Opinion | California Has a Home to Sell You
- Voters to decide on massive new lending subsidy program this November
- Billions already burned on housing with zero meaningful results
- Special interests push for deeper taxpayer pockets
- Critics warn of inevitable fiscal disaster and market distortion
Brief Summary
California’s political machine is back at the trough, asking voters to approve yet another multi-billion dollar housing subsidy scheme. Despite decades of pouring taxpayer cash into the void with minimal impact on affordability, the state is doubling down on the same failed playbook that has already turned the region into a fiscal nightmare.
Why This Matters
When the state government decides to play mortgage lender, you pay the price in both taxes and inflation. These subsidies artificially prop up home prices, making it harder for anyone to actually save for a down payment while keeping the housing market in a state of perpetual, state-sponsored bubble. If this measure passes, expect your tax burden to climb while the dream of homeownership remains a mirage for everyone except the special interests raking in the subsidies.