Opinion: Sen. Toni Atkins' plan to help first-time homebuyers could pay dividends for generations [Opinion]
than the U.S. norm, census data shows California has the second-lowest rate of homeownership at 56 percent of households.
For years, governors and state lawmakers have sought to address this crisis by a variety of means — major changes in zoning laws, new rules limiting the power of local NIMBYs, sharp increases in funding for subsidized housing projects, rent control and more. But California’s elected officials — and, by obvious extension, its residents — have little to show for it.
State Treasurer Fiona Ma is a big fan. Her office says that only 17 percent of Latino and Black households can afford the median-priced home in the state under normal circumstances. But as Ma pointed out, the program could help all Californians with low or moderate incomes to achieve their dream of homeownership. Kudos to Atkins for her constructive approach to a daunting problem.
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