""McCormick's moderate-income apartment is part of California's effort to keep its middle class from moving away. The state has a goal to build 2.6 million new units by 2032.""
""Still, five years into its plan, developers in California have built only 22,316 moderate-income units. With high interest rates and rents not growing as some predicted...""
Christopher McCormick, a software developer, qualifies for affordable housing despite a common misconception. His experience reflects California's broader strategy to build 2.6 million new units by 2032 to retain its middle class. With only 22,316 moderate-income units constructed so far, developers assert that financial incentives are needed to facilitate more rentals. The debate persists on whether to direct efforts towards rental or ownership opportunities, acknowledging that both are essential to combat the state's significant housing affordability challenges.
Read at The Mercury News
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