New Gov. Gavin Newsom’s budget asks for $500 million to boost construction of housing for “moderate income” Californians. Housing, he said while introducing his first budget, “is the issue.”
He is correct. Everyone is aware of the grim state of housing in California. But no one, at least those with enough political influence to shift policy, seems capable of putting forth changes that will make a bit of difference.
It would help if policymakers stopped targeting segments of the housing market for special attention, as Newsom did with his $1.75 billion request for housing initiatives that includes $500 million for middle-income housing and $300 million for a low-income home-building program.