California lawmakers consider spending billions to fix housingSAN FRANCISCO (Reuters) - Affordable housing advocates are closely watching a package of bills currently under consideration by California lawmakers that would invest billions of dollars in helping to alleviate the state’s severe housing crisis. For years, California residents have struggled to afford surging real estate and rental prices in many of the country’s most expensive housing markets. Nearly one-third of California renters pay more than 50 percent of their income toward rent. If passed, the bills would create a permanent $300 million-a-year fund for affordable housing, streamline the approval process for housing construction in cities and authorize a $3 billion bond for the 2018 ballot, the first housing bond in California for over a decade. The state’s Senate has approved the package, but the Assembly, which is expected to vote next week, has shown more reticence over costs. Lawmakers worked closely with Democratic Governor Jerry Brown, who in July announced his support for a general obligation bond, a permanent funding source for affordable housing and regulatory reform.  “This comprehensive approach does what’s long been needed in California,” Brown said in July. “Astronomical housing costs are straining family budgets and stressing employees who can’t afford to live where they work. That’s unacceptable.” On Thursday, California Treasurer John Chiang urged state lawmakers to quickly pass the package as well as to increase the general obligation bond to between $6 billion and $9 billion to kick-start construction. “We have the opportunity now to move decisively to ease a 1.5 million-unit shortfall in affordable housing. But we must think big and act boldly,” Chiang in a statement. Senate President Pro Tempore Kevin de León and Assembly Speaker Anthony Rendon have also expressed support for a housing deal. Homeownership rates in California are at their lowest since the 1940s and the lack of supply is seen as a major contributor to the problem. Production of new homes across the state averaged less than 80,000 annually over the last decade, far below the projected need of 180,000 additional homes annually, according to the California Department of Housing and Community Development. politicsNews
california lawmakers consider spending billions fix housingsan francisco reuters affordable housing advocates closely watching package bills currently consideration california lawmakers would invest billions dollars helping alleviate state severe housing crisis for years california residents struggled afford urging real estate rental prices many country expensive housing markets nearly california renters pay percent income toward rent if passed bills would create permanent fund affordable housing streamline approval process housing construction cities authorize billion bond ballot first housing bond california decade the state senate approved package assembly expected vote next week shown residence costs lawmakers worked closely democratic governor jerry brown july announced support general obligation bond permanent funding source affordable housing regulatory reform this comprehensive approach long needed california brown said july astronomical housing costs training family budgets stressing employees afford live work that on thursday california treasurer john chang urged state lawmakers quickly pass package well increase general obligation bond billion billion construction we opportunity move decisively ease shortfall affordable housing but must think big act boldly chang statement senate president pro tempore kevin de león assembly speaker anthony tendon also expressed support housing deal homeownership rates california lowest since lack supply seen major contributor problem production new homes across state averaged less annually last decade far projected need additional homes annually according california department housing community development politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: California lawmakers consider spending billions to fix housingSAN FRANCISCO (Reuters) - Affordable housing advocates are closely watching a package of bills currently under consideration by California lawmakers that would invest billions of dollars in helping to alleviate the state’s severe housing crisis. For years, California residents have struggled to afford surging real estate and rental prices in many of the country’s most expensive housing markets. Nearly one-third of California renters pay more than 50 percent of their income toward rent. If passed, the bills would create a permanent $300 million-a-year fund for affordable housing, streamline the approval process for housing construction in cities and authorize a $3 billion bond for the 2018 ballot, the first housing bond in California for over a decade. The state’s Senate has approved the package, but the Assembly, which is expected to vote next week, has shown more reticence over costs. Lawmakers worked closely with Democratic Governor Jerry Brown, who in July announced his support for a general obligation bond, a permanent funding source for affordable housing and regulatory reform.  “This comprehensive approach does what’s long been needed in California,” Brown said in July. “Astronomical housing costs are straining family budgets and stressing employees who can’t afford to live where they work. That’s unacceptable.” On Thursday, California Treasurer John Chiang urged state lawmakers to quickly pass the package as well as to increase the general obligation bond to between $6 billion and $9 billion to kick-start construction. “We have the opportunity now to move decisively to ease a 1.5 million-unit shortfall in affordable housing. But we must think big and act boldly,” Chiang in a statement. Senate President Pro Tempore Kevin de León and Assembly Speaker Anthony Rendon have also expressed support for a housing deal. Homeownership rates in California are at their lowest since the 1940s and the lack of supply is seen as a major contributor to the problem. Production of new homes across the state averaged less than 80,000 annually over the last decade, far below the projected need of 180,000 additional homes annually, according to the California Department of Housing and Community Development. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: california lawmakers consider spending billions fix housingsan francisco reuters affordable housing advocates closely watching package bills currently consideration california lawmakers would invest billions dollars helping alleviate state severe housing crisis for years california residents struggled afford urging real estate rental prices many country expensive housing markets nearly california renters pay percent income toward rent if passed bills would create permanent fund affordable housing streamline approval process housing construction cities authorize billion bond ballot first housing bond california decade the state senate approved package assembly expected vote next week shown residence costs lawmakers worked closely democratic governor jerry brown july announced support general obligation bond permanent funding source affordable housing regulatory reform this comprehensive approach long needed california brown said july astronomical housing costs training family budgets stressing employees afford live work that on thursday california treasurer john chang urged state lawmakers quickly pass package well increase general obligation bond billion billion construction we opportunity move decisively ease shortfall affordable housing but must think big act boldly chang statement senate president pro tempore kevin de león assembly speaker anthony tendon also expressed support housing deal homeownership rates california lowest since lack supply seen major contributor problem production new homes across state averaged less annually last decade far projected need additional homes annually according california department housing community development politicsnews