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TITLE: A Guide to State and Federal Housing Policy AUTHOR: Alison Nemirow PAGES: 148 DATE: February 2011 ABSTRACT: Housing is an area of serious concern for many Californians. The foreclosure crisis that began in 2007 hit California particularly hard: the state has consistently ranked among the top five in foreclosure rates. Nevertheless, California home prices remain well above—and vacancy rates well below—the national average, with the state’s population expected to grow rapidly in the coming decades. The foreclosure crisis, recession, and the state’s budget difficulties have also severely affected the viability of many funding sources for affordable housing. This paper provides a comprehensive overview of how housing policy functions in California. It is designed to inform the continuing debate over the appropriate role for federal, state, and local government to play in California’s housing markets. PPIC working papers present work in progress and may not be quoted or cited without permission of the author. Comments or suggestions, however, are welcome. |