California Gubernatorial Candidates on the State’s Housing Crunch

first_img Servicers Navigate the Post-Pandemic World 2 days ago Previous: The Long Road to Recovery for Ohio and Foreclosures Next: Collingwood’s Tim Rood: Moving Mortgage Forward The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago As home prices in the western U.S. continue to climb, candidates for the California governorship are offering up solutions to tackle the crisis. At a recent conference in Sacramento hosted by the advocacy group Housing California, six leading gubernatorial candidates spoke on the costs of new homes and rising rates of homelessness in their state.Data from the S&P CoreLogic Case-Shiller National Home Price Index shows that the western U.S. is home to some of the hottest markets in the country, and the candidates for governor will undoubtedly be expected to address these housing concerns.Former San Francisco Mayor and frontrunner Democratic candidate Gavin Newsom has pushed for 3.5 million homes to be built within seven years, which his rivals have called “unrealistic.””The problem with being audacious is no one thinks it can be done,” Newsom said.Other Democratic candidates, including Antonio Villaraigosa and John Chiang, have called for similar drastic programs. Villaraigosa suggested increasing the current housing subsidy from $4 billion to $6 billion, while Chiang set a building goal similar to Allen’s, which he capped at a more “realistic” 1.6 million units within a decade.Republican candidates John Cox and Travis Allen, however, view government housing subsidies as more detrimental than helpful, noting the high taxpayer cost such programs would bring.”The California Democrats do not need to saddle Californians with even more debt,” said Allen. “This is the entirely wrong approach.”Cox proposed that the first step toward more housing was to eliminate some of the environmental and other regulations in order to reduce costs and time involved in construction.”They can subsidize a few thousand homes somewhere and that might help a few thousand people,” Cox said, “but it’s not going to help the hundreds of thousands who are living day-to-day spending 40 to 50 percent of their income on housing.” Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / California Gubernatorial Candidates on the State’s Housing Crunch Governmental Measures Target Expanded Access to Affordable Housing 2 days ago March 13, 2018 1,669 Views  Print This Post About Author: Seth Welborn The Best Markets For Residential Property Investors 2 days agocenter_img Sign up for DS News Daily California Gubernatorial Candidates on the State’s Housing Crunch Demand Propels Home Prices Upward 2 days ago Tagged with: Affordable Housing Affordable Housing Crisis California Governor HOUSING housing shortage inventory shortage Subsidies in Daily Dose, Featured, Foreclosure, Government, Headlines, Journal, News Servicers Navigate the Post-Pandemic World 2 days ago Share Save Related Articles The Best Markets For Residential Property Investors 2 days ago Affordable Housing Affordable Housing Crisis California Governor HOUSING housing shortage inventory shortage Subsidies 2018-03-13 Seth Welborn Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Subscribelast_img

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