California Candidates for Governor Offer Different Visions on Housing

The midterm elections are now just hours away, and California voters prepare to head to the polls to elect their next governor, with the state's housing shortage taking center stage. The contest is among the highest-profile of the 36 gubernatorial races taking place across the U.S. this cycle. Former Secretary of Health and Human Services Xavier Becerra, a Democrat, and Fox News contributor Steve Hilton, a Republican, are the front-runners vying to replace termed-out California Gov. Gavin Newsom.The Golden State's 41st governor will inherit an acute housing affordability crisis alongside a roster of state-specific challenges: a controversial billionaire tax proposal, persistent homelessness, an insurance market undermined by wildfire risk, and escalating policy battles surrounding artificial intelligence.Everyday Californians' purchasing power continues to be severely squeezed by scarce buildable land, restrictive zoning rules, and slow permitting pace holding back new construction, exacerbated by high inflation and mortgage rates exceeding 7%.On this year's Realtor.com® State-by-State Housing Report Card, part of the Let America Build campaign, California was among six states to e...