Thank you for supporting the campaign to save CalHome!
Investing in homeownership provides economic stability and equity for working families and for California.
But…access to homeownership is further from reach for California’s working families than ever before. Only 18% of households in our state can afford to buy a home due to rising
interest rates and elevated prices caused by supply shortages.
CalHome is the ONLY state program providing funding for the production of affordable homes for ownership.
Increasing home production and building more naturally-affordable homes for purchase by California’s working families is the only way to adequately address our state’s housing crisis.
Governor Newsom’s proposed budget for 2024-25 zeroed out the CalHome funding for the upcoming fiscal year AND recommended taking back $152.5 million already allocated to the CalHome program. Nonprofit homebuilders like Habitat for Humanity were counting on this critical investment to help build affordable homes across the state.
Your advocacy has made an impact. But our work is far from over.
The California State Legislature approved and Governor Newsom has enacted a $297B FY25 California state budget. Amid a challenging fiscal year, this final budget comes up $46.8B short, even after $16B in cuts which include $1B in reductions to affordable housing programs across the board.
Those final cuts, unfortunately, include the $152.5M in clawed back CalHome funding that we joined together and rallied to save.
Although we were unable to persuade the Legislature to restore CalHome funding, your involvement has significantly raised awareness about the importance of CalHome and have highlighted its vital role in providing affordable homeownership opportunities to hardworking families in California. Thanks to you, we have fostered legislative champions, formed new partnerships, and kept affordable homeownership a priority for decision-makers in Sacramento and beyond.
Our work is far from over. We will continue to advocate for CalHome to ensure it remains a strong and reliable source of funding for affordable homeownership programs across California.
To that end, we would be grateful if you would stay involved by signing up to receive advocacy action alerts and continue lending your voice to make affordable homeownership a reality for more Californians.
Why homeownership?
Homeownership supports families and strengthens communities across California.
Homeownership creates economic stability.
A fixed, affordable monthly housing cost shields homeowners from unpredictable rent increases. Over time, homeowners build equity, which serves as a valuable financial asset that can be leveraged for education, business ventures, or retirement.
Homeownership promotes racial equity.
Only 55% of Californians own their home - one of the lowest rates in the U.S. The rate is 35% for Black families and 47% for Hispanic families. By investing in affordable ownership production, lower-income Californians, inclusive of Black and Hispanic households that have been denied these opportunities due to decades of discrimination, can access permanently affordable, equity-building homes that serve as the single most effective approach to achieving economic and racial housing equity.
Homeownership improves education and health. Children of homeowners are more likely to graduate from high school and college than children of renter households in the same income level. And better housing quality improves general, respiratory, and mental health.
Homeownership benefits entire communities.
Habitat homeowners set down roots and become involved in their communities. Homeownership increases civic engagement, raises the local tax base, and reduces reliance on long-term public assistance.
“The California Dream - the idea that every person can achieve a better life, regardless of where they start out - is central to who we are as Californians.”
-Governor Gavin Newsom
