CCIH Housing Matters: Summer 2018

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SUMMER 2018

A Promising Solution to Help End the Affordable Housing Crisis

I

t is no secret that we are experiencing a housing crisis in our community. In fact, one in three Californians cannot afford rent. According to the County’s 2016-2017 Continuum of Care annual report, the County’s median rent has increased 25 percent since 2000, while median renter income has decreased three percent (adjusting for inflation). The lack of affordable housing has made it near impossible for many families and seniors trying to make ends meet. However, with your help, we can work to make more affordable housing a reality by supporting the Veterans and Affordable Housing Bond Act, which is on the ballot this November. This act will allocate four billion dollars in state funds towards new construction, rehabilitation, and preservation of permanent and transitional affordable housing for low-income and veteran residents. This also includes three-hundred million for home loans for formerly homeless and poverty impacted families. Homeownership is a principal source of wealth accumulation for most Americans, and provides protection from rising housing costs. Homeownership is an effective way of helping break the intergenerational cycle of poverty. Because housing alone is not sufficient for most families to recover from homelessness, the Veterans and Affordable Housing Bond Act also includes funding toward direct services, which are vital for families and individuals that are recovering from the trauma of homelessness. The Veterans and Affordable Housing Bond Act will not only help shelter those facing housing insecurity, it will also provide the most vulnerable

members in our community – working poor families, children, seniors, and people with disabilities - with vital support services to help them successfully transition into stable homes, permanently. Supporters of the Veterans and Affordable Housing Bond Act include Housing California, Affordable Housing Now, Habitat for Humanity, Mercy Housing, Resources for Community Development, and the City of Walnut Creek. Contra Costa Interfaith Housing is also a proud supporter of the Veterans and Affordable Housing Bond Act, and we encourage the CCIH community to help get this important bond passed this November. Loans and mortgage assistance Research on lowering construction costs

10% 10%

Funding for housing nonprofits

10%

Home purchase assistance

5%

Improving neighborhoods to improve housing Improving transit for low income areas Repairing and constructing additional housing

BUDGETING

10%

5%

50%


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