GOP Nominee Steve Hilton has proposed cutting fees, offering tax incentives and speeding up housing approvals to address California’s affordability crisis and help younger residents achieve homeownership.
Hilton Targets California Housing Regulations
On Sunday, Hilton criticized California’s housing policies in a post on X, saying, “Young Californians are losing hope they’ll ever own a home.”
He blamed “fees, regulations, and endless delays” in Sacramento for making starter homes “too risky and expensive to build.”
“I’ll lower fees on smaller homes, offer tax incentives, and fast-track approvals to give the next generation a real chance to stay in California,” Hilton wrote.
Hilton Criticizes California’s Cost of Living
In another post, Hilton said Californians were more concerned about “gas prices, electric bills, housing costs, homelessness” than President Donald Trump.
He blamed “sixteen years of one-party rule” for worsening conditions and said people were at “BREAKING POINT” ahead of the election.
Housing Affordability Concerns Grow
Last week, Hakeem Jeffries (D-N.Y.) accused Trump and House Republicans of breaking their promise to lower costs, saying Americans were still paying too much for groceries, housing and health care.
Sen. Mark Kelly (D-Ariz.) said young Americans were struggling with rising living costs and pledged to fight to lower expenses and give them “a fair shot.”
SkyBridge Capital founder Anthony Scaramucci said the gap between median income and home prices made homeownership unaffordable, while ProCap Financial CEO Anthony Pompliano called rising home prices a “silent wealth transfer.”
Last month, Sen. Elizabeth Warren (D-Mass.) said affordable housing investments supported “more stable families,” “better schools,” and “stronger local economies,” highlighting her 21st Century ROAD to Housing Act, which became law in July.
JP Morgan Warned of Housing Affordability Crisis
Earlier this month, J.P. Morgan analyst Bennett Parrish said renting remained cheaper than owning a home in most major U.S. metro areas, but housing costs had outpaced income growth for decades.
Homeownership among Americans under 35 fell from 39% in early 2022 to a nine-year low of 35%, while elevated mortgage rates continued to squeeze buyers.
The firm said U.S. housing affordability remained near its worst level since the Global Financial Crisis, with the market effectively “frozen.”
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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