California Passes Down Payment Assistance Plan, but Push To Cut Red Tape Remains in Limbo

California voters headed to the polls on Tuesday to decide three new housing-related ballot measures. While two of them handily passed, votes are still being counted on a plan to cut red tape and streamline environmental reviews for new homes.Voters approved Proposition 1, which authorizes California to issue $11.25 billion in bonds to support housing affordability programs, including multifamily rental housing, permanent supportive housing, and affordable housing. The funding also backs both down payment assistance programs and mortgage programs for veterans.Gov. Gavin Newsom expressed support for the measure, as did the Democratic Party of California. The ACLU, the California Apartment Association, and the California Housing Consortium also supported the measure, although there was some scattered opposition from Republican state legislators."This bond is about building communities, expanding access and affordability in California, where every family has a fair shot at a place to call home," Newsom said in a June statement. Voters backed a similar measure in 2024 that earmarked $6.38 billion for homelessness and veterans housing programs."Higher mortgage rates have squeezed homebu...