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The measure, Proposition 37, authorizes up to $25 billion in bonds to offer homebuyers fixed-rate mortgages for up to 17% of the purchase price of a "qualified new home."
A household earning the average income would need to spend 40% of its income to afford the typical U.S. home, according to Redfin.
Voters in California may soon decide on a ballot measure that seeks to help the state's middle class afford to buy a home, by establishing a $25 billion loan program that would provide down payment assistance.
More than a dozen cities and counties across California were given a "final warning" from state officials Wednesday, saying they have failed to properly plan for additional new homes amid the state's lack of affordable housing.
A bipartisan Senate duo is teaming up on legislation that would ban large investment firms from snapping up single-family homes, a measure they say is aimed at the country's housing affordability crunch.
Economists say high home prices and a shortage of available properties may limit how much federal action can lower U.S. housing costs.
President Trump said "people live in homes, not corporations," in announcing plans to bar big investors from home purchases.
Rents in the 50 largest cities have surged by hundreds of dollars per month over the last five years, a LendingTree analysis found.
Gov. Gavin Newsom is signing a bill that would allow for more homes to be built near transit stations, in an effort to address California's high housing costs.
California's housing-crisis crackdown includes a stunning new look at just how many homes in your neighborhood are owned by Wall Street companies.
Saying that there are no more excuses, California Gov. Gavin Newsom on Monday released a model ordinance for local municipalities to address homeless encampments, along with announcing new funding for treatment and housing.
The city of Tracy is a sprawling community that now needs to add thousands of affordable housing units and new homes.
During the last few years, the issue for the real estate market in Sacramento was that few homes were for sale. But, that has changed. Inventory is now up. Unfortunately, demand for that residential inventory isn't.
An undercover investigation found that California tenants who held Section 8 housing vouchers were refused rental contracts by more than 200 landlords, including major real estate firms.
A California vineyard owner is suing Santa Clara County after officials fined him for allowing his longtime employee to live in an RV on his property for years.
Gov. Gavin Newsom announced new action to address homelessness and expand affordable housing Thursday morning as he signed multiple pieces of legislation at a press event in San Francisco's Mission District.
California's housing crisis is now at the center of a new political ad campaign that dropped this week.
After years of soaring housing costs, renters are getting some relief as the Federal Reserve looks to extinguish inflation.
Many so-called zombie mortgages date back to the 2008 financial crisis, and consumer advocates warn a new wave of zombies could be on the horizon — this time, from all the home equity credit lines taken out during the pandemic.
While real estate prices in California and the San Francisco Bay Area continue to shatter records, there is one Bay Area city that is bucking that trend for now.
A state audit has found that California spent $24 billion to tackle homelessness over a five year period but didn't consistently track the outcomes or effectiveness of its programs.
Gov. Gavin Newsom is urging voters to approve a ballot initiative that he says is needed to tackle the state's homelessness crisis, a change social providers say would threaten programs that keep people from becoming homeless in the first place.
Rents over the last two decades have risen much faster than employee pay, contributing to an escalating homelessness crisis in the U.S.
The Supreme Court said Friday it will weigh whether a city's enforcement of rules prohibiting homeless residents from camping on public property violates the Constitution's protection from cruel and unusual punishment.
California's housing crisis is hitting renters hard as a new report shows many people are spending half of their income on rent.
