California Lawmakers Propose $11.25 Billion Bond to Confront Housing Crisis
California lawmakers and Governor Gavin Newsom announced an agreement to place an $11.25 billion affordable housing and homeownership bond before voters in November 2026. The proposed Veterans and Affordable Housing Bond Act of 2026 aims to address the state’s persistent housing affordability crisis by funding construction, preservation, and rehabilitation of affordable housing, alongside expanding homeownership opportunities and supporting veterans’ housing programs.