If the bond measure passes, the state would be able to borrow up to $25 billion to set up a new loan program to help people afford down payments on new home purchases.

A newly created regional housing finance authority for the entire San Francisco Bay Area will send a bond of up to $20 billion to the ballot. But the fate of its statewide counterpart looks bleak.

Why did the homelessness crisis become more dire in 2023, even as the Legislature passed more affordable housing laws? Home prices and rents are still increasing.