patrick.net

Like this won't drive up California prices even higher.

Does this mean illegal aliens and jihadi refugees will start filling in the "Ghost Inventory" houses?

Liberals:"Hey we've got all of these vacant houses, we could just just let them live there."

tvgnus says

May tap up to $6.5 billion in previously underutilized, federal government resources •  Affordable housing simply is not available to a large segment of our society Thousands of Californians could get greater access to housing they can afford under a new initiative by the state Treasurers Office.

This is the ultimate stupidity. We need more housing. We should make lots of land available with permits to builders.
If we did that we wouldn't need to spend a penny of public money.

"Affordable housing" is a scheme to put a few privileged poor people into housing outside the market, while 99% of the population is left to endure the housing shortage on their own.

Builders would rather wait 6 months to sell a $500k McMansion than turn over a $225k home in 6 days on the same lot. Their profit margin is much better on the former.

Builders always prefer to build upper class housing as the profit margin is bigger. What should be done is the state should build affordable housing and collect rents and mortgage payments, then using that money to pay back the costs and build more projects, creating employment as well.

All of the post-rent control, post-mandatory minimum afford housing starts experiences have taught us is that the free market totally fails to build affordable housing.

thunderlips11 says

Builders would rather wait 6 months to sell a $500k McMansion than turn over a $225k home in 6 days on the same lot. Their profit margin is much better on the former.

This is not a good argument for a simple reason: housing is fungible. If some rich guy move to this $500K mc mansion, then an other unit frees up for someone less rich.
This is very simple: As long as there are more units housing will be cheaper.
If there was as many units as families, then by definition, everyone could afford to buy or rent one.

The price is just as high as necessary to exclude enough people from buying/renting their own roofs, to match the number of units available.

All "affordable housing" is doing is changing the mechanism through which these privilege people are chosen.