Serving Bread

What is it: This bond initiative will give the state about $3 billion in upstart money to invest in low-income housing, emergency shelters, and the like. It also provides money for downpayment assistance in certain cases.

What the Pro people are saying: Housing prices and rent rates close the door on a lot of people. Through this measure, we have an opportunity to make a difference in the lives of people who otherwise could not afford housing. We are also in need of emergency shelters for battered women and their children (last year over 5000 women and children were turned away from shelters because of the lack of space)

What the Con people are saying: This is just more money on a bureaucracy trying to make a difference, but will not really make that much of a difference. With 36 million people living in California, this will not make a dent in the well-being of people in the state. By the time this bond is repaid, it will cost each Californian $600.

Bottom Line: Who would not want to give people more affordable housing? But when the costs will eventually outweigh the benefits, the choice is clearly not as simple. Economically speaking, would further debt be a viable solution to our housing issues?