Housing

Over five million renters in California are rent-burdened, meaning they spend more than 30 percent of their income on rent, while homeownership remains out of reach for many families. Additionally, the Bay Area is one of the most expensive property markets in the United States, with single-family homes selling for about three times the national average. The state's housing market has led to increased homelessness and a shortage of affordable housing.  up prices for first-time homebuyers, rising prices have contributed to increased homelessness and a shortage of affordable housing. In my district, I am working to increase housing supply to both drive down housing prices and increase our affordable housing stock.

What I Am Doing For You

I introduced the Educator Down Payment Assistance Act to make homeownership more accessible and affordable for teachers. Educator shortages have only worsened during the pandemic and housing affordability is the biggest reason given for teachers leaving the profession. My bill would establish a new grant program to provide down payment assistance to full-time public-school educators and school staff who are first-time home buyers.

I’m a cosponsor of H.R. 3238, the Affordable Housing Credit Improvement Act, a bipartisan bill that would expand the Housing Credit by 50 percent over the next two years, in effect increasing California’s affordable housing production by 330,000 over 10 years. It also reduces the bond financing threshold from 50% to 25% to increase the amount of housing that can be built or preserved.

I’m also advocating for improvements to the Department of Veterans Affairs Home Loan Guaranty program. The program has helped millions of veterans purchase homes, but the home-buying process has changed significantly since the VA last implemented substantive changes to origination fees and the appraisal process. I led a letter to the VA urging the Department to consider additional flexibilities.