There is a hot California topic regarding real estate that you are going to continue to see in the news (if you have not already) California Senate Bill 50 (SB50). It’s been called an extreme measure in response to the state’s extreme housing crisis by the LA Times, and is known as The More HOMES (Housing, Opportunity, Mobility, Equity & Stability) Act by proponents. We have included some facts and talking points regarding this highly controversial bill below and encourage you to seek out your own resources and information as well as this story unfolds.
| Originally proposed by State Sen. Scott Wiener, SB50 merged with Sen. Mike McGuire’s SB4 on April 25. The proposal now aims to increase housing along some of California’s transit hubs and allow the creation of fourplexes-by-right across much of the state.
| According to the San Jose Mercury News: “Senate Bill 50 — already hotly debated — [would] allow property owners broad rights to turn single-family homes and vacant lots into two-, three- and four-unit homes and apartments.”
| Housing Activist Alfed Twu (as reported by SFCurbed) believes that the new changes will “echo how Californian cities were built prior to the downzonings of the mid-20th century: mid-rise buildings near rail stations, small apartments and townhouses near workplaces, and a mix of houses, duplexes, and fourplexes in most suburban neighborhoods.”
| In a policy brief from UC Berkeley’s Urban Displacement Project, SB50 is explained in relation to the country’s increasing policy strategy and consideration of upzoning (relaxing zoning code to allow for increased density or greater building height) as a strategy to address housing shortages.
UPZONING CALIFORNIA: WHAT ARE THE IMPLICATIONSOF SB 50 FOR BAY AREA NEIGHBORHOODS?
NEW SB 50 CHART WILL HELP YOU MAKE SENSE OF CALIFORNIA’S TRANSIT-HOUSING BILL
IS THIS A SOLUTION TO CALIFORNIA’S HOUSING CRISIS, OR A THREAT TO SINGLE-FAMILY HOMES?
LEGISLATIVE COUNSEL’S DIGEST SB 50
MORE THAN 60 PERCENT OF CALIFORNIANS BACK TRANSIT-HOUSING BILL, ACCORDING TO POLL
This article is for informational purposes only. The Bobbi Decker Team is not endorsing nor opposing the policy issue at hand, but simply drawing attention to a housing topic that is currently in committee.
All my best,
Bobbi Decker, SRES®, CIPS®
Broker Associate, Today Sotheby’s International Realty
Bobbi Decker & Associates
Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/