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1 1 (December 19, 2022)

handle is hein.amenin/aeiaemj0001 and id is 1 raw text is: AEI Housing Center Tobias Peter Assistant Director, AEI Housing Center (K *.3Pege a g Edward Pinto Director, AEI Housing Center (Pit twr-i-gnmI-r) December 20221 Summary California is leading the nation in home prices and as a consequence trails on homeownership rate, particularly among low-income and minority households. This outcome is entirely a self-inflicted wound. For decades, California has constrained both infill and greenfield housing development through land use and zoning restrictions, discretionary reviews, and local veto powers.2 Given current high home prices, homes in more and more neighborhoods all over the state are well- suited for Light-Touch Density (LTD). LTD opens up areas for more townhomes, condos, duplexes, triplexes, and ADUs, all of which offer more naturally affordable homes and a needed jumpstart to the filtering process. The AEI Housing Center estimated that LTD applied to greenfield development would add 131,000 additional units over 10 years and applied to infill development would add 613,000 additional units also over ten years.3 This addition of 744,000 net new units over 10 years would add 10% to California's existing single-family housing stock. Fortunately, California has already taken steps in the right direction. With the passage of SB-9, landowners can now build up to four housing units (with a lot split) on lots previously zoned for 1 unit. With the passage of SB-10, cities in transit and amenity rich urbanized areas can now up-zone parcels for two to 10 units without an environmental review. However, more is needed. Clean-up legislation aimed by shoring up some of the shortfalls of both bills' language is needed to make them more effective for homeowners and cities. Planning departments and cities need help and guidance from the state as many local officials are not aware of what these rule changes practically mean for their city, particularly in regards to meeting their Regional Housing Needs Allocations (RHNA) numbers. Adding supply will, however, take time. To support sustainable homeownership for lower-income households in the meantime, it is important to acknowledge that subsidized housing policies that sought 1 The authors would like to thank Hannah Florence, Karl Schneider and Arthur Gailes for excellent research assistance. 2 See California's High Housing Costs: Causes and Consequences, an excellent report by the CA Legislative Analyst's Office. ;; --- - vu-g nsd-- 3 The infill estimate assumes 2% of the currently feasible properties covert to LTD annually. 1

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