Newsom’s revised goal for 2030 and his recent executive order to lower building code costs hint at a pivot toward more pragmatic solutions.

While states and localities currently rely on substantial federal funding for essential services (including infrastructure, education, public safety, and Medicaid), the impending withdrawal of pandemic fiscal aid and the potential for decreased federal support in the coming years necessitate a shift toward greater self-reliance.

A key way to justify the cost of these large projects is by minimizing the public financial burden and finding long-term investors whose motivations go beyond just making a buck.

To effectively tackle housing affordability, policymakers must prioritize increasing housing supply by removing restrictive regulations, thereby enabling the construction of homes that meet the needs of the population.