Where is California's Housing Money?

California has 14 of the nation's 25 least affordable housing markets. According to a report by the State Department of Housing and Community Development, twenty-five agencies spent every penny of housing money on administration. Someagencies spend it on needlessly expensive projects while otherswon't even spend the money. Another study found that of the 72 agencies in Los Angeles County, only 10 had more homes in 1997 than they did 11 years earlier. ensure that money is spent wisely, Critics say that little is being done to ensure that money is beingspent wisely.

Thanks to Abhijeet Chavan