California measure could spur more seniors to sell homes, easing the state’s housing crunch

A proposed ballot initiative in California could encourage older homeowners with larger homes to downsize and move to other counties, freeing homes for younger families and potentially easing the state’s chronic housing shortage. The real estate industry is leading the charge to qualify the measure for the Nov. 6 election ballot and has already raised about $6.7 million for the effort. Monday is the deadline for proponents of the measure to turn in signatures to qualify the measure for the November ballot.

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Source: CNBC