By Lori Droste, Housing and Planning Policy Director; Michael Lane, State Policy Director; and Erika McLitus, Housing and Planning Policy Manager, Spur

As Californians see their housing costs rise, the state and some cities are bringing possible solutions to the November 2026 ballot. As part of our ballot analysis, SPUR evaluated two state measures, three San Francisco measures, and one Oakland measure that aim to address housing affordability or impact new housing development. Why are there so many measures related to housing and development, are some more effective than others, and what, if any, effect would they have on each other if they pass? We explain what the measures would do and how some of them would interact. For deeper dives, stay tuned for the SPUR Voter Guide, which will go live October 1 at spurvoterguide.org.

California

The November ballot includes two state-level housing measures: one authorizes state general obligation bonds to support affordable housing production and a homeownership program for veterans and military families, and one authorizes state revenue bonds to encourage new home construction and increase middle-class homeownership through second mortgages.

Proposition 1 would provide $11.25 billion for building affordable housing.

Prop. 1, the Veterans and Affordable Housing Bond Act of 2026, which the State Legislature placed on the ballot, is by far the largest affordable housing bond in California history. It would authorize $10 billion in state general obligation bonds to fund production of affordable rental and ownership housing and supportive housing and $1.25 billion in mortgage revenue bonds to fund a homeownership program for veterans and military families, all without raising taxes. The California Housing Partnership says Proposition 1 would help finance more than 40,000 shovel-ready affordable rental homes and help 20,000 California households become homeowners.