An unaffordable rental market has hardest hit those families of color who earn the lowest income. According to the California Housing Partnership, of the 5.89 million renter households living in California, 1.97 million come from the two lowest income groups—extremely low-income (ELI) and very low-income (VLI). Meanwhile, only 668,000 rental homes are affordable and available to households at these income Read More
In March, a California Affordable Housing Needs Report, published by the California Housing Partnership, suggested there was a drastic need for more affordable housing in California. Over the past few months, the COVID-19 pandemic has exacerbated that need.
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.
California on Wednesday reallocated $600 million of private activity bonds formerly awarded to Fortress Investment Group’s Las Vegas tourist train to affordable housing needs, a win for developers trying to ease the state’s severe shortage of homes.
An investment group failed to sell $2.4 billion in bonds to finance the Brightline West high-speed rail project. Housing advocates hope those funds can help ease the state’s home shortage.
The average cost to rent an apartment in Fresno went up since March, putting even more financial pressure on cash-strapped residents during a pandemic. It’s a double whammy for tens of thousands of overwhelmed renters who lost work in the last six months and are balancing housing costs with cuts to household income.
California’s housing crisis walloped 75-year-old Perry Angle and his wife in 2014, when the monthly rent for their one-bedroom apartment in a Santa Rosa senior citizen complex began to shoot up from $925 a month to $1,435 two years later. Angle, a retired account manager for Blue Cross, heavily depended on Social Security – his savings had been largely wiped out Read More
FOSTER CITY (KPIX 5) — Affordable housing in California, already an extremely rare commodity, will likely become even more rare in the next decade.
VENICE, CA — City Attorney Mike Feuer said Tuesday that his office obtained a preliminary injunction against the owners of the Ellison Apartments in Venice to prevent them from operating the residential complex as a hotel or short-term rental.
Petaluma is my hometown. The Phoenix Theater was like Mecca for me and my angsty teenage peers, and I learned to drive a stick shift on our bumpy country roads on the outskirts of town. But as an adult here, trying to maintain a foothold in the town that I know and love is no easy feat. Each month I am Read More