Following Friday’s (temporary?) closure of California’s new “Dream For All” homebuyers program, the California Association of Realtors is urging the state to increase funding and re-open applications.
“The California Association of Realtors strongly supports Senate Pro Tem Toni Atkins’ California Dream for All Shared Appreciation Loan and strongly advocated for the $500 million that was allocated to the program in the 2022-2023 state budget. The funding was significantly reduced in the governor’s proposed 2023-2024 budget,” said CAR President Jennifer Branchini.
“The fact that the $300 million in funds was fully committed in less than two weeks of the program’s launch clearly illustrates the demand and desire for working Californians to become homeowners. It’s critical to support this program that creates a pathway to homeownership. We urge the state to honor the full commitment over the next few years as proposed so more working Californians can take advantage of this innovative down payment assistance program.”