Prop 1 vs. Prop 37: Supply or Buyer Finance?

David’s question: “Hang on. YES on the housing bond, but NO on this one. Which is it?”

Eve: “Prop 1 has a small demand piece, about eleven percent of the bond, riding along on a supply-side meal. Prop 37 is the whole meal: it's all buyer finance. The supporters' case was that "new homes only" means it adds supply. But California YIMBY found ownership-home permits stayed roughly flat from 2019 to 2023, even as prices spiked in 2020 to '22. Builders aren't short of buyers. And the condo defect-liability fix that sounded so good is opt-in, bundled with higher labor standards.”