Sacramento, CA – The California Black Chamber of Commerce is the latest organization to join the growing list of groups urging voters to say YES to Prop 37. The measure will lower the cost of buying a home, making home ownership more affordable for middle class Californians, all at zero cost or risk to taxpayers. 

“Too many Black families have abandoned the dream of homeownership. Rising costs of living have made it nearly impossible for middle class Californians to save the necessary 20% for a downpayment, which is why we’re proudly supporting Prop 37,” said Jay King, President, California Black Chamber of Commerce. “Prop 37 will require just 3% down for qualified middle class home buyers and will help people live in the communities where they work.” 

Prop 37 helps address California’s housing affordability crisis by incentivizing new single family home construction and increasing the supply of brand new homes and is expected to spur construction of roughly 190,000 new homes, generating significant economic benefits throughout the state.

“Prop 37 will not only help more Californians become homeowners, but it does so at no cost to taxpayers, which is a win-win for everyone,” added King. 

The California Black Chamber of Commerce is the largest African American non-profit business organization representing hundreds of small and emerging businesses, affiliates and chambers of commerce throughout the state.