The problem is particularly acute in affordable housing. That means publicly subsidized affordable housing in California costs 54% more than market-rate housing, while in Colorado subsidized housing costs 18% less than market-rate construction. From 2020 through 2023, 92% of California affordable housing projects using the Low-Income Housing Tax Credit also relied on at least one additional public funding source, while 76% used two or more. Gavin Newsom in July, which consolidates several affordable housing programs so they can make integrated funding awards. California’s experience following the COVID-19 pandemic illustrates the consequences of administrative barriers, the report argues.