One-bedroom apartments that average $3,690 monthly in San Francisco. Statewide median home prices of $548,000. A shortage of 3.5 million homes.
These are the facts that define California’s housing crisis.
Consensus across the political and ideological spectrum recognizes that lack of supply is at the root of the problem. It is largely driven by policies passed by Democratic leaders in Sacramento – a perfect storm of regulatory red tape and abuse of the state’s laws under the California Environmental Quality Act (CEQA).
“California’s housing crisis has brewed for decades,” said Senator Mike Morrell (R-Rancho Cucamonga). “We need more homes. Getting there will take a concerted effort to limit government’s reach.”
Morrell has introduced SB 384, which proposes key steps to spur growth in the housing supply:
- Prioritize home building by streamlining the CEQA process for developments of 50 units or more according to the same process used to fast-track sports arenas.
It follows the governor’s call in his 2019 State of the State Address: “In recent years, we’ve expedited judicial review on CEQA for professional sports. It’s time we do the same thing for housing.”
- Provide tax savings to current owners looking to sell their homes to jumpstart market mobility and create more opportunities for first-time homebuyers.
The Senate Committee on Environmental Quality will consider SB 384 on April 10.