Dear Friends,

Will you urge your Assemblymember to vote YES on AB 1406 – and help give more California families a pathway to homeownership?

California YIMBY is hard at work on our 2026 legislative agenda, and the first deadlines are coming up this week.

We're sponsoring AB 1406, a bill from Assemblymember Chris Ward to give more Californians a pathway to affordable homeownership. This is a "two-year bill," meaning it was introduced last year but is still alive for 2026.

Two-year bills still in their house of origin have to pass a floor vote by January 31. We need your help today to get AB 1406 out of the Assembly by the deadline.

California needs to be building more housing of all types, from dense apartments to affordable homeownership opportunities. We've made some progress on building rental homes, but new homes for California families to buy are still hard to find.

In dense urban areas where land is scarce, condominiums usually offer the only viable path to first-time homeownership.

However, condo production faces significant financing challenges in California. AB 1406 will help address this, making construction more feasible and adding to the supply of lower-cost homes.

Will you help us make progress on condo reform this year? Email your Assemblymember today, and ask them to vote YES on AB 1406!

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AB 1406 will give more Californians a pathway to affordable homeownership by raising current limits on homebuyer deposits in new housing developments. The bill helps builders lower their construction and financing costs by reducing risk to lenders and investors, ultimately leading to lower-cost homes for Californians and more condo supply.

Current California law limits the portion of a buyer's deposit that developers can retain if the buyer defaults to 3% of the purchase price. Lenders view this as a higher financial risk, and raise their interest rates for construction loans accordingly.

AB 1406 raises that limit to 6%. That helps a builder demonstrate buyer commitment to lenders, providing the lender with confidence to offer lower-cost financing – and get more homes built for Californians to buy.

Opponents are mobilizing to try and stop AB 1406. Your voice can make a real difference. Will you take your first action of the year and send your Assemblymember an email in support of AB 1406?

Gratefully,

Emily

Emily Jones
Campaign and Coordination Manager
California YIMBY

California YIMBY is a movement dedicated to ending our state’s housing crisis and building a more inclusive, affordable, and accessible state for ALL Californians. If you were forwarded this email, you can join our movement here. DONATE NOW » Want to keep track of housing issues and the YIMBY movement? Sign up for the HomeWork, our newsletter here.

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