The California Association of Realtors last week called on state lawmakers to prioritize increasing the housing supply. Earlier this year, C.A.R. launched an initiative called "Let's Get Serious on Supply," urging the California legislature to support policies that increase housing production.
"The California Association of Realtors is continuing its call for state lawmakers to advance policies that will increase the housing supply in the upcoming 2020 legislative session. As all signs show California's housing affordability and availability crisis worsening, our state's leaders must prioritize improving supply as the solution because our future depends on it. Simply put, it's time to get serious on housing supply," said C.A.R. president Jared Martin in a statement.
"Our membership of more than 200,000 real estate professionals are united in urging the legislature to make increasing housing supply its top priority in the next legislative session. While some meaningful progress was made this year with the enactment of Sen. Nancy Skinner's SB 330 to streamline the development permitting process, this crisis demands even more robust and meaningful policy changes. The Legislature must advance bold new solutions like C.A.R. co-sponsored SB 50 by Sen. Scott Wiener if we are to have any hope of closing the state's widening supply gap," says Martin.
The Governor last month signed a package of housing bills, one of which was Senate Bill 330, the Housing Crisis Act of 2019, by state Sen. Nancy Skinner (D-Berkeley). SB 330 is designed to speed up housing construction in California by slashing the time it takes to obtain building permits, limiting fee increases on housing applications, and preventing local governments from reducing the number of homes that can be built. The new law also prevents the demolition of affordable and rent-controlled units unless developers replace all of them, pay to rehouse tenants, and offer those renters first right of return at the same rent. The bill, which received bipartisan support in both houses of the Legislature, takes effect Jan. 1, 2020 and sunsets in 2025.
SB 50, introduced earlier this year by Wiener, would have required cities to permit dense housing around public transit stations and job centers. The bill was shelved but is up for reconsideration in January with some amendments.
The C.A.R. statement ends with Martin noting, "California's leaders must respond with real solutions before it's too late and our children are left without the housing options they deserve. C.A.R. stands ready to work with lawmakers and Gov. Gavin Newsom to advance policies that deliver a brighter housing future for all Californians."
Alan Barbic, president of the Silicon Valley Association of Realtors, said the lack of housing supply in the state has gone from bad to worse. "California ranks 49th in the nation for the number of housing units per capita. Fewer than 80,000 housing units have been constructed annually, less than half of what is needed to keep up with population growth," said Barbic. "This lack of housing has led to a statewide median home price of more than $610,000 that a lot of Californians simply cannot afford. Many are spending more than half of their income on housing while others unfortunately have become homeless."
The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.
The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.
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For further information, please email or call the SILVAR office at (408) 200-0100.