California Housing

Homelessness has been an issue in California for many years with potential solutions constantly being drummed up.  Now though Airbnb has gotten involved in this issue with its recent pledge to invest $25 million which would be put toward the goal of creating affordable housing in California.  In the past, money has been put toward the problem from large corporations including Facebook, Google and Microsoft as well.

This money would be put in the two states most severely impacted by rising housing costs and increased homelessness: San Francisco and Los Angeles. 

The Trump administration recently arrived in LA to form a deeper comprehension of the homeless camps there.  Over the summer, the city’s Mayor asked the President to tour the streets of LA that he believes are home to over 35,000 people each night.

Another solution is rent caps which was approved by state legislators and will impact millions of tenants.  This has been one of the most significant initiatives taken to address affordable housing as it limits annual rent increase to 5 percent after inflation as well as implementing new impediments to eviction.  This would lead to greater rental security as well.  This legislation was reinforced by Governor Gavin Newsom who has prioritized tenant protection in his first year in office.