Sacramento, CA – Today, Governor Gavin Newsom has endorsed Proposition 37, bringing affordable homeownership closer for thousands of Californians. The measure tackles one of the biggest barriers to homeownership by helping Californians purchase newly built homes with just 3% down, giving hardworking Californians a fair shot at homeownership.

“Prop 37 is a historic opportunity to expand homeownership opportunities for generations of working families — at zero cost or risk to taxpayers,” said Governor Gavin Newsom. “I’m proud to support a measure that provides innovative solutions to meet the needs of communities across the state.” 

For many Californians, the biggest barrier to buying a home isn’t the monthly payment. It’s the down payment. Proposition 37 is designed to help working families who earn too much for downpayment assistance programs but still cannot save enough to buy a home. 

“Nobody has led on tackling the state’s housing crisis like Governor Newsom. His visionary foresight and leadership are unparalleled, and we are grateful for his support on Prop 37,” said Robert Hertzberg, former Speaker of the California Assembly and Senate Majority Leader, also the proponent of Prop 37. “This measure is an opportunity to help lower the burden for middle class Californians while bringing more housing to the market – the kind of innovative solution that California is known for and that Governor Newsom has helped champion.” 

In addition to lowering the downpayment for eligible middle class Californians, Prop 37 helps address California’s housing affordability crisis by incentivizing new single family home construction and increasing the supply of brand new homes. The measure is expected to spur construction of roughly 190,000 new homes, generating significant economic benefits throughout the state.