Q&A with Douglas Shoemaker, Senior Advisor to the “Yes on Prop 1” Campaign
October 21, 2026
Californians will have a historic opportunity this November with Proposition 1, the Veterans and Affordable Housing Bond Act of 2026, by far the largest affordable housing bond in California history. It would authorize $10 billion in state general obligation bonds to fund production of affordable rental and ownership housing and housing support, along with $1.25 billion in mortgage revenue bonds to fund a homeownership program for veterans and military families. And all these benefits come without raising taxes.
We spoke with Douglas Shoemaker, senior advisor to the “Yes on Prop 1” Campaign, and a long-time advocate for affordable housing, including serving as an Affiliate at the Terner Center for Housing Innovation and as past president of Mercy Housing California (MHC). Read on for his perspective on what all Californians should know about this critical effort.
Q: Prop 1 authorizes $11.25 billion in bond funding to build and preserve affordable homes and expand homeownership opportunities across California, which is nearly three times the amount approved by voters in 2018. Why is this investment so important right now?
A: To start with, less than 1% of the state’s budget currently goes to housing, and with the substantial budget crunch we anticipate, there’s unlikely to be much appropriation activity for housing capital in the near future.
Because the 2018 bond funds have largely been spent, if we intend to continue to make progress against our housing goals as a state, this is our best opportunity to fund ongoing capital investment in affordable housing.
The demand is there, and so are the projects. Thanks to affordable housing champions like Buffy Wicks and Scott Wiener, there are nearly 40,000 shovel-ready affordable units in the pipeline, awaiting funds to begin construction.
Q: Looking back, what impact did the 2018 housing bond have across California, and how would Prop 1 build on that investment, particularly when it comes to affordable housing production for groups like veterans, students, farmworkers and people experiencing homelessness?
A: The most recent numbers we’ve received from California Department of Housing and Community Development (HCD) are really impressive: They show that the 2018 housing bond has benefited about 41,000 households, including 23,000 on the housing development and preservation side and another 18,000 on home ownership-related activities through Calvet and CalHFA.
These numbers compare favorably on a per-person assisted basis with what we expect from this bond, which is the development of about 40,000 new homes, many of which are already in the pipeline, and approximately 20,000 households assisted through home ownership programs. Prop 1 also provides $350 million, split between the University of California and California State University, for affordable student housing.
That represents at least 55 years’ worth of housing, meaning that when we build these units, they help more than one generation of renters. In many cases, such as with the development we see through organizations like Eden Housing and Mercy Housing, these homes are often kept for much longer than 55 years. Over the course of time, the California Housing Partnership (CHP) estimates that as many as half a million households will be assisted by these investments, as well as an estimated 40,0000 students.
Q: Much of the funding is targeted toward Californians with specific housing needs. For someone who may never directly benefit from these programs, what broader impacts would Prop 1 have on their community?
A: It’s important to consider the bigger picture of how housing instability affects us all. Even setting aside the social or moral perspective, there are financial impacts given how much cities and counties spend addressing homelessness, as well as broader effects on local businesses and tourism.
On the housing side, we see a positive impact when we add more affordable homes to a community, which can lower housing costs in the broader market even for people who aren’t the direct beneficiaries. California’s construction workforce also directly benefits from the building phase.
The effects on our communities are just as real. Having too many unhoused individuals creates an obvious impact. But we also know that many working families can’t find housing they can afford in the towns and cities where they work, leading to massive commutes or, in some cases, leaving California altogether.
In fact, California has experienced some of the largest out-migration in the county, and the high housing costs are one of the factors driving those decisions. When working and middle-class families can no longer afford to live in the communities they serve, it becomes harder to retain the people we rely on to educate our children, keep our cities safe and provide strong healthcare to our residents.
Housing affects literally every aspect of our lives in California, whether or not we benefit directly from a particular housing program.
Q: If there is one thing you want Californians to understand about Prop 1 before they vote, what would it be?
A: Our slogan is “Affordability with Accountability,” and our campaign is very focused on those two things together. We want to make sure we will create the outcomes we want, which first and foremost is an enormous amount of affordable housing, accompanied by some of the strictest accountability provisions in any bond provision. That assures voters there will be a transparent way to ensure these outcomes are being achieved.
And, we want to underscore that this won’t require raising taxes since Prop 1 leverages private and matching federal programs to maximize state funding. Prop 1 asks voters to authorize $11.25 billion in bonds, which includes a $10 billion GO bond for affordable housing and homeownership programs that would be repaid from the state’s General Fund, and a $1.25 billion veterans’ bond, a revenue bond, for the CalVet Home Loan program that would be repaid through mortgage payments, with the General Fund as a backstop. That’s why we have such a long and diverse list of endorsers, and to my knowledge, no paid opposition, which I think speaks to the popularity of the measure.
A California Voter Survey conducted this June found that nearly 80% of voters say it is extremely or moderately important that California increases the amount of affordable housing. They said the most important purposes for increased housing are affordable homes for working families (80% important), affordable homes for veterans (79% important), affordable homes for persons with disabilities (77% important), and affordable homes for seniors (76% important).
With this type of support, we are optimistic that voters will see the overwhelming benefits of a “yes” vote on Prop 1.