Community Real Estate

Middle-Class Homeownership Act qualifies for the ballot
Source: CALIFORNIA ASSOCIATION OF REALTORS®

The Middle-Class Homeownership Act has officially qualified for the state’s November ballot as part of the campaign to build new housing and make home loans affordable for middle-class Californians. The measure enables middle-income Californians to purchase a new home with only 3 percent down, while spurring a wave of new home construction, at no cost to taxpayers.

The measure would authorize $25 billion in revenue bonds to provide low-interest, downpayment-assistance loans to eligible Californians. It will also fuel construction of approximately 190,000 new homes, generating significant economic benefits across the state. For more information, go to www.cahomescoalition.com.