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Newsweek: California Housing Market Could Change Under New Bill
March 2, 2026—Newsweek reports on Senate Bill 1091, introduced by Senator Anna Caballero with co-authors Senator Christopher Cabaldon and Assemblymember Matt Haney, which would create the Community Anti-Displacement and Preservation Program (CAPP) to finance the acquisition and rehabilitation of market-rate housing units and convert them to long-term affordable homes—with $500 million in proposed bond funding backing the effort.
The bill addresses a crisis in which California faces a deficit of up to 1.3 million affordable units, with the median home price nearing $780,000—nearly double the national median. Public Advocates’ legislative counsel Andrés Ramos, a co-sponsor, pointed to decades of disinvestment and redlining as root causes: “New data shows that even in cities building at scale, lower-income renters are being left behind and paying more.” CAPP would put state resources directly in the hands of communities—through nonprofits and local public entities—to preserve the homes families already live in before speculators can flip them and raise rents.