Preliminary results from the AP on the morning of November 4, 2026. Not certified yet. Some measures have not been officially called, so I say "leading" or "trailing" where that's the case.

California voted on 14 propositions yesterday. My phone has been buzzing all morning with the same question: "Ken, does this make it easier to buy a house?"

Short answer: a little easier. Not right away. And it does not mean prices are about to drop. Here is what passed, what didn't, and what it means if you're buying or selling in San Jose and the South Bay.

Prop 37 passed: 3% down on a newly built home

This is the big one for buyers. Prop 37 sets up a state loan program, funded with up to $25 billion in revenue bonds, for middle-income buyers of newly built homes. You put down as little as 3%, and the state lends you up to another 17% so you reach 20% down.

Simple example on a $1,000,000 new home:

• Before: you needed about $200,000 of your own money for 20% down.
• With Prop 37: about $30,000 from you, plus about $170,000 borrowed from the state.

Three things people miss:

1. It is a loan, not a gift. You pay it back monthly, on top of your mortgage, property tax and insurance. The final rate and terms will be set by CalHFA.
2. New construction only. Resale homes don't qualify. Income and price limits depend on the county.
3. Not open yet. The state has up to a year to launch it. You don't have to be a first-time buyer.

Prop 1 passed: $11.25 billion for housing

About $10 billion goes to affordable housing programs and about $1.25 billion to CalVet home loans for veterans. More homes over time helps keep prices from running away, but you won't feel it for a few years.

Prop 42 leading: no new state taxes on personal property

If it holds, Sacramento can't put new state taxes on owning personal property, and certain retroactive taxes are blocked. Investors and owners get more certainty.

Prop 45 trailing: faster environmental review for building

Prop 45 would have put deadlines on CEQA review and lawsuits for "essential" projects like housing. It's losing. My take after 23 years: this is the result that matters most for prices. Down payment help gets people into homes. But prices come down to how many homes get built. If building stays slow, Bay Area supply stays tight.

Also trailing: Prop 40 and Prop 43

• Prop 40, a one-time 5% tax on wealth over $1 billion, is losing. It would not have touched regular buyers and sellers.
• Prop 43 would have required a two-thirds vote for local special taxes put on the ballot by voter petition. It's losing, so those can still pass with a simple majority. When you buy, look closely at the extra assessments on the tax bill.

What I'd do right now

If you're thinking about a new-construction home in the next 12 to 18 months, start getting your income, credit and savings in order now so you're ready when Prop 37 opens. Run your numbers with the affordability calculator and the mortgage calculator, and check the down payment programs that already exist today.

Questions about how this affects your home? Reach out to Ken.

For information only. Not legal or tax advice. Ask a CPA or attorney about your situation.

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Tóm tắt tiếng Việt: Bầu xong rồi, nhà đất thay đổi gì?

Hôm qua California bầu 14 luật. Nhiều anh chị nhắn hỏi Ken: "Giờ mua nhà dễ hơn không?" Câu trả lời ngắn: dễ hơn một chút. Nhưng chưa phải liền đâu.

• Prop 37 – thắng. Mua nhà mới xây, chỉ cần đưa trước 3%. Tiểu bang cho mượn thêm 17% cho đủ 20% down. Nhà $1 triệu: trước cần $200K, giờ chỉ cần khoảng $30K. Nhưng nhớ: đó là tiền mượn, trả hàng tháng. Khoảng 1 năm nữa mới mở. Không cần mua nhà lần đầu.
• Prop 1 – thắng. $11.25 tỷ xây nhà giá vừa phải và giúp cựu chiến binh vay mua nhà.
• Prop 42 – đang dẫn. Tiểu bang không được đặt thuế mới lên tài sản cá nhân.
• Prop 45 – đang thua. Luật muốn rút ngắn thủ tục môi trường để xây nhà nhanh hơn. Không qua thì nhà mới ra chậm, giá khó hạ. Với Ken, đây là tin buồn nhất.
• Prop 40 (thuế tỷ phú) và Prop 43 (đòi 2/3 phiếu cho thuế địa phương) – đang thua.

Nói gọn: mua nhà dễ hơn một chút. Xây nhà vẫn chậm như cũ. Giá Bay Area chưa giảm sớm đâu.

Anh chị muốn biết luật mới ảnh hưởng tới mình ra sao? Liên lạc Ken – nói tiếng Việt.

Kết quả sơ bộ theo AP sáng 4/11/2026, chưa chứng nhận chính thức. Thông tin tham khảo, không phải tư vấn pháp lý hay thuế.