Published in cooperation between Bay East Association of REALTORS®, California Association of REALTORS® and the Tri City Voice.
According to the UC Berkeley Institute of Governmental Studies, Californians say housing affordability and the cost of living are the main issues on the minds of individuals and families living in the Golden State. U.S. News & World Report ranks California as the least affordable in the nation with much of the ranking tied to struggles in a housing market that features home prices that are well out of reach for many in the state. This is why REALTORS® continue to advocate for solutions to increase the housing supply and make the dream of homeownership a reality for all.
The good news is there is a growing consensus among elected officials from both parties, community advocates, the building industry and businesses that bold action on housing is needed. Diverse coalitions across the state are answering the call to build more housing with a goal to make California a place where people can afford to live, thrive and own a home.
But amid this momentum, it’s critical to recognize a key truth—not all housing solutions are created equal. While increasing rental housing is a necessary part of the equation and one REALTORS® support, we cannot afford to lose sight of the cornerstone of a long-term strategy. Expanding access to homeownership is crucial for not just making housing affordable but also for creating equity and economic stability in California.
Homeownership is more than just a milestone of personal achievement; it’s a powerful engine for housing stability, wealth-building, community stability and generational opportunity. For working Californians, owning a home is the most reliable path to economic and housing security and upward mobility for themselves and the generations that follow. This is especially true for communities of color that have historically been excluded from homeownership opportunities.
That’s why it’s important to recognize and uplift leaders who are not only responding to the housing crisis but doing so with an eye toward long-term solutions that prioritize homeownership. Among these leaders is Senator Aisha Wahab, whose work reflects a deep understanding of housing’s role in economic justice.
Sen. Wahab has shown a commitment to ensuring that California’s housing policies include increased opportunities for homeownership for working Californians. She made this commitment clear during the California Senate Floor Session on May 29 where she emphasized that housing affordability must be a focus of the Legislature―and that includes prioritizing homeownership opportunities. She fought and secured $300 million in this year’s state budget to assist with creating more homes and expanding homeownership opportunities through the California Dream for All program.
Sen. Wahab’s advocacy highlights a crucial balance: supporting the creation of new rental housing to meet immediate needs while also recognizing the need to build new homes that provide ownership opportunities for our state’s diverse residents. This balance is vital. We must continue to build, innovate and invest—but we must do so with a clear-eyed focus on who benefits and how. Thanks to the leadership of advocates like Sen. Wahab, we are reminded that a truly affordable and equitable California is one where homeownership is not a luxury, but an achievable reality for all.
