January 10, 2020

California REALTORS® encouraged by Gov. Newsom's 2020-21 budget

LOS ANGELES, Calif. (Jan. 10) – The CALIFORNIA ASSOCIATION OF REALTORS^®(C.A.R.) today issued the following statement regarding California Gov. Gavin Newsom's state budget briefing:

"The California Association of REALTORS^® is encouraged by Gov. Gavin Newsom's California 2020-21 budget proposal and its focus on the state's housing supply and affordability crisis," C.A.R. President Jeanne Radsick said.

"This budget recognizes the severity of the housing crisis and addresses the root cause — a lack of housing supply. We stand ready to work with the governor and Legislature in the coming weeks and months to advance policies that increase the housing supply.

"We also want to thank the governor for his commitment to solving this housing crisis and for exploring the creation of a statewide housing agency focused on housing and homelessness. We also thank him for his expressed support of C.A.R. co-sponsored SB 50.

"We are very encouraged that several of the policies included within the governor's 2020-21 budget coincide with a series of C.A.R.-sponsored legislation such as efforts to streamline the development process and to increase housing production by limiting development fees."

"This legislation is our best opportunity in 2020 to make meaningful progress toward solving the housing supply and affordability crisis, and to renew the dream of homeownership for all Californians," stated Radsick.

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.