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California Rep. Maxine Waters Proposes Billions to Help Low-Income Homebuyers

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California Rep. Maxine Waters Proposes Billions to Help Low-Income Homebuyers ldeakins Thu, 06/22/2023 - 12:30 The new proposal aims to significantly expand funding for low-income housing California Representative Maxine Waters introduced three bills on Wednesday that would expand low-income housing and narrow the country’s racial wealth gap.

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A Quarter of American Homeowners Are Considered ‘House Poor'

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are considered “house poor,” meaning they spend more than 30% of their income on housing costs. are considered “house poor,” meaning they spend more than 30% of their income on housing costs. From 2015 to 2019, the percentage of U.S. percent in 2015 to 26.5 percent in 2019.

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California State Senator Proposes $10 Billion Endowment to Help With Home Purchases

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California State Senator Proposes $10 Billion Endowment to Help With Home Purchases. A top California lawmaker is working to create a new program that will help families afford home purchases in the most expensive markets across the state. Housing Policy + Finance. Housing Policy + Finance. if approved. .

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HomeAid Orange County Breaks Ground on New Supportive Housing Development

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The new development involves a strong collaboration between HomeAid Orange County, City of Santa Ana, Mercy House, California Housing Finance Agency, California Department of Housing and Community Development, Orange County Housing Finance Trust, City Ventures, Bassenian Lagoni Architects, and many members of the community.

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Record Appreciation Is Sending Homeowner Wealth Soaring

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Middle-income homeowners have seen their properties appreciate by 68% since 2012, amounting to $122,100 in equity wealth, according to the National Association of Realtors. Similarly, low-income homeowners reported $98,900 in equity gains, and upper-income households accrued $150,800 in equity.

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Billionaire MacKenzie Scott Is Donating Two of Her Homes to Fund Affordable Housing Initiatives

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The organization plans to sell both homes and use 90% of the earnings to fund affordable housing initiatives. Read more Financing Affordability Financing The homes are worth a combined $55 million, CNBC reports.

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These Cities Are Becoming More Affordable for Renters

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More than 40% of renters pay more than a third of their income on housing costs, meaning affordability typically affects renters more than it would homeowners, according to Smart Asset. This year, it moved up to first, outranking both San Francisco and Oakland, California. Housing Markets. Housing Markets.