SACRAMENTO – Today, the California State Assembly’s leader, Speaker Robert Rivas tasked Assemblymember Anamarie Avila Farias to co-chair the newly formed Select Committee on Housing Finance and Affordability, a new effort to find ways state policies can support housing development and bring down costs.
The select will serve as a key piece of the Assembly’s commitment to focus on addressing Californians’ concerns about the cost of living.
“Housing costs are strangling the promise of the California Dream for many families now and, if we don’t act, will be even worse for the generations that follow,” said Assemblymember Avila Farias. “Building new housing that enhances our communities and gives working families a bit of economic breathing room is my top priority.”
“We can’t afford to leave any housing solutions on the sidelines,” Assembly Speaker Robert Rivas said. “This Select Committee will take a hard look at how we finance affordable housing in California, and identify essential, scalable strategies that reflect today’s economic reality.”
In 2023—the most recent year with full data—California built 115,000 new housing units, including just 20,000 affordable homes. To meet the state’s goal of 2.5 million new homes by 2030, we need to build around 380,000 units per year. The Select Committee will focus on identifying high-impact solutions that work in today’s high-interest rate environment, with an emphasis on reforming existing programs and removing barriers to production.
As part of a broader strategy to address California’s affordability crisis, Speaker Rivas has formed four new Select Committees focused on key cost drivers: expanding access to affordable child care, ensuring all eligible Californians receive food assistance, accelerating and scaling housing finance, and investigating the impacts of California’s Low Carbon Fuel Standard program. Together, these committees reflect a coordinated effort to lower costs and build long-term economic stability for working families.
