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California Rep. Maxine Waters Proposes Billions to Help Low-Income Homebuyers

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California Rep. Maxine Waters Proposes Billions to Help Low-Income Homebuyers ldeakins Thu, 06/22/2023 - 12:30 The new proposal aims to significantly expand funding for low-income housing California Representative Maxine Waters introduced three bills on Wednesday that would expand low-income housing and narrow the country’s racial wealth gap.

Income 52
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Record Appreciation Is Sending Homeowner Wealth Soaring

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Middle-income homeowners have seen their properties appreciate by 68% since 2012, amounting to $122,100 in equity wealth, according to the National Association of Realtors. Similarly, low-income homeowners reported $98,900 in equity gains, and upper-income households accrued $150,800 in equity.

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California Could Cover 45% of a Home Purchase for Eligible Buyers

Pro Builder

California Could Cover 45% of a Home Purchase for Eligible Buyers. California Senate Democrats proposed a new program as part of its Build Back Boldly budget plan that would assist first-time homebuyers with purchasing by paying for—and owning—45% of the property. Housing Policy + Finance. Housing Policy + Finance.

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California State Senator Proposes $10 Billion Endowment to Help With Home Purchases

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California State Senator Proposes $10 Billion Endowment to Help With Home Purchases. A top California lawmaker is working to create a new program that will help families afford home purchases in the most expensive markets across the state. Housing Policy + Finance. Housing Policy + Finance. Thu, 05/12/2022 - 10:17.

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New California Duplex Law Permits Development in Residential Neighborhoods

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New California Duplex Law Permits Development in Residential Neighborhoods. Senate Bill 9, a California law scheduled to take effect January 1, will allow multi-unit housing in neighborhoods previously reserved for single-family homes, but some cities are fighting back with new restrictions. Housing Policy + Finance.

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New Affordable Housing Units Cost $1 Million per Apartment to Build in California

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New Affordable Housing Units Cost $1 Million per Apartment to Build in California. The seven projects costing $1 million or more are located in the San Francisco Bay Area, and will be the costliest built in California when completed, the Los Angeles Times reports. Wed, 06/22/2022 - 12:01.

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Top 25 Finalists for Ivory Innovations' Housing Affordability Prize

Pro Builder

In the Finance category, finalists include organizations focused on construction financing, shared-equity models, and renter programs that support increased savings and equity. CoFi is piloting a new modular construction financing program with Manufactured, an end-to-end inventory manufacturing & finance solution.