California has a housing shortage, and the homes we most desperately need are affordable units that low-income and working people and families can afford. Proposition 5 on this November’s ballot takes us a critical step closer to tackling that affordable housing shortage by lowering the margin needed to pass housing bonds, as well as public infrastructure bonds, to 55%.

With Prop 5, we’ll have more housing

Proposition 5 lowers the vote margin for bonds to finance affordable housing construction and public infrastructure, including bridge repairs, broadband, educational facilities, parks, libraries, and flood protection.

Thousands of shovel-ready affordable units in the Bay Area are waiting for financing. If Prop 5 passes, Bay Area voters would have a better chance to pass a historic $20 billion affordable housing bond in an upcoming election. That measure was pulled from the 2024 ballot but is ready to go to the voters in the future.

The politics of housing finance

In recent years, California legislators have passed laws to reduce roadblocks to constructing more housing, particularly homes near transit hubs. But financing remains a barrier, particularly for affordable units. California’s history of anti-tax activism has placed an almost insurmountable burden on local and regional governments that want to do the right thing by building their way out of the housing crisis. 

Prop 5 isn’t the most exciting proposition before voters this fall. It’s wonky: we’re voting on how to vote. But it could be one of the most consequential measures on the ballot. 

California voters will start getting their ballots the second week of October. Will you pledge to vote YES on Prop 5 for more affordable housing?

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Regional housing measure can come back stronger 

The historic regional housing bond originally on the ballot as Regional Measure 4 was pulled because of concern it might not pass. Transform’s analysis showed that the measure would not only finance thousands of new housing units but also move the Bay Area closer to our climate goals, reducing driving and creating vibrant, dense neighborhoods near transit.

We must pass Proposition 5 because we also need the regional housing measure. Please vote YES on Prop 5.