Published 17 hours ago • loading... • Updated 9 hours ago
Report: Federal spending fails to make California affordable
Billions of dollars in government spending over a decade have failed to keep homeownership affordable for millions of Americans.
California received $81.4 billion from HUD between 2015 and 2024 but remains one of the least affordable states to live in the U.S., according to Open the Books.
Home prices in California rose by more than 82% during 2015 to 2024, as stated by Neefus.
Open the Books reports that California's complex financing rules, high construction costs, and strict single-family zoning contribute to a shortage of affordable housing units.