California continues to deal with a severe housing shortage and this year could have been a game changer for funding for affordable housing. Many housing advocates and organizations hoped the California voters would approve proposition five on the November ballot

California continues to deal with a severe housing shortage and this year could have been a game changer for funding for affordable housing. Many housing advocates and organizations hoped the California voters would approve proposition five on the November ballot

but it ultimately failed. That measure would have made it easier to pass affordable housing and public infrastructure bonds at the local level. For more on all of this, we're joined by KQB D's Ati buddy. She's a reporter on our housing desk adity. Hello Brian.

but it ultimately failed. That measure would have made it easier to pass affordable housing and public infrastructure bonds at the local level. For more on all of this, we're joined by KQB D's Ati buddy. She's a reporter on our housing desk adity. Hello Brian.

So first off, walk me through what happened this year, what did affordable housing advocates want and what did they get? Yeah. So aside from prop five, there were two bonds that affordable housing advocates were really excited about. One was a statewide billion dollar housing bond introduced by East Bay Assembly member, Buffy Wicks. And then there was another regional $20 billion housing bond measure

So first off, walk me through what happened this year, what did affordable housing advocates want and what did they get? Yeah. So aside from prop five, there were two bonds that affordable housing advocates were really excited about. One was a statewide billion dollar housing bond introduced by East Bay Assembly member, Buffy Wicks. And then there was another regional $20 billion housing bond measure

that some affordable housing developers actually tied some of their projects to. But both bonds died on their way to the November ballot. So already advocates and developers were worried about their projects. So prop five was sort of the last hope it would have made it easier to raise local dollars for affordable housing and for public infrastructure projects. And it would have meant that cities and counties don't have to rely so heavily on state funding

that some affordable housing developers actually tied some of their projects to. But both bonds died on their way to the November ballot. So already advocates and developers were worried about their projects. So prop five was sort of the last hope it would have made it easier to raise local dollars for affordable housing and for public infrastructure projects. And it would have meant that cities and counties don't have to rely so heavily on state funding

their projects, but voters decided to reject it. So why do you think Prop Five failed? I spoke to a few housing experts who said because the ballot text was a bit confusing. They say it might have been hard for a voter to determine how they felt about it. If they were just filling out the ballot without any information or context about prop five. Usually when people are faced with a measure, they can't understand they vote no on it. Experts also told me that we're

their projects, but voters decided to reject it. So why do you think Prop Five failed? I spoke to a few housing experts who said because the ballot text was a bit confusing. They say it might have been hard for a voter to determine how they felt about it. If they were just filling out the ballot without any information or context about prop five. Usually when people are faced with a measure, they can't understand they vote no on it. Experts also told me that we're

an economic climate which is making people feel more pinched right now. Anything that could suggest a raise in taxes is not going to be popular. I spoke with Susan Kirsch. She heads this nonprofit organization called the Catalyst Institute for Local Control and she told me that, you know, already people are moving out of California because of high taxes and prop five could have brought a deluge more.

an economic climate which is making people feel more pinched right now. Anything that could suggest a raise in taxes is not going to be popular. I spoke with Susan Kirsch. She heads this nonprofit organization called the Catalyst Institute for Local Control and she told me that, you know, already people are moving out of California because of high taxes and prop five could have brought a deluge more.

There's already more people moving out of the state than moving into the state

There's already more people moving out of the state than moving into the state

that too. I think, you know, because of, because California is such a high tax area is something to be mindful of

that too. I think, you know, because of, because California is such a high tax area is something to be mindful of

that being said, proposition five wouldn't directly have meant more taxes. People would still have to vote on the taxes in order to get them approved. So how are affordable housing advocates feeling now? I mean, what does all of this mean for their projects? Yeah, I spoke to a lot of experts who said,

that being said, proposition five wouldn't directly have meant more taxes. People would still have to vote on the taxes in order to get them approved. So how are affordable housing advocates feeling now? I mean, what does all of this mean for their projects? Yeah, I spoke to a lot of experts who said,

you know, money's going to be really tight. There's no sugar coating it. I talked to Noni Ramos. She's the CEO of Housing Trust Silicon Valley. It's an organization which helps developers finance their projects. And she said she's regrouping with her peers at the moment to figure out what's next. It's going to be less housing built at the moment, right? Until we figure something else, that's what it's going to translate into. She said there were a lot of projects that actually had all the paperwork ready permits done,

you know, money's going to be really tight. There's no sugar coating it. I talked to Noni Ramos. She's the CEO of Housing Trust Silicon Valley. It's an organization which helps developers finance their projects. And she said she's regrouping with her peers at the moment to figure out what's next. It's going to be less housing built at the moment, right? Until we figure something else, that's what it's going to translate into. She said there were a lot of projects that actually had all the paperwork ready permits done,

but just needed a little bit more funding to start construction. And many of those projects were relying on that regional bond measure or Prop five to make up the difference or at least make the financing environment a little bit more flexible to raise the cash. But, you know, without local funding, very little state funding and likely very little federal funding under President elect Donald Trump,

but just needed a little bit more funding to start construction. And many of those projects were relying on that regional bond measure or Prop five to make up the difference or at least make the financing environment a little bit more flexible to raise the cash. But, you know, without local funding, very little state funding and likely very little federal funding under President elect Donald Trump,

it means that those projects won't start construction. They'll just kind of sit in this limbo for a little while until more funding becomes available. But there are some affordable housing

it means that those projects won't start construction. They'll just kind of sit in this limbo for a little while until more funding becomes available. But there are some affordable housing

wins at local levels, right? Maybe if prop five failed something locally still happened. Right. Yeah, that's right. Yeah. At the local level, especially in the Bay area, there's a decent amount of support. You know, San Francisco voters passed PROP B which means, you know, 390

wins at local levels, right? Maybe if prop five failed something locally still happened. Right. Yeah, that's right. Yeah. At the local level, especially in the Bay area, there's a decent amount of support. You know, San Francisco voters passed PROP B which means, you know, 390

million dollars for hospital retrofits and homeless shelters. In San Jose, voters approved a billion dollar school bond which included provisions to build teacher housing. Ok. K qb's Aan, the moody reporter for our housing desk. Thank you. Thanks for having me.

million dollars for hospital retrofits and homeless shelters. In San Jose, voters approved a billion dollar school bond which included provisions to build teacher housing. Ok. K qb's Aan, the moody reporter for our housing desk. Thank you. Thanks for having me.