CA AR76

California's homeownership rate of 56% ranks 49th nationally, with only 18% of households able to afford the median-priced home in 2024 and a housing deficit of nearly 900,000 units as of 2021.

Significant racial disparities exist in homeownership: Latinx households are approximately one-third less likely and Black households are nearly one-half as likely to own homes compared to White households.

The resolution affirms the CalHome Program as California's only dedicated state program for building and preserving affordable homeownership for lower-income families since 2000.

The Assembly recognizes affordable homeownership's role in building generational wealth, improving children's educational outcomes, increasing civic participation, and reducing reliance on government assistance.

Copies of the resolution will be transmitted to the Governor, legislative leadership, and housing officials to underscore commitment to expanding affordable homeownership supply.