"Speaker Atkins is correct that the lack of affordable housing is a large threat to our economy and has far reaching implications beyond just putting a roof over someone's head. I think that her goal of increasing government subsidized housing is far too narrow to address the true crisis of 'housing affordability' for all families in California."The median value of a home in California ($437,800) is 144.3 percent higher than the national median home value ($179,200), yet, the median household income of $61,400 in California is only 15.7 percent higher than the national average ($53,046). This may explain why California's homeownership rate of 54 percent is the third lowest in the nation.
"Californians spend disproportionate shares of their incomes on housing. Families at all income levels and in all parts of our state are struggling to pay the rent or mortgage. We need a comprehensive solution that addresses housing cost drivers from excessive local government fees and rules, new costs from state mandates, and nuisance lawsuits that prevent projects from moving forward. That conversation needs to start today. Subsidized housing may be part of the solution, but you cannot tax and subsidize enough to fix California's dysfunctional housing market."
