A ballot measure is asking voters whether $25 billion can be aimed at the down payment problem without raising taxes.
The California Middle Class Home Ownership and Family Home Construction Act would fund down payment assistance and new construction through revenue bonds rather than new taxes, with repayment triggered on sale or refinance.
The qualifying rules are specific: California residency, primary residence only, a 3% minimum cash down payment, demonstrated ability to make monthly payments, and a cash flow analysis as a qualifying path. The stated goal is roughly 190,000 new homes.
The full explainer
What the measure actually is, how $25 billion works without new taxes, exactly who qualifies, and who is backing it and why.
This dispatch is a summary. The complete piece is published on harvrealtor.net.
Harv Balu, REALTOR®, DRE #02195792, REALTY EXPERTS®. Describes a proposed ballot measure as of April 2026. General information only, not legal, tax, or voting advice.