Sacramento, CA – Proposition 37, first-in-the-nation ballot measure that lowers the cost of buying a home and boosts new construction of affordably priced homes, passed with overwhelming support, with 60% percent support in early returns as of Tuesday evening which is expected to grow as more ballots are counted.

The measure is a first ever solution that helps Californians purchase newly built homes with just 3% down with zero cost and zero risk to taxpayers.

“Today is a major step forward in addressing California’s affordable housing crisis, with the passage of Proposition 37, which gives hardworking Californians a fair shot at homeownership.

Thanks to the leadership and support from the California Association of REALTORS®, California Conference of Carpenters, and a broad-based bipartisan coalition, we can protect the dream of homeownership for teachers, nurses, firefighters, small business owners, and working families.

Under Prop 37, Californians who work hard, pay their bills, and can afford a monthly mortgage – but don’t have the massive $180,000 required for a traditional 20% down payment – can buy a home in the community where they work, build equity, stability and security, raise a family, and afford to stay in California.

Today’s victory is a decisive first step to create generational homeownership opportunities in California. Now that voters have overwhelmingly voiced their support, we must get to work bringing Prop 37 to life and making the dream of homeownership a reality.” 

-Bob Hertzberg, Prop 37 Proponent & Former Assembly Speaker & Senate Majority Leader