ADVERTISING SUPPLEMENTInsight Study ShowsHousing Shortage, Affordability CrisisRealtors Urge Swift Passage of Housing BillChild Care CostsLimit Ability toBuy a HomeRealtors statewide joined other civic organizations and law-makers on Jan. 7 to endorse passage of State Senate Bill 50,which would foster construction of apartment buildings andaffordable housing near job and transit centers.The California Association of Realtors joined the bill's authors, Sen. ScottWiener, D-San Francisco, and Sen. Nancy Skinner, D-Berkeley, along withOakland Mayor Libby Schaff, and housing advocates on the steps of Oak-Land City Hall to announce the amended SB 50.Lawmakers have until Jan. 31 to pass bills introduced in 2019.Other groups that attended the press conference in support of SB 50 wereCaliformia YIMBY and the Nonprofit Housing Association of NorthernCaliformia."If we're truly serious about increasing the supply of housing, SB 50 mustbe passed," said Jeanne Radsick, C.A.R. president. A recent study foundthat SB 50's reforms could increase housing by 400 percent and increaseaffordable housing by 500 percent."Californians desperately need housing, and the time to act is now," Rad-sick said. "Bold and focused leadership is required to solve California's hous-ing and affordability crisis, and 2020 can be the year we advance meaningfulsolutions that will result in a brighter housing future for all of us."The bill would eliminate low-density housing near jobs and transitwhile also reducing or eliminating minimum parking requirements for newdevelopments.California has a 3.5 million home deficit, equal to the housing deficit ofthe other 49 states combined. California ranks 49 out of 50 states in homesper capita. Since the early 1960s, Califormia population has almost tripled,while its housing production has declined by about 75 percent.Southiand Regonal Assooaton of ReaitorsBy Nany Trovell Camrahan. President, and David werSOUTHLAND REGIONALAssocIA ION OF REALTORS', INC.When it comes to buying ahome, the negative impact ofoutstanding student loans hasreceived all the attention, yet anew report suggests there's an-other even more potent limiterfor families with children - thecost of child care.Voice of Real Estate20201920Specifically, theresearch reportedin Freddie Macsrecent Insightissuc found that,aljusted forinflation, the realprice of child carehas increasedby 49 percentover the last 25years while thecost of housingnationwidehighest in the Northeast and West Coast.Califormia ranked number one of allstates having the least-affordable, center-based infant care at an annual cost of$16,542. That gobbled up 18.6 percent forcouple earning the state's median incomeof $88,730, according to Child CareAware of America.* Among those paying for care, theaverage chikld care expenditure for familieswith chiklren under 3 years old represent-ed 10.5 percent of their average incomein 2011.Child care costs are more of a burdenfor lower income families than higherincome families. For exampke, familiesmaking less than$1,500 a month who While otherbudget items suchas student loanshave received a lot ofhave chide under Freddie MacNancy Trovell Carnahan,the age of 15 spendSRAR 2020 Presidenthas only increased by 14 percent inreal tems from 1993 to 2018.This has left prospective home-buyers with less money to buy orrent a home."The list of expenses for a fam-ily can be never-endling, and ...the cost of everyday life presentschallenges for many looking to buyor rent," said Sam Khater, FreddieMac's ChiefEconomist.Monthly ExpendituresBurden (share of income)Thank You!100th InstallationSponsors100TH ANNUALIncome Quartile% Change1990201119902011INAUGURAL BALLO to 25% income quartie$348$35933%174%16.5%CLEATING THE INSTAILATIIN OFCRMLS25% to 70% inoome quartles$386$44910.2%8.5%10.0%Proident NancyTroxell Carnaha75% to 100% income quartile$541S808494%53%7.8%Finance of AmericaEntire sample$386$53930.5%9.3%10.7%Carlson Law GroupSUPRAPercent of income spent on child care for children under 15 by income group (2011)"Our analysisfinds thatthose familiespuying for childcare gener-ally are leftwith less moneyfor housingSpecifically,we find they,AND THE 200 0ICERS &DIRECIORSOn average, low-income tamilies with young children spend a large share of their income on child care.EscrowTechnologiesSATURDAY. JANUARY 18. 2020BrokerinTrustGRAND B ROO35Spile, Leff &Goor, LLP30SUGASTDALIL25CRES Insurance20DashCMA15To purchane tichets orto beaspoor mal Karenton average,pay about halfof the medianmortgage pay-ment and nearly80 percent ofthe median."Highlights from the study include: Families spend, on average, $715a month on child care, with this figurerising to $758 when the main parent withchikl care responsibilities-the motherin most cases-is employed. For familieswith younger children, the cost is steeperat $948.10Videos Help Avoid Common R.E. PitfallsLess than $1.500$3.000 to $4,499PRO STANDARDS Mistakes happen! Yet why not avoid con-ETHICS DEOSHONESTYINTEGRITYRESPECT HERE$1.500 to $2.099$4.500 and overAverage monthly family incomeflict by learning where others went wrong?Brief 1- to 2-minute videos on multiplecommon real estate pitfalls are availableon average 0 percent of their income onchild care, whereas families making over$4,500 a month spend approximately 6.7percent of their income on chikd care.The child care burden varies consid-erably by state. For families using center-based and family day care, the burdenranged from 7.9 percent in Mississippi to19.3 percent in Washington, DC, and wasattention for their unprecedented levelof growth, the budget of a family withchikdren is largely consumed by child care.Student koan payments only amount tohalf of the overall cost of chikd care.The Southiand Regional Association of Reaitorsis a local trade association with more than10,300 members serving the San Fermandoand Santa Clarita Valeys. SRAR is one of thelargest local associations in the nation.at www.srar.com.CLICKVideos are available in English, Spanish|and Chinese.THE VOICE OF REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYSwww.SRAR.com | Real Estate Questions? E-mail Nancy Troxell Carnahan, SRAR 2020 President, c/o DavidW@SRAR.comREALTORS is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS8 and subscribes to its strict Code of Ethics.EALTORPercent of monthy income spent on child care ADVERTISING SUPPLEMENT Insight Study Shows Housing Shortage, Affordability Crisis Realtors Urge Swift Passage of Housing Bill Child Care Costs Limit Ability to Buy a Home Realtors statewide joined other civic organizations and law- makers on Jan. 7 to endorse passage of State Senate Bill 50, which would foster construction of apartment buildings and affordable housing near job and transit centers. The California Association of Realtors joined the bill's authors, Sen. Scott Wiener, D-San Francisco, and Sen. Nancy Skinner, D-Berkeley, along with Oakland Mayor Libby Schaff, and housing advocates on the steps of Oak- Land City Hall to announce the amended SB 50. Lawmakers have until Jan. 31 to pass bills introduced in 2019. Other groups that attended the press conference in support of SB 50 were Califormia YIMBY and the Nonprofit Housing Association of Northern Califormia. "If we're truly serious about increasing the supply of housing, SB 50 must be passed," said Jeanne Radsick, C.A.R. president. A recent study found that SB 50's reforms could increase housing by 400 percent and increase affordable housing by 500 percent. "Californians desperately need housing, and the time to act is now," Rad- sick said. "Bold and focused leadership is required to solve California's hous- ing and affordability crisis, and 2020 can be the year we advance meaningful solutions that will result in a brighter housing future for all of us." The bill would eliminate low-density housing near jobs and transit while also reducing or eliminating minimum parking requirements for new developments. California has a 3.5 million home deficit, equal to the housing deficit of the other 49 states combined. California ranks 49 out of 50 states in homes per capita. Since the early 1960s, Califormia population has almost tripled, while its housing production has declined by about 75 percent. Southiand Regonal Assooaton of Reaitors By Nany Trovell Camrahan. President, and David wer SOUTHLAND REGIONAL AssocIA ION OF REALTORS', INC. When it comes to buying a home, the negative impact of outstanding student loans has received all the attention, yet a new report suggests there's an- other even more potent limiter for families with children - the cost of child care. Voice of Real Estate 2020 1920 Specifically, the research reported in Freddie Macs recent Insight issuc found that, aljusted for inflation, the real price of child care has increased by 49 percent over the last 25 years while the cost of housing nationwide highest in the Northeast and West Coast. Califormia ranked number one of all states having the least-affordable, center- based infant care at an annual cost of $16,542. That gobbled up 18.6 percent for couple earning the state's median income of $88,730, according to Child Care Aware of America. * Among those paying for care, the average chikld care expenditure for families with chiklren under 3 years old represent- ed 10.5 percent of their average income in 2011. Child care costs are more of a burden for lower income families than higher income families. For exampke, families making less than $1,500 a month who  While other budget items such as student loans have received a lot of have chide under Freddie Mac Nancy Trovell Carnahan, the age of 15 spend SRAR 2020 President has only increased by 14 percent in real tems from 1993 to 2018. This has left prospective home- buyers with less money to buy or rent a home. "The list of expenses for a fam- ily can be never-endling, and ... the cost of everyday life presents challenges for many looking to buy or rent," said Sam Khater, Freddie Mac's Chief Economist. Monthly Expenditures Burden (share of income) Thank You! 100th Installation Sponsors 100TH ANNUAL Income Quartile % Change 1990 2011 1990 2011 INAUGURAL BALL O to 25% income quartie $348 $359 33% 174% 16.5% CLEATING THE INSTAILATIIN OF CRMLS 25% to 70% inoome quartles $386 $449 10.2% 8.5% 10.0% Proident Nancy Troxell Carnaha 75% to 100% income quartile $541 S808 494% 53% 7.8% Finance of America Entire sample $386 $539 30.5% 9.3% 10.7% Carlson Law Group SUPRA Percent of income spent on child care for children under 15 by income group (2011) "Our analysis finds that those families puying for child care gener- ally are left with less money for housing Specifically, we find they, AND THE 200 0ICERS &DIRECIORS On average, low-income tamilies with young children spend a large share of their income on child care. Escrow Technologies SATURDAY. JANUARY 18. 2020 BrokerinTrust GRAND B ROO 35 Spile, Leff & Goor, LLP 30 SUGASTDALIL 25 CRES Insurance 20 DashCMA 15 To purchane tichets orto be aspoor mal Karent on average, pay about half of the median mortgage pay- ment and nearly 80 percent of the median ." Highlights from the study include:  Families spend, on average, $715 a month on child care, with this figure rising to $758 when the main parent with chikl care responsibilities-the mother in most cases-is employed. For families with younger children, the cost is steeper at $948. 10 Videos Help Avoid Common R.E. Pitfalls Less than $1.500 $3.000 to $4,499 PRO STANDARDS Mistakes happen! Yet why not avoid con- ETHICS DEOS HONESTY INTEGRITY RESPECT HERE $1.500 to $2.099 $4.500 and over Average monthly family income flict by learning where others went wrong? Brief 1- to 2-minute videos on multiple common real estate pitfalls are available on average 0 percent of their income on child care, whereas families making over $4,500 a month spend approximately 6.7 percent of their income on chikd care. The child care burden varies consid- erably by state. For families using center- based and family day care, the burden ranged from 7.9 percent in Mississippi to 19.3 percent in Washington, DC, and was attention for their unprecedented level of growth, the budget of a family with chikdren is largely consumed by child care. Student koan payments only amount to half of the overall cost of chikd care. The Southiand Regional Association of Reaitors is a local trade association with more than 10,300 members serving the San Fermando and Santa Clarita Valeys. SRAR is one of the largest local associations in the nation. at www.srar.com. CLICK Videos are available in English, Spanish |and Chinese. THE VOICE OF REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYS www.SRAR.com | Real Estate Questions? E-mail Nancy Troxell Carnahan, SRAR 2020 President, c/o DavidW@SRAR.com REALTORS is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS8 and subscribes to its strict Code of Ethics. EALTOR Percent of monthy income spent on child care

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ADVERTISING SUPPLEMENT Insight Study Shows Housing Shortage, Affordability Crisis Realtors Urge Swift Passage of Housing Bill Child Care Costs Limit Ability to Buy a Home Realtors statewide joined other civic organizations and law- makers on Jan. 7 to endorse passage of State Senate Bill 50, which would foster construction of apartment buildings and affordable housing near job and transit centers. The California Association of Realtors joined the bill's authors, Sen. Scott Wiener, D-San Francisco, and Sen. Nancy Skinner, D-Berkeley, along with Oakland Mayor Libby Schaff, and housing advocates on the steps of Oak- Land City Hall to announce the amended SB 50. Lawmakers have until Jan. 31 to pass bills introduced in 2019. Other groups that attended the press conference in support of SB 50 were Califormia YIMBY and the Nonprofit Housing Association of Northern Califormia. "If we're truly serious about increasing the supply of housing, SB 50 must be passed," said Jeanne Radsick, C.A.R. president. A recent study found that SB 50's reforms could increase housing by 400 percent and increase affordable housing by 500 percent. "Californians desperately need housing, and the time to act is now," Rad- sick said. "Bold and focused leadership is required to solve California's hous- ing and affordability crisis, and 2020 can be the year we advance meaningful solutions that will result in a brighter housing future for all of us." The bill would eliminate low-density housing near jobs and transit while also reducing or eliminating minimum parking requirements for new developments. California has a 3.5 million home deficit, equal to the housing deficit of the other 49 states combined. California ranks 49 out of 50 states in homes per capita. Since the early 1960s, Califormia population has almost tripled, while its housing production has declined by about 75 percent. Southiand Regonal Assooaton of Reaitors By Nany Trovell Camrahan. President, and David wer SOUTHLAND REGIONAL AssocIA ION OF REALTORS', INC. When it comes to buying a home, the negative impact of outstanding student loans has received all the attention, yet a new report suggests there's an- other even more potent limiter for families with children - the cost of child care. Voice of Real Estate 2020 1920 Specifically, the research reported in Freddie Macs recent Insight issuc found that, aljusted for inflation, the real price of child care has increased by 49 percent over the last 25 years while the cost of housing nationwide highest in the Northeast and West Coast. Califormia ranked number one of all states having the least-affordable, center- based infant care at an annual cost of $16,542. That gobbled up 18.6 percent for couple earning the state's median income of $88,730, according to Child Care Aware of America. * Among those paying for care, the average chikld care expenditure for families with chiklren under 3 years old represent- ed 10.5 percent of their average income in 2011. Child care costs are more of a burden for lower income families than higher income families. For exampke, families making less than $1,500 a month who While other budget items such as student loans have received a lot of have chide under Freddie Mac Nancy Trovell Carnahan, the age of 15 spend SRAR 2020 President has only increased by 14 percent in real tems from 1993 to 2018. This has left prospective home- buyers with less money to buy or rent a home. "The list of expenses for a fam- ily can be never-endling, and ... the cost of everyday life presents challenges for many looking to buy or rent," said Sam Khater, Freddie Mac's Chief Economist. Monthly Expenditures Burden (share of income) Thank You! 100th Installation Sponsors 100TH ANNUAL Income Quartile % Change 1990 2011 1990 2011 INAUGURAL BALL O to 25% income quartie $348 $359 33% 174% 16.5% CLEATING THE INSTAILATIIN OF CRMLS 25% to 70% inoome quartles $386 $449 10.2% 8.5% 10.0% Proident Nancy Troxell Carnaha 75% to 100% income quartile $541 S808 494% 53% 7.8% Finance of America Entire sample $386 $539 30.5% 9.3% 10.7% Carlson Law Group SUPRA Percent of income spent on child care for children under 15 by income group (2011) "Our analysis finds that those families puying for child care gener- ally are left with less money for housing Specifically, we find they, AND THE 200 0ICERS &DIRECIORS On average, low-income tamilies with young children spend a large share of their income on child care. Escrow Technologies SATURDAY. JANUARY 18. 2020 BrokerinTrust GRAND B ROO 35 Spile, Leff & Goor, LLP 30 SUGASTDALIL 25 CRES Insurance 20 DashCMA 15 To purchane tichets orto be aspoor mal Karent on average, pay about half of the median mortgage pay- ment and nearly 80 percent of the median ." Highlights from the study include: Families spend, on average, $715 a month on child care, with this figure rising to $758 when the main parent with chikl care responsibilities-the mother in most cases-is employed. For families with younger children, the cost is steeper at $948. 10 Videos Help Avoid Common R.E. Pitfalls Less than $1.500 $3.000 to $4,499 PRO STANDARDS Mistakes happen! Yet why not avoid con- ETHICS DEOS HONESTY INTEGRITY RESPECT HERE $1.500 to $2.099 $4.500 and over Average monthly family income flict by learning where others went wrong? Brief 1- to 2-minute videos on multiple common real estate pitfalls are available on average 0 percent of their income on child care, whereas families making over $4,500 a month spend approximately 6.7 percent of their income on chikd care. The child care burden varies consid- erably by state. For families using center- based and family day care, the burden ranged from 7.9 percent in Mississippi to 19.3 percent in Washington, DC, and was attention for their unprecedented level of growth, the budget of a family with chikdren is largely consumed by child care. Student koan payments only amount to half of the overall cost of chikd care. The Southiand Regional Association of Reaitors is a local trade association with more than 10,300 members serving the San Fermando and Santa Clarita Valeys. SRAR is one of the largest local associations in the nation. at www.srar.com. CLICK Videos are available in English, Spanish |and Chinese. THE VOICE OF REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYS www.SRAR.com | Real Estate Questions? E-mail Nancy Troxell Carnahan, SRAR 2020 President, c/o DavidW@SRAR.com REALTORS is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS8 and subscribes to its strict Code of Ethics. EALTOR Percent of monthy income spent on child care ADVERTISING SUPPLEMENT Insight Study Shows Housing Shortage, Affordability Crisis Realtors Urge Swift Passage of Housing Bill Child Care Costs Limit Ability to Buy a Home Realtors statewide joined other civic organizations and law- makers on Jan. 7 to endorse passage of State Senate Bill 50, which would foster construction of apartment buildings and affordable housing near job and transit centers. The California Association of Realtors joined the bill's authors, Sen. Scott Wiener, D-San Francisco, and Sen. Nancy Skinner, D-Berkeley, along with Oakland Mayor Libby Schaff, and housing advocates on the steps of Oak- Land City Hall to announce the amended SB 50. Lawmakers have until Jan. 31 to pass bills introduced in 2019. Other groups that attended the press conference in support of SB 50 were Califormia YIMBY and the Nonprofit Housing Association of Northern Califormia. "If we're truly serious about increasing the supply of housing, SB 50 must be passed," said Jeanne Radsick, C.A.R. president. A recent study found that SB 50's reforms could increase housing by 400 percent and increase affordable housing by 500 percent. "Californians desperately need housing, and the time to act is now," Rad- sick said. "Bold and focused leadership is required to solve California's hous- ing and affordability crisis, and 2020 can be the year we advance meaningful solutions that will result in a brighter housing future for all of us." The bill would eliminate low-density housing near jobs and transit while also reducing or eliminating minimum parking requirements for new developments. California has a 3.5 million home deficit, equal to the housing deficit of the other 49 states combined. California ranks 49 out of 50 states in homes per capita. Since the early 1960s, Califormia population has almost tripled, while its housing production has declined by about 75 percent. Southiand Regonal Assooaton of Reaitors By Nany Trovell Camrahan. President, and David wer SOUTHLAND REGIONAL AssocIA ION OF REALTORS', INC. When it comes to buying a home, the negative impact of outstanding student loans has received all the attention, yet a new report suggests there's an- other even more potent limiter for families with children - the cost of child care. Voice of Real Estate 2020 1920 Specifically, the research reported in Freddie Macs recent Insight issuc found that, aljusted for inflation, the real price of child care has increased by 49 percent over the last 25 years while the cost of housing nationwide highest in the Northeast and West Coast. Califormia ranked number one of all states having the least-affordable, center- based infant care at an annual cost of $16,542. That gobbled up 18.6 percent for couple earning the state's median income of $88,730, according to Child Care Aware of America. * Among those paying for care, the average chikld care expenditure for families with chiklren under 3 years old represent- ed 10.5 percent of their average income in 2011. Child care costs are more of a burden for lower income families than higher income families. For exampke, families making less than $1,500 a month who While other budget items such as student loans have received a lot of have chide under Freddie Mac Nancy Trovell Carnahan, the age of 15 spend SRAR 2020 President has only increased by 14 percent in real tems from 1993 to 2018. This has left prospective home- buyers with less money to buy or rent a home. "The list of expenses for a fam- ily can be never-endling, and ... the cost of everyday life presents challenges for many looking to buy or rent," said Sam Khater, Freddie Mac's Chief Economist. Monthly Expenditures Burden (share of income) Thank You! 100th Installation Sponsors 100TH ANNUAL Income Quartile % Change 1990 2011 1990 2011 INAUGURAL BALL O to 25% income quartie $348 $359 33% 174% 16.5% CLEATING THE INSTAILATIIN OF CRMLS 25% to 70% inoome quartles $386 $449 10.2% 8.5% 10.0% Proident Nancy Troxell Carnaha 75% to 100% income quartile $541 S808 494% 53% 7.8% Finance of America Entire sample $386 $539 30.5% 9.3% 10.7% Carlson Law Group SUPRA Percent of income spent on child care for children under 15 by income group (2011) "Our analysis finds that those families puying for child care gener- ally are left with less money for housing Specifically, we find they, AND THE 200 0ICERS &DIRECIORS On average, low-income tamilies with young children spend a large share of their income on child care. Escrow Technologies SATURDAY. JANUARY 18. 2020 BrokerinTrust GRAND B ROO 35 Spile, Leff & Goor, LLP 30 SUGASTDALIL 25 CRES Insurance 20 DashCMA 15 To purchane tichets orto be aspoor mal Karent on average, pay about half of the median mortgage pay- ment and nearly 80 percent of the median ." Highlights from the study include: Families spend, on average, $715 a month on child care, with this figure rising to $758 when the main parent with chikl care responsibilities-the mother in most cases-is employed. For families with younger children, the cost is steeper at $948. 10 Videos Help Avoid Common R.E. Pitfalls Less than $1.500 $3.000 to $4,499 PRO STANDARDS Mistakes happen! Yet why not avoid con- ETHICS DEOS HONESTY INTEGRITY RESPECT HERE $1.500 to $2.099 $4.500 and over Average monthly family income flict by learning where others went wrong? Brief 1- to 2-minute videos on multiple common real estate pitfalls are available on average 0 percent of their income on child care, whereas families making over $4,500 a month spend approximately 6.7 percent of their income on chikd care. The child care burden varies consid- erably by state. For families using center- based and family day care, the burden ranged from 7.9 percent in Mississippi to 19.3 percent in Washington, DC, and was attention for their unprecedented level of growth, the budget of a family with chikdren is largely consumed by child care. Student koan payments only amount to half of the overall cost of chikd care. The Southiand Regional Association of Reaitors is a local trade association with more than 10,300 members serving the San Fermando and Santa Clarita Valeys. SRAR is one of the largest local associations in the nation. at www.srar.com. CLICK Videos are available in English, Spanish |and Chinese. THE VOICE OF REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYS www.SRAR.com | Real Estate Questions? E-mail Nancy Troxell Carnahan, SRAR 2020 President, c/o DavidW@SRAR.com REALTORS is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS8 and subscribes to its strict Code of Ethics. EALTOR Percent of monthy income spent on child care

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