California REALTORS® issue statement on Gov. Gavin Newsom's 2024-2025 state budget proposal

LOS ANGELES, Jan. 10, 2024 /PRNewswire/ -- The CALIFORNIA ASSOCIATION OF REALTORS^® (C.A.R.) today issued the following statement in response to Gov. Gavin Newsom's 2024-2025 state budget proposal:

"Housing availability and affordability are closely tied to state revenues and the economic health of California. First-time and first-generation homebuyers face the most significant barriers to homeownership given high costs and lack of inventory," said C.A.R. President Melanie Barker, a Yosemite REALTOR^®.

"We thank Gov. Newsom for his proposal to address the projected state budget deficit. We look forward to continuing to work with Gov. Newsom and the state legislature on forward-thinking policy that, while recognizing the fiscal challenges the state faces, will create a pipeline of entry-level market rate housing that begins to address the state's housing supply and affordability crisis."

Leading the way...® in California real estate for more than 117 years, the CALIFORNIA ASSOCIATION OF REALTORS^® (www.car.org) is one of the largest state trade organizations in the United States, with more than 200,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

SOURCE CALIFORNIA ASSOCIATION OF REALTORS