A Silicon Valley senator is proposing to insure multifamily development loans. Could it help spur more construction?

With California short of nearly half a million affordable homes and a slew of projects stalled amid adverse market conditions, Sen. Dave Cortese has proposed a bill that would allow the state to use its credit to insure construction and permanent loans for multifamily housing, giving developers access to more favorable interest terms and letting them build more quickly and easily.

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