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line 1 California: San Jose-Sunnyvale-Santa Clara, Los Angeles-Long <br /> line 2 Beach-Santa Ana, Fresno, and Stockton. <br /> line 3 (e)  California continues to have the second lowest <br /> line 4 homeownership rate in the nation, and minimum wage earners <br /> line 5 have to work 120 hours per week to afford the average <br /> line 6 two-bedroom apartment. <br /> line 7 (f)  Millions of Californians are affected by the state’s chronic <br /> line 8 housing shortage, including seniors, veterans, people experiencing <br /> line 9 chronic homelessness, working families, people with mental, <br /> line 10 physical, or developmental disabilities, agricultural workers, people <br /> line 11 exiting jails, prisons, and other state institutions, survivors of <br /> line 12 domestic violence, and former foster and transition-aged youth. <br /> line 13 (g)  While the current credit and foreclosure crisis has resulted <br /> line 14 in reductions in home prices in some areas, it has increased pressure <br /> line 15 on the rental housing market and slowed new housing production <br /> line 16 of all types, exacerbating the mismatch between the ever-increasing <br /> line 17 number of households that need housing they can afford and the <br /> line 18 supply. <br /> line 19 (h)  California’s workforce continues to experience longer <br /> line 20 commute times as persons in the workforce seek affordable housing <br /> line 21 outside the areas in which they work. If California is unable to <br /> line 22 support the construction of affordable housing in these areas, <br /> line 23 congestion problems will strain the state’s transportation system <br /> line 24 and exacerbate greenhouse gas emissions. <br /> line 25 (i)  Many economists agree that the state’s higher than average <br /> line 26 unemployment rate is due in large part to massive shrinkage in the <br /> line 27 construction industry from 2005 to 2009, including losses of nearly <br /> line 28 700,000 construction-related jobs, a 60-percent decline in <br /> line 29 construction spending, and an 83-percent reduction in residential <br /> line 30 permits. Restoration of a healthy construction sector will <br /> line 31 significantly reduce the state’s unemployment rate. <br /> line 32 (j)  The lack of sufficient housing impedes economic growth <br /> line 33 and development by making it difficult for California employers <br /> line 34 to attract and retain employees. <br /> line 35 (k)  To keep pace with continuing demand, the state should <br /> line 36 identify and establish a permanent, ongoing source or sources of <br /> line 37 funding dedicated to affordable housing development. Without a <br /> line 38 reliable source of funding for housing affordable to the state’s <br /> line 39 workforce and most vulnerable residents, the state and its local <br /> line 40 and private housing development partners will not be able to <br />96 <br />— 4 —SB 391 <br />