Image Up Advertising & Design

| LIFE IN SOLERA | JUNE 2024 | | LIFE IN SOLERA | JUNE 2024 | 7 California's housing crisis recently took center stage in the state capital at a discussion forum. ese conversations featured Pilar Schiavo (40th District) and Chris Ward (78th District) moderated by C.A.R President Melanie Barker. e conversation ranged from insurance and state budget to housing supply and affordability to homelessness and climate issues. More bills than ever before this year deal with addressing the housing crisis, indicating a large political will towards solutions designed to result in more production and delivery of housing at every level. "A lot of the work we need to do in our solutions to meet the population's need is in supply and making sure there is a supply there for every family of every part of the economic spectrum so that they have a place here in California to call home. As chair of the housing committee this year we've seen more pieces of legislation than ever." - Assemblymember Chris Ward Policymakers are looking at all potential solutions to advance housing and eliminate barriers. "It's something that we want to make sure that there is needed protection but also not a barrier that delays projects for years and years because of frivolous lawsuits." – Assemblymember Schiavo To help bring insurers back to the marketplace, a broad coalition – comprised of real estate industry experts, insurance companies, the California Department of Insurance and others is exploring multiple options, including the development of catastrophic modeling tools available in 49 other states. is aims at reducing pressure on the remaining insurers which can help bring rates down. "C.A.R is lending its weight to support new regulations to stabilize the market and allow for more companies to enter and come back." – Sanjay Wagle, C.A.R. SVP, Government Affairs. Many other efforts are also underway, including creative funding programs to help address homelessness, rent control and other issues. "It's the cumulation of all the work we're trying to do that will add up to a lot. In San Diego where we used to be doing 2,000 or 3,000 permits of new housing a year, this year we are up to 9,000 units of housing under permit right now. And we are seeing a stabilization in the rents. I do see a lot of political will and energy, but looking at the totality of the bills we are working, on, it's going to add up to turning the trend lines around and solving California's housing crisis." – Assemblymember Ward Source: www.car.org/aboutus/mediacenter/news REAL ESTATE REPORT CA L I F O R N I A'S H O U S I N G C R I S I S By Glenn and Nona Bradd, Associate Brokers and Residents STATE LEGISLATORS SHARE KEY INSIGHTS

• Cover