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‘It’s A Shame’: California Squandered $2.7 Billion For Affordable Housing, Audit Says

California’s lack of affordable housing is severe and well-documented. One recent estimate says the state needs 1.4 million more affordable rental homes to ease the burden on low-income families. But the state’s convoluted process for financing that housing — and the effect it can have in gumming up development — is less apparent.