In many cities, affordable housing has a problem: it’s not affordable. California Governor Jerry Brown made that point again, emphatically, with his new state budget. He’s said that won’t put any new state resources into subsidizing affordable housing until state and local governments figure out ways to bring the costs down. Last year, opposition from labor and environmental groups blocked the governor’s proposal to exempt affordable housing from some key regulatory requirements. Brown had offered $400 million in additional state funds for affordable housing if that proposal was adopted. Now that money is off the table, as Brown said in his budget speech: “We’ve got to bring down the cost structure of housing and not just find ways to subsidize it.”
[For more of this story, written by Joe Cortright, go to https://www.citylab.com/housin...so-expensive/523707/]
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