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C.A.R. statement on postponement of SB 50

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For release:
May 16, 2019

California REALTORS® disappointed in decision to postpone SB 50 until 2020

LOS ANGELES (May 16) – The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today issued the following statement on the Chair of the Senate Appropriations Committee holding SB 50 in committee to delay action on the bill until 2020:

“As co-sponsors of SB 50, California REALTORS® are very disappointed in the decision made by the Chair of the Senate Appropriations Committee to delay action on the bill until 2020. We can’t afford to wait. The future of the California dream is in peril and our state’s leaders must unite to solve the housing crisis through common-sense solutions like SB 50 to increase the housing supply," said C.A.R. President Jared Martin.

"We agree with Gov. Gavin Newsom that we must address California’s housing supply shortage head on. Every day we delay addressing the root cause of the housing crisis – the housing stock shortage – the more we put having a place to call home out of reach for millions of Californians. We applaud Sen. Scott Wiener for introducing this bold solution, which is needed now. Not next year, the year after or 'some day.' Kicking the can down the road is what produced this manmade housing crisis. Californians deserve better.

We remain committed to this bill and we look forward to working with the Governor and lawmakers in the meantime on advancing other innovative proposals addressing the housing crisis,” Martin said.

Leading the way... ® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States, with more than 200,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.


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