On Wednesday, August 27, the newly formed Select Committee on Housing Finance and Affordability convened its first hearing at the State Capitol. The committee is co-chaired by Assemblymember Avila Farias (D–East Bay) and Assemblymember Harabedian (D–Los Angeles), both of whom emphasized the urgency of addressing California’s housing crisis through innovative financing solutions.

What is a Select Committee?
Select committees are temporary legislative bodies created to focus on specific issues that require in-depth study and stakeholder engagement. Unlike standing committees, they do not vote on bills but instead serve as platforms for research, testimony, and policy development. Their work often informs future legislation and budget priorities.

Hearing Focus: “How Housing is Financed in California”
The inaugural session centered on understanding the complex mechanisms behind housing finance in the state. Experts from across the housing ecosystem—including policy analysts, public officials, academic researchers, and private-sector developers—shared insights on the challenges and opportunities in funding affordable housing projects.

The hearing room was filled with housing advocates from across California, creating what Co-Chair Avila Farias described as a “housing homecoming”—a gathering of some of the most knowledgeable voices in the field.

What’s Next?
This was the first in a series of hearings aimed at demystifying the financing process and identifying actionable solutions to improve housing affordability. Committee members will continue to engage with stakeholders and deepen their understanding of the financial tools and regulatory frameworks that shape California’s housing market.

At CCAH, we are encouraged by the committee’s commitment to tackling these issues head-on. We will remain actively involved in the process, ensuring that our perspective and the voices of our members are part of the conversation as policy recommendations take shape.