwelling. Fortunately, we have taxpayer-financed and government-subsidized affordable housing programs. What are some of these programs’ recent accomplishments?

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  • Studio City Patch: County To Explore Renter Protections Amid Affordable Housing Crisis

    screen_shot_2017-05-16_at_35053_pm-1494975114-5873The Board of Supervisors voted Tuesday to explore policies aimed at expanding affordable housing options and protecting renters, calling it part and parcel of the fight against homelessness. Supervisor Hilda Solis recommended the study. “Countless residents in the unincorporated areas of my district have experienced skyrocketing rental rates in their neighborhoods,” she said. “We need more tools to secure housing stability for the most vulnerable county residents.” The work will begin with a survey of rental housing stock; relevant laws and regulations; and best practices designed to protect rental rates, tenant tenure, habitability and freedom from discrimination.

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  • ABC News: Southern California average annual income needed to afford home

    A new report explains how much money you need to make to be able to afford a home in Los Angeles, Orange, Riverside, San Bernardino and Ventura counties. The California Association of Realtors released its housing affordability report and it showed homes in California were less affordable in the first quarter of 2017 than the first quarter of 2016. But despite homes being less affordable, the report said higher household incomes and seasonal price declines helped to offset the costs and slightly increased the housing affordability index. Here’s how much average annual income is needed to buy a home in Southern California, according to the California Association of Realtors:
    – Orange County $154,120
    – Ventura County $132,020
    – Los Angeles County $99,830
    – Riverside County $75,000
    – San Bernardino County $52,790

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