C.A.R. Convenes “Housing Affordability and California’s Future” Real Estate Summit with Leading Experts in Policy, Academia, and Business

Summit to explore affordability, the state’s most pressing housing issue

LOS ANGELES – (November 1) – (RealEstateRama) — The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) will present its second real estate summit at an event that will focus on housing affordability, the state’s most pressing housing issue. Industry leaders from financial institutions, government agencies, academia, real estate, public policy, business, and investing will engage in deliberate and impactful discussions with the goal of generating cogent action items for the state of California via the valuable input of stakeholders and thought leaders.

“Housing Affordability and California’s Future” will also feature a keynote speech by Carol Galante, I. Donald Terner Distinguished Professor in Affordable Housing and Urban Policy and the Faculty Director of the Terner Center for Housing Innovation at the University of California, Berkeley.

“California’s high cost of housing is putting the squeeze on the state’s residents, making it difficult to attain the American Dream or just keep a roof over their heads,” said C.A.R. Chief Executive Officer Joel Singer. “With a historical low homeownership rate of 54 percent and skyrocketing rental costs, the dream of owning a home in California is evaporating.”

“Our teachers, nurses, firefighters, police officers, and other middle class workers should be able to afford to live in the communities they serve. C.A.R. recognizes the urgency of this crisis, and gathering the state’s top minds and most influential leaders will help us better understand what solutions we can undertake,” Singer said.

The summit seeks to draw on the ideas, thoughts, and resources of top leaders to discuss the policy, economics, and real estate aspects of housing affordability. The three panel topics include:

Housing Affordability in a Post-Brown California: Policy Solutions for the Next Administration– Panelists will recommend solutions the next administration can pursue to advance the best housing affordability solutions. Panel may explore the resurrection of redevelopment in Gov. Brown’s absence, the continuance of strict budgeting framework established by Brown, and the fate of legislation without Brown’s influence.

The Economics of Housing Affordability – The panel will examine the economic implications of insufficient affordable housing for the state of California and economic-based solutions, including how financial products, services, and institutions should evolve in order to encourage housing affordability, minority access to homeownership, and greater consumer access to information.

Residential Real Estate Development and Affordability: Supply, Zoning, and Land Use in California – This panel will address issues related to supply, zoning, and land use that contribute to the state of residential housing development in California, including commentary on transportation corridors, the workforce, job development, and issues of economic equity.

Summit panelists include: Pete Peterson, Pepperdine University; Ben Metcalf, California Department of Housing and Community Development; Matt Schwartz, California Housing Partnership Corporation; Jennifer Hernandez, Holland & Knight; Andy Agle, Housing and Economic Development, City of Santa Monica; Sarah Letts, Hollywood Community Housing Corporation; Richard Green, USC Lusk Center for Real Estate; Michael Lens, UCLA Luskin School of Public Affairs; Nela Richardson, Redfin; David Min, UC Irvine; Liam Dillon, Los Angeles Times; Richard Lyon, California Building Industry Association; Hasan Ikhrata, Southern California Association of Governments; Nicholas Marantz, UC Irvine; Ann Sewill, California Community Foundation; and Joel Singer, C.A.R.

The summit takes place 8:30 a.m. – 1:30 p.m. PST at the Intercontinental Hotel in Century City, Calif. Journalists who would like to attend the event, please email lotusl (at) car (dot) org or call (213) 739-8304. For more information, visit: http://centerforcaliforniarealestate.org/events/summit.html
About the CALIFORNIA ASSOCIATION OF REALTORS:

Leading the way® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with more than 185,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles