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Legislators propose a $1-billion-a-year down payment program for first-time buyers, given the high cost of housing and rising mortgage interest rates, in exchange for a partial stake.

Legislators propose a $1-billion-a-year down payment program for first-time buyers, given the high cost of housing and rising mortgage interest rates, in exchange for a partial stake.

Legislators propose a $1-billion-a-year down payment program for first-time buyers, given the high cost of housing and rising mortgage interest rates, in exchange for a partial stake.

First-time buyers often rely on family gifts to afford the down payments on their homes. Now California Legislators want the government to fill the role of generous relative.

California legislators propose a $1-billion-a-year down payment program for first-time buyers, given the high cost of housing and rising mortgage interest rates, in exchange for a partial stake.

California legislators propose a $1-billion-a-year down payment program for first-time buyers, given the high cost of housing and rising mortgage interest rates, in exchange for a partial stake.

Legislators propose a $1-billion-a-year down payment program for first-time buyers, given the high cost of housing and rising mortgage interest rates, in exchange for a partial stake. Story from @CalMatters.

Legislators propose a $1-billion-a-year down payment program for first-time buyers, given the high cost of housing and rising mortgage interest rates, in exchange for a partial stake.