Dear CAR Member,
Last Friday was Governor Newsom’s deadline to sign or veto bills from the 2021-2022 legislative session. I’m pleased to share that several pieces of legislation that hope to address the housing supply crisis and advance homeownership for Californians at all income levels will now become law. This includes several notable wins including:
C.A.R.-sponsored AB 2170 by Assemblymember Tim Grayson, which gives potential owner-occupants and public entities a “first look” at purchasing bank-owned properties and prohibiting “bulk sales” of foreclosed homes. This bill will create more homeownership opportunities for tenants, future homeowners and nonprofit affordable housing providers throughout California.
C.A.R.-supported AB 2011 by Assemblymember Buffy Wicks and SB 6 by Sen. Anna Caballero, which we hope will lead to increased housing production. Both help streamline the process of converting commercial and multifamily zoned parcels in urban areas for residential use and create more streamlined housing development in urban areas. We are happy to see bills that acknowledge that more supply is the only real solution to the housing crisis.
While we hope these bills trigger housing construction, helping homeownership — which creates true housing and economic security for working Californians — remains our priority. This year we had an incredible win in securing $900 million in funds in the State Budget to provide homeownership opportunities for working families including:
• $500 million to Senate Pro Tem Toni Atkins’ California Dream for All Program to fund the new equity sharing, down payment assistance program.
• $350 million over two years to CalHOME to facilitate the construction of new homes for low-income families; and,
• $50 million to fund low-cost loans to homeowners seeking to construct ADUs.
C.A.R.’s advocacy and leadership and, most importantly, your support, engagement and action resulted in a legislative session that provided critical steps forward in addressing California’s severe homeownership affordability and housing equity crisis. Thank you, REALTORS®, for continuing to champion homeownership for all Californians. We are stronger together.
To continue its focus on extending C.A.R.’s impact and influence with diverse stakeholders and external partners, C.A.R.’s Center for California Real Estate (CCRE) has partnered with the University of California Center Sacramento to sponsor two free upcoming lectures aimed at exploring solutions to critical issues in California real estate. “Protecting California Homes from Extreme Heat,” features Professor V. Kelly Turner, Assistant Professor of Urban Planning and Geography, UCLA Co-Director of the Luskin Center for Innovation. She’ll discuss why California’s housing is unprepared for extreme heat and how climate change will only increase in duration and intensity in the future.
The second event is “California’s Housing Crisis: Policies for a More Affordable, Equitable and Sustainable Housing Future.” Dr. Carolina K. Reid, I. Donald Terner Distinguished Professor in Affordable Housing and Urban Policy in the Department of City and Regional Planning at the University of California at Berkeley, will discuss how the extraordinary scale and complexity of California’s high rents and home prices are contributing to housing insecurity, high rates of homelessness and deepening racial inequality. Visit the CCRE website (centerforcaliforniarealestate.org) to register and learn more.
We’re just a few days away from our return to an IN-PERSON REimagine! Real Estate Conference & Expo next week, Oct. 11-13! We’re bringing you 90+ experts for three days of informational sessions about the shifting market, discussions with industry leaders, housing market outlook, marketing, social media, 200+ exhibitors and more! Make sure you secure your ticket for the must-attend 2023 Housing Market Forecast Keynote Lunch on Oct. 12 to hear C.A.R. Chief Economist Jordan Levine share valuable data and insights on pressing housing issues. You’ll also have networking opportunities at our All Voices Soirée on Wednesday evening when we celebrate our diversity and being together in person! Be sure to take advantage of this free member benefit and sign up at reimagineexpo.org to join us Oct. 11-13 at the Long Beach Convention Center.
Tuesday, Nov. 8, is Election Day. REALTORS® are key to the 2022 election. Help us get out the REALTOR® Party vote. Getting registered to vote is just the first step in getting vote-ready! Making a plan to vote and knowing what’s on the ballot is all part of what comes next to ensure everyone has their voice heard at the ballot box. Californians have until Oct. 24 to register for this election, and the state provides various options. Voters can register online or by mail. After the deadline, eligible voters can also register in person using same day or conditional registration. Check your registration status here or find information about upcoming local and state elections.
In closing, as my term as your President concludes next month, I want to thank each and every one of you for your active involvement with C.A.R. this year. I leave knowing you’ll remain just as involved with your 2023 Leadership Team comprised of President Jennifer Branchini, President-elect Melanie Barker, Treasurer Heather Ozur and C.A.R. Chief Executive Officer John Sebree. It’s been a pleasure serving you.
Sincerely,
Otto Catrina
C.A.R. President