"California has made significant efforts to address housing affordability through numerous new laws under Gov. Gavin Newsom. Candidates seeking to replace the term-limited Newsom, however, act as if little has been accomplished. The laws lacked swift, decisive enforcement to push the affordable goal, according to California billionaire Tom Steyer, a former presidential candidate and the latest entrant. We are so overregulating, Steyer said on a recent Brian Tyler Cohen podcast. We're regulating to the point of the perfect is the enemy of the good."
"With affordability firmly on the nationwide ballot, Steyer's criticism aligns with a common theme among the nine other candidates. Although similar, their messages display some nuance. Democratic candidates mostly discuss regulation in terms of improving approval processes and fixing fragmented systems, not reducing the regulatory state overall. They usually advocate for smarter, faster procedures to boost housing production while still enforcing tenant, labor, environmental, and fair-housing protections."
"Republican contenders argue that California's high costs and housing shortages are caused by an overregulated, high-tax environment. They view regulation as the main issue and advocate for widespread rollbacks. Progressive and left candidates also criticize regulation, but often mean how rules are applied, not just their existence. They argue that current regulatory and funding systems favor large developers and criminalize unhoused people."
California enacted numerous housing laws under Gov. Gavin Newsom but enforcement and implementation have been insufficient to quickly expand affordable housing. Tom Steyer and other gubernatorial candidates emphasize overregulation and outdated zoning as major barriers to increased housing production. Democratic candidates prioritize streamlining approvals and fixing fragmented systems while maintaining tenant, labor, environmental, and fair-housing protections. Republican candidates call for broader regulatory rollbacks and tax changes to reduce costs. Progressive candidates criticize the application of rules and funding biases that favor large developers and harm unhoused people. Steyer proposes building 1 million homes in four years; Tony Thurmond proposes a $10 billion bond and 2 million units by 2030 using surplus public lands.
Read at www.housingwire.com
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