Below is an excerpt from a report written by Bernadette Austin, Veronica Beaty, and Steve Coffeen for the Sacramento Housing Alliance in June 2017.
There is a dearth of housing to meet the demand because funding for affordable housing has been slashed at the same time housing needs have grown. Since 2007, California has lost more than half its major sources of funding for affordable homes. Enhancing and expanding the existing trust fund programs will go far in closing the gap in financing affordable housing development and provide much-needed leverage for other sources of funds. It is critical to identify and maximize local funding resources to address the housing crisis, while also continuing to advocate for the state government to dedicate sufficient resources and for the federal government to fulfill its historic responsibilities in housing funding.