SACRAMENTO—A bill aimed to increase the number of first-time home buyers in the state of California through the California Statewide Housing Plan was approved today by the governor. Assemblymember James Ramos (D-San Bernardino) introduced the measure, AB 1508.
Ramos said: “AB 1508 asks the California Department of Housing and Community Development (HCD) to include a focused, informed goal to increase homeownership among first-time home buyers in the Statewide Housing Plan, especially amongst our minority communities.”
Specifically, the bill requires the Department of Housing to incorporate analyses of first-time homebuyer assistance programs and recommendations in its state housing plan to increase first-time homebuyer attainment rates. Statewide Housing Plan updates occurring after January 2024 are to include information about how the updates will affect first-time homebuyer opportunities and an evaluation of demographic disparities in homeownership related to race, ethnicity, household income, household size, age, and disability status. It also requires the Department to consult with other departments and agencies to better inform the state housing plan.
AB 1508 is sponsored by the Two Hundred for Homeownership, a non-profit whose focus is to increase rates of first-time homebuyers in the State. A partial list of supporters include California Community Builders, Habitat for Humanity California, California Association of Realtors, Inland Empire Latino Coalition, Southern California Association of Governments, Southern California Leadership Council and Southern California Black Chamber of Commerce.
Robert Apodaca, Executive Director of the Two Hundred for Homeownership, said the following: “AB 1508 makes homeownership a priority. With this bill now law, we can monitor first-time home buyers and the rate at which they increase in California. This is especially important as owning homes is a great pathway to building generational wealth.”
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Assemblymember James C. Ramos proudly represents the 45th Assembly district which includes the Cities of Fontana, Highland, Mentone, Redlands, Rialto and San Bernardino. He is the first and only California Native American serving in the state’s legislature. Ramos chairs the Assembly Committees on Rules.