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Affordable Housing Supply Stays Low

Prospects for finding affordable housing, either to buy or rent, continue to look grim in California. State lawmakers and Governor Brown are still at odds about the issue, so there’s no new money for it in the recently-approved budget. Projections indicate that rental rates will continue to spike up, especially for low and middle-income people. Nevada County Health and Human Services Director, Michael Heggarty, agrees that renters are going to continue to have a tough time here, as long as construction lags…

click to listen to Michael Heggarty

Meanwhile, Governor Brown wants to limit environmental reviews and lower permit requirements, as a way of speeding up housing development. But environmental groups and unions have concerns. Heggarty says there are currently no affordable housing proposals that have been submitted to the county…

click to listen to Michael Heggarty

There is also a series of bills in the Legislature that would establish an ongoing source of funding that’s expected to be considered over the next few months. A senior economist for the Anderson Forecast says since the state is running out of people who can afford the high-end rents, prices for those units are starting to fall. But with demand for cheaper units climbing, those rents will continue to go up. Six out of the seven least affordable metropolitan areas in the U.S are in California. That includes Sacramento.

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