California REALTORS® urge Legislature to act swiftly on SB 50 before January 31 deadline

LOS ANGELES, Jan. 7, 2020 /PRNewswire/ -- The CALIFORNIA ASSOCIATION OF REALTORS^® (C.A.R.) today issued the following statement on Sen. Scott Wiener's Senate Bill 50, which would help address the state's urgent housing shortage and affordability crisis:

"The California Association of REALTORS'^® 200,000 real estate professionals stand with Sen. Scott Wiener (D-San Francisco), Sen. Nancy Skinner (D-Berkeley), mayors and other housing advocates who are united in urging the Legislature to approve Senate Bill (SB) 50 ? a bill we're co-sponsoring, along with California YIMBY and the Nonprofit Housing Association of Northern California," said C.A.R. Treasurer Jennifer Branchini, an East Bay REALTOR^® who spoke at this morning's press conference.

C.A.R. joined bill authors Sen. Wiener and Sen. Skinner, along with Oakland Mayor Libby Schaff, and housing advocates on the steps of Oakland City Hall to announce the amended SB 50. Lawmakers have until January 31 to pass bills introduced in 2019.

"If we're truly serious about increasing the supply of housing, SB 50 must be passed. A recent study found that SB 50's reforms could increase housing by 400 percent and increase affordable housing by 500 percent. Californians desperately need housing, and the time to act is now," said C.A.R. President Jeanne Radsick.

"Bold and focused leadership is required to solve California's housing and affordability crisis, and 2020 can be the year we advance meaningful solutions that will result in a brighter housing future for all of us," Radsick said.

Leading the way... ® in California real estate for more than 110 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® (C.A.R.)