Bay Area Withdraws $20 Billion Affordable Housing Bond

Concerns over public support and legal challenges prompt delay until at least 2026.

The Bay Area Housing Finance Authority voted to remove the bond from the November ballot.
Polling showed support for the bond was marginal, hovering around 55%.
A pending lawsuit and concerns about Proposition 5 influenced the decision.
The bond aimed to fund subsidized housing, repaid through property taxes.
Some housing advocates are disappointed, fearing conditions may not improve.