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Statement on Budget Proposal

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For Release:
January 10, 2023

 

California REALTORS® encouraged by Governor’s funding for housing in state budget, press for greater homeownership opportunities

LOS ANGELES (Jan. 10) – The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today issued the following statement in response to Governor Gavin Newsom’s 2023-24 state budget proposal:

“While the state’s current budgetary shortfall may delay fully funding homeownership programs such as Senate President Pro Tem Toni Atkins’s California Dream for All down payment assistance plan in this year’s budget, we are encouraged by Governor Newsom’s commitment to homeownership programs going forward,” said C.A.R. President Jennifer Branchini, a Bay Area REALTOR®. “We look forward to working with the Governor and legislative leaders to ensure that this and future state budgets create opportunities for new generations of Californians to build family wealth through homeownership.

“Great strides have been made, including last year’s historic investments in CalHome and the California Dream for All program. However, more needs to be done to help make homeownership more attainable for the state’s working families and support traditionally underserved communities so that they can build generational wealth. Today, only one in every five California households can afford a single-family home.  

Homeownership is the best way for working people to attain economic security and develop wealth. Funding to expand ownership housing to create this opportunity for more Californians must be a larger part of this year’s budget.”

Leading the way...® in California real estate for more than 115 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States, with more than 217,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

 

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