Low-Income Housing Tax Credit

April 10, 2024

Mercury News: Affordable housing falls victim to California’s insurance crisis

Nearly a year ago, State Farm stopped issuing new insurance policies for homes and businesses in California, accelerating a tsunami of major insurance company departures. At the time, the most obvious impacts of these withdrawals were on single-family homeowners. But the repercussions have extended much further. Without progress toward stabilizing the insurance industry in California, housing for lower-income renters is in urgent jeopardy as well. The consequences for nonprofits and other smaller landlords that provide affordable housing in the form…