Widespread foreclosures impact California’s housing crisis and drive efforts to secure a permanent source of funding for affordable housing.
Prior to the current foreclosure crisis, countless working Californians were not earning enough money to afford decent housing. While Proposition 1C created bonds to fund affordable housing, that money will run out. Lynne Jacobs, Director of the California Department of Housing and Community Development, discusses efforts to secure a permanent source of funding on this episode of the Affordable Housing podcast. Once a permanent funding source is in place, housing advocates won’t have to return to the voters every few years to make their case. In conversation with host Joanne Greene, Jacobs also describes the successful programs currently funded through Proposition 1C and administered by the State.