California’s $11.25B Homeownership Bond Plan

The proposal pairs California homeownership support with $11.25B in investment, expanding property access and down payment assistance for low-to-moderate-income residents statewide seeking stability.
$10B would support construction and rehabilitation of regulated rental housing, with affordability preserved for at least 55 yr, while buyer assistance offers preferential loan access.
$1.25B is set aside for the state's veterans mortgage program, while broader resources are aimed at military families, farmworkers, students, tribal communities, and vulnerable youth.
Officials say bond repayment would come from borrower mortgage payments, not added taxpayer costs, supporting sustainable down payment assistance and construction activity that creates jobs.
Before reaching voters, the measure still needs legislative and gubernatorial approval; if ratified in the November 3 election, officials say renters could gain ownership paths.