Gubernatorial Race to Solve the Housing Crisis

David Waite is a partner at Cox, Castle & Nicholson.

The California primary election is over, and we officially have our two candidates for the governor’s seat. Gavin Newsom and John Cox will face off for the position of California’s next governor, and it has become clear that the housing and affordability crisis is going to take center stage in the election. While both candidates are acknowledging there is an issue, Newsom and Cox have very different solutions to solve the housing crisis, but there are some similarities as well. David Waite, partner at Cox, Castle and Nicholson, gives us some insight into where the candidates fall on the housing issues.

“Newsom is very supportive of creating more housing in the state. From a recent LA Times article: He wants developers to build 3.5 million homes from when he takes office through 2025, which would be an unprecedented building boom compared with modern California history,” Wait tells GlobeSt.com. “He wants a fivefold increase in a state tax credit to finance low-income housing, bringing the state budget cost to $500 million a year. And Newsom supports eliminating regulations that he contends make it difficult for developers to produce middle-income homes.”