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73 August 2025 J O U R N A L themortgagepoint.com August 2025 » United Brotherhood of Carpenters, said: "By streamlining housing construc- tion, this budget will provide the legal foundation to get more homes built, bring housing costs down, and add stronger enforcement of wage laws for thousands of construction workers on the job." Gov. Newsom's budget includes $500 million for the Homeless Housing, As- sistance and Prevention (HHAP) Round 7 in 2026-2027, contingent on enhanced accountability measures that require districts to maintain a compliant housing element, adopt encampment policies aligned with Administration guidance, and accept the reallocation of funds from districts that fail to meet performance benchmarks to those that deliver results. Additional investments in homeless- ness response include: • $81 million for the Home Safe Program • $100 million for Encampment Reso- lution Funds • $81 million for the Bringing Families Home Program These targeted investments are de- signed to strengthen local capacity, while reinforcing performance and compliance. Building on continued support from voter-approved Proposition 1, Gov. Newsom announced nearly $103 million in Homekey+ awards to five counties. This first round of funding will create more than 315 permanent supportive housing units, which include housing with supportive services for veterans and individuals experiencing or at risk of homelessness due to mental health and/or substance use disorders. These homes are projected to serve thousands of residents over their lifetime. This initial round is part of a larger investment: $1.033 billion in Proposition 1 bond funds will be available through Homekey+ for cities, counties, housing authorities, and Tribal entities to devel- op housing for veterans. An additional $1.11 billion is available for projects serving broader target populations, sup- ported by a combination of Proposition 1 and HHAP funds. Homekey+ applica- tions are being reviewed and approved on a rolling basis—HCD has received 67 applications requesting more than $1.14 billion as of June 24. Between 2014 and 2019—before Governor Newsom took office—unshel- tered homelessness in California rose by approximately 37,000 people. In 2024, while homelessness increased nation- ally by over 18%, California limited its overall increase to just 3%—a lower rate than in 40 other states. The state also held the growth of unsheltered home- lessness to just 0.45%, compared to a na- tional increase of nearly 7%. States like Florida, Texas, New York, and Illinois saw larger increases both in percentage and absolute numbers. California also achieved the nation's largest reduction in veteran homelessness and made meaningful progress in reducing youth homelessness. "We applaud the governor and the legislature for this breakthrough reform package to streamline housing produc- tion," said Matthew O. Franklin, President and CEO, MidPen Housing. "We know that increasing housing supply is key to solving our affordability crisis and are confident these measures contribute to a future with more affordable, environmen- tally sustainable housing options for all Californians." YOUNG HISPANIC FAMILIES FACING STEEPER BARRIERS TO HOMEOWNERSHIP M any young Hispanic families in the United States face sig- nificant obstacles on the path to homeownership, according to a new analysis from the Joint Center for Hous- "We know that increasing housing supply is key to solving our affordability crisis and are confident these measures contribute to a future with more affordable, environmentally sustainable housing options for all Californians." —Matthew O. Franklin, President & CEO, MidPen Housing