Billionaire Candidate Tom Steyer Criticizes California Cities for Housing Resistance
During a recent gubernatorial debate, Tom Steyer, a billionaire and Democratic candidate for California governor, highlighted the state's housing crisis as a major issue. Steyer argued that local resistance to new housing developments is a significant barrier to addressing the affordability crisis in California. He proposed closing corporate tax loopholes to generate revenue for municipalities to support new housing. Steyer's comments came amid a debate with other candidates, including San Jose Mayor Matt Mahan and former Los Angeles Mayor Antonio Villaraigosa, who also discussed their records and plans for housing. The debate underscored the ongoing challenges California faces in meeting its housing needs, with the state needing to build between 180,000 and 315,000 new homes annually to keep up with demand.