A bunch of big-money promises: Newsom’s housing budget explained
No wonder Gov. Gavin Newsom dropped those hints recently about an upcoming “Marshall Plan” for affordable housing.
Sure, he’d made ambitious campaign promises to combat California’s housing crisis: leading the effort to build 3.5 million units over the next seven years (an unprecedented rate), jacking up state subsidies for housing reserved for lower-income Californians, and easing regulations so that it would be easier to build all types of new housing. But what would he deliver?
We got the first glimpses of his plans when Newsom unveiled his first governor’s budget. And it’s a big...