California officials announced over $414 million in funding aimed at building or rehabilitating 2,099 homes across 16 counties.

The big picture: The majority of these homes will serve low- and extremely low-income residents, with 794 units reserved for households earning up to 30% of the area median income. • Additionally, 866 homes will cater to those earning between 31% and 50% of the area median income, and 408 homes for households earning 51% to 80%.

What they’re saying: Gov. Gavin Newsom emphasized the importance of this investment: “We cannot solve either the homelessness or housing affordability crisis without creating new housing.” • He added, “Today’s announcement will create thousands of new homes for California families, helping hundreds of thousands of people access housi

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