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Supporting Prop 5 to increase funding for affordable housing in California


Airbnb received its begin throughout the Nice Recession as a approach to assist our founders pay their lease in San Francisco. At the moment, Airbnb has grow to be an financial lifeline for therefore many individuals across the globe. In truth, 55 p.c of Airbnb hosts in California say the earnings they earn from internet hosting helps them afford to remain of their houses.1

To assist guarantee extra folks can profit from financial alternatives of homeownership and residential sharing, we proceed to associate with governments to assist deal with housing challenges. Many consultants and economists agree that the basis reason behind the reasonably priced housing disaster is a power scarcity of housing provide to satisfy demand, and we help the work of governments and organizations which might be championing smart, long-term options to assist communities improve their provide of reasonably priced housing. 

That’s why Airbnb is proud to help Proposition 5, a poll measure that may go earlier than California voters on November 5. We now have lengthy been a key supporter of this situation, making a $3 million donation to the San Francisco Basis to help earlier efforts in California that made it simpler for native communities to approve reasonably priced housing bond measures.

Prop 5 will empower California communities to construct extra reasonably priced housing and infrastructure by: 

  • Making it simpler for communities to fund reasonably priced housing and infrastructure tasks by decreasing the voter threshold for native bond measures to 55 p.c. 
  • Mandating strict, new accountability mechanisms to make sure the accountable use of bond funds.
  • Increasing bond makes use of to help neighborhood wants, like housing companies for residents. 

This initiative would assist California communities deal with housing shortages which might be driving up the price of residing for residents, together with Airbnb hosts who dwell in a whole lot of cities and counties throughout the state. To that finish, we’re encouraging Airbnb hosts in California to affix us in supporting this transformational reasonably priced housing measure. 

“Airbnb is proud to help Proposition 5 as a part of our ongoing dedication to assist communities deal with the housing disaster head-on. By making it simpler to fund reasonably priced housing options by way of bonds, we’re advocating for a future the place entry to safe, reasonably priced housing is a actuality for extra Californians.”
—Theo Yedinsky, VP, Public Coverage, Airbnb

“Californians really feel the pressure of our housing disaster daily, and Prop 5 gives a crucial pathway to extend funding for reasonably priced housing throughout the state. I applaud Airbnb’s dedication to serving to us deal with our housing affordability challenges and create lasting options for Californians.”
—Scott Wiener, California State Senator

  “We’re grateful Airbnb has joined our coalition of Sure on Prop 5 endorsers and supporters. Their early contribution is an illustration of their robust help for Prop 5’s proposal to provide native voters extra energy to handle the reasonably priced housing and public infrastructure wants of their communities.”
—Amie Fishman, Government Director, Non-Revenue Housing Affiliation of Northern California

Our help for Prop 5 is a part of our ongoing dedication to associate with governments and communities to handle housing challenges. Initially of this 12 months, we launched the Airbnb Housing Council, which brings collectively main unbiased housing organizations and consultants to advise Airbnb on insurance policies, partnerships, and initiatives we will help that assist spur housing provide.

Paid for by Airbnb, Inc.

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