California: Affordable Housing Is Headed Your Way

Affordable Housing

If you're a resident of the state of California who has been crushed by the inability to find affordable housing, help is on the way. On Friday, September 29, 2017, Governor Jerry Brown signed into a law a package of bills that are designed to specifically target the housing crisis. The package is sure to help out those burdened families who have had a very hard time finding a place to stay that won't break the bank.

The website reported that the laws are aimed at helping a few different segments of the population. Firstly, it's designed to streamline the process of becoming approved for a loan. Proponents mentioned how long the journey to approval currently is and how critical it is to eliminate some of the aspects that only add to the red tape. This is good news if you've found yourself being denied a loan at the eleventh hour because you failed to submit some obscure financial document that you no longer have access to.

Also, the bill has a built-in clause where developers are required to construct a certain number of cheaper-than-market-price residences. Instead of just focusing on the fancy, expensive high-rise apartments or the sprawling mansions that fetch such a high dollar amount, developers will now need to erect homes aimed at regular people who just don't have a lot of money to spend on a place to live.

It's wonderful that the governor would push so diligently to have such a bill made into law. So many people struggled to have enough money to pay for their overpriced living arrangements while still keeping food on the table and clothing their families. For a state with a notoriously high cost-of-living, it should deliver a lot of hope to individuals who have paid out so much in living costs.



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